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re: Tips for negotiating a car lease
Posted on 12/10/24 at 3:45 pm to NolaLovingClemsonFan
Posted on 12/10/24 at 3:45 pm to NolaLovingClemsonFan
1. Read up on leasehackr
2. Make the deal with as little money down as putting money down on a lease is stupid
3. Don’t lease through us bank or ally especially with a hybrid or EV
I just got out of leasing…this is how they went
1. Leased a GMC Acadia…had a Yukon with a bunch of equity and took the equity to pay off some bills…didn’t make any money or owe any at the end
2. Turned in the Acadia leased a Tacoma. Made 2k at the end towards a lease on a tundra.
3. Crazy Covid times…they offered me 12k to give the tundra back
4. I leased a jeep wrangler 4xe….the residual is 40k and it’s worth less than 30k….i turn it in tomorrow and already bought a new f150 because I was over miles on the jeep
2. Make the deal with as little money down as putting money down on a lease is stupid
3. Don’t lease through us bank or ally especially with a hybrid or EV
I just got out of leasing…this is how they went
1. Leased a GMC Acadia…had a Yukon with a bunch of equity and took the equity to pay off some bills…didn’t make any money or owe any at the end
2. Turned in the Acadia leased a Tacoma. Made 2k at the end towards a lease on a tundra.
3. Crazy Covid times…they offered me 12k to give the tundra back
4. I leased a jeep wrangler 4xe….the residual is 40k and it’s worth less than 30k….i turn it in tomorrow and already bought a new f150 because I was over miles on the jeep
0
Posted on 12/10/24 at 3:55 pm to NolaLovingClemsonFan
You’re basically just paying the depreciation on the new car and hoping to give it back with very low miles and close to new condition.
If she qualifies for the ev credit, Tesla has some good deals on leases.
If she qualifies for the ev credit, Tesla has some good deals on leases.
Posted on 12/10/24 at 4:39 pm to SneezyBeltranIsHere
quote:
Leasing a car is fricking retarded. Don't do it.
Right, instead, sign an 84-month loan, at the end of which you'll have an out-of-warranty high-mileage vehicle.
Posted on 12/10/24 at 4:43 pm to TigerGman
quote:
Right, instead, sign an 84-month loan, at the end of which you'll have an out-of-warranty high-mileage vehicle.
people hear someone say something and just repeat it. leasing can work out well if you play the game right.
better yet using your example, finance for 84 months and then have the wife go trade in after 36 months and see who comes out ahead.
This post was edited on 12/10/24 at 4:44 pm
Posted on 12/10/24 at 4:54 pm to NolaLovingClemsonFan
-Figure out what is leasing well, with lower money factor and incentives. Examples right now are Volvo, Infiniti and Jeep.
-Ask for a quote with zero down except paying first month lease payment. Easier to compare offers that way.
-Demand to see the money factor and depreciation. Research on Edmunds to make sure they are not inflated.
-Don't go into dealership without an offer in writing.
-Ask for a quote with zero down except paying first month lease payment. Easier to compare offers that way.
-Demand to see the money factor and depreciation. Research on Edmunds to make sure they are not inflated.
-Don't go into dealership without an offer in writing.
Posted on 12/10/24 at 4:56 pm to NolaLovingClemsonFan
Leasing is the most expensive way to get a car
Posted on 12/10/24 at 5:00 pm to tygerfan1
It's been 15 years since I leased a car but for some reason I believe insurance is different as well because you don't own it. Check on that before you sign a lease.
Posted on 12/10/24 at 5:17 pm to dalefla
quote:
It's been 15 years since I leased a car but for some reason I believe insurance is different as well because you don't own it. Check on that before you sign a lease.
yes insurance will be higher limits but anyone that is riding around with minimum limits on insurance shouldnt be buying or leasing a new car period.
Posted on 12/10/24 at 5:21 pm to MikeAV8s
Very few and you know that.
Posted on 12/10/24 at 7:33 pm to jizzle6609
quote:
Very few and you know that.
It’s no different than purchasing a car. If you go in uninformed you will get taken to the cleaners.
Posted on 12/10/24 at 7:49 pm to jizzle6609
Not that few.
