Will you able to Lease a New Camaro ? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

fad1 · 01-07-2009, 02:05 PM

I was wondering, I was planning on buying a new SS but I was wondering, do you think it will be possible to Lease a Camaro ? Does anyone have plans on leasing a new Camaro if it is possible to do so ? Thanks for your help

Rallyman6 · 01-07-2009, 02:12 PM

I don't see why not. But it's going to be hard to get a lease...

"The subsidized car leases from the Big Three that gave buyers stunningly low payments for two or three years won't be out there anymore," says Jack Nerad, executive editorial director and executive market analyst with Kelley Blue Book's online arm, kbb.com. "You can still qualify for a lease if you want to lease and have good credit by going through a bank or credit union, but the deals that were previously available with such low monthly payments are gone."

For most consumers, this means that buying just got more attractive than leasing, especially if you're looking for a low monthly payment and have excellent credit. Low rate and zero percent financing offers for 60- to 84-month loans are available and serve the Big Three's aim of transferring the potential risk of falling residual values to consumers.

The scoop
It's no secret that the Big Three are in trouble -- a combination of factors, including high gas prices and falling home values, have led to the bottom dropping out of the SUV and truck markets, which these automakers relied upon for much of their profits. To stem their losses, Detroit is taking action.

*GTAHVIT* · 01-07-2009, 02:17 PM

Checkout this thread,

http://www.camaro5.com/forums/showth...ighlight=lease

There's some talk about leasing in there.

massng · 01-07-2009, 02:28 PM

Hello, Currently GM is out of the leasing business. However you maybr able to find a third party leasing company to lease it for you. Try Goggling it.
Good Luck!

fad1 · 01-07-2009, 02:43 PM

Wow, by the way that thread is going, its going to be pretty tough. I may just wait a little longer to buy an SS

Rallyman6 · 01-07-2009, 02:48 PM

Quote:

Originally Posted by massng

Hello, Currently GM is out of the leasing business. However you maybr able to find a third party leasing company to lease it for you. Try Goggling it.
Good Luck!

I tried to "Goggle" once but it hurt my spleen..

JMAN311 · 01-07-2009, 04:10 PM

Anytime I ever looked at leasing it was only about $50-60/mo more to just buy it outright. So I personally won't bother with leasing and will be getting a conventional loan.

Ry4nVan · 01-07-2009, 05:17 PM

I don't suggest leasing at all. I tried my first lease with my Tacoma, and I definitely regret it. Getting a loan is much easier IMO.

l008com · 01-08-2009, 12:48 PM

I will be leasing.
Anyone know when GMAC will start leasing again? If not by this spring, then....
Can you use your GM Card earnings even if you finance through a 3rd party bank? Have the card knock $1000 off the price, then have the 3rd party bank finance (or lease out) the remainder?

*Mr. Wyndham* · 01-08-2009, 01:00 PM

Quote:

Originally Posted by l008com

I will be leasing.
Anyone know when GMAC will start leasing again? If not by this spring, then....
Can you use your GM Card earnings even if you finance through a 3rd party bank? Have the card knock $1000 off the price, then have the 3rd party bank finance (or lease out) the remainder?

I don't know about leasing, but they've expanded their loan coverage, so that's a bit of good news regarding GMAC general financing.

I've never understood the point of leasing unless you like getting a new car every ~3 years. (which I don't)
I'll be buying via loans.

l008com · 01-08-2009, 01:03 PM

In short, the point of a lease is to not tie up all your money in an object that is guaranteed to lose a significant amount of it's value. Put as little money as you can into things that are going to lose value, and put as much money as you can into things that are going to increase in value.

Mr_Draco · 01-08-2009, 01:32 PM

Quote:

Originally Posted by l008com

In short, the point of a lease is to not tie up all your money in an object that is guaranteed to lose a significant amount of it's value. Put as little money as you can into things that are going to lose value, and put as much money as you can into things that are going to increase in value.

Unfortunately this is no longer the case with leasing though GM. GM has raised the costs for leasing so high that the cost of leasing is almost the same as the cost of buying the car. As already mentioned, GM's cost of leasing now is about $50 less a month then the cost to buy the car outright and at the end of the lease you turn the car in so you have to get another car. If you paid the extra $50 a month, atleast the car would be yours and you wouldn't have to make another car payment unless you decided to get another one.

Leasing a car is like renting a house, while it may seem like a good idea in the short term, in the long run you end up paying a lot more and have nothing to show for it.

l008com · 01-08-2009, 01:36 PM

Leasing a car is nothing like renting a house. House ALWAYS go up in value. aside from very temporary economic downturns, your house is guaranteed to gain long term value. Your car is the exact opposite, it's guaranteed to lose value. Renting a house is a bad idea because its good to pile all your money into owning a house, a house is an investment. A car is not an investment, it's an expense.

l008com · 01-08-2009, 01:37 PM

Also you mentioned GM's lease rates being super high, but others say GM isn't doing any leases at all... soooo which is it? Do they have poor leases or no leases?

