looking to lease
- Thread starter SBMIANO
- Start date
forget it.... The only lender left who will lease a Viper is US Bank, and terms STINK.... Leasing is done for at least 5-7 years, for most brands. Too many got burnt on res. values.
If you MUST lease... Expect a 1600-1800 payment on a 2009 Viper..
Buy one..
If you MUST lease... Expect a 1600-1800 payment on a 2009 Viper..
Buy one..
Lawrenzo
Enthusiast
Chrysler just announced that they are getting back into leasing through their "connection" (ie Gooberment Cerebus rescue tie-in debacle) with GMAC. Check with one of our sponsoring dealers for the details.
redtanrt10
Enthusiast
The new GMAC program for Dodge's will be worse than the banks, GMAC isn't agressive and I doubt Dodge will subsidize a viper lease. WSJ said yesterday Cadillac leases from GMAC **** and is killing Cadillac business with a lease share of 5% vs. the luxury segement at 30% plus.
Try these guys, they will find a deal with some of the banks, but only US Bank is doing anything outside of the captives. I just looked up a 36 month lease on and '09 vert, residual is only 42% and the rate factor is about 6.5%.
Compare Car Lease and Auto Loan Offers - Instantly#
Try these guys, they will find a deal with some of the banks, but only US Bank is doing anything outside of the captives. I just looked up a 36 month lease on and '09 vert, residual is only 42% and the rate factor is about 6.5%.
Compare Car Lease and Auto Loan Offers - Instantly#
ferraritoviper
Enthusiast
Got a 36 month lease on my 2009 with US Bank this May in middle of the crunch...$1,500/mo. with $39.5k buyout at end, or turn it in. Had to provide two most recent years W-2. The dealer credit app to US bank always gets rejected. They want substantiating verification. P/S: I read somewhere Chrysler is back in the lease biz.
adamlotus
Enthusiast
my 08 lease is 1850 a month and that is a 3 year lease through chrysler last year.
Sellshomesdrivesviper
Enthusiast
Wow, how many bedrooms and baths, and does that include a pool?
Newport Viper
Enthusiast
$1850 LOL....in CA that rents you a 2b2b Newport Bluffs – Newport Beach Luxury Apartment
Oh wait, I mean one bedroom!
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redtanrt10
Enthusiast
Yea, but didn't you pay MSRP, and, roll $5K of negative equity from your trade?
CitySnake
Enthusiast
WOW! Now that man really LOVES his viper! That seems to be astronomical. I'd strongly consider a purchase based on that payment. At $1,850 a month it would take approx 56 payments to own the car (depending on interest rate).
adamlotus
Enthusiast
yes it was at msrp i paid the negative equity out of my pocket it was a 36 month lease,not a smart move on my end
Chrissss
Viper Owner
Absolutely run from a lease.
YellowViperSRT10
Enthusiast
why?????? so you can take a 20 grand hit on a new car in less then a year? with a lease that is not your problem.... I would have HATED to buy my 08 for MSRP at the time when i leased mine for MSRP, especially since now you can get a new viper in the high 60s....
WHY because IF you can find someone to lease you a Viper the resid -money factors ect are going to be so far towards their favor (as RON said at the end of the term the leasing institution HAS TO MAKE SURE it will not get burned )that its not worth it .To me paying over 60 K in 3 years for a car you have to give back to a leasing company is crazy.Remember with a lease you in lock down for the entire term also are the taxes figured in that payment amount.
Flexx91
Viper Owner
You are taking a hit anyway due to the residual value. Why do you think the lease payments are so high and some of them are requiring 20% down?
pick your poison.... A new car is a depreciating asset anyway you slice it..... Do you want to finance that depreciation, and lease it.. Or do you want to write a check, and take it on the chin.. Weather you choose to sell it in 1 year, or keep it for 20 is not relevant. If the same vehicle can be replaced today for "x" amount less, than you paid.. That is the new market for the car.. And that equity is dimminished. Without even getting into numbers, its that simple. Its just a personal decision.
