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Old 08-06-2018, 01:05 PM   #15
Sheriff Justice
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Originally Posted by Noob10 View Post
Has anyone leased one recently? I'm looking into getting into my very first Camaro and I'm thinking about the ZL1.
Have you ever considered taking over a lease? My friend just took over a 23 month lease on a Corvette for cheap. Monthly payment would be cheaper as the previous owner put down the money needed at original start.

Use this for example:

http://www.swapalease.com/lease/deta...?salid=1268125

He’s looking for $2,900 down payment @ $449 per month x 31 months left. I would negotiate the $2,900 to like $1,000. He’s obviously just looking to get back some of the money he put down at start + mods. There is no down payment needed for a lease swap. Lease transfer paperwork cost approx $695 from GM. He will get a few hundred in his pocket for his time. Do not pay the $2,900 as he is clearly looking for his up-front fees and mod’s that he added (read description). Offer $1,000 total or walk (includes GM lease fee swap). You get a fully loaded Camaro 2SS with the best color that you can have fun in the next 2 1/2 years ($13,900).
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Old 08-10-2018, 06:34 AM   #16
DRKS1D3


 
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Originally Posted by The camaro show View Post
leasing cars is the biggest waste of money, your throwing money out of the window because have nothing on it buy it for 200-300 more a month and then you will have something to trade or sell
Complete and utter buffoonery as usual.

I work 10 miles from home and my wife works 5 miles from home. We lease my work vehicles and we lease her vehicle. We're both eligible for low mileage leases (we've never come close to our mileage limit). The vehicles are always under warranty. Every 3 years you pick a new one. Etc., etc., etc..

For us, it is a financially sound decision.

Now, would I lease a pleasure vehicle? No. Buy 'em, pay 'em off in half the time and smile when you don't have a payment.
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MY RIDE: 2017 CORVETTE GRAND SPORT--TRIPLE BLACK/CARBON FLASH, 7 SPEED MANUAL, VARARAM TCR-7 INTAKE, BORLA CATLESS X-PIPE

**SOLD**2011 TRIPLE BLACK SS CONVERTIBLE (BOUGHT NEW 4-2011)--6 SPEED MANUAL, MANY MODS, 455 RWHP/435 RWTQ


DAD'S RIDE: 2012 ZL1 #1866 (BOUGHT NEW 6-2012)--BLACK, 6 SPEED, EXPOSED CF HOOD, POLISHED WHEELS, SUNROOF, ROTO-FAB INTAKE

"Silly Americans, taking from the rich and giving to the poor only works in fairy tales. Success is earned here!".
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Old 08-13-2018, 04:06 PM   #17
Snoman
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Originally Posted by DRKS1D3 View Post
Complete and utter buffoonery as usual.

I work 10 miles from home and my wife works 5 miles from home. We lease my work vehicles and we lease her vehicle. We're both eligible for low mileage leases (we've never come close to our mileage limit). The vehicles are always under warranty. Every 3 years you pick a new one. Etc., etc., etc..

For us, it is a financially sound decision.

Now, would I lease a pleasure vehicle? No. Buy 'em, pay 'em off in half the time and smile when you don't have a payment.



This is a perfect example of generally why they don't teach personal finance in schools any longer. Unless you own a business (or 1099/Sched-C) to lease the vehicle under and write off 100% of the lease, insurance and mileage, what you are describing is a unicorn. Most don't have the free cash flow to justify purchasing a new car every three years either, this is simple snake oil of something the industry has convinced consumers they falsely need to do. Furthermore, 90% of the public doesn't qualify for the lowest money factor advertised on TV. $599/mo for a Merc E350 for example, will be $650+/mo before you leave the dealer. There exists no dealer in the world qualified to talk to you about financial stability. At the consumer level, leases solely exist for dealerships to make money off the money factor and a bazillion other reasons, leases do not exist to save the consumer money.



The easiest and simplest way to show how leasing works is managed assets. The owner of a rental property pays a management company 8.5% to run and operate said rental properties instead of managing their own assets. Within that 8.5%, is a factor of time and convenience whereby it is 'cheaper' for said owner to go do something else. The owner of a leased vehicle is paying someone else to manage the maintenance and upkeep instead of doing the work themselves. This payment carries a cost that most justify by tossing words like 'convenience' around, or "keeping up with technology" every 3 years. More direct in point, a lessee pre-pays their mileage and there are no refunds for any reason. In rare cases, it is cheaper but these are extremely rare and not the norm.



