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Chevrolet Corvette Lease Questions

kyfdxkyfdx Moderator Posts: 260,675
edited January 2019 in Chevrolet
Ask your Chevy Corvette lease questions here!

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  • kjwbmwm5kjwbmwm5 Member Posts: 17
    I would like to get the figures for March for both Coupe and Convertible for 36 and 48 months with 12,000 miles. I do not know if automatic or manual makes a difference but am looking at an automatic.

    Still looking at 911s as well but since the car has not come in and I have driven the Corvette now - it is tempting so I am keeping an open mind and wallet. Thanks, kjw
  • topspin628topspin628 Member Posts: 373
    If I lease a vert at 62K msrp with a 4K discount, 0 down, 15k miles per year, tax in payment (8.25) 36 mos. what would I be looking at as a monthly payment?

    Thank you
  • ajpbf7ajpbf7 Member Posts: 96
    carman, do you have the MF and residuals for a 36 month lease, 10K per year on a base Corvette w/manual transmission. Or any special leases? Thanks
  • talbotautostalbotautos Member Posts: 4
    I am leasing my 05 Corvette vert. from GMAC, but have decided to get rid of it before the lease is done. I have found a buyer with an offer significantly higher than my payoff. How do I go about selling the vehicle to this buyer, and paying off my lease. Should I try to pay off the vehicle myself, so that I can instantly transfer it to the new buyer. I can't imagine he would want to pay me, wait for me to pay of the lease, and then transfer the vehicle to him. Please help me.
  • smile1017smile1017 Member Posts: 37
    Does anyone know if I can get a Museum Delivery on a leased vehicle? The reason for the question is that I plan to buy the residual out when the lease is over. Right now, I just want the lower payments.
  • 23109vc23109vc Member Posts: 218
    how much on average are you spending per month on a leased C6 Z51?
  • smile1017smile1017 Member Posts: 37
    Well for me it's not the monhtly. Depending on how long you lease, and you add the residual you will see which way is the best. My calculations is that I save about 2K by leasing. The monthly is about $700 ($62K convertible with almost all the options) This is just based on my calculations. I haven't really been shopping because I have some other issues with my daily driver right now.
  • addiaddi Member Posts: 33
    Has anyone leased a C6 Coupe recently? I am wondering what
    the MF/Residual would be for this car.

    I am looking at MSRP of $53,185 and invoice of $47,155.

    Thanks for any information.

    Addi.
  • egold1egold1 Member Posts: 9
    anyone have figures for 2008 corvette convertible lease. 3yrs/36k miles. what is the residual and money factor? how about for zo6 as well?
  • mrgold78mrgold78 Member Posts: 3
    :confuse: Is there anybody monitoring this forum? How is it that there is NO answers to anyone's questions? Where is the host kyfdx and what happened to car_man?
  • myjord7myjord7 Member Posts: 2
    I'M IN S. FL. ANY LEASE DEALS ON '09 AUTO CPE LOADED???...
  • mas6002mimas6002mi Member Posts: 18
    I am getting an offer on a 1LT with AT, MSRP 46,993, plus GM employee price rebate of 5500, Tax, documentation fees etc. TOTAL: 44561. Residual : 26076, MF=0.0018. 36mo, 12k, Monthly payments= 584, with 2000 down. What do u guys think...... Carman, any input on this pleeeeeease.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mas6002mi. If you are able to purchase the Corvette that you are interested in through General Motors employee purchase program then you are definitely getting a good deal.

    The money factor that you were quoted looks great as well, especially for a vehicle that doesn't have any lease support available on it. This lease can't be through GMAC...er um Ally (since they're trying to trick us with the name change).

    Car_man
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  • edamonedamon Member Posts: 22
    Anyone know what the best money factor/residual value is on a 2011 Corvette coupe? 36/mo, 10K or 12K miles a year.

    US Bank is usually healthy, and apparently Ally's has has incentives.

    Look forward to any information.

    thanks,
    damon
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Damon. Through July 5th, Ally's base lease rate and residual value for a 36 month lease of a 2011 Corvette Coupe with 12,000 miles per year are 2.15% and 51%, respectively. The residual value for a lease with only 10,000 miles per year would be 1% higher.

