Can you lease a 2017 car thru private bank?

Guys, let’s say there is a brand new vehicle on delaler’s lot. Obviously lease support from manufacture is gone. The sales price is like 35% off. Can you structure a lease thru private bank like Ally? Even if the interest rate is high and residual is low, it could be good lease considering the sales price discount.

I would say no

You can but the rate would be terrible and the residual would be too, no incentive by the bank to sell that car. Lease rates on current models are subvented by the manufactures

The only time you see any success with this is with Super Cars.

  1. The finance company would need to support a lease on it. There are some credit unions + Banks that do leasing…however…

  2. The dealership would have to have a relationship with that bank/credit union to do so. You can’t just personally call up Ally for instance, and say “I want to lease this car…let’s do some paperwork.”

  3. The lease isn’t going to be as nice as you think it will be, as outside banks don’t typically prop up the residual, which helps lower the lease cost. If the mfg already ceased lease support, you can be sure a 3rd party isn’t going to have a pretty residual and/or MF, as they’re not going to want to take a loss on it being a model year or 2 old already.

Use this link to see residual values for credit unions, you’d need to talk to your credit union though on what the MF would be.

You may have to use this one as well if it won’t let you use 2017s

In addition to ensuring the dealership he/she is working with has a relationship with that CU. If they don’t, they won’t structure the lease with them.

Thank you all. Will explore and report back…