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OT auto lease folk - the website says $199 / month. I'm getting quotes at ~$400+ / month

Posted on 6/23/22 at 4:53 pm
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
39856 posts
Posted on 6/23/22 at 4:53 pm
What is this sorcery?

Dealers say the $199 is a "national" price and doesn't include x, y and z and blah.

My kid is looking for an inexpensive option to go back and forth to work. He's temporarily in another state and we don't want to deal with repairs, etc.

What are options when dealing with a lease? I've never done one and neither has he.

Any recommendations appreciated. TIA!
Posted by Oates Mustache
Member since Oct 2011
22049 posts
Posted on 6/23/22 at 4:53 pm to
No down payment changes the note pretty significantly.
Posted by Buckeye06
Member since Dec 2007
23111 posts
Posted on 6/23/22 at 4:54 pm to
Yea the fine print on leasing a car is the biggest part there is. Usually that $199 will be with like $5k own and one of your testicles included at signing
Posted by diat150
Louisiana
Member since Jun 2005
43468 posts
Posted on 6/23/22 at 4:55 pm to
Check out leasehackr.com forum to find the best deals. I saw where nissan trucks were leasing pretty well for 18 months a while back.

Leasing hasnt been that great since covid wrecked the supply chain.

Leasecompanion.com is a company that helps people get in good leases. Working with a broker like them costs you a few hundred but guarantees you a good deal. Otherwise, go to leasehackr and study up on what makes a lease a good deal. Not every vehicle leases well.
This post was edited on 6/23/22 at 4:57 pm
Posted by Breauxsif
Member since May 2012
22290 posts
Posted on 6/23/22 at 4:55 pm to
The advertisement you are most likely seeing is for a base model of whatever car you’re looking at for $199/month, leased. Also, be careful regarding these ads as they do not include sales tax on the lease payment every month.
This post was edited on 6/23/22 at 4:56 pm
Posted by cbree88
South Louisiana
Member since Feb 2010
5264 posts
Posted on 6/23/22 at 4:56 pm to
Don’t sign the lease?
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
39856 posts
Posted on 6/23/22 at 4:59 pm to
I shoulda added - the car website said $3k at signing and $199 / month.

The quotes are like $2k at signing and $420 / month.

This is in California, so lord knows what fees / taxes are being added on.
Posted by Broken Coyote
Seated. Facing forward
Member since Dec 2010
3050 posts
Posted on 6/23/22 at 4:59 pm to
The 1,99.00 is a hook that only a fool would sign, just to get you in the door. The restrictions are insane. Had a salesman tell me, you don’t want to do that.
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
39856 posts
Posted on 6/23/22 at 4:59 pm to
quote:

Check out leasehackr.com


Thanks!
Posted by jcaz
Laffy
Member since Aug 2014
15545 posts
Posted on 6/23/22 at 5:00 pm to
ONLY $200 A MONTH LEASE!

*includes $18,000 down payment and 100 mile annual usage. Mileage over 100 miles will be charged a penalty of $3.50 per mile.
Posted by Vamos Brandonos
Member since Mar 2022
1021 posts
Posted on 6/23/22 at 5:00 pm to
Only poor people rent, and renting keeps them poor.
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
39856 posts
Posted on 6/23/22 at 5:02 pm to
I knew the base would be some sort of "we only had one at that price" hook - but nearly double has been an eye opener.

He just needs a base car to piddle around town to work and gamer shops and massage parlors prolly.
Posted by diat150
Louisiana
Member since Jun 2005
43468 posts
Posted on 6/23/22 at 5:05 pm to
quote:

Thanks!


look for a user named clutch on leasehackr and tell him you want something cheap in CA. he will hook you up. these guys work with dealers all the time and have dealers they work these deals thru.

might be abe to get something like a leaf for 200 a month.
This post was edited on 6/23/22 at 5:07 pm
Posted by Tortious
ATX
Member since Nov 2010
5132 posts
Posted on 6/23/22 at 5:15 pm to
Lease can be a good deal if you hit mileage right and have a good residual value. Can't remember the exact term it's called, but there is an equivalent to a finance charge on a loan. Those 3 are the real factors that make the deal.
Posted by BuckyCheese
Member since Jan 2015
48840 posts
Posted on 6/23/22 at 5:26 pm to
199/month would be some relatively cheap bare bones car, several thousand down (You're paying a big chunk of the lease up front), and an "ultra low mileage" limit. Probably 10k per year. It also doesn't include taxes or any dealer add ones.
Posted by TigerMan79
Lake Charles
Member since Jul 2014
808 posts
Posted on 6/23/22 at 5:48 pm to
A lease vehicle can be a 100% write off for a business. Many rich people take advantage of this
Posted by stendulkar
Member since Aug 2012
767 posts
Posted on 6/23/22 at 5:55 pm to
If you aren't not going thru a lease broker on Leasehackr, you are doing it wrong. Leasehackr has the best deals available for all states. Spend some time reading the forums on that site. Totally worth it.
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
16965 posts
Posted on 6/23/22 at 6:02 pm to
The website price has small print under it.

That price is with whatever down payment the small print says
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
39856 posts
Posted on 6/23/22 at 6:02 pm to
Ya checking that out. Great suggestion
Posted by XenScott
Pensacola
Member since Oct 2016
3120 posts
Posted on 6/23/22 at 6:34 pm to
quote:

Only poor people rent, and renting keeps them poor.
wrong.

Wealthy people lease cars and own homes.
Poor people buy cars and rent houses.

A lease is actually a purchase of the depreciation of the vehicle, you pay it leasing or buying.
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