Another way to look at it is it wouldn’t be 1197 a month cause you’re saving 15K over the term. The payment is closer to $780 with the tax savings
I’m glad you find my advice helpful. Due to a conflict of interest with my job in the finance field- I will refrain from answering specific pricing/tax questions. Thanks for understanding. In regards to how you’re going to report - I highly highly highly recommend you go to a tax adviser/accountant, I cannot stress that enough. Good luck!
@aeljizi Please follow forum rules for requesting RV, MF, etc. information. Ask the Hackrs is not the right place to post this question. Thank you and welcome to the LH community. Please refer to:
How can the same rule of thumb apply to sedans and compacts (low demand), SUVs and crossovers (high demand), and sports cars (luxury item)?
Not sure my friend. The 1% rule was created by either the forum or its members- it is based off of the more popular leases.
A monthly payment of 1% of MSRP indicates a hackr score of 8.33 (100 months divided by 12). It is just a general gauge to judge if you would be better of buying or leasing the same vehicle. It has nothing to do with demand. Some vehicles lease better and some vehicles purchase better. That is my opinion, anyway.
1 Like
I feel like, the vette is selling at a really great price now, especially with the Grand Sport just coming out. A local dealer here is advertising $8500 off of MSRP for a Z51, so figure much more is achievable…It might lease poorly, but it buys well!
Hey guys, I’m new to site and leasing… I was looking at a vette recently … MSRP 63k… $3500 down, 7.5 miles a year 3 yrs and the payment was at $780… lowest I’ve found but still high… any tips? Should I just finance? Thanks fellas… really appreciate any help…
What is the MSRP, Selling price, MF and state taxes?
63k MSRP
58k selling price
MF?
MF is the Money factor (Interest rate) of the Lease.
I would push for a bigger discount, in LA they are hanging around like a bad smell on the dealer lots.
Likewise in my neck of the woods. Made too many.
Check Kerbeck Chevy’s advertised pricing - I believe they are highest volume Corvette dealer in the country and that will give you an idea of how low your dealer can go.
Once again the issue with leasing a corvette is the Residual, the MF, and the lack of an option to put down MSDs to reduce the MF. Not the discount off MSRP
Jaguar coupes lease much better because their Residuals are much better than the rest. The selling price to lease payment are bad with vettes, sucks because the current gen is great. Get your 10-13% off MSRP and then get low financing through a credit union. PURCHASE MAKES MORE SENSE HERE…