: What's the word on leasing?



Tasos
08-26-09, 12:45 PM
Wondering if there is any news on GMAC leasing for the V or any other vehicles.

Bigron
08-26-09, 06:04 PM
GMAC is leasing, currently the CTS-V is not on the list of vehicles offered at incentivized rates
It is also excluded on US Bank leases as well

abbas
08-28-09, 01:02 PM
This is what I was quoted for a lease a few weeks ago from US Bank.

36 month 12,000 mile lease:
$2400 Drive Off
$1318 per month plus tax (1440 including)

48 month 12,000 mile lease:
$2400 Drive off
$1075 per month plus tax (1175 including)


So I just decided to buy and finance the car. Those lease prices are pretty ridiculous.

abbas
08-28-09, 01:05 PM
Forgot that was with the NAV, Recaro, and Sunroof Options.

radix
08-28-09, 01:33 PM
Forgot that was with the NAV, Recaro, and Sunroof Options.


what was the residual price ? interest rate ? - i.e. was the cost so high because of poor end of lease price or did they use a big interest rate ?

abbas
08-28-09, 01:55 PM
Poor end of lease price.

US bank is looking at a residual of $22,308 with the 4 year lease. With those rates, I could have leased a $85k+ European car. I was tempted initially just to go with the lease as it is better write-off thru my business but I also dont want to get ripped off.

neuronbob
08-28-09, 02:11 PM
Wow, abbas, those are awful lease terms. Even if you think only in terms of monthly payments (a mistake IMHO), my finance payments are hundreds less. Then again, I put down a significant down payment, enough that I could have bought a Honda Fit with mods, and have no payments at all. (My wife wonders why I didn't just do that. :) )

Razorecko
08-28-09, 03:59 PM
Poor end of lease price.

US bank is looking at a residual of $22,308 with the 4 year lease. With those rates, I could have leased a $85k+ European car. I was tempted initially just to go with the lease as it is better write-off thru my business but I also dont want to get ripped off.

same here. Even though there was write-off involved i also didnt want to get 'shafted' by us bank.

abbas
08-28-09, 04:08 PM
I put only $2500 down on my finance. The monthly payments are still less than the 36 month lease (with their $2400 drive off).