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Dont forget the fine print in the contract deals in detail about what happens if you return the lease car AND IT NOT BE IN 100% STELLAR. CONDITION. ANY LITTLE DING THE SIZE OR THICKNESS OF A DIME OR MORE MEANS A LARGE BODY SHOP REPAIR BILL YOU WILL PAY.....
It isn't worth screaming in all caps. Car companies expect normal wear and tear but they do want it back more or less in the same condition they sent it out. That's not unreasonable.
What happens when you try to sell or trade a car you have dents and dings, bald tires, missing keys, fobs and/or manual or just other wise boogered up? Do you still get top dollar for it?
Dont forget the fine print in the contract deals in detail about what happens if you return the lease car AND IT NOT BE IN 100% STELLAR. CONDITION. ANY LITTLE DING THE SIZE OR THICKNESS OF A DIME OR MORE MEANS A LARGE BODY SHOP REPAIR BILL YOU WILL PAY.....
I have never paid a dime and most car companies give a $500.00 allowance for damage.
I had 1 scratch that a neighbors kid did when they ran their bike into the door. Got a quote for $150. and they paid it.
Turned the car in 1 year later expecting to pay and they accepted it as is and I made $150.
[quote=PokerMunkee;18961361]I don't like leasing because I keep my cars for 6 years and almost 20k/miles a year on it.
BUT, you can make the argument:
Buy car for $30,000, keep for 8 years, sell it for $7,000. Cost you $23,000 to drive it for 8 years (96 months), which turns out to be $240/month. The car is out of warranty for about 5 years, so you probably are dumping another $1,500 in general maintenance and repairs, which is pretty conservative. So that's another ~$15/month. The math favors a lease even more the least number of years you keep the car, obviouslly.
I have never seen a individaul who came out on a lease except those hwo woul shave trade at three years and don't drive much.Bascially leases are figured to have the lease plus the terms plus resell more than equal the MSRP. Those who can dedcut on taxes its often makes sense. I have never seen a decent lease that did nclude a lease down payment.If you get alot of nicks whch are common today that is under insurance deductable then it can be a real surprise when you turn them in;also.Auto dealers love leases with the terms and the porfits made.
The profits on leases aren't necessarily any higher then on retail. A smart shopper won't pay any more money just because it is a lease. The only reason dealers "love" leases is that it typically puts people in a shorter trading cycle in which they at least have to come by the dealer once before walking away giving them at least an opportunity to sell them their next car.
The profits on leases aren't necessarily any higher then on retail. A smart shopper won't pay any more money just because it is a lease. The only reason dealers "love" leases is that it typically puts people in a shorter trading cycle in which they at least have to come by the dealer once before walking away giving them at least an opportunity to sell them their next car.
True.
I never put any money down on a lease and have never paid for anything like tires, scrapes etc.
I drive the car like I own it and park away from other cars and will walk a distance to do so.
I only hand wash and the car is garaged.
EX. No money down except plates and regular fees paying $552.00 a month for 36 months for a 2011 Lincoln MKS with MSRP of $45,000.
Had bought for cash a NEW 2008 M35 Infinti with MSRP of $45K for $32,500 plus tax. The Lincoln dealer gave me a check for $29,000 when I leased the MKS. Glad I hadn't paid more as some early on paid full MSRP.
The M35 had 17K miles on it and the money went right back into a bond earning a little less than 5%. Folks forget that the car not only depreciates annually but 32,500 @5% costs another $1,625 a year in lost income.
The M35 had a handling problem and the tires were already needing to be replace at $1K so I saved that too.
I prefer leasing and the numbers work out preety much the same.
So you can trade in a car you still owe money on to lease a new one and not get totally shafted?
We paid for the car in cash so nothing was owed.
The lease price was right (X Plan) and 2 dealers wanted the deal. I was offered 27K by 1 and 29K by the other which I took. Leased a 2011 Lincoln MKS and it does offer a tad better MPG.
Luckily when I bought the car in the end of 2008; Infinti was knocking 12K off the MSRP so the deal was too good to pass and I really like the car. paid 32.5K plus tax.
Sold it to invest the 29K in a bond at 5%; the car had a handling problem and wouldn't maintain a straight line (felt like steering with a rope) and wore the tires out at 17K miles. Others complain of same thing.
Who knows what future value the car might offer?
Leasing takes that away i:e drive a Hummer or other large SUV and gas goes up and value of car car goes down. If leased just finish it and turn it in.
Sudden acceleration that Audi had or GM diesels and no one wants at any price. Leased? No problem. Gone at end of lease.
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