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re: About to lease a car...any tips before I pul the trigger?
Posted on 5/26/14 at 7:54 pm to GeeOH
Posted on 5/26/14 at 7:54 pm to GeeOH
It's not my ideal situation but taken at face value, it seems like a reasonable option.
$170/month for 3 years doesn't seem to be out of line and factoring in dealership fees and other misc stuff, the total cost for the lease term is a little over 9K.
All that being said, if there's any insider info you'd like to share to keep me from getting screwed, then I'm all ears.
I just don't want to go into this situation blind, considering I've never leased a car before.
$170/month for 3 years doesn't seem to be out of line and factoring in dealership fees and other misc stuff, the total cost for the lease term is a little over 9K.
All that being said, if there's any insider info you'd like to share to keep me from getting screwed, then I'm all ears.
I just don't want to go into this situation blind, considering I've never leased a car before.
2
Posted on 5/26/14 at 8:10 pm to iAmBatman
Why not just buy a $9k car and at the end of 3 yrs, you actually own something that you will probably be able to drive a good bit longer. I'd imagine you can get a safe and reliable car for $9k
Posted on 5/26/14 at 8:24 pm to iAmBatman
The Mazda3 is a nice choice. They are built in Yamaguchi Province in Japan. The question I would ask myself is "Where will I be on the vehicle at the end of 36 months?" Equivalent 2011 and 2012 Mazda3s with < 45k miles are worth $13,500 to $14,500 right now. There's no reason to think your vehicle in three years will depreciate differently.
Leases only work if a person can deduct the cost (or part of the cost) of the lease for business purposes. The leasing agency ALWAYS structures a lease to protect themselves and for them (not you) to win at lease termination. Buy the vehicle and (maybe?) trade it in when she finishes, you'll have equity in it versus the lease. After the lease you'll only have cancelled checks and possibly additional costs for excess wear and tear.
A lease for the average Jane or Joe is a loser.
Leases only work if a person can deduct the cost (or part of the cost) of the lease for business purposes. The leasing agency ALWAYS structures a lease to protect themselves and for them (not you) to win at lease termination. Buy the vehicle and (maybe?) trade it in when she finishes, you'll have equity in it versus the lease. After the lease you'll only have cancelled checks and possibly additional costs for excess wear and tear.
A lease for the average Jane or Joe is a loser.
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