[A Town]

Originally Posted by Marine Corps

Check Credit Karma.com. It's free. A score of 670 is kind of low.

its 675 on credit Karma - they show credit scores 30 points less then what you have based on what pass dealers told me. My credit is good not the concern here. I just want to make sure the deal is good. I already pay 800 a month for my current Camaro but that's not the amount its at but I always pay more. My payment is 500 but I pay 800 a month. I can do the payments no problem I make 90k a year. Just making sure im doing the lease right. Never had a leased vehicle before

[stratt]

Originally Posted by A Town

its 675 on credit Karma - they show credit scores 30 points less then what you have based on what pass dealers told me. My credit is good not the concern here. I just want to make sure the deal is good. I already pay 800 a month for my current Camaro but that's not the amount its at but I always pay more. My payment is 500 but I pay 800 a month. I can do the payments no problem I make 90k a year. Just making sure im doing the lease right. Never had a leased vehicle before

I have enjoyed leasing in the past. However, I just purchased my camaro and tried to trade in my lease vehicle. There was no equity in the car, so had to shell out a down payment. Keep that in mind.

[WoodBoss]

Originally Posted by Techn9cian805

my dealer said about the same, I'm gonna be about 7000 upside down, and with a 3.9 apr and a down payment of 6000 I'd be at 670 a month. I can make the payments, but not sure if I want to. my be better off just private selling my 14 Camaro.

If you want a good deal sell your current Camaro privately, generally dealers don't give you anywhere near what your car is worth. Then after your Camaro is sold buy a 2016 Camaro that is used. You will save so much money it's not even funny. I do this all the time, sell high, buy low but you have to be willing to wait a little and not force things. let somebody else take the hit!! You will have your 2016 Camaro for 10-15k less on your loan, and do not lease ever. You can even take it a step further and widen your search, eventually you will find a good car at a great price so if you don't like it you could sell it for what you paid or even make some $$$.

[A Town]

Originally Posted by WoodBoss

If you want a good deal sell your current Camaro privately, generally dealers don't give you anywhere near what your car is worth. Then after your Camaro is sold buy a 2016 Camaro that is used. You will save so much money it's not even funny. I do this all the time, sell high, buy low but you have to be willing to wait a little and not force things. let somebody else take the hit!! You will have your 2016 Camaro for 10-15k less on your loan, and do not lease ever. You can even take it a step further and widen your search, eventually you will find a good car at a great price so if you don't like it you could sell it for what you paid or even make some $$$.

LOL Not willing to wait. These cars are hard to sell privately, trust me I tried no body is trying to spend 30k or more on a 2014 fully loaded Camaro. I will get rid of the negative balance by leasing the Camaro. 600 dollars is not a hurt to me. Financing a vehicle is pretty much leasing. LOL you still don't own the car and if your like me and don't keep cars more than 4 years best to least. I cant deal with this negative equity crap anymore. I don't plan on keeping cars for that long. these cars loss value so fast its not even funny, so I will lease to secure myself.

[davet435]

Originally Posted by lDejavul

it really depends on your age... I don't find myself using the tour mode as often as I thought I would. I'm 31 and don't mind the sport feel. I think its a interesting feature but I wouldn't let it stop me. I only drive in sport. I honestly cant feel the difference, and from what I am hearing is get the mrc is a good thing if you are older...

This is a very good point. I'm 53 and have serious back problems. I definitely want the MRC.
I think I would wait regardless. Your going to kick yourself if you take one that isn't exactly what you want and yours shows up a week later. Becky said they are starting to move at a better pace now

[suzook]

Originally Posted by A Town

600 dollars is not a hurt to me.

Well your alot closer to $700. I'm sorry, but that price of $680 sounds like a bad deal. You should be no higher than $550 for that car. BTW, 675 credit score is mediocre at best these days.

[Dreng]

Originally Posted by ChefBorOzzy

I was just looking at this one online today.. Pretty much how I would spec it our, except I'd get split spoke wheels.

Lol if you ever make it to north Texas I would happily swap for he split. I forgot to mark that box and getting stock.

[Number 3]

Just ran my lease calculator.

sales price $43,000
sales tax 8%
down payment 0
trade in 0
Interest rate 6%
36 month lease
residual value 58%


I get $652/month

6% seems like a high interest rate today

If I put in 7% then I get $688 per month.

Mid 600 to mid 700 is "good" for credit rating. I think the rate to result in 680 is really high.

4%, which seems more likely a decent loan rate today should get you below $600 per month.

[ChefBorOzzy]

What kind if money factors or interest rates, whatever they call on leases, could a person expect woth excellent credit?

[raptor5244]

Originally Posted by A Town

My dealer called me today. He stated that he tracked down my car and its 30min away. He said a truck needs to pick up and bring it to them. He stated that it could be here in a couple of days or in a week but will be here for Xmas.

My next question is. The dealer that had the vehicle I was going to get in the link didn't pull my credit but said the payments will be 680 a month. People are saying that's a bad idea. I have bought all my last 4 Camaros and these things drop in value fast. I don't want to be in another Camaro and trade it in with an upside down balance. So my question here what is a good rate on a lease? the vehicle i'm getting is 44K 2SS. My trade is a 2014 Camaro dealer is giving me 28k for a owe 34k. I am also trading in my BMW and getting a trade of 5,500. The dealer said the lease can be 120% of the veh value. I don't know what that mean. What this information in mind where should I be at in payment? I want to be prepared when I pick up my vehicle when it gets here

Thank you

From experience, this is not a good lease or deal in any way. You need to get all the data. This is what we need to know in order to help you determine if a lease is any good. You need the MSRP, negotiated sales price of the car, money factor (interest rate) term (how many months) and residual value.

I think you said MSRP was $44k and residual was 59%. If you can get the rest of the details including fees, etc. we can provide feedback.

[raptor5244]

Originally Posted by ChefBorOzzy

What kind if money factors or interest rates, whatever they call on leases, could a person expect woth excellent credit?

For reference, I leased a 2013 2SS 1LE. $43k MSRP, $39k agreed selling price, .00100 money factor, 36 month, 12k miles per year. 62% residual. $595 acquisition fee plus first payment and tag upon signing. $425 per month plus tax.

So, you can see the key to a good lease is decent discount off of MSRP, high residual, low money factor. A Camaro is not going to lease out like a Toyota Camry or Honda Accord but if you can buy it right and have good credit is not too bad. The leases on new model cars are typically not too good until the banks have confidence in the residuals plus since the car is new and demand is high they can get away with the higher interest rates (money factor).

[raptor5244]

Originally Posted by Number 3

Just ran my lease calculator.

sales price $43,000
sales tax 8%
down payment 0
trade in 0
Interest rate 6%
36 month lease
residual value 58%


I get $652/month

6% seems like a high interest rate today

If I put in 7% then I get $688 per month.

Mid 600 to mid 700 is "good" for credit rating. I think the rate to result in 680 is really high.

4%, which seems more likely a decent loan rate today should get you below $600 per month.

That interest rate is a killer and and the 58% residual is not great either. Change the interest rate to like 2.9% and and assume you can get $2000 off of MSRP and see what you get.

[raptor5244]

I am not comparing cars, just comparing leases. You can lease a new Lexus IS350 for 36 months, 10k with $1500 out of pocket for $369 per month plus tax. This a $48k car. The much stronger residual value and low money factor that they offer on these luxury car leases are tough to beat. If the car cost $600 per month to lease it and you are ok with that kind of payment then just put like $5k down and buy the darn thing. Then plan on keeping 4 years or so you have some equity.