Still learning about leasing right now, and getting a handle on the basics of traditional leasing. I’m wondering if there is anything to know about leasing older stock vehicles. I noticed that my local dealer is advertising a 20% dealer discount off a brand new 2018 Silverado LT All Star, and I’m wondering if it makes any sense to attempt to pursue it, or are residuals dramatically lower on something like that.
No.
To lease, you need a financier that will back that lease. This is called lease support. Most car companies use their own financier, like BMW financial services, Mercedes Financial services, etc, or use a partner bank (Land Rover uses chase). All don’t support multiple model years back. BMW right now supports ‘19, ‘20, and ‘21 as 330es are hitting dealers soonish™ as an example (before anyone crucifies me, ‘21 models are mentioned on their site for corporate fleet, and incentives so I’m including them).
GM (chevy’s parent) financial services do not support ‘18s, and any bank that will do this lease will make it flaming garbage.
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Although it probably can’t be leased, if you can get it at a great discount and use the 0%/84mo financing program (or other favorable financing, see the Loan Hackr thread), it would probably work out to a favorable payment.
Thanks. 84mo is only on 2020-19
Understood. I’ll move on. Makes sense.