Bansh-eman Posted January 30, 2007 Report Posted January 30, 2007 anyone ever leased a car? tell me the good and bad of leasing... please dont list your opinions i want experiance... not i heard from someone or i just know becasue answers... Quote
sandmouse Posted January 30, 2007 Report Posted January 30, 2007 tossing money away. you will never own the vehicle. payments until you die. Quote
yamaha04 Posted January 30, 2007 Report Posted January 30, 2007 Its kinda like your renting a vehical only you have it for awhile. Quote
dajogejr Posted January 30, 2007 Report Posted January 30, 2007 I bought my grand cherokee in 01...I had literally two payments left and the tranny went. I bought it off another person's lease with 42K on it. I've never done a thing to it, other than oil changes, tires, brakes...the only out of the ordinary thing I had to put on was a power steering pump, no biggie. I turned it in with 160K miles. I got about 600 more than what I owed on it, and leased my new RAM. Total crap shoot, either way you look at it. Before my Jeep, I bough a Ford Ranger off my dad, 88. Had 142K on it when I bought it, I donated it still running with 277K actual miles. I put a tranny in it, clutch...and the normal maintenance stuff. I figured after being that lucky two cars in a row, I'm not getting that lucky a 3rd time. So...the good is you'll have a new car every two or 3 years, never have to worry about a big repair being out of warranty... Bad is you will always have a payment, and have to watch your miles. I bought more miles because I drive more than the normal 12K a year they give you, I'll probably still be over the miles. It's just nice to walk in and drive out with a new car every few years... The auto industry is hurting so bad right now (and with me being from the Detroit area, We feel it more) you can get 0% financing and/or killer lease deals, whichever you choose. They are damn near giving them away.... Your choice... As long my milage stays reasonable, I'll lease from here on out...until I'm ready to retire. Otherwise, I'd buy an off lease or year old vehicle. Sorry, I'm not driving off a lot losing several K right off the bat. Quote
korndawg Posted January 30, 2007 Report Posted January 30, 2007 I guess it all depends on how long you typically keep a vehicle. For someone that trades vehicles every 2 or 3 years, it would be a pretty good deal, because you get a much lower payment than you would if you bought the vehicle out right. No, you won't build any equity in that vehicle, but if you are trading them off every 2 or 3 years, you usually don't have much more into the car than what the trade-in value is anyhow. As long as you don't go over the specified mileage, it's not that bad of a deal. Quote
Duner440 Posted January 30, 2007 Report Posted January 30, 2007 I have never leased a vehicle but I do work at a Chevy dealership. As long as you keep the car in good shape and keep the miles down it really isnt too bad of a deal. No, you will never own the car but if you keep going the leasing route you will have a veh that is always under warranty and every few years you can get a new car. And really, do you ever really own a new car? Most of the time you're making payments untill right before it is out of warranty and you trade it in on another new car and make payments on it. If I didnt drive 75 miles one way to work I would be leasing a car instead of buying. At the end of your lease you do have the option to buy the car but they kind of hose you on that so I would just trade it in on another one. Also, the lease payment is usually quit a bit cheaper than a loan payment. Good luck. Quote
theshee Posted January 30, 2007 Report Posted January 30, 2007 The big thing is mileage... Where I live 50 miles from town, I would have the mileage so high I couldnt do it. I would take payments to own something vs. rent it... Quote
dajogejr Posted January 30, 2007 Report Posted January 30, 2007 I agree on the hosing at the end of the lease. For me to buy my truck, it'd be like 19,800 or so. For anyone else on the street....16K...not fair. Quote
Bansh-eman Posted January 30, 2007 Author Report Posted January 30, 2007 I have never leased a vehicle but I do work at a Chevy dealership. As long as you keep the car in good shape and keep the miles down it really isnt too bad of a deal. No, you will never own the car but if you keep going the leasing route you will have a veh that is always under warranty and every few years you can get a new car. And really, do you ever really own a new car? Most of the time you're making payments untill right before it is out of warranty and you trade it in on another new car and make payments on it. If I didnt drive 75 miles one way to work I would be leasing a car instead of buying. At the end of your lease you do have the option to buy the car but they kind of hose you on that so I would just trade it in on another one. Also, the lease payment is usually quit a bit cheaper than a loan payment. Good luck. well my wife bounces like fukin crayz in and out of cars... we have a big negitive now becasue she got a pos pontiac and now owe alot more then what that fukers worth...so we are looking at leasing a car... the thing i like is that you always are covered by warranty... if anything break they fix it... and the miles isnt a big deal casue i have my truck to travel in... i dont give a shit about "owning" the car casue like said you never keep it anyways... its not like a house... you normally trade it in before you finish paying it off anyways... and the good thing about leasing was that when your lease is up if your 10,000 negitve you just turn that fuker in and your done with it... where if you buy then your fuked and it rolls into your next car... just wondering if anyone knows of any hidden scams that you get fucked with doing this? i know if you turn it in damaged or over miles you pay but for every 1000 miles its 150 bucks... so say you go over 3k big deal thats 300 bucks... id rather pay 300 dollars one time then have a payment for 6 years on my next car thats 150 more every month... anyone else with advice please drop some lines... need some good ensight so i can make my desicion Quote
