Anyone leasing the ZL1?

[doctorwill]

Just curious if anyone is planning on leasing the ZL1? Any idea on Mfactor and residual?

Thanks

Will

[The Stig]

I'll be honest. I don't think you'll find many dealerships leasing ZL1s.

[Bjones]

Residual will be listed on a dealers invoice. You could probably walk into a dealer and ask for a residual and they could get that in a heartbeat for you.

Chevy has standard money factors they can use for any vehicle not listed on any special subvented lease program.

I would imagine it's very possible that Chevy forbids leases on certain "special purpose" vehicles. I think vehicles such as the Z06 and ZR1 and ZL1 would be not available for lease - and for good reason.

[Kluch]

Guys, leasing is the same as buying to the dealer. They get paid just the same. You don't lease from the dealer, you lease from the bank who pays the dealer. There will be no special lease programs so monthly payments won't be much lower than if you purchase, so it kind of defeats one of the major advantages of a lease.

[AZ_Gixxer1000]

Originally Posted by Bjones

Residual will be listed on a dealers invoice. You could probably walk into a dealer and ask for a residual and they could get that in a heartbeat for you.

Chevy has standard money factors they can use for any vehicle not listed on any special subvented lease program.

I would imagine it's very possible that Chevy forbids leases on certain "special purpose" vehicles. I think vehicles such as the Z06 and ZR1 and ZL1 would be not available for lease - and for good reason.

Residual is a percentage of MSRP and it changes just like rebates do.

for example:

MSRP = 50,000
Residual 55% = $27,500

$27500 is the amount the bank says it will be worth at the end of the term in my example. REGARDLESS of what you pay for the car this is the Residual. if you paid 50K or 30K the Residual is guaranteed and based on a percentage... NOT THE INVOICE. the amount you pay in payments is the diffrance between the two numbers. the purchase price and the Residual (basicly)

The residual will also change with time. the older the car the LOWER the Residual becuase it would be worth less when the lease expires. now by older i mean if you went to your dealer and bought a left over model. it is still a new car but it is one year older at the beginning and therefor also one year older at the end of the lease. thus worth less to the bank at auction come the end of the term.

IF you lease with GMAC (Ally) the residual can change several percantage points depending on and rebates or other incentives. i.e. higher Residual rather than taking the rebate

but you DO NOT have to lease with GMAC. you can shop a lease just like you can shop a loan. banks and credit unions also have leases. the HIGHER the Residual the lower the payment (generally speaking) reason being is the car is valved higher at the end. so if you want to use the option to buy it out at the end the amount you pay is more.

leasing is a GREAT way to go. i have leased my last 5 or 6 vehicles. leasing gives you all of the options of ownership but none of the obligations. you should also buy things that appreciate and rent or lease things that depreciate.

for the record i am buying my ZL1

but still leasing my other cars

[AZ_Gixxer1000]

Originally Posted by Kluch

Guys, leasing is the same as buying to the dealer. They get paid just the same. You don't lease from the dealer, you lease from the bank who pays the dealer. There will be no special lease programs so monthly payments won't be much lower than if you purchase, so it kind of defeats one of the major advantages of a lease.

but lower payments are not the only advantage.

[Ltespd]

Originally Posted by AZ_Gixxer1000

Residual is a percentage of MSRP and it changes just like rebates do.

for example:

MSRP = 50,000
Residual 55% = $27,500

$27500 is the amount the bank says it will be worth at the end of the term in my example. REGARDLESS of what you pay for the car this is the Residual. if you paid 50K or 30K the Residual is guaranteed and based on a percentage... NOT THE INVOICE. the amount you pay in payments is the diffrance between the two numbers. the purchase price and the Residual (basicly)

The residual will also change with time. the older the car the LOWER the Residual becuase it would be worth less when the lease expires. now by older i mean if you went to your dealer and bought a left over model. it is still a new car but it is one year older at the beginning and therefor also one year older at the end of the lease. thus worth less to the bank at auction come the end of the term.

