Need advice, just got offered what may be a 1 yr early lease buyback from Chevy

[devsfan1830]

I have a 2014 Camaro 1LT with about 19K miles on it and a year left on my lease. I get a call today from my Chevy dealer asking if id be interested to sell the car back to them. Told him its a lease and its got about 4-5K in payments left plus whatever the buyout is on the car at the end of the lease and I'd only be interested if they gave me a new lease on a comparable 2016 model at the same or lower payment. He seemed interested still and asked me to bring it in tomorrow for a quick assessment. Should I be skeptical and just walk from this altogether? My goal at the end of my lease was to bring it in pretty well under mileage and in clean condition and try and negotiate a no money down new lease, same or lower payment, on a base model Camaro since the few things i have in my car are standard now. It SEEMS like this is what they're offering just WAY earlier than I thought. It feels a bit too good to be true but they said none of this has any commitment. If anyone has gotten a similar call or has actually done this I'd appreciate any thoughts and advice.

[BMR Sales]

Just trying to sell you a new car and put commission in his pocket

[sherob]

Originally Posted by BMR Sales

Just trying to sell you a new car and put commission in his pocket

+1 I'm always amazed at how much demand my 2007 Honda Ridgeline has.

[CRF8]

I understand it's leased but at 2 years it's got to be upside down on the value. I assume you put minimal down pay.


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[devsfan1830]

Originally Posted by CRF8

I understand it's leased but at 2 years it's got to be upside down on the value. I assume you put minimal down pay.


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2k down out of my pocket, 2500 from a tradein of 2005 buick i bought off someone (after new brakes, engine repair and a new sway bar over the year or 2 had it i def lost money in that deal). Tax/tags/fees were rolled into the lease payment. Maybe got screwed there but i'm fine with the payments so whatever. With the mileage and the relatively pristine condition my car is in save from a minor scratch in one door bluebook puts it at 19-21K in value. When I went to get this one i saw them selling an older camaro at 30K miles for a like 20-25k. So i know theyre gonna get their money for this one. Feels like theyre desperate for use Camaros. Maybe the new stock isn't moving well.

I'm approaching this tomorrow with heavy skepticism. They said to come in, no obligation, so I'll humor them. Only signing ANYTHING if they agree for what would basically be an even swap for a new lease which i'm betting is very unlikely. I have NOTHING for any down payments or tax/tags/fees crap.

[13coupe]

Please keep us posted on how it goes. Yes it is way early but...
Ask if someone can get you a GSU number from a friend. See if there is any pull ahead rebate on your existing Camaro lease or private offers available. Maybe someone has an online popup private offer they can set you up with.
Are you military? Do you have a GM card?
I pulled ahead almost a year from my '13 LS to get my '15 SS and added extra mileage. Payment only went up $48 a month.
Good luck!

[Jackass]

Originally Posted by devsfan1830

I have a 2014 Camaro 1LT with about 19K miles on it and a year left on my lease. I get a call today from my Chevy dealer asking if id be interested to sell the car back to them. Told him its a lease and its got about 4-5K in payments left plus whatever the buyout is on the car at the end of the lease and I'd only be interested if they gave me a new lease on a comparable 2016 model at the same or lower payment. He seemed interested still and asked me to bring it in tomorrow for a quick assessment. Should I be skeptical and just walk from this altogether? My goal at the end of my lease was to bring it in pretty well under mileage and in clean condition and try and negotiate a no money down new lease, same or lower payment, on a base model Camaro since the few things i have in my car are standard now. It SEEMS like this is what they're offering just WAY earlier than I thought. It feels a bit too good to be true but they said none of this has any commitment. If anyone has gotten a similar call or has actually done this I'd appreciate any thoughts and advice.

Well , you asked for advice
Them the dealer that your phone died , and hung up !
That's a sales gimmick , bs , crap , that someone came up with it to make you and others think that they are a good deal !
But you don't have to listen to I would like to tell you about it anymore
Stay away from those people

[devsfan1830]

Turns out it was not TOTALLY a mere sales gimmick. Turns out due to some system change over, as I leased my car right before they knocked down and built a new building and also in the 2 years since have shiffted from Ally to GM for leasing, I was in their system as having BOUGHT my car and making 600 bucks a month in payments. Now i told this guy on the phone that was the case and asked me to come in anyway. I did, and was handed off to someone else since he ended up getting "assigned" to something despite a standing appointment. The wonam i dealt with was very nice though and actually apologetic when she discovered the error. They still took a look at my car and let me test drive the 2016 LT (SO nice) while they ran numbers. They came back apologetic since this is WAY too early as i expected. I owe too much on my car to even try to get a new lease now. I still have about 5k in payments left for the next year. In order to get a new one with no money down and keep or lower my payment I would basically need enough cash down to both pay off my current lease immediately AND cover taxes and tags. Since i certainly didn't, it would basically double my current lease payment. The car is practically spotless with 19500 miles. They said I keep it that clean and undermileage and they'll certainly be willing to eat maybe 3 remaining payments and perhaps give me a bit of equity toward the next one as long as I can cover taxes and tags. Which WAS my plan the whole time anyway.

TL;DR: They messed up thinking I bought instead of leased. Nice people who were honest with me and at least let me see how the numbers fell and let me test out the new model.


I was also thinking of maybe trying to sell this thing myself toward the end of the lease to see if I get more cash in my pocket versus any equity the dealer might offer. Anyone know of safe, reputable services that might help with that? I'm not too jazzed about going with craigslist/sticking a sign on it and having to let total strangers test drive it.

[devsfan1830]

Originally Posted by 13coupe

Please keep us posted on how it goes. Yes it is way early but...
Ask if someone can get you a GSU number from a friend. See if there is any pull ahead rebate on your existing Camaro lease or private offers available. Maybe someone has an online popup private offer they can set you up with.
Are you military? Do you have a GM card?
I pulled ahead almost a year from my '13 LS to get my '15 SS and added extra mileage. Payment only went up $48 a month.
Good luck!

Not sure what you mean bu GSU number. But no theres no pull ahead offers from at least my dealer. Not sure where else I might look. I'm not military and don't have a GM card. Frankly I'm in no hurry to upgrade. Might be better off with the 2017 year since they might get some kinks out and have more trim level flexibility. I'm actually not picky. The basic stuff the the touchscreen and backup camera became standard so ideally I should be able to get the same features for less money on new models. Its just a matter of whether or not a dealer stocks an LS or LT without loading it up with extra stuff to push up the price. My goal is to maintain or reduce my payment. If that means waiting till lease end like I was going to thats fine. When they called i figured it was a mistake but had time so it didn't hurt to let them run the numbers.