leasing or buying ZL1?

[Ltespd]

A lease makes sense if the car has a high residual value. Or if you want something newer in 2 or 3 years. Example: What if in 2-3 years a Z28 is realeased on the new platform?
If the car has a high residual value...after the lease is over you can actually sell the car and make money.

[chd1]

not hardly

[Rocky918]

Originally Posted by GreenMonster

Do u plan on leasing or buying the ZL1 ? I hope to be to afford one when it comes out and lease it because the by the time the lease ends the 6 th gen would be out. If its better Ill lease the 6th gen.

what makes you so sure the 6th gen will be out so soon? they only just brought back the 5th gen after many years

[Ltespd]

Originally Posted by Ltespd

A lease makes sense if the car has a high residual value. Or if you want something newer in 2 or 3 years. Example: What if in 2-3 years a Z28 is realeased on the new platform?
If the car has a high residual value...after the lease is over you can actually sell the car and make money.

Here's an example of a guy who did just that: "Is leasing is a good deal? Not always, and probably not even usually. This deal was good for me because of the following very important reasons!

I negotiated the purchase price of the car before ever discussing leasing. I negotiated a purchase price of $26,500. The Manufacturers Suggested Retail Price (MSRP) was $28,900. I made sure the negotiated purchase price was put on the lease contract as the Capital Cost.

I made sure the Residual Value was reasonable. In my case the Residual Value of $15,414 is 58.2% of the Capital Cost (negotiated purchase price) and 53.3% of the MSRP. Some leasing companies set this value higher and some set it lower. If a higher Residual Value is set and you turn in the car at lease end, the company may try to find a way to charge you more for “wear and tear” in order to get back money they gave up by setting it too high. If a lower Residual Value is set and you turn in the car at lease end, the company will auction it off for more than the Residual Value and pocket money that you gave up by paying too much to lease it. If you buy the car at lease end and the Residual Value was set too high, you will have to pay more than the car is worth. If you buy the car at lease end and the Residual was set too low, you will have paid too much during the lease, but will recover some of that by buying the car for less than it is worth.

In my case, I sold the car to another private buyer myself and pocketed the difference between the Residual Value of $15,414 and the price I sold it for of $22,000! I am not kidding! I got a check from the private buyer’s credit union for $6,586. However, this is not typical… The particular car I sold had a high resale value because it was a turbo-diesel 4x4 Dodge Ram truck and they were in high demand at the time. I also maintained it very well, so it looked new. More typically a car will be worth close to its Residual Value.

Most importantly, I spent time thoroughly reading and understanding the lease contract and what my responsibilities and options were under the contract. I made sure the Bank Fees were not too high and the Money Factor was equivalent to a reasonable interest rate."

[ffrcobra_65]

Originally Posted by Ltespd

Here's an example of a guy who did just that: "Is leasing is a good deal? Not always, and probably not even usually. This deal was good for me because of the following very important reasons!

I negotiated the purchase price of the car before ever discussing leasing. I negotiated a purchase price of $26,500. The Manufacturers Suggested Retail Price (MSRP) was $28,900. I made sure the negotiated purchase price was put on the lease contract as the Capital Cost.

I made sure the Residual Value was reasonable. In my case the Residual Value of $15,414 is 58.2% of the Capital Cost (negotiated purchase price) and 53.3% of the MSRP. Some leasing companies set this value higher and some set it lower. If a higher Residual Value is set and you turn in the car at lease end, the company may try to find a way to charge you more for “wear and tear” in order to get back money they gave up by setting it too high. If a lower Residual Value is set and you turn in the car at lease end, the company will auction it off for more than the Residual Value and pocket money that you gave up by paying too much to lease it. If you buy the car at lease end and the Residual Value was set too high, you will have to pay more than the car is worth. If you buy the car at lease end and the Residual was set too low, you will have paid too much during the lease, but will recover some of that by buying the car for less than it is worth.

In my case, I sold the car to another private buyer myself and pocketed the difference between the Residual Value of $15,414 and the price I sold it for of $22,000! I am not kidding! I got a check from the private buyer’s credit union for $6,586. However, this is not typical… The particular car I sold had a high resale value because it was a turbo-diesel 4x4 Dodge Ram truck and they were in high demand at the time. I also maintained it very well, so it looked new. More typically a car will be worth close to its Residual Value.

Most importantly, I spent time thoroughly reading and understanding the lease contract and what my responsibilities and options were under the contract. I made sure the Bank Fees were not too high and the Money Factor was equivalent to a reasonable interest rate."

I gotta take you car shopping with me because for some reason, whenever I walk into a dealer lot, a big shiny "Sucker" sign appear on my forehead.

[Mr. Wyndham]

Might keep it forever......so BUYING!

[stryder09]

Leasing is good if you want to flip cars every few years; if not, buy it.

[Scarrzz]

.

This will be my car, and no one else can have her until they pry my cold, dead body out of her.

.

[GreenMonster]

Originally Posted by Rocky918

what makes you so sure the 6th gen will be out so soon? they only just brought back the 5th gen after many years

It's already confirmed by gm 2015=6th gen

There fore if you lease the zl1 in 2012 the lease would be over on 2015 so u can lease to a 6th gen Camaro as appose to selling the 2012 and losing money to buy/lease a 2015...

Just saying

[Mark H]

Originally Posted by GreenMonster

It's already confirmed by gm 2015=6th gen

There fore if you lease the zl1 in 2012 the lease would be over on 2015 so u can lease to a 6th gen Camaro as appose to selling the 2012 and losing money to buy/lease a 2015...

Just saying

When was it confirmed?
This is from Scott



Quote:
Originally Posted by SSNIGHTMARE
So u don't even know what model yr it is? I thought I read a while back what year the next design was coming out.



Of course I do - but I'm not talkin'!

AND - there are lots of things happening in this industry - one of the unknowns is: "What will Washington do to us in terms of CAFE standards????"

That could change everything..........
__________________

Thor..... A legend in his own time.........

[Qdiesel]

to me, it all depends on what you want to do...if it's gonna be a garage queen, weekend driver and you don't plan on keeping it, lease it.

[Rocky918]

Originally Posted by Qdiesel

to me, it all depends on what you want to do...if it's gonna be a garage queen, weekend driver and you don't plan on keeping it, lease it.

if anyone is gonna buy this car to keep it in the garage... save your money

[2cnd chance]

Originally Posted by sed34

agreed. i don't think they would have a lease program for that car. beside i never understood leasing in the first place. Just paying the bank without gaining anything in return. Kind of like renting a house. you get nothing out of it, but the owner is banking your money.

Leasing a car... No! You'll pay a car off in a few years.
Leasing a house probably a good idea if you like your freedom. Just ask any short seller or foreclosure victim. Plus houses on average won't be seeing any gains in value for years.

[Mr. Wyndham]

Originally Posted by GreenMonster

It's already confirmed by gm 2015=6th gen

It's never been confirmed...alllllll rumors.