2017 Corvette residuals and money factor for Lease

Does anyone know what the residuals are for the Corvette. Im looking at a 2LT stingray MSRP 68320.

Dealer quoted; 5k miles per yer/ 36 months 690$ month with 4000 total due. Seems a bit off.

looking for 36 month residuals and money factor (ally)
5000 mile
10000 mile
12000 mile

Thank you

Alex

You should be able to ask the dealer as it is set in stone, I have not seen these figures anywhere before.

I don’t think Chevy leases corvette directly.

You might be able to but I think you would need to get 3rd party lease.

Wait for the gran sport. If you’re patient- Next cycle of good deals start at the end of March.

When you say wait for the Grand Sport, what do you mean? They have them for sale everywhere…

Also, what deals come in to pay in March. I ask because I’m interested in a Camaro.

Camaro has $1,200 lease cash this month, which I believe is first time GM has offered it on the 2017 Camaro. MF of .00119 for 36&39 months, while not great, is down as well. GM has a lot of Camaro inventory, so I would expect deals to get better, but certainly not get worse.

Thanks @adamcar, I was seeing $1000 lease cash + $500 competitive cash and then also trying to find $1000 from the red tag sale.
Does this sound right?

That thousand is for purchase ony

Stupid me, it says so right there as well. Thanks for pointing out the obvious. So the only thing I can look for is a red tag and the competitive lease. $1,500 in total. Shame, they are not leasing well. Can only get 7.5% off plus rebate but with the average residual and MF that still ends up being well over the 1% rule.

I guess I will wait it out. They had to close the factory because they are selling so badly.

Some spring releases/ new models start getting released at month of end March. The Grand Sport please see here- http://www.chevrolet.com/corvette-grand-sport.html

Thanks for the spring info. I know all about the Grand sport, what I did not understand is why one would wait. There are loads sitting on dealer lots. My local had at least 3 that I saw when I went.

I see. I didn’t see any when I last checked in November. Boy time flies…

I’d be curious to know what dealer quoted you those rates to the OP.

I was just quoted on a 2LT with Z51 Package the following:

36 month lease
Sale price $65,720
Residual 56%
Payment $1,197 per month tax included
Nothing down

Whether it is 5K, 7500K or 10K miles on the same lease the residual was exact same. So payment doesn’t change. This seemed weird to me.

What are your guys thoughts? Thank you for any feedback you give - I need all the help I can get.

Eww, that’s almost 2% of the monthly payment, nowhere close to a fruitful lease…

Btw the latest poster likely got a quote using GM Financial numbers, however Ally Financial has a very different set of numbers.

Also, there are big discounts to be had on these cars. My local has so many they don’t know what to do with them all. They started by offering $10k off without any negotiation. They may well have been 2016 models but as I understand there is not much between the 2016 and 2017.

Corvette leases ALWAYS suck. For two reasons

  1. Residuals BLOWs
  2. Money factor with no mechanism for MSDs BLOWS

Will

Can you expand on what you mean about 2% of the monthly payment? Also are Ally bank lease rates better than GM? Do you know those numbers?

Also this lease is a business write off…its a lease for a board member. So it makes sense in terms of the deduction on the lease payments.

It never makes sense to overpay for anything.

True True- but it’s a Corvette. Pricing is not always a deal killer when it comes to a true sports car.[quote=“jonahmils7, post:17, topic:7326”]
Will

Can you expand on what you mean about 2% of the monthly payment? Also are Ally bank lease rates better than GM? Do you know those numbers?

Also this lease is a business write off…its a lease for a board member. So it makes sense in terms of the deduction on the lease payments.
[/quote]

@jonahmiles7 I believe he is talking about how one calculates the best lease deal- generally the rule of thumb for monthly lease payments should equate to 1% or less of the sales price . @willwar14 is saying that the corvette lease payments are at 2% per month of the car’s price which surpasses by double the 1% formula.

When it comes to business write off- I would highly recommend you talk to a tax adviser or an accountant- there are options that can help you determine a better tax incentive- take MB for example - they have lease, financing, and balloon financing .

Cool thanks. That makes sense from an individual level. Corporate tax rates @ 34% tho - take the deduction and that’s over $15K in tax savings over the term - not to mention the earning potential of that $15K invested. So the true cost to the business is about $28K plus the buy out at the end. So it’s not exactly overpaying - however I do agree from an individual level I would never lease a corvette. From the business standpoint if you’re comparing it to the loan - this is much better deal.