Deal Check - Lease on a Used 2019 CTS-V

Ask the Hackrs Used Cars
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Hey everyone! I’m new - to both leasing and the site and wanted to get some questions answered.

I’m currently interesting in leasing a CTS-V (which is a bit of a conundrum considering the latest MY was 2019.

I’ve been calling around to a bunch of dealerships, finally found one in Illinois (I live in D.C.) that even offered me a lease.

The selling price for the vehicle is 76k. The dealership’s first offer was:

Payment: 1660/mo
Term: 36mo
Residual: 56%
DAS: $1665

I know I haven’t done this before but this seems off… was originally expecting in the neighborhood of 700-800/mo.

Any thoughts? I haven’t seen much information on leasing used cars so I figured I’d ask!

I would have rather taken over someone’s lease but GM Financial doesn’t permit out of state transfers which leaves everyone in D.C. out of luck :frowning:

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You should spend more time searching the forums for leasing tips and reading leasing 101 on the main site.

With that said, you were never going to get a good deal on a used CTS - V for leasing.

Used cars generally lease horrifically because they are not financed by the primary manufacturer captive, they are financed by third party banks with low residual values (yours is quoted with a decent 56%, however) and high money factors.

Generally, we advise against leasing used cars. You are better off financing for 60 months and likely coming out ahead on it.

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Based on…?

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Run as far and fast as you can

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Based on what I had seen on individuals posting on lease transfer websites. Those probably had heavy manufacture incentives.

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Thanks all for your help.

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As a rule of thumb, used car leases pretty much never make financial sense, except for porsches.

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This post has to be a joke. Right? Please say it is…please.

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That is not a good measure of a realistic deal. Your best bet is checking out the “Shared Deals” section.
IMO, I would not bother leasing a used car. Why the CTS? Have you driven one?

If that is your budget, there are a lot other brands in that price range. I would suggest checking out the “Marketplace”.

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Or maybe a lot of CCR.

GMF only allows transfers within the same state so maybe look for a transfer in your state