Lease estimate

[JYR]

If a payment is all you care about and the payment is what you were hoping to achieve ...then go for it. But to ask if you got a great deal...well, that is all relative to the person buying. If you really want to stick it to the man and sleep better knowing you really got him, then pick every penny from them but understand what you are picking. If you are interested in getting what is affordable to via a specific payment, then you can probably achieve that with a lease. The great deal is all how you perceive it. Unless you have crap credit or are super upside down in your current vehicle, you shouldn't be putting any money (outside of the first payment) down on a lease. When you put money down on a lease, that money is just forwarded as part of the monthly payment. Another-words, if you put $2400 down on a 24 month lease, that $2400 equates to $100 out of the monthly payment.

Leasehackr.com is a great site to learn how leasing works.
http://leasehackr.com/leasing-101/
http://leasehackr.com/blog/2015/9/19/8-things-you-should-know-before-leasing-a-new-car

Good luck!

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[JYR]

I leased a car once and I'll never do it again. Too much fine print. Too many incomprehensible variables. And when I leased I found that I didn't care about the car. Never washed or waxed it. Why would anyone wax the dealers car? And at the end they hit you with too many miles or too much undue wear. It's all a big crock. Don't understand why anyone would want to lease. And why would you make a down payment on a rental car? Dealers LOVE leases. This tells you everything you need to know about them. Make a car payment for 35 months and then........GIVE THE CAR BACK!!!!! What a deal. And you might have to write a check to the dealer at the end, then walk away with nothing. No money, no car, no nothing. What a shit deal.
I saved 10000 dollars in a box, at home, working a side job for two years. Went to the Honda dealer and put 9995.00 down on a new civic. Drove away in my new civic with a 200 a month payment for 54 mos. Best deal I ever made in my life. I asked the finance person about my credit score and interest rate on my car loan. She said,"when you're putting ten thousand down on a twenty thousand dollar car,we don't care what your credit score is".

So you put $10k of your hard earned money down on a car, then paid the bank $200 a month for to drive their car for 4.5 years and then in the end had a car that was worth maybe $10,000 ...sounds like you got a great deal.

I leased a Civic Si for $230 a month with $0 down, drove it for about 2 years, and washed my hands of it when I got my Jeep, also leased. So in a sense, I did the same thing you did without the $10,000 I saved by working two jobs and putting money into a box that earned me absolutely nothing.

Speaking of my Jeep, in the end, I can buy my Jeep for less than what they are going for on the used market. I've basically paid for what I've used, aka...a lease.

Now...I will say...if you are one who drives a vehicle 'until the wheels fall off' then a lease is very stupid. For me, leasing has worked great.

 

[David Harper]

So you put $10k of your hard earned money down on a car, then paid the bank $200 a month for to drive their car for 4.5 years and then in the end had a car that was worth maybe $10,000 ...sounds like you got a great deal.

I leased a Civic Si for $230 a month with $0 down, drove it for about 2 years, and washed my hands of it when I got my Jeep, also leased. So in a sense, I did the same thing you did without the $10,000 I saved by working two jobs and putting money into a box that earned me absolutely nothing.

Speaking of my Jeep, in the end, I can buy my Jeep for less than what they are going for on the used market. I've basically paid for what I've used, aka...a lease.

Now...I will say...if you are one who drives a vehicle 'until the wheels fall off' then a lease is very stupid. For me, leasing has worked

Your post makes absolutely no sense. I put ten grand down then paid 200 dollars a month, mostly principal, toward MY CAR, not the banks car. In the end I'll own an excellent car. You threw away 230 dollars a month to drive the dealers car,paid them a total of over 5500 dollars, gave it back in the end, and walked away with absolutely nothing. "washed my hands of it" actually means "a total loss". If you can buy the Jeep in the end,you would have made out much better buying it in the beginning. There's a reason dealers love leases. If what you're saying was true, there would be no such thing as leasing. The reason there is is that it's a real good deal. For the dealer.

Your numbers don't add up.You're going to be taking a total loss of about ten grand or more by the end of your second lease.I did the same thing as you did except I didn't waste 5500 dollars on nothing, and in the end I will have spent probably ten thousand less than you will.

 

[JYR]

You forget that vehicles depreciate. If you spend $20k on a car and in a few years you sell it for less than you paid for it or if you use the vehicle for a few years and walk away from it, what is the difference? From my point of view, you worked a second job to save and spend $10,000 plus spent $200 a month to pay off a vehicle that was worth less than what you paid for it in the end. Meanwhile, I spent nothing up front and $230 month to drive a car for 2 years and walked away from it losing only what it cost me to drive the car for a couple of years. The difference is, I didn't put in an extra $10,000 and overtime working a second job.

And yes, whether I give the bank my money or finance it through the auto manufacture (the bank) it makes no difference. You mentioned that when you leased your car, you didn't feel any ownership because you knew at the end of the day you would be getting rid of it. I fail to comprehend how, until you have the title in hand, how you don't feel any ownership. Vehicles I have paid cash for and vehicles I have financed, I have always treated the same.

Again, if you are going to drive the vehicle until the wheels fall off, then it probably makes more sense to buy the vehicle. I don't know many people who buy new vehicles and drive them until theres nothing left to drive. Once it needs some high dollar maintenance or that first tow, people jump ship real quick to get into the next vehicle.

To each their own...

 

[David Harper]

the reason I put ten grand in a box, without investing it, is I had to keep it off the record. If you know anything you know that the financial advantages of this far outweigh any investment scheme in the bullshit ripoff stock market.

 

[josby]

Leases aren't much more expensive than financing the same car, but you have to understand all the numbers. If you don't, you'll get screwed. And dealers love them because most customers either can't or won't do the math and therefore do get screwed.

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