2019 GT1 AWD Lease Offer - Need advice

[stingerdude77]

Hey All - Caught the stinger bug a couple of months ago and have been hunting for a lease now for a bit. I've read a lot about the difficulty and comps on these leases..i.e. what else you could lease for a similar price but am pretty set on Stinger - awesome car. Have talked to a few dealers in the midwest and pricing seems all of the place....I've seen ~$670 on a GT2 and $450 on a GT1 in a color I did not want ($3-4K) down in those scenarios). Anyway...here are the terms on a ceramic silver GT1 AWD I'm looking at right now -

36mo/ 12k miles: $518 a month

Retail: $49.5K
Sales Price: $46.6K
Gross cap cost: $48.6K
Rebate" $6.9K
Cash down: $3K
Net Cap cost: $38.7K
Residual 52%

Thoughts / advice / comments all welcome....my hope was to get under $500 without putting any more than $3K down. Any success stories?

 

[Travis Wills]

Don’t put any money down at all on a lease. You are just prepaying those payments.

Honestly, I wouldn’t lease the Stinger. The money factor(interest rate) is just too high. I know everyone says there is extra rebate money but I am not convinced that is the case.

I have seen up to $6750 in rebates with a traditional loan and as much as $6000 in rebates with a zero percent interest traditional loan on the Stinger. The interest alone on these cars can be over $4000.

Also the resell value on the Stingers is actually extremely good. It is one of the only cars you can purchase and get above water on in a couple of years or less.

Don’t automatically think that a bigger discount on a lease makes it better than a no interest loan. You still have to pay the acquisition fee and buyout/turn-in fee that you wouldn’t have with a traditional loan. That can be an extra $1,000.

Also don’t think that a lower lease payment is always better than a higher loan payment.

With zero interest you accumulate equity quite fast with the Stinger. You may pay $100-$200 a month more with the loan but every dime of that goes towards equity.

The only time to do a lease with the Stinger is if you plan on buying out the lease right away to avoid all interest fees. In that case you are better off doing a 10k Miles 24 month GT2 AWD lease because that gives you the most lease trunk money.

My goal is to get into a zero interest loan with nothing down for $44k out the door on a 2019 AWD GT2 later this year. Some people have done it this year but I think it will be much easier to do it closer to Christmas.

 

[MerlintheMad]

Buyout fee is $300. Financing was only $950 rebate when we did this last year. Lease incentive was $5,900. But I do think that the buyout is a hassle and won't net you anything if you have to borrow from a credit union to pay back the buyout amount. We paid cash to do the buyout and that's really the only clear advantage to leasing and then buyout.

 

[stingerdude77]

Don’t put any money down at all on a lease. You are just prepaying those payments.

Honestly, I wouldn’t lease the Stinger. The money factor(interest rate) is just too high. I know everyone says there is extra rebate money but I am not convinced that is the case.

I have seen up to $6750 in rebates with a traditional loan and as much as $6000 in rebates with a zero percent interest traditional loan on the Stinger. The interest alone on these cars can be over $4000.

Also the resell value on the Stingers is actually extremely good. It is one of the only cars you can purchase and get above water on in a couple of years or less.

Don’t automatically think that a bigger discount on a lease makes it better than a no interest loan. You still have to pay the acquisition fee and buyout/turn-in fee that you wouldn’t have with a traditional loan. That can be an extra $1,000.

Also don’t think that a lower lease payment is always better than a higher loan payment.

With zero interest you accumulate equity quite fast with the Stinger. You may pay $100-$200 a month more with the loan but every dime of that goes towards equity.

The only time to do a lease with the Stinger is if you plan on buying out the lease right away to avoid all interest fees. In that case you are better off doing a 10k Miles 24 month GT2 AWD lease because that gives you the most lease trunk money.

My goal is to get into a zero interest loan with nothing down for $44k out the door on a 2019 AWD GT2 later this year. Some people have done it this year but I think it will be much easier to do it closer to Christmas.

Thanks for the thoughts Travis....Understand the advantage of buying you laid out....for me personally I more attracted to leasing just so I can have a fun car for a few years and then move on and not deal with selling it etc. although I'd probably end up wanting to keep it I'm sure! So leasing is more convenient for me personally....but it sounds pretty clear that these are not leasing very attractively....honestly the car is worth it...it's a beast and looks incredible....turns more heads than an $80k BMW or Audi IMO....just feels like $500-$600 lease on a discount sales price of ~$40K is high

 

[Travis Wills]

For reference I am shooting for a payment of approximately $665 a month with a zero percent interest loan on an AWD GT2 and no money down. However, that will be later this year so things definitely will be different then.

 

[captainstevo]

Good luck, lease cash is pretty good right now. Aside from that, residuals are pretty poor on this car...other brands seem better for leasing that hold their value a little better. But I get your points on the benefits. I too just caught the Stinger bug, but am trying my best to hold off for a couple years for a low mileage used one. We'll see if that happens

 

[Travis Wills]

Good luck, lease cash is pretty good right now. Aside from that, residuals are pretty poor on this car...other brands seem better for leasing that hold their value a little better. But I get your points on the benefits. I too just caught the Stinger bug, but am trying my best to hold off for a couple years for a low mileage used one. We'll see if that happens

Residuals and actual resell values rarely have anything to do with each other. The worst resell value car I have ever leased was the MB CLA250. It was $7,000 underwater when I turned it in. It had a 65% residual.

The Stinger residual is low but it’s resell value is extremely good. I would purchase or finance the Stinger. Leasing the Stinger only makes sense if you plan on buying it out immediately with cash.