Posted on 12/10/24 at 9:00 pm to NolaLovingClemsonFan
quote:
Anyone have a lot of experience and know how to handle lease negotiations?
Leasing adds a layer of complexity to the deal that allows the salesman to hide or misrepresent the true purchase price.
Leasing has become an incredibly effective tool for dealers to sell their product at a significantly higher price and profit margin and is often “pushed” or “encouraged” through the sales process.
Leasing makes the car more affordable and therefore easier to sell. The buyer gets focused on being able to drive a nicer vehicle for a lower monthly note than what they most likely could not afford to buy.
It allows the customer to afford a more expensive car, and the more expensive the car, the larger the profit.
Leasing allows the dealer to legally hide the true cost/price of the vehicle and charge you a higher price than you would normally agree to.
A leasing customer is more likely to return to the same dealership to get their next vehicle and next vehicle and next vehicle. Even though your original sales person will be long gone, the dealership is able to maintain customer retention and that’s where it pays off in the long run.
Personally, I am not a fan of leasing. You will owe something. You will own nothing. In other words, your girlfriend will have zero "equity" when her lease it up. She will be caught in an endless cycle, unless she decides to buy used or saves up enough cash for a significant down payment.
Leasing is a convenience that you’ll pay for in the end.
Posted on 12/10/24 at 9:24 pm to diat150
quote:
also most hybrid or electric cars are good lease candidates right now because they are moving slow on the lots and there will be a 7500$ price reduction because of the tax rebate. add in incentives from manufacturer and the dealers price reduction and you can easily get to 10-20k off of msrp.
This. Lease a PHEV, get the $7,500 off plus dealers price reduction and incentives, wait 3 months and they outright finance the car through a credit union.
Posted on 12/10/24 at 9:54 pm to NolaLovingClemsonFan
My tip: buy a 3 year old, low mileage car coming off lease is the best advice I can give you about leased cars
Posted on 12/10/24 at 10:38 pm to NolaLovingClemsonFan
Lease is great for the car dealership.
It's has very few advantages for most people.
It's has very few advantages for most people.
Posted on 12/10/24 at 11:04 pm to NolaLovingClemsonFan
Leasehakr.com Leasing is the shite, most don’t even know, even the dealers. I do one pay leases, and they think I’m Einstein or something, legit ask me to come work for them. You can really get a great deal and they hate that. So it takes HOURS to find a willing participant. Last 5 vehicles have been 50k and currently at $183 a month, most are $200-250. If I go over my Nissan miles it’s only 10 cents a mile. Do the math on that, It’s cheep as hell. You are going to pay way more than 1k for a car with 25k miles vs 35k.
I can lease a car for 18 years before it equals the price of a new car. It’s a huge pia to get great deals though.
I can lease a car for 18 years before it equals the price of a new car. It’s a huge pia to get great deals though.
Posted on 12/10/24 at 11:09 pm to LSUDad
If you are going to change cars every 2-3 years, take care of your vehicles, want to always be under warranty, and don’t drive more than your lease mileage limit then leases make sense. If you make a good deal on a lease then you will always come out ahead vs financing a car and trading in in 2-3 years. And that’s not even considering if you get in a wreck and what that will do to the trade in value of your vehicle.
That’s the scenario that leases work for. You can’t compare leasing to someone that keeps a car for 8 years or some shite.
That’s the scenario that leases work for. You can’t compare leasing to someone that keeps a car for 8 years or some shite.
Posted on 12/10/24 at 11:12 pm to charminultra
quote:
3 year lease was paid off, then I financed to own it for the same monthly note on a 6 year loan
NM, I understand now.
This post was edited on 12/10/24 at 11:20 pm
Posted on 12/11/24 at 1:23 am to HubbaBubba
quote:
My tip: buy a 3 year old, low mileage car coming off lease is the best advice I can give you about leased cars
The used market is arse
Posted on 12/11/24 at 5:38 am to NolaLovingClemsonFan
If you are gonna lease a car, lease a Toyota. They are one of the few that end end with a lower residual value than than the market value. At the end of the lease, buy the car outright and then trade it in for the next. Do not just turn it in to lease another car.
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