2016 Camaro SS Lease Help?

Ask the Hackrs
1

Does anyone lease a 2016 Camaro SS? I got pricing on one WITH an employee discount, and even with a down payment of 6250&startup fees, the lowest I could get my monthly payment @ 48mo/10kmiles is 299$/mo.
Here is the car as configured:
The only options I selected are as follows: Automatic Transmission, Black Bowties, Dual Mode Exhaust.

I believe this might just be how expensive they are, but I wanted a second opinion. I am new to leasing.
I also am a student, so I believe I would qualify for the student discount. My mom is also a teacher, and the educator discount trickles down to children, so maybe that would help me out too.

2

Hi – your numbers look like they’re in the right ball park. I calculated this deal using the 39 month residual for 12k miles per year (58%) from the recent Leasehackr article on Camaro leases. The MF is .00165.

Given the MSRP and price listed there, with 0 incentives and 0 downpayment, here is what I came up with.

MSRP: $39,830
Sales Price: $36863.66 (7% off MSRP)
Incentives: $0
Downpayment $0
Acq Fee: $595
Net Cap Cost: $37,459
Residual: 58%
Months: 39
Miles/Yr: 12,000
Money Factor: .00165 (3.96%)
Montly Payment (before tax): $468
Doc Fee: $80
License/Reg Fee: $400
Sales Tax: 6%
Drive Off: $981 (1st months payment $496, Reg/Doc Fee $480, taxes/fees $5)
Monthly Payment (with tax): $496

I wouldn’t do a downpayment. There are a couple of good reasons for this that are explained in articles on this site. If you really want to, just plug in your desired downpayment.

7% off MSRP before incentives (don’t think there are any incentives currently available for Camaros) seems reasonable, but you may be able to get a slightly better price if you shop around at the end of the month. I’m in Southern California and have also been researching SS’s, and TrueCar was throwing out 8% off MSRP – that hasn’t been confirmed by any specific dealers on specific cars though (I also haven’t been making serious inquiries).

I think you largely hit the nail on the head - these cars are just a little pricey. They’re not horrible leases (the Leasehackr Score for the above deal is 7.1 years) but they’re not great either.

The discount on selling price and residual % both seem ok, but the high money factor adds a chunk of cash to the payment. Chevy doesn’t allow Multiple Security Deposits to reduce the MF (as far as I know). They do have a One-Pay lease option, but it requires you to lay down the full lease cost up front. If that car is total’ed or stolen, it wouldn’t be a great situation.

If you’re serious about the car, this is the ball park you’re in. Push for a little pencil sharpening, have some dealers compete for your business, and go for it.