    General Motors is currently providing a $500 cash incentive on leases of this car through Ally.

    Car_man
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  • rey7rey7 Member Posts: 2
    I just got quoted 54% residual on 36mo/30k for a 2011 1LT Coupe. But, dealer is saying the rate is 5.4%, or 0.0023. I called Ally and they said they don't control the rates or residuals - they only buy the contracts from the dealers for approved customers.

    Does anyone know what I can do to negotiate this rate? Seems kind of high for a new car... even if it's a lease! :confuse:
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey rey7. The dealer must be running your lease through a bank other than Ally. If he's really using Ally, its base lease rate for the 2011 Chevrolet Corvette in July is only 1.30%. It sure sounds to me as though the dealer that you are working with is attempting to mark up Ally's base lease rate to add additional, hidden back-end profit to your deal. This sort of thing is common amongst luxury dealers, like BMW, but less so with domestics. Perhaps the dealer is attempting the mark-up because you are interested in an expensive sports car like the Corvette. I would try negotiating further with this dealer, or trying to find a different dealer that is willing to lease you a Vette using the base rate.

    Car_man
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  • hairysodahairysoda Member Posts: 97
    Should i lease or buy a 12 or an 11
    I have loyalty money pus 1000$ in gm card oney. Is it beter to do an 11 or 12
    I also am thinking about buying an utilizing the rate.
    What can i expect them to discoint the car?
    Can i get tem to invoice on a 11 or 12.
    Pkease help me
    I want to lease for 36 mths and want 15k miles too
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hairysoda. If you really want to lease, you're going to have to go with a 2012 model because General Motors has pulled the plug on its lease support on 2011s.

    I am not personally all that familiar with what the market is like for the Corvette right now, but you might as well try for $500 to $1,000 over invoice and see what happens.

    Car_man
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  • haulin1haulin1 Member Posts: 9
    Believe it or not I just purchased a brand new 2011 GS Coupe (MSRP of $66380) for $54000 plus tax, title and documentation fees. I have purchased or have been directly responsible for the purchase of 11 vehicles from this dealership in a little over two years. I negotiate all deals directly with the general manager then he turns it over to the sales rep of my choice for paper work and delivery. You may not secure quite the deal I can, but they are very flexible. To the best of my knowledge Coughlin Automotive in Pataskala, Ohio is the largest Corvette dealer in the state.
  • kar_freakkar_freak Member Posts: 148
    Looking for MF & residual value for base corvette with 15k for 24 and 36 or 39 months.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kar_freak. Ally's November base lease rate and residual value for a 24-month lease of a 2012 Chevrolet Corvette Coupe with 15,000 miles per year are 4.4% and 55%, respectively. The numbers for an otherwise identical 36-month lease are 3.95% and 49%.

    General Motors is currently providing a $1,600 cash incentive on 24-month and a $1,350 cash incentive on 36-month leases of this car through Ally.

    Car_man
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  • bolivarbolivar Member Posts: 2,316
    edited November 2011
    Another way to possibly go? Someone on another forum talked about a '0% for 60 months' on buying a 2011 ZR1 Corvette. And, he was getting a significant discount from MSRP.

    $55,000 (which should get a nicely equiped coupe????) for 60 months is about $916 a month. Is a lease more or less? I don't do leases, so have no idea.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're right bolivar. General Motors is indeed providing 0% financing for 60 months on the 2011 Corvette. It's hard to go wrong with that.

    If you provide me with the MSRP and dealer invoice price (both of which are available here at Edmunds.com) of the exact car that you're interested in I would be happy to work up a lease payment on it for you.

    Car_man
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  • bolivarbolivar Member Posts: 2,316
    I've got as much Corvette as I need now. I was commenting on your comment to kar_krazy (or something like that) about some lease numbers. For 0% for 60 months and you then totally own a Corvette, I was just wondering what a 3 year lease on a $55,000 coupe would be.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ahhhh I see, bolivar. 0% for 5 years is a great deal. That's probably the way that I would go if I was in the market for a Vette today, though even at 0% the five year payment is still a whopping $917 before tax.

