- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Tips for negotiating a car lease
Posted on 12/11/24 at 7:02 am to charminultra
Posted on 12/11/24 at 7:02 am 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.
So you financed the car for 9 years.
0
Posted on 12/11/24 at 7:07 am to NolaLovingClemsonFan
Some good advice here.
Essentially, on a lease, you are paying for the depreciation over a period of time plus interest.
The advantage is often in the dealers court as they control the sale price and risidual value. I think the rate is set by manufacturer.
Sometimes there are very good deals though. That leasehacker site is good
Essentially, on a lease, you are paying for the depreciation over a period of time plus interest.
The advantage is often in the dealers court as they control the sale price and risidual value. I think the rate is set by manufacturer.
Sometimes there are very good deals though. That leasehacker site is good
Posted on 12/11/24 at 8:00 am to asphinctersayswhat
quote:
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.
That makes zero sense. Don’t listen to this nonsense.
Posted on 12/11/24 at 9:13 am to GetCocky11
quote:I purchased a BMW 540i X-Drive, off lease with only 17k miles for $36k. Original MSRP:$72,635.
The used market is arse
Posted on 12/11/24 at 10:07 am to diat150
Actually with some Toyota leases this is correct…it was correct with my Tacoma…residual was 2k less than market…and likely would have been correct with my tundra…residual was 30k….im sure it would have been worth more
Posted on 12/11/24 at 10:34 am to NolaLovingClemsonFan
Punch yourself in the face several times and then say - don't ever do a lease.
If you still think the lease is a good idea - repeat.
If you still think the lease is a good idea - repeat.
Posted on 12/11/24 at 10:58 am to winkchance
Disadvantages to Leasing a Car:
No Ownership: At the end of the lease, you don’t own the car. You must either lease another vehicle or buy one, but you have no equity in the car.
Mileage Limits: Leases typically come with annual mileage limits (usually around 10,000–15,000 miles per year). Exceeding this limit can result in costly penalties.
Customization Restrictions: You can’t modify or customize the car as you might with a car you own.
Long-Term Cost: If you continue leasing one car after another, you may end up spending more in the long term than if you had purchased the car and kept it for several years.
No Ownership: At the end of the lease, you don’t own the car. You must either lease another vehicle or buy one, but you have no equity in the car.
Mileage Limits: Leases typically come with annual mileage limits (usually around 10,000–15,000 miles per year). Exceeding this limit can result in costly penalties.
Customization Restrictions: You can’t modify or customize the car as you might with a car you own.
Long-Term Cost: If you continue leasing one car after another, you may end up spending more in the long term than if you had purchased the car and kept it for several years.
Posted on 12/11/24 at 11:03 am to Will Cover
quote:
easing 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.
Perfection. Equity.
I never thought Id encounter people telling me that leasing was a good idea. It actually blows my mind.
Posted on 12/11/24 at 12:22 pm to jizzle6609
quote:
Equity
go buy a car without putting anything down at a normal interest rate and trade it in between 18-24 months and see how you end up with equity. then recalculate that if you get in a wreck and the dealership has a wreck to hold against you.
and you can gain equity in a lease, it doesnt often but it can happen. I gained 10000$ on one during covid. but what cant happen is you get charged more because the value of the vehicle fell more than the residual value that was calculated as terms of the lease.
yes, if you buy a car and drive for 6+ years you will come out ahead, everyone knows that. but if you want new cars that are under warranty every 2-3 years then leasing can work well for the right person. but you are also risking that you wont have a serious mechanical problem like an engine failure or transmission failure during the non warrantied period.
Leasing doesnt work for everyone but it does work for some.
Posted on 12/11/24 at 12:59 pm to NolaLovingClemsonFan
Car leasing?
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News