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From my experience with OC so far, the current rate is 4% in Illinois. That's based on inquiring with several Chicago dealers independently, so I'm pretty confident that it's an accurate figure for April. But not sure if the rate would be the same in TX.
Apparently the OC rate keys off the lease rate somehow (obviously it's quite a bit higher), not the regular finance rate. I was able to get it down to 3.5 based on my credit score, but not sure if that's a standard thing.
I will say that, at least here, I probably would have gone with leasing if it weren't for the terrible taxes that Chicago and Cook County impose on leases (not only higher rates, but also an 8% extra tax on top of each monthly payment). With max MSDs, the payments worked out to be about the same, but at least with OC I wouldn't have to tie up several thousand bucks or pay anything up front. If all you have to deal with is including the full tax in the cap cost, not sure OC will really pull ahead. Unless TX also would charge you tax again if you chose to buy at the end of the lease period, which is what IL does... then OC might still be better.
For someone who just wants a straight-up lease with no desire to buy at the end, I really don't see how OC is worth it unless you're living in Chicago. lol
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