01-07-2009, 02:05 PM	#1
fad1 Drives: Future 5th gen Camaro Join Date: May 2008 Location: Los Angeles California Posts: 1,108	Will you able to Lease a New Camaro ? I was wondering, I was planning on buying a new SS but I was wondering, do you think it will be possible to Lease a Camaro ? Does anyone have plans on leasing a new Camaro if it is possible to do so ? Thanks for your help

01-07-2009, 02:12 PM	#2
Rallyman6 Member Drives: '10 2SS/RS IOM, Wht Stripes, Roof Join Date: Oct 2008 Location: Wellesley Hills, MA Posts: 850 View My Garage	I don't see why not. But it's going to be hard to get a lease... "The subsidized car leases from the Big Three that gave buyers stunningly low payments for two or three years won't be out there anymore," says Jack Nerad, executive editorial director and executive market analyst with Kelley Blue Book's online arm, kbb.com. "You can still qualify for a lease if you want to lease and have good credit by going through a bank or credit union, but the deals that were previously available with such low monthly payments are gone." For most consumers, this means that buying just got more attractive than leasing, especially if you're looking for a low monthly payment and have excellent credit. Low rate and zero percent financing offers for 60- to 84-month loans are available and serve the Big Three's aim of transferring the potential risk of falling residual values to consumers. The scoop It's no secret that the Big Three are in trouble -- a combination of factors, including high gas prices and falling home values, have led to the bottom dropping out of the SUV and truck markets, which these automakers relied upon for much of their profits. To stem their losses, Detroit is taking action. __________________ 2SS/RS IOM, Wht Stripes, 6MT, IO Interior, Roof, Eibach Sways, BC Coilovers, BMR Swing arms,Barton Short Shift, BBK LT's, GMPP exhaust, Hi-Flow Cats, MAST Stage 2 Cam, CAI = 470RWHP

01-07-2009, 02:17 PM	#3
GTAHVIT Blessed Drives: 2013 Sonic RS MT Join Date: Dec 2007 Location: Saint Augustine FL Posts: 28,444 View My Garage	Checkout this thread, http://www.camaro5.com/forums/showth...ighlight=lease There's some talk about leasing in there. __________________ Click image to see build thread. PQ - "the love of cars. It's a boys first step toward manhood and a mans last hold on boyhood." Fbodfather - "We do not want to use the Z28 moniker on a car that does not deserve this hallowed name." The_Blur - "Let's not confuse competitors with equals."

01-07-2009, 04:10 PM	#7
JMAN311 Drives: 2013 F-150 Limited Join Date: May 2008 Location: Parker, CO Posts: 2,191	Anytime I ever looked at leasing it was only about $50-60/mo more to just buy it outright. So I personally won't bother with leasing and will be getting a conventional loan. __________________ There just might be a 2016 Camaro or Corvette in my future... _____________________________________________ Previous Chevy's 2013 Camaro ZL1 A6\|SIM 2010 Camaro 2SS/RS\|M6\|CGM Exterior\|Gray Int 2000 Camaro SS\|M6\|SLP headers\|SLP center mounted quad exhaust\|Magnaflow muffler\|Hypertech programmed 2001 Corvette\|M6\|LG Motorsports Headers\|Corsa Touring Cat-back\|Magnaflow X Pipe\|Hurst short-throw\|Dyno tuned

01-08-2009, 12:48 PM	#9
l008com Drives: 2013 1LT Crystal Red/Beige Manual Join Date: Nov 2008 Location: Stoneham, MA Posts: 735	I will be leasing. Anyone know when GMAC will start leasing again? If not by this spring, then.... Can you use your GM Card earnings even if you finance through a 3rd party bank? Have the card knock $1000 off the price, then have the 3rd party bank finance (or lease out) the remainder? __________________ FS: 245/50R19 Snow Tires

01-07-2009, 02:28 PM	#4
massng Drives: 83 Impala Join Date: Oct 2008 Location: salem Posts: 3 View My Garage	Hello, Currently GM is out of the leasing business. However you maybr able to find a third party leasing company to lease it for you. Try Goggling it. Good Luck!

01-07-2009, 02:43 PM	#5
fad1 Drives: Future 5th gen Camaro Join Date: May 2008 Location: Los Angeles California Posts: 1,108	Wow, by the way that thread is going, its going to be pretty tough. I may just wait a little longer to buy an SS

01-07-2009, 05:17 PM	#8
Ry4nVan Drives: Currently (Toyota Tacoma) Join Date: Sep 2008 Location: Phoenix, AZ Posts: 288	I don't suggest leasing at all. I tried my first lease with my Tacoma, and I definitely regret it. Getting a loan is much easier IMO.

01-08-2009, 01:03 PM	#11
l008com Drives: 2013 1LT Crystal Red/Beige Manual Join Date: Nov 2008 Location: Stoneham, MA Posts: 735	In short, the point of a lease is to not tie up all your money in an object that is guaranteed to lose a significant amount of it's value. Put as little money as you can into things that are going to lose value, and put as much money as you can into things that are going to increase in value. __________________ FS: 245/50R19 Snow Tires

01-08-2009, 01:36 PM	#13
l008com Drives: 2013 1LT Crystal Red/Beige Manual Join Date: Nov 2008 Location: Stoneham, MA Posts: 735	Leasing a car is nothing like renting a house. House ALWAYS go up in value. aside from very temporary economic downturns, your house is guaranteed to gain long term value. Your car is the exact opposite, it's guaranteed to lose value. Renting a house is a bad idea because its good to pile all your money into owning a house, a house is an investment. A car is not an investment, it's an expense. __________________ FS: 245/50R19 Snow Tires

01-08-2009, 01:37 PM	#14
l008com Drives: 2013 1LT Crystal Red/Beige Manual Join Date: Nov 2008 Location: Stoneham, MA Posts: 735	Also you mentioned GM's lease rates being super high, but others say GM isn't doing any leases at all... soooo which is it? Do they have poor leases or no leases? __________________ FS: 245/50R19 Snow Tires

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