dajogejr Posted January 30, 2007 Report Posted January 30, 2007 Here's something they never tell you...up until the minute you turn that lease in, you can buy more miles for it. It's cheaper to buy them than pay for 'em after you turn it in. They normally send out a rep to inspect the car a month or so before the turn in date. They inspect the car. normally...if any damage is smaller than a credit card size...they wont hit you for it...oh, and the glass has to be in good shape... Quote
bigboybanshee Posted January 30, 2007 Report Posted January 30, 2007 I've leased a car once and personally felt it was a waste of money since I don't go through cars every couple years. Both my current vehicles are paid for and they run great. I haven't had a car note in years, and that alone is worth buying a car....to me anyways. The money I'm not spending every month for a lease goes for the routine maintenance and any major repairs...so if you're one of those people that take great care of your cars/trucks, and don't mind keeping them for a while, then buying is the way to go. :shrug: LOL, not trying to pick at ya but your math is wrong...150 bucks per 1k miles over your "limit" would make 3k miles = $450, not $300 :biggrin: :ninja: It adds up quick...4k over = 600, 5k over is 750...you get the point :beer: Quote
Bansh-eman Posted January 30, 2007 Author Report Posted January 30, 2007 I've leased a car once and personally felt it was a waste of money since I don't go through cars every couple years. Both my current vehicles are paid for and they run great. I haven't had a car note in years, and that alone is worth buying a car....to me anyways. The money I'm not spending every month for a lease goes for the routine maintenance and any major repairs...so if you're one of those people that take great care of your cars/trucks, and don't mind keeping them for a while, then buying is the way to go. :shrug: LOL, not trying to pick at ya but your math is wrong...150 bucks per 1k miles over your "limit" would make 3k miles = $450, not $300 :biggrin: :ninja: It adds up quick...4k over = 600, 5k over is 750...you get the point :beer: yea with the way my fukin wifes going we wont keep the car for more the a few years... like i said she is on her 5th car in a few years now she cant makeup her fuking mind.... so now we are big negitive... i dont know how my numbers cameup that jacked lol i guess talking to guys here at work and typing i had a brain fart... but the way i look at it is id rather pay 400 or 500 bucks one time and be done with it.... rather then trading in a car and owning 6 grand and now im paying 150 more every month for 6 years on a car... and once we trade that in im 5k more negitve on that one so that rolls in and now im paying 225 more then i should... ust eats me up becasue i was 10,000 ahead of the game before on her first car but she cant makeup her mind and now he are big negitive... women are quite possibly the dumbest animals on the planet! independant women my ASS! Quote
bigboybanshee Posted January 30, 2007 Report Posted January 30, 2007 LMAO, in that case, as long as she's not beating the cars up, leasing is the way to go for you...I wasn't sure if she was running through cars cause she was wrecking them or just didn't like them...If she just wants to change cars with the season, then leasing is DEFINITELY your best bet. Quote
BIGDOGDADDY Posted January 30, 2007 Report Posted January 30, 2007 I have bought and leased several vehicles for our business. If you own a business you can write off 100 percent of your payment and maintance on your taxes. We always buy our vehicles at the end of our leases, it is true you will get hosed with most leases at the end. What we do is lease the vehicle with no residule at the end. In other words there is no pay-off at the end, you outright own the vehicle at the end of the lease. You will not be able to get this deal through a dealership, you need to go through a commercial fleet leasing company. Trans Lease out of Colorado is a very good one. You do have to be a legitimate business for the write-off to be legal. If you don't own a business you cannot write off the lease payment or expenses. In that case I have always found the best thing to do is just outright purchase the vehicle (IMO). Another thing to consider on a lease is any damage to the vehicle at the end of the lease, you will be responsable to repair at the time of the turn in. Good Luck! Quote
bones Posted January 30, 2007 Report Posted January 30, 2007 Unfortunately for me, I drive 100mi/day round trip and unless they make a super deal for a max mileage of 30,000 per year, I can't lease. Quote
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