LS1GTO Forums banner

1 - 7 of 7 Posts

·
Registered
Joined
·
75 Posts
Discussion Starter #1
Finally got settled in the new home in Texas this past weekend, went out today and bought my Red/Red MN6 GTO, gotta love it!

I got GMS pricing ($29,845) and did a 3-year Smartbuy with $2000 down, which put my payments right at $400/month - 5.50% interest rate with a $17,900 residual.

Make sure that the F&I guys at the dealership look up the new Smartbuy residual rates, which have been incentivized just over the weekend (and is covered in another thread in this topic) because most of the F&I systems were not updated due to the holiday weekend.

Now, off to the mods!
 

·
Registered
Joined
·
417 Posts
whats the residual rate mean. I know that the residual is whats leftover to pay at teh 3 years, but whats better, a lower or higher residual. also, do they negotiate any of this stuff like payments, or interest rate?
 

·
Registered
Joined
·
417 Posts
also, with his residual at $17,900, is that basicly GM saying that the car will be worth that amount of money after the 36 months? is that realistic?
 

·
Grumpy Old Man
Joined
·
393 Posts
kjac081 said:
also, with his residual at $17,900, is that basicly GM saying that the car will be worth that amount of money after the 36 months? is that realistic?
yes. Residual is the amount they think it will be worth at the end of your term. You want that high so that you're paying less over the 4 years, however, that's what you have to finance after 3 years if you want to keep the car (or make one big payment of cash :eek2: ) or you can pay $250 and just say "take it away" (but it better be in good shape and stock)
 

·
Growing up is an option
Joined
·
17,296 Posts
merry motoring man!
 
1 - 7 of 7 Posts
Top