IF you lease with GMAC (Ally) the residual can change several percantage points depending on and rebates or other incentives. i.e. higher Residual rather than taking the rebate

but you DO NOT have to lease with GMAC. you can shop a lease just like you can shop a loan. banks and credit unions also have leases. the HIGHER the Residual the lower the payment (generally speaking) reason being is the car is valved higher at the end. so if you want to use the option to buy it out at the end the amount you pay is more.

leasing is a GREAT way to go. i have leased my last 5 or 6 vehicles. leasing gives you all of the options of ownership but none of the obligations. you should also buy things that appreciate and rent or lease things that depreciate.

for the record i am buying my ZL1

but still leasing my other cars

Finally someone who knows leasing and how its done! So many guys say lease or don't lease and they don't know squat about it. I bought my SS, but I've leased over 10 cars over the years.

[lbls1]

Very informative. I will keep this one subscribed.

[robsls3]

Leasing was a total waste for me as GM required you to have higher insurance on them.

My wifes truck we leased and they wanted a 100k/300k insurance policy on a 20k truck. I wasnt informed of this the day I signed the contract and fought GMAC for 3 years on it. I refused to get a policy that high and kept it as my standard 40k/80k.

My GTO was the same and I kept my policy 40k/80k. I was given threats of lawsuits, repos, forced placed insurance if I didnt comply. None of it happended and they would give no valid reason why I needed it that high.

We were not talking a few dollars extra on a policy my payment would have gone up $165 a month for each car if I went the 100k/300k through statefarm on a clean driving record.

[motorhead]

Originally Posted by robsls3

Leasing was a total waste for me as GM required you to have higher insurance on them.

My wifes truck we leased and they wanted a 100k/300k insurance policy on a 20k truck. I wasnt informed of this the day I signed the contract and fought GMAC for 3 years on it. I refused to get a policy that high and kept it as my standard 40k/80k.

My GTO was the same and I kept my policy 40k/80k. I was given threats of lawsuits, repos, forced placed insurance if I didnt comply. None of it happended and they would give no valid reason why I needed it that high.

We were not talking a few dollars extra on a policy my payment would have gone up $165 a month for each car if I went the 100k/300k through statefarm on a clean driving record.

40k/80k is not enough in today's world lease or no lease.

[2012ZL1]

Originally Posted by motorhead

40k/80k is not enough in today's world lease or no lease.

Because insurance is a scam and a rip off, as well as licenced robbery and basically an industry that is out to screw you any way they can, I always opt for the absolute lowest possible insurance I am required to get.

If i could get no insurance that is what i would do in a heartbeat.

Insurance is much like blackmail, only insurance companies are allowed to get away with it.

Don't let the insurance company commercials fool you, they don't give a rats ass about you, they just want your money.

The insurance industry is a cartel, and is operated as such. The companies are all run by crooks.

Now if you get in accidents, and are a crappy driver, I guess you must pay to play. I , however hate being forced to pay for other people's stupidity and lack of driving ability.

[Scrappy Doo]

Be interesting to see what the residual etc would be.

[motorhead]

Originally Posted by 2012ZL1

Because insurance is a scam and a rip off, as well as licenced robbery and basically an industry that is out to screw you any way they can, I always opt for the absolute lowest possible insurance I am required to get.

If i could get no insurance that is what i would do in a heartbeat.

Insurance is much like blackmail, only insurance companies are allowed to get away with it.

Don't let the insurance company commercials fool you, they don't give a rats ass about you, they just want your money.

The insurance industry is a cartel, and is operated as such. The companies are all run by crooks.

Now if you get in accidents, and are a crappy driver, I guess you must pay to play. I , however hate being forced to pay for other people's stupidity and lack of driving ability.

I agree with everything you just wrote ,but I also need to protect my assets as much as possible.

[S-eatin-grin]

Originally Posted by 2012ZL1

Because insurance is a scam and a rip off, as well as licenced robbery and basically an industry that is out to screw you any way they can, I always opt for the absolute lowest possible insurance I am required to get.

If i could get no insurance that is what i would do in a heartbeat.

Insurance is much like blackmail, only insurance companies are allowed to get away with it.

Don't let the insurance company commercials fool you, they don't give a rats ass about you, they just want your money.

The insurance industry is a cartel, and is operated as such. The companies are all run by crooks.

Now if you get in accidents, and are a crappy driver, I guess you must pay to play. I , however hate being forced to pay for other people's stupidity and lack of driving ability.

I bascially agree with you as well...but insurance is necessary because of the other major crooks in society...attorneys. Liability/lawasuits are the reason most states have set minimum coverage laws...people are sue-happy in the US and a minor fender bender turns into the lottery for the plantiff...medical, pain and suffering...it's not even about the vehicle anymore.