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Chevrolet Corvette Lease Questions

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  • Hi Guys, does any one knows the rate and residual for 2013 corvette base coupe? Thanks!
  • Here you go honjohn. Ally's October base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Corvette Coupe Base with 15,000 miles per year are 3.15% and 52%.

    Car_man
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  • Kirstie_HKirstie_H Posts: 10,899
    If you seriously considered buying a new Corvette but chose a different sports car instead, email PR@edmunds.com to talk with a reporter. Please include your daytime contact information and a few words about your decision. Please respond no later than Friday, January 11, 2013.

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  • kapkanimdkapkanimd Posts: 68
    Just wondering if they are offering any lease specials on corvettes now that the new model is coming out soon? Never done a GM lease and not sure where to find more information on them. Is Ally the company that handles all of their leases and do they publish residuals and rates? I would like to see the residuals and MF for a 24mo or 36mo lease with 12k mi a year. Thanks in advance.
  • gmcustsvcgmcustsvc Posts: 4,132
    Hi kapkanimd,

    Chevrolet National Lease Offers

    Ultra Low-Mileage Lease for Qualified Lessees
    $599/month 39 month lease.

    $2,019 due at signing (after all offers).
    Tax, title, license, dealer fees and optional equipment extra.
    Mileage charge of $0.20 /mile over 32,500 miles. Prices may vary between dealerships. Ally does handles leases as well as other financial institutions.
    I hope this helps you.

    Marlea Wilson
    GM Customer Service
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kapkanimd. General Motors' base lease rate and residual value for a 24-month lease of a 2013 Chevrolet Corvette Coupe with 12,000 miles per year are 3.25% and 61%.

    The numbers for an otherwise identical 36-month lease are 3.3% and 54%.

    This is the program for a lease through Ally. General Motors also runs lease specials through US Bank and GM Financial. The 36-month US Bank lease rate is a little better at 2.4%. That might be the way to go on this model.

    The only significant cash incentive that I am aware of on the Corvette right now is a $3,000 owner loyalty offer.

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  • quintopquintop Posts: 5
    Does anyone know what the lease residuals are for the 2013 Corvette ZR1? Are they consistent with the base model:

    * 24 months / 12k miles / 3.25% = 61%
    * 36 months / 12k miles / 3.25% = 54%

    Also, is there variation between leasing through Ally or US Bank?

    Thanks!
  • Carman-
    I found a dealership that is offering a 39-month, 8000 miles/yr lease on a 2013 GS at $599/month with $2500 down. I asked the salesman at the dealership what was the residual at the end of the lease and he didn't know what I was asking him.

    To make sure I am asking the right question, I am trying to determine how much I would have to pay at the end of the lease if I wanted to purchase the vehicle at that time. I am trying to compare the total cost of leasing vs the total cost of purchasing and will consider the lease option if it's somewhat in line with the total cost associated with purchasing.

    I've seen you throwing around percentages and interest rates in answering all these posts. How is the residual calculated? Percentage of the sticker price? The car has been deeply discounted, so I assume if a percentage is used to calculate the residual, it will be a percentage of the original sticker price, not the discounted price. What is the interest rate you are quoting in all these posts and how does it relate to the lease?

    I was using edmunds' trade-in value of a 2010 GS with 24000 miles to help evaluate how much profit the dealership is taking in when they turn around and sell the car after the lease terminates to help negotiate the residual.

    Thanks for you time and advice.

    Pops
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi quintop. The lease rates are exactly the same, but the ZR1's residual values are 3% lower than they are on the base Coupe.

    The lease programs for US Bank and Ally are indeed different. These are the Ally numbers.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Pops. Vehicles residual values, which essentially are their lease-end purchase option prices, are calculated based upon a percentage of their full MSRPs, including destination and any factory-installed options.

    Ally's July residual value for a 36-month lease of a 2013 Corvette Grand Sport with 15,000 miles per year is 47%. That rises to 50% for leases with 10,000 miles per year. I've never seen a lease with 8,000, but Ally might offer 7,500...that would likely be 1% higher than 10,000.

    Ally's current base lease rate for this car is 3.05%. That means that this is the rate that is being used to calculate the interest portion of your lease payment.

    Car_man
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  • Hi Carman,

    Any idea on what the numbers (MF and Residuals) will be/are on the new 2014 Corvette Stingray for 2 years/10k miles per year? Anything out yet?

    Thanks!
  • centauricentauri Posts: 1
    edited December 2013
    Hello. Has Ally released any leasing information for the 2014 Corvette Stingray? I am considering a base 2LT coupe with options, at $63,720 MSRP ($57,723 invoice). Interested in a low mileage, 36 or 39 month lease with around 7,500 or 10,000 miles per year. Thanks!
  • greenie7greenie7 Posts: 12

    Cannot imagine that the lease rates are anything but ugly. Too soon after the release of a new style.

  • MichaellMichaell ColoradoPosts: 6,393

    @greenie7 said: Cannot imagine that the lease rates are anything but ugly. Too soon after the release of a new style.

    Our latest data from GM doesn't even mention the Corvette ... draw your own conclusions from that.

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  • muffinflavoredmuffinflavored Posts: 33

    @Michaell@Edmunds said: Our latest data from GM doesn't even mention the Corvette ... draw your own conclusions from that.

    Why is GM not leasing the Stingray?

  • kyfdxkyfdx Posts: 29,837

    They are probably selling all they can make.

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