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Old 02-13-2019, 05:47 PM
 
Location: Aurora Denveralis
5,433 posts, read 1,814,471 times
Reputation: 8148

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Quote:
Originally Posted by gentlearts View Post
I have money. I could pay cash for a car. I just don’t want to get ripped off.
Then, in all sincerity, run do not walk away from the idea of a lease. You can do MUCH better.

Leases have been grossly oversold and misrepresented as the wonderland way to have lots of new car real cheap. The downside, except for a very narrow range of buyers, is almost bottomless. It's not inaccurate to sum it up as the worst of buying combined with the worst of renting.
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Old 02-13-2019, 06:05 PM
 
Location: Metro Detroit Michigan
3,519 posts, read 960,781 times
Reputation: 2827
Quote:
Originally Posted by Quietude View Post
Then, in all sincerity, run do not walk away from the idea of a lease. You can do MUCH better.

Leases have been grossly oversold and misrepresented as the wonderland way to have lots of new car real cheap. The downside, except for a very narrow range of buyers, is almost bottomless. It's not inaccurate to sum it up as the worst of buying combined with the worst of renting.
Never had a problem when i leased my 2015 Nissan Sentra SR was a 3 year 36,000 mile lease paid under $200 a month with $1,000 down and i turned it in last year, than leased a 2019.5 Nissan Rouge sport put just $1,000 and payment is $310 because i got wheel and tire protection because of the pot holes were i live. It’s the all weather package AWD and has lane departure and auto breaking, remote start stearing wheel heater seat heater, side view mirror heaters. Nice vehicle and great mpg. And gap is included with lease I’m retired so i don’t put the miles on anymore. You’re allowed normal wear and tear like little paint chips that happens with daily driving. And the dealer doesn’t sell your lease Nissan sent my vehicle to a auction house i live in Michigan but a dealer in Kentucky bought the car and it sold within a week. My wife knows a website that tracks a vin number.

Last edited by easy62; 02-13-2019 at 06:49 PM..
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Old 02-13-2019, 06:23 PM
 
6,584 posts, read 3,654,989 times
Reputation: 8830
Quote:
Originally Posted by gentlearts View Post
Ok, so you are saying, go to a dealer and negotiate a price to buy, then ask about leasing.
Iím already thinking if. F it. Why do I need to play games? Iíll just keep my Jetta.

I have money. I could pay cash for a car. I just donít want to get ripped off. Iíll use them, they wonít use me.
Negotiate online with multiple dealers competing against each other. Don't play the game in the dealership. Regardless of whether you are purchasing or leasing.
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Old 02-13-2019, 10:13 PM
 
Location: Los Angeles
5,167 posts, read 7,186,799 times
Reputation: 6788
Quote:
Originally Posted by unit731 View Post
You have to start with the price of the new car that you are seeking. That part is the same as buying a new car. IT IS NOT PAYMENTS.
Make sure that with your trade you reach an out the door price for the new car. That includes all of the real or fake fees that are added to any new car. Excluding state and local sales taxes and DMV vehicle registration. Once you agree upon a specific car and a specific price - THEN you ask about leasing.

If you can't get this concept or the dealer will not provide a price then you have to walk. OR bring in someone such as a relative, friend, co-worker, etc. who knows how to buy a new car.

So once the selling price is agreed to then ask about leasing. Then READ the lease agreement. If there are numbers that you don't understand then ask. I have personally viewed a lease agreement where the sales tax was added twice to the lease agreement by the new car dealer.


Yes, with any lease you do pay a sales tax. Proportional to the time you lease the vehicle. If you live in a sales tax state.


Again. A lease is NOT just "payments".



Regarding sales tax on a leased vehicle, I had this conversation a couple of years ago on this forum.


The vehicle is not being sold, so why is there a sales tax?
The vehicle, like rental property, is being leased for a period of time.
I don't charge a sales tax on my rental units, so how is it that dealers charge a sales tax on vehicles that are being leased?
Just don't understand this at all.




Bob.
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Old 02-13-2019, 11:04 PM
 
Location: Coastal California
218 posts, read 306,541 times
Reputation: 936
I leased a new Subaru in August of last year. I now have 8,200 miles on the car, and my lease allows for 1,000 per month.
I love the car, but it was not a smart financial move. When I leased I was driving about 800 miles per month. Due to some life changes I will now be driving about 1,400 miles per month. I will pay a penalty for every mile over 36,000 when I turn the car back in at the end of the lease.

Financially it was not a smart move on my part.
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Old 02-13-2019, 11:49 PM
 
6,584 posts, read 3,654,989 times
Reputation: 8830
Quote:
Originally Posted by CALGUY View Post
Regarding sales tax on a leased vehicle, I had this conversation a couple of years ago on this forum.


