Thread: Input on leasing cars
01-06-2003, 11:08 AM #1
Input on leasing cars
I have always bought my previous cars in the past, some new, some used, but I recently got screwed buying a 4 year old car for my girlfriend, that only had 40,000 miles on it. I thought it was good, because of the low miles and stuff, but it didn't come with a warranty because it ended at 36k. 2 months after having it, it's starts getting problems, and basically falls apart in front of me, and to fix everything would cost about $1700. I ended up selling the whole thing to an aquatince that works at a auto shop for a $1500 loss. I guess it wasn't too bad, but you win some and lose some.
I'm thinking about leasing a Jetta Gl for her at only $219/month + tax for 36 months. Zero Down and comes fully warrantied. I think it's a pretty good deal for the money, but wanted some feedback on what other people thought of leasing compared to just buying. There's of course an option to buy at the end of the lease, but she'd probably want a new car in 3 years.
01-06-2003, 01:06 PM #2
Leasing cars and trucks are typically a terrible idea. Make sure you look and see at the milage rules and what is due at the end of the lease. sometimes it can be really high.
My cousin leased a truck a few years back and it was a total mess, so just be careful bro!
Ask the sales guy directly,
how much can i drive this thing a month in actual miles?
What do i owe at the end of this lease?
01-08-2003, 10:56 AM #3Associate Member
- Join Date
- Dec 2001
i only lease cars now. I enjoy having a new car often... also If you go with a brand that has a wide variety of prices you may even get out after 1.5 -2 yrs. With a benz or BMW. I have a Lincoln LS V8 will get rid of it within a year and get a Navigator...... Leasing is best in my opinion
01-08-2003, 12:08 PM #4VET
- Join Date
- Sep 2001
This guy at my job (I'm a valet) says he's leasing his car.
I don't know much about that kind of shit, so what exactly is leasing ?? Are you basically renting to own ?? Or are you just renting with some restrictions ??
01-08-2003, 01:01 PM #5
I put way to many miles on a vehicle to even consider leasing. Lease payments are just as high as an actual car payment and at the end you just give it back. You can trade a vehicle in before it is paid off anyway, and if you want to keep it, you can without still owing a ton of money.
01-08-2003, 03:14 PM #6
Thanks for the advice, I just decided to go all out and buy a new accord coupe for her. I got pretty good terms at 2.9% and it's a well built car. Should keep it's value well.
01-08-2003, 07:28 PM #7
dizzle: that was probably a better idea ... we got screwed by VW Credit leasing our Jetta, tho your payment sounded pretty reasonable I still don't trust 'em
Key: leasing is basically paying off the depreciation of a car for the time you own it, plus interest ... they figure what they expect the car will be worth at the end of the lease, subtract that from the list price, and "finance" that amount to you with interest, and restrictions, most notably the mileage restriction because if you go over the amount of miles they expect you to put on the car, you lower its value at the end of your lease below what they anticipated it would be worth ... and they charge you dearly for it unless you roll the lease over into another one of THEIR cars, or buy it for the agreed upon price at the end of the lease (which is sometimes less than the price you would buy it, used, from a private party or dealership) ... another drawback is it's nearly impossible to get out of a lease early, so choose carefully!
01-08-2003, 07:47 PM #8VET
- Join Date
- Sep 2001
skid, thanks for the input. sounds like it's hell to lease a car. i know i put a ton of miles on my car, so there's no way i'd be able to stay below if i ever did lease on. i plan on running my tahoe into the ground - until i get mad cash (hopefully in a few years) and then i'm splurgin on a decked out escalade
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