    Car_man
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  • fastdaddyofastdaddyo Member Posts: 1
    edited February 2012
    i leased a 07 corvette coupe for 5 years, and when it came time to end lease (D&M leasing Dallas) i got nothing in return. the lease agent was cold and indiferent. i was under the impresion that i would able to move up in class of corvette and payments would about the same. BBBBB.SSSSSS. i was not informed that i could turn in the vette at any local chevy dealership, which i did. they worked with me, payed off the balance (which the lease company doesn't tell you about at lease end). they pay off the balance of the lease and yu get nothin as far as a trade in. the book value of the car doesn't matter toward a new lease. yu start from scratch every lease. the dealer worked with the lease bank got the finance straight, took $7000.00 off my new 2012 gs vette and away we went. the lease company rate was 6.5% and chevy offered me 2.5% on 72 mo. save a lot money. i got the better car and have something to trade when i am ready. leasing was good years back but with the interest rates so low buying is the better option. just my opinon
  • kar_freakkar_freak Member Posts: 148
    Car_Man,
    Please provide MF and residuals for 2012 Corvette Grand Sport with 10k miles and 36/24 months.
    Thanks
  • kar_freakkar_freak Member Posts: 148
    Car_man,

    You there?? Can you please provide MF and resuduals for Corvette 1LT? I believe Ally is offering support for 39 months? Looking at 10k miles.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited June 2012
    I am kar_freak. Here you go.

    Ally's current base lease rate and residual value for a 36-month lease of a 2012 Chevrolet Corvette Coupe 1LT with 10,000 miles per year are 2.4% and 52%, respectively.

    The numbers for a 39-month lease would be 2.4% and 50%.

    As you can see, Ally published lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.

    Car_man
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  • honjohnhonjohn Member Posts: 1
    Hi Guys, does any one knows the rate and residual for 2013 corvette base coupe? Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Administrator Posts: 11,241
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  • kapkanimdkapkanimd Member Posts: 136
    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 Member Posts: 4,252
    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 Member Posts: 38,514
    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.

    Car_man
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  • quintopquintop Member Posts: 6
    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!
  • firsttimerpopsfirsttimerpops Member Posts: 1
    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 Member Posts: 38,514
    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.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • thedarkknight1thedarkknight1 Member Posts: 13
    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 Member 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 Member Posts: 12

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

  • MichaellMichaell Moderator Posts: 258,819

    @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 Member Posts: 83

    @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 Moderator Posts: 260,675

    They are probably selling all they can make.

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  • eddieg7408eddieg7408 Member Posts: 13
    Ally now has a lease program on the 2015 Corvette Stingray Coupe and Convertible. Kyfdx, do you have information on interest rate and residual for a 48 month 10K mile Ally lease on one? Thanks!
  • kyfdxkyfdx Moderator Posts: 260,675
    eddieg7408 said:

    Ally now has a lease program on the 2015 Corvette Stingray Coupe and Convertible. Kyfdx, do you have information on interest rate and residual for a 48 month 10K mile Ally lease on one? Thanks!

    Sorry.. we don't have current numbers, and we almost never get the Ally numbers. GM Financial didn't list a program for the Corvette, last month.

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  • Jim SJim S Member Posts: 4
    Michaell. now I'm looking at Corvette, specifically a Z06 coupe. The dealer has NEW 2017, 2018 and 2019 models of the car. What MF and residuals should I expect on those on a 24 or 36 month lease. I've never considered leasing a 1 or 2 year old new car so this one is new to me. The 2017 is being advertised at $15 K off while the 18 is about 10K off and the 19 is about 8K off on a purchase. Does it make more sense to lease the older one or newer one with these discounts? If I buy? Thanks, Jim
  • MichaellMichaell Moderator Posts: 258,819
    Jim S said:

    Michaell. now I'm looking at Corvette, specifically a Z06 coupe. The dealer has NEW 2017, 2018 and 2019 models of the car. What MF and residuals should I expect on those on a 24 or 36 month lease. I've never considered leasing a 1 or 2 year old new car so this one is new to me. The 2017 is being advertised at $15 K off while the 18 is about 10K off and the 19 is about 8K off on a purchase. Does it make more sense to lease the older one or newer one with these discounts? If I buy? Thanks, Jim

    We don't have any 2017 lease program numbers

    What trim level?
    How many miles per year?
    What ZIP code?

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