$650 a Month C8

[Lewsthomas]

Was talking to my bank this afternoon on my loan and they told me about this option.

I may just do it for 3 years and then upgrade to the E-Ray.

So I did a little research and put this video together.

[John]

Thank you. That is interesting especially if one’s business or other financial factors make it a positive option. I have never leased anything or done anything like this, so I am ignorant in this area.

[JB]

Interesting. GIve or take a few dollars 8 grand a year for a 60 grand corvette equals 24 grand over 3 years plus the 41000 residual value would equal 65 grand total cost pls tax tag and licensing ...if no down payment is required. I might have missed that in your youtube video.

then at the end of three year period the owner can turn the vehicle over to the finance company or take out a loan to pay off the balloon payment or sell the vehicle for more than the 41 grand agreed upon value at time of signing.


not terrible. I just paid for mine in full when i picked it up a few months back but this isnt a bad option. Also whats nice is you can sell the vehicle early as well if you decide you want the c8 z06 or e ray or whatever.

i didnt even bother exploring finance options but I understand the rates were very low for those who did finance their cars... something like 1.99 percent was something I believe a few members here choose?


thanks for posting up. Maybe it will be an option some corvette consumers will enjoy exploring.

[DavidM]

I have never leased anything. Not really into payments either. Friends that lease cars seem to like the turn it in at the end of the lease part more than anything else.

[JB]

I lease my better halfs vehicles these days. By my calculation the 33 to 36 percent of ksrp that her subvented leases cost me plus the fact that about every 33 months i get to talk cars with her is fun.

the autistic kid likes to turn all the showroom cars emergency flashers on so its a good time for all...

i never have a repair, i never buy tires and she is always covered under warranty..lits just easier.

for those leasing a website like www.leasehackr.com gives a good indication of what can be achieved.

multitude of brands and trucks like toyota tacoma sr5 s at zero down 187 a month is crazy. Lexus rx350 under 450 a month...camaro v8s at 274 down 274 a month...

volvos at 209 a month ? No money down except tax and tags and bank fee..


if you dont mind not buying the hottest thing subsidized leasing for the better half rocks.

one less headache and your a hero every 2 or 3 years..lfor a couple of months..

[Lewsthomas]

I enjoy leasing. I am not a very sentimental car owner, I like to have the latest and greatest but I will not do a down payment over $250. I just look at my lease payments as a fun tax lol. Some people pay for the country club as their fun tax, we cruise the oceans (Friggin covid) and roll on the highways.

[tkracing1]

I enjoy leasing. I am not a very sentimental car owner, I like to have the latest and greatest but I will not do a down payment over $250. I just look at my lease payments as a fun tax lol. Some people pay for the country club as their fun tax, we cruise the oceans (Friggin covid) and roll on the highways.

I do the exact same thing... after 3 years we can check out the next best thing. Write off for business...

[Plentyfast]

I enjoy leasing. I am not a very sentimental car owner, I like to have the latest and greatest but I will not do a down payment over $250. I just look at my lease payments as a fun tax lol. Some people pay for the country club as their fun tax, we cruise the oceans (Friggin covid) and roll on the highways.

That makes Leasing a better option for you, but at the rate of wait time to delivery, you must have to placing deposts every other year.

[MidLyfCrysis@36]

Was talking to my bank this afternoon on my loan and they told me about this option.

I may just do it for 3 years and then upgrade to the E-Ray.

So I did a little research and put this video together.

this may not be a good move, check out the many reviews (pros and cons) of this type of financing...or maybe you have.....that video is not being 100% honest in the end about the end of term options...

[MidLyfCrysis@36]

I've been considering leasing this vehicle from jump street because I live in North East...I'll be able to drive this car for only a good 5 months out of the year... although I have 3 other vehicles, I can't imagine keeping this vette for more than 3 years....
Are they even providing lease options for this vehicle....i was just sold on having to settle and buy it then sell it later...I'd prefer to just walk away when I'm done.

[Lewsthomas]

this may not be a good move, check out the many reviews (pros and cons) of this type of financing...or maybe you have.....that video is not being 100% honest in the end about the end of term options...

What part do you think is misleading?

I am passing on the exact info that my credit union passed on to me. Just throwing options out there.

[MidLyfCrysis@36]

What part do you think is misleading?

I am passing on the exact info that my credit union passed on to me. Just throwing options out there.

totally understood...this does seem like a great option. one that I had no knowledge of prior to seeing your og post. While researching and speaking to a credit union rep...the downside to this type of lease is that:
you will have to make huge lump sum payment of the value of the car after the lease is up
you can not just decide to turn it back in and wash your hands of the vehicle, they want you to pay the value of the vehicle either a one shot deal or finance again

The only "out" appears to be is just to sell the vehicle, unless you have the value in cash...if the person does not have the cash they are in a pile ****
this is my opinion as a consumer who can not justify buying a vehicle that I can only use for possibly 5 months out of the year...

Let me know if you have a differing opinion...either way I'd love to keep my payment under 650 with out having to put down 30-40% which I initially intended.

[Rockets]

totally understood...this does seem like a great option. one that I had no knowledge of prior to seeing your og post. While researching and speaking to a credit union rep...the downside to this type of lease is that:
you will have to make huge lump sum payment of the value of the car after the lease is up
you can not just decide to turn it back in and wash your hands of the vehicle, they want you to pay the value of the vehicle either a one shot deal or finance again

The only "out" appears to be is just to sell the vehicle, unless you have the value in cash...if the person does not have the cash they are in a pile ****
this is my opinion as a consumer who can not justify buying a vehicle that I can only use for possibly 5 months out of the year...

Let me know if you have a differing opinion...either way I'd love to keep my payment under 650 with out having to put down 30-40% which I initially intended.

I agree, we need to look at the balloon payment at the end of the term. Let say the monthly payment is $650 and after 60 months the final payment is $30,000. Is your vehicle worth $30,000 after 5 years? I tend to keep the car for a long time, especially this C8 will be my first corvette. Like MidLyfCrysis, i will try to put down as much as I can and try to pay it off as soon as I can afford.

[Lewsthomas]

I think there is some miss-understanding going on. If you start the video at the 17:40 mark they talk about the "Walk Away Option" Let me know what you think.

[jimmyb]

PenFed Payment Saver is NOT a lease, you are BUYING the car. The guy doing the video KEEPS saying LEASE...again, it is NOT. At the end of the loan, you CANNOT just walk away (like a lease). You are BUYING the car, so at the end of the term, your choice is to SELL the car and
1. Pocket any money OVER the balloon amount or add any money out of pocket to if you owe more than the final balloon payment (upside down)
2. Pay the balloon payment and keep the car.
3. Trade the car and #1 applies

I have done 2 PenFed Payment saver loans (my 2014 C7 and my 2021 C8)

The video after the finance guy is NOT about PenFed Payment Saver loans