A few years ago I purchased a loaded sedan at 50% MSRP; clean, untitled and with full warranty off the showroom floor. I'll drive for 4 years then do it again and my payments are far less than any lease. I know others that drive 2 year old CPOs for three years with full warranty, repeat the process and pay less than any comparable lease as well.



Many still believe Rainbow Unicorns exists, though I'll advise everyone the same that still believes in them, go hire a tax attorney and seek professional help before signing any lease. 99x out of a 100 you are getting screwed.
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Old 08-14-2018, 06:05 AM   #18
DRKS1D3


 
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Quote:
Originally Posted by Snoman View Post
This is a perfect example of generally why they don't teach personal finance in schools any longer. Unless you own a business (or 1099/Sched-C) to lease the vehicle under and write off 100% of the lease, insurance and mileage, what you are describing is a unicorn. Most don't have the free cash flow to justify purchasing a new car every three years either, this is simple snake oil of something the industry has convinced consumers they falsely need to do. Furthermore, 90% of the public doesn't qualify for the lowest money factor advertised on TV. $599/mo for a Merc E350 for example, will be $650+/mo before you leave the dealer. There exists no dealer in the world qualified to talk to you about financial stability. At the consumer level, leases solely exist for dealerships to make money off the money factor and a bazillion other reasons, leases do not exist to save the consumer money.



The easiest and simplest way to show how leasing works is managed assets. The owner of a rental property pays a management company 8.5% to run and operate said rental properties instead of managing their own assets. Within that 8.5%, is a factor of time and convenience whereby it is 'cheaper' for said owner to go do something else. The owner of a leased vehicle is paying someone else to manage the maintenance and upkeep instead of doing the work themselves. This payment carries a cost that most justify by tossing words like 'convenience' around, or "keeping up with technology" every 3 years. More direct in point, a lessee pre-pays their mileage and there are no refunds for any reason. In rare cases, it is cheaper but these are extremely rare and not the norm.



A few years ago I purchased a loaded sedan at 50% MSRP; clean, untitled and with full warranty off the showroom floor. I'll drive for 4 years then do it again and my payments are far less than any lease. I know others that drive 2 year old CPOs for three years with full warranty, repeat the process and pay less than any comparable lease as well.



Many still believe Rainbow Unicorns exists, though I'll advise everyone the same that still believes in them, go hire a tax attorney and seek professional help before signing any lease. 99x out of a 100 you are getting screwed.
Managing money is easy. I don't know why people choose to make it so difficult. I'm 37, my wife is 36 and without getting into specifics, we both went to college, landed great jobs and we have the world by the ass.

If you have $50 in your pocket and you spend $60...you're broke. It's not difficult.

55 and retirement can't come soon enough.
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MY RIDE: 2017 CORVETTE GRAND SPORT--TRIPLE BLACK/CARBON FLASH, 7 SPEED MANUAL, VARARAM TCR-7 INTAKE, BORLA CATLESS X-PIPE

**SOLD**2011 TRIPLE BLACK SS CONVERTIBLE (BOUGHT NEW 4-2011)--6 SPEED MANUAL, MANY MODS, 455 RWHP/435 RWTQ


DAD'S RIDE: 2012 ZL1 #1866 (BOUGHT NEW 6-2012)--BLACK, 6 SPEED, EXPOSED CF HOOD, POLISHED WHEELS, SUNROOF, ROTO-FAB INTAKE

"Silly Americans, taking from the rich and giving to the poor only works in fairy tales. Success is earned here!".
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Old 08-27-2018, 07:43 PM   #19
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I leased my 2SS and have leased two other cars for the wife. The Honda we made 4k on it, at the end of lease it was worth more than we owed. Took it to another dealership and traded it in just like a new car.

If it wasn't worth as much as we owed, we could have turned it in and walked away. Or buy it at the lower price.

If you don't drive more than 15k miles a year a Lease is an awesome option. If you get a good price and the numbers add up.
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