Leasing a Camaro: What's the Best Option?

[waldo1967]

Hello All...

Wish I could get on here more often. There's a lot of good info here.

I was seeking some advice regarding what to do at the end of my lease.

Currently driving a 2015 Chevrolet Camaro 2LS. (Base model with A/T)

It's been a great ride with no mechanical issues and clean inside/out.

My options are to return it, trade it, sell to a private party or buy it.

The residual is about 15K plus 7% state sales tax.

The buyout would be about 16K. That's about 1500 above wholesale.

It has about 4300 miles and just 6 more payments of < $300/monthly.

Maybe I should've bought it when new. But hindsight is always 20/20.

So, what sounds like the best option going forward? Thanks!

[Moto-Mojo]

I just did this so I have some input. First and foremost, do you like the car well enough to buy it? Ever Jones for the SS/V8? If you’re on the fence about either of those things, don’t buy it. I have a 2015 2SS RS and leased for three years. It had low miles and I knew everything about its maintenance history. I pretty much planned to buy it all along. And did. The only downside is the lease payment is less than a loan payment so I had to go an extra year to keep it at or below (below in my case) the same payment.

My mistake was buying the LS first. I should have gotten what I wanted the first time. Hope that helps.

[Moto-Mojo]

Also, if you’re ok with making perpetual lease payments and are tired of that car, enter into another lease and drive a new one. If you regret not ‘owning’ it, maybe pay the diff and walk away and purchase one. The dealer may work with you. And they may work you over! But you probably need a car to drive. Again, my only personal advantage was I was driving the car I WANTED. That makes all the difference in my opinion.

[dawazeek]

Personally, I would think about whether you're happy with the V6. Think about what your plans with the vehicle are to be and make sure you get what will keep you happy. Nothing worse than getting a vehicle and then thinking you should have gone for the upgrade.

[waldo1967]

Thanks for replying. I appreciate it.
As for having the V6, I'm fine with it.
Certainly don't need any help getting tickets.
The only thing I regret is not getting the LT trim instead.
But can always do aftermarket upgrades if I decide to own it.
If I kept it and took care of it, wouldn't it retain a better resale value?
Or perhaps not since it's a base model and not a higher trim level.

[Spec]

Originally Posted by waldo1967

Thanks for replying. I appreciate it.
As for having the V6, I'm fine with it.
Certainly don't need any help getting tickets.
The only thing I regret is not getting the LT trim instead.
But can always do aftermarket upgrades if I decide to own it.
If I kept it and took care of it, wouldn't it would retain a better resale value?
Or perhaps not since it's a base model and not a higher trim level.

Wouldn't hurt to test drive a V8 before making your final decision. Just my 2 cents.

[waldo1967]

Originally Posted by Spec

Wouldn't hurt to test drive a V8 before making your final decision. Just my 2 cents.

I might consider doing just that.

[Baldman]

Originally Posted by Spec

Wouldn't hurt to test drive a V8 before making your final decision. Just my 2 cents.

Originally Posted by waldo1967

I might consider doing just that.

Cost you more at the pump plus insurance would be higher.

[pyroguy]

First of all, and I'm not beating you up about it just stating, leasing a car is the most expensive way to own a car. If you plan on buying a car that you're thinking about leasing, either save up a little more if you can't afford the payments, or don't buy the car.

That being said, you are talking about the resale of your car if you buy it. First off, cars aren't investments. At least they're not good investments because 99.999999999% of the time they go down in value immediately. (The only exception I can think of is the early 00's Ford GT.) If you want to own your car to enjoy then buy it. If you're getting tired of it then turn it in and get another car.

As for wishing you'd gotten a LT vs. a LS, if you want the LT find a nice LT on the lot when you turn yours in. Aftermarket parts are seen as something that subtracts from a car's value. Even a LS upgraded with LT parts will still be a LS with added parts even if the parts are OEM. This is not to hate on LS owners, I'm just saying that the typical buyer doesn't appreciate after purchase mods no matter the trim level.

At the end of the day it's up to you. If you like your car buy it, enjoy it, and if/when you sell it know that you'll get market value for a 2015 2LS Camaro. My friend's 2010 2SS/RS car that started life as a M6 LS3 car and ended up as a LSX 427 twin turbo with a TH400 trans was paid out by insurance as a 2010 2SS/RS M6 Camaro when it met an untimely demise.

[Rock-It Man]

I would not buy this base model. It will be at the bottom of the pyramid when you finally decide to sell or trade it.

Plus no way is it worth the residual.

[StreetRage320]

I would not buy the car if you are worried about resale value. Cars are not an asset, they are a liability that depreciate quickly. May be hard to sell privately as you will be limited to someone willing to drop to a base model V6.

If you have maintained the car well and enjoy it, then purchase it.

[Moto-Mojo]

Originally Posted by StreetRage320

I would not buy the car if you are worried about resale value. Cars are not an asset, they are a liability that depreciate quickly. May be hard to sell privately as you will be limited to someone willing to drop to a base model V6.

If you have maintained the car well and enjoy it, then purchase it.

The first part of your advice is pretty pretentious there, ZL1. There are PLENTY of people wanting to move UP to a Camaro LS or LT. Believe it or not, there are a lot of cars a step down from that. But you’re ok on the second part.

[StreetRage320]

Originally Posted by Moto-Mojo

The first part of your advice is pretty pretentious there, ZL1. There are PLENTY of people wanting to move UP to a Camaro LS or LT. Believe it or not, there are a lot of cars a step down from that. But you’re ok on the second part.

I have nothing against LS/LT models so don't turn my comment into a another V6/V8 debate (too tired tonight)..My point is those people you are referring to that would be willing to step up to a LS/LT, would most likely be willing step up to SS/ZL1/Z28 etc. They would likely compare them all. So he would be marketing a very well cared for car and wanting top dollar against a lot of competition. On the flip side, those looking for a SS/ZL1/Z28 would most likely not be interested in the LS/LT.

[gringo]

Originally Posted by Spec

Wouldn't hurt to test drive a V8 before making your final decision. Just my 2 cents.

If he's happy with his V6, why push him into a more expensive V8?

Why not just tell him to test drive a ZL1? That would make the SS feel like a slow car in comparision.

I have no problem keeping up with traffic and getting around people that are in my way in my V6.

Just my 3 cents.