The vehicle is not being sold, so why is there a sales tax?
The vehicle, like rental property, is being leased for a period of time.
I don't charge a sales tax on my rental units, so how is it that dealers charge a sales tax on vehicles that are being leased?
Just don't understand this at all.




Bob.
It’s a sales and use tax, people just shorten to sales tax.

And the rules of how that tax is applied to leases vary by state. Some just a tax on the monthly(just the depreciated amount) but some tax the entire purchase price up front.

Last edited by notnamed; 02-13-2019 at 11:59 PM..
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Old 02-13-2019, 11:51 PM
 
6,584 posts, read 3,654,989 times
Reputation: 8830
Quote:
Originally Posted by Blue Skies View Post
I leased a new Subaru in August of last year. I now have 8,200 miles on the car, and my lease allows for 1,000 per month.
I love the car, but it was not a smart financial move. When I leased I was driving about 800 miles per month. Due to some life changes I will now be driving about 1,400 miles per month. I will pay a penalty for every mile over 36,000 when I turn the car back in at the end of the lease.

Financially it was not a smart move on my part.
It’s a Subaru. Sell it to carmax or trade it in. Or buy it out and keep/sell privately. They have very high resale. Don’t just pay the turn in penalty.
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Old Yesterday, 05:33 AM
 
5,130 posts, read 5,189,978 times
Reputation: 5177
Quote:
Originally Posted by CALGUY View Post
Regarding sales tax on a leased vehicle, I had this conversation a couple of years ago on this forum.

The vehicle is not being sold, so why is there a sales tax?
It is your elected officials. The state House of Representatives, the state Senate, the Governor. As with any legislation these voted elected officials can put in or take out anything related to sales or use tax.
In some states there is also a county tax. Those are created by your elected county officials. In some states there is a city/town sales/use tax. Again, created by your elected officials.

All of those elected officials can put in and take out any item that they want to. Some states now tax services not just real goods. In some states "necessities" such as food are exempt from sales tax and some states do not tax information - such as newspapers and magazines.

I highly suggest to everyone to go to a city counsel/selectmen/alderman/school board meeting. See how all of this works at the local level. THEN run for office yourself and make your contribution to all of this and to work for the changes that you think are correct and proper.

The debate on taxes is endless.

But back to the lease car. Most if not all sales tax states want the sales tax income from the new vehicle one way or another. Full sales tax or proportional sales tax. When the car is delivered to the first owner or driver. Sales or lease - makes little difference. Those states with no sales tax will probably have some sort of excise tax or use tax. Some are one time many are annual. This is in addition to the gasoline/fuel taxes collected at the gas station. And then there are toll roads. ETC . . . . .
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Old Yesterday, 05:39 AM
 
Location: Vermont
347 posts, read 85,958 times
Reputation: 645
Quote:
Originally Posted by easy62 View Post
Never had a problem when i leased my 2015 Nissan Sentra SR was a 3 year 36,000 mile lease paid under $200 a month with $1,000 down and i turned it in last year, than leased a 2019.5 Nissan Rouge sport put just $1,000 and payment is $310 because i got wheel and tire protection because of the pot holes were i live. It’s the all weather package AWD and has lane departure and auto breaking, remote start stearing wheel heater seat heater, side view mirror heaters. Nice vehicle and great mpg. And gap is included with lease I’m retired so i don’t put the miles on anymore. You’re allowed normal wear and tear like little paint chips that happens with daily driving. And the dealer doesn’t sell your lease Nissan sent my vehicle to a auction house i live in Michigan but a dealer in Kentucky bought the car and it sold within a week. My wife knows a website that tracks a vin number.
So $7,200 for 3 years with the first car and $12,000 for the second one?

Frankly $4,000 per year to rent a car sounds pretty steep to me. That's 33 cents per mile if my math is right this morning, assuming you drive every mile allowed in the lease. If you're only putting ~6,000 on it per year, you're at 66 cents per mile. Comparatively speaking I'm averaging around 5 cents per mile on my Honda in terms of cost, depreciation AND maintenance.

You have a much bigger car with modern safety features, and maybe that's the right choice for you. At this point in my life I really don't want to spend 7-14x more on a car.
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Old Yesterday, 05:57 AM
 
5,416 posts, read 2,450,281 times
Reputation: 13829
Dealer will inquire thru finance if you qualify.
You will read in its entirety the lease terms.
Give yourself at minimum 4 years of contract law school to understand the terms. Come back in year five. And repeat.
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