Crimson

My friend and I were discussing whether or not he got royally screwed leasing his corvette last year.

Last year he leased a new black corvette Vert with no special options (no nav etc). His lease for the 2007 vette is 700 a month over 5 years nothing down. That is 42k over 5 years. I told him next time bye it for 700 a month over 6 years and I'll take over payments for the 6th year.

How much would a 5 year old vette fetch with 50,000 miles on it?

01ssreda4

iTrader: (96)

20 to 30k?

LS184

iTrader: (7)

if t were in good condition i whould say higher 20's to low 30's

venomhp

iTrader: (13)

27-30k depending on condition and market

StuntmanMike

iTrader: (2)

Sounds like a shitty deal to me. After 5 years he's paid 42k, and has to give the car back? So then he has nothing to show for his 42k?

If he had waited 1 year he could have most likely BOUGHT the same '07 Vert for 42k, and then had a car to show for his money after the five years.

Just my .02 though. I'm not really a fan of leasing.

5SiX1

iTrader: (2)

it's good for people who like to trade in their cars a lot, i can see it's high side. but for someone making 5 years of payments, you're better off doing financing and just paying it off.

KENS_SS_4

If it is a tax write off for his own business, not bad. If it is a privately owned and operated car , he is an idiot.

NC01TA

Long leases equals great deals for dealerships. Making payments for 5 years and owning NOTHING??? Think about it. Ouch!!

JosephIV

iTrader: (14)

^^^Yep, kicking out cash with nothing to show for it sucks. Not too many people brag about leasing a BMW,Vette,Mercedes etc but many people brag about driving them