Is the current residual value percentage the same for a new car regardless of the model year? i.e. We’re looking at 2016 and 2017 Canyon crew cabs. I’ve been putting the same residual percent in the calculator here to help us estimate payments, but should it be a lower number for the 2016 or does it not matter because they are both new?
Model year matters. Almost always, 2016 model will be lower than 2017.
Unless the OEM is subsidizing a loss on the older model year, it should naturally have a lower residual. Think about it, two identical cars with $40K MSRP:
MY2017: 3yr RV 60% ~= worth $24K in Jan 2020
MY2016: surely can’t be worth $24K at the same time, hence should have a lower residual.
Gotcha, thanks very much!
Pretty sure you can’t lease a 2016 Canyon through GM Financial any longer.