[Jack07]

Is there a way to look up how long a car has been sitting at a dealership using the VIN?

Also, can residuals change from different dealers? Even in the same area.

 

[Challey Cat]

Is there a way to look up how long a car has been sitting at a dealership using the VIN?

Also, can residuals change from different dealers? Even in the same area.

You can call and ask a salesman to go look at the born on date on the door jamb placard. I don't know what you mean by the residuals question. Can you elaborate?

 

[Jack07]

You can call and ask a salesman to go look at the born on date on the door jamb placard. I don't know what you mean by the residuals question. Can you elaborate?

Good to know. Thank you.
When leasing they use a residual % to basically calculate what the car would be worth at the end of lease. They change every year and are different based on how many years you are leasing.
Ex: MSRP - 90,000
Residual 65% for a 36 month lease
90,000 x 65% = $58,500 - so technically the car would be worth 58,500 at the end of the 3 years. The higher the residual the better your payments will be.
I have gotten 65, 62, & 59 so far. I thought they were set numbers but now that I am getting different ones,I’m not sure how they fluctuate.

 

[Challey Cat]

Good to know. Thank you.
When leasing they use a residual % to basically calculate what the car would be worth at the end of lease. They change every year and are different based on how many years you are leasing.
Ex: MSRP - 90,000
Residual 65% for a 36 month lease
90,000 x 65% = $58,500 - so technically the car would be worth 58,500 at the end of the 3 years. The higher the residual the better your payments will be.
I have gotten 65, 62, & 59 so far. I thought they were set numbers but now that I am getting different ones,I’m not sure how they fluctuate.

I'm thinking the current high kelley blue book value on used cars has something to do with it. My wife works at a chevy dealer and people are currently getting money back when they turn in their 3yr lease.