In a normal market, vipers hold their value very well, so leasing usually isn't the best option, because the residuals are way to low. But for Mercedes,BMW,etc,etc. Its the only way to go.
In a normal market, vipers hold their value very well, so leasing usually isn't the best option, because the residuals are way to low. But for Mercedes,BMW,etc,etc. Its the only way to go.
adamlotus
Enthusiast
this was my 5th viper after this one, im done for a while ,i have taken huge hits on each one this is the first one i leased,the ssg were going for 90-93k now same car new can be had for low 70s in 1 year thats a 20k plus hit already by 2011 these cars will be worth low 50s maybe 40s.for the same price i paid for my viper in 2008 i can buy a nice 360 spider for less
In the overall picture FIRST OWNER either way takes the BIG HIT.One is much better off buying a low mileage Gen 4 a year or so old( available in the mid to low 60s ).No matter how you slice it ANYONE who paid at or near sticker for a GEN 4 is behind the 8 ball.
Believe it or not they are more like mid 60s as a friend of mine is close to buying a loaded SSG Coupe with 3500 miles for 64000.
Only reason to lease instead of buying is if you can write it off somewhere. Holy ^%#* 1850 a month for a car payment? WOW Buy one a year or less old (some people don't appreciate the power), and let them take the big depreciation hit. 1850--double WOW. I reall must be poor.
Last time i checked belive around 40 k or so can be writen off as business expense but unless your in the auto business dont think they are going to buy the use of a Viper as a BUSINESS CAR.
Tony2
Enthusiast
I agree with the not to lease side of the crowd, I don’t see the point of paying all that money and not have anything to show for it at the end of the term. Aside from certain vehicles being leased for business I just see it as a way for a lot of individuals (Not all) to get into more car than they can really afford. Society has become a how much will it cost me per month scenario over how much does it cost.
Plain and simple for me these are toys, mind you I don’t have a Gen 4 and not as much $$ into mine as some of you do, but I am from the camp of pay cash for my toys, did the same with our Motorhome.
Tony2
Plain and simple for me these are toys, mind you I don’t have a Gen 4 and not as much $$ into mine as some of you do, but I am from the camp of pay cash for my toys, did the same with our Motorhome.
Tony2
Well then you'll love this.. A few examples of "actual" leases. NOT done at MSRP either.
2009 Lamborghini LP640- $4856/month WITH $25,000 down
2009 Mercedes CL65 - $3285/month WITH $15k down
2008 SLR Merc. - $4214/month WITH $15k down
Had enough?
adamlotus
Enthusiast
that was me with the last 5 years of car buying.i leased a gallardo spyder for 4100 a month ,had a murci also.my next car i need to be at no more than 2 k above wholesale or im not interested.some people have more dollars than sense
I have the 06 viper which was a wire transfer (cash) and wifes 07 Aspen (hate that name) which is over 6k GVW and I can write to my company. Payment on that is only 590 a month. I couldn't sleep with payments that large. BTW--insurance on the Viper is 763.00 a year, full coverage. I also have my daily ******--an 01 Hyundai Elantra I paid 500 for (blown head gasket). One owner with 81K miles.
Great points ,in this market find out what wholesale is (Manhilm report-Galves ECT )and go from there .
Question though- IF they catch you trying to write a Viper off as a business expense(no matter the payment ) doesnt it throw up a red flag .
1BAD--I've never written the Viper off as an expense. I have written off several SUV's over 6k GVW since I own a sub-S corp. That's legal. Years ago when I could pass a flight medical, I asked my accountant if I could write off a plane since I own a condo in Fl. NO WAY was his reply--darn it!
A buddy of mine years ago started a race team corp for his Viper (NO BS ) tangable factor is could he win ENOUGH money racing his VIPER to justify a business ect .(Personally i thought he was nuts to try such a thing but to each his own ) LOL.
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