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Started By
Message
Thinking about leasing a vehicle
Posted on 12/22/16 at 9:05 pm
Posted on 12/22/16 at 9:05 pm
Anyone on here have any experience with leasing? We are typically getting a new vehicle every 3-4 yrs so it seems like it makes sense to lease and have a much lower note.
Any advice?
Any advice?
22
Posted on 12/22/16 at 9:06 pm to Riggins
Can't help you. We buy vehicles to keep for 10 years
Posted on 12/22/16 at 9:08 pm to Riggins
Not bad idea if you don't drive many miles
Posted on 12/22/16 at 9:08 pm to Riggins
If it was really a good deal for you the dealers wouldn't offer it.
Posted on 12/22/16 at 9:08 pm to Riggins
Leasing only makes sense when you know exactly how much you will drive the car.
Posted on 12/22/16 at 9:08 pm to Riggins
Don't do it. Did it once and lost my arse when I didn't keep it length of the lease. Had to trade it in because I was killing the miles and was gonna lose either way. I will never do it again.
Posted on 12/22/16 at 9:09 pm to Riggins
quote:
getting a new vehicle every 3-4 yrs
Why?
quote:It makes no sense to buy cars every 3-4 years
so it seems like it makes sense to lease
Yes do a lease
Posted on 12/22/16 at 9:09 pm to Riggins
I've leased since 2003. Wouldn't do it any other way.
Although I drive less than 10K miles a year. I like having a new car every few years.
Although I drive less than 10K miles a year. I like having a new car every few years.
Posted on 12/22/16 at 9:11 pm to meddizzle
i leased a vehicle that i knew i only wanted to drive for 2-3 years and i had a good idea how many miles i would drive. It worked out fine.
If you know what your getting into (if you want it short term or long term) and have a relative idea of miles it can work out fine
If you know what your getting into (if you want it short term or long term) and have a relative idea of miles it can work out fine
Posted on 12/22/16 at 9:11 pm to Riggins
quote:
We are typically getting a new vehicle every 3-4
gotta keep up with those damn Joneses
Posted on 12/22/16 at 9:12 pm to Riggins
Because my wife always insists on driving a new car every 3 years I lease for her. Basically you flushing money down the toilet but at least it's a lower note and you're not getting fricked by instant depreciation. Because god forbid this uppidy woman drive a car that isn't new off the lot. All in all it's been a painless choice for me. One of those things where you value your time more than your money. Her cars are always under warranty so almost never have to pay for major failures. I actually do buy the rim warranty because she ruins a rim per year.
Posted on 12/22/16 at 9:13 pm to WG_Dawg
knowing how many miles you will drive is critical...
Posted on 12/22/16 at 9:13 pm to Riggins
quote:
We are typically getting a new vehicle every 3-4 yrs so it seems like it makes sense to lease and have a much lower note.
It isn't quite that simple. You also need to consider the mileage. I'm in bed on my tablet so I can't get terribly in depth, check back tomorrow and I'll do a write up. This question comes up very often and a lot of people have very large misconceptions about leasing, so I will hopefully put the matter to rest.
ETA: Write up on page 3.
This post was edited on 12/23/16 at 9:43 am
Posted on 12/22/16 at 9:13 pm to Riggins
Lease is solid for someone that likes moving in and out of vehicles every 3 or 4 years and drives relatively low miles.
You pay for the portion you use. The manufacturer does a pretty good job of figuring the value of the vehicle with term/miles used. You pay a lower monthly note than a standard 60 month note with comparable money down, but you need to stay close on the miles because they usually cost about 20 cents per mile over. You also need to be good at keeping dents and interior damages because that can cost you. I'm 8 moths away from the end of a lease on a luxury vehicle and I have the option to buy it for the remaining balance, turn it in and walk away, sell it private party for more than lease end value, or trade into a new lease without arguing over market value. Usually maintenance is cheaper or free and you stay under warranty through entire lease.
If buying luxury, it's almost mandatory.
You pay for the portion you use. The manufacturer does a pretty good job of figuring the value of the vehicle with term/miles used. You pay a lower monthly note than a standard 60 month note with comparable money down, but you need to stay close on the miles because they usually cost about 20 cents per mile over. You also need to be good at keeping dents and interior damages because that can cost you. I'm 8 moths away from the end of a lease on a luxury vehicle and I have the option to buy it for the remaining balance, turn it in and walk away, sell it private party for more than lease end value, or trade into a new lease without arguing over market value. Usually maintenance is cheaper or free and you stay under warranty through entire lease.
If buying luxury, it's almost mandatory.
This post was edited on 12/22/16 at 9:16 pm
Posted on 12/22/16 at 9:15 pm to BeerMoney
Oh and she drives like 10k miles per year. So low miles
Posted on 12/22/16 at 9:17 pm to Riggins
Better make sure you dont drive more than 12,000 miles a year or the dealership will rape you in mileage fees for every mile you're over when you turn the car in
Posted on 12/22/16 at 9:19 pm to Rover Range
quote:
If buying luxury, it's almost mandatory.
If you're essentially having to rent your car simply because it's a "luxury" vehicle so you can show off to your friends, chances are you probably aren't in the financial shape to be doing that in the first place.
Posted on 12/22/16 at 9:20 pm to Riggins
We are thinking about this also
Posted on 12/22/16 at 9:21 pm to Tiger Prawn
quote:
Better make sure you dont drive more than 12,000 miles a year or the dealership will rape you in mileage fees for every mile you're over when you turn the car in
Um... or you can do a higher mileage lease or add miles to your plan with a small payment adjustment. But one way to look at is this- the vehicle is going to depreciate whether you lease or buy. Yes if you keep a vehicle a couple of years past the payoff date, you can come out ahead. But the fact is, 90% of you baws trade your truck in before you make your last payment. So essentially you leased it from your bank and never owned it anyway.
Posted on 12/22/16 at 9:22 pm to WG_Dawg
quote:
If you're essentially having to rent your car simply because it's a "luxury" vehicle so you can show off to your friends, chances are you probably aren't in the financial shape to be doing that in the first place.
Sir I'm in uppermangement of a luxury dealership in a pretty large market. My president leases his vehicle. I leased a many a multimillionaire. But you seem to know all about getting rich.
This post was edited on 12/22/16 at 9:32 pm
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