I had a 2021 Camaro LT1 I leased almost exactly a year ago. I had offers from $34k to $37k from the usual suspects, but I would’ve had to buy it out myself first and pay taxes due to GM restricting third party buyouts. I emailed a few local GM dealers and didn’t hear back. In the past I’ve tried the KBB instant offer and one of the dealers that reached out was the local Chevy store. I decided to give it a try and see what it gave me. I entered my info, and it came back with a price of $40,550. Within minutes, I got an snail from someone in the BDC at the Chevy store asking when I could come in. It’s less than ten minutes away, so I ran down. One of the sales guys grabbed my keys and gave it a quick look. I got a nasty rock chip in the windshield this past weekend (which I disclosed on KBB) and I noticed a big scratch on the top of the driver’s door frane when I was getting out at the dealership (I have no idea where it came from).
Anyway, the sales guy comes in about 10 minutes later and says that Camaros aren’t as hot as they were and they’d have to knock $1000 off. I told him to confirm the lease payoff and then we’d talk. Here’s the numbers:
Offer: $39,550
Payoff: $34,271.41
Equity: $5,278.59
I told him I needed $6k or I’d keep it. He went in back, came back a minute later, and asked if I could leave it right then if they did the $6k. I told him I’d need a ride home and he agreed. I signed the lease turn in agreement, drove it home one last time with him shotgun, he handed me my check, and he drove the car back. Start to finish from submitting the KBB request to check in hand was under an hour.
Final numbers:
Payments made 12 x $352.97 = $4235.64
Sale Price:$40,271.41
Equity:$6000
Cost of ownership for 12mos/4825mi: -$1,764.36
