Way off topic!

[Guest]

I've been tossing around the idea of leasing a vehicle but before I do, can I hear from some of you who've done it and how the experience was for you.

 

Was it better than buying outright?

 

Would you do it again?

[youngbuck 0]

I have heard good things in terms of being able to trade them in and get a new car every few years (and not incur massive repair costs). However, I think the biggest downside is that if you go over that mileage (and from what I understand it is easy to do), it sucks to have leased a car. This was two friend's experiences', one good and one bad, with their leased cars.

[Redwings1 0]

I did only once and paid dearly for it due to mileage...

[TerryLee 0]

If you don't drive a lot and you like to have a new car every couple of years and you don't mind not owning your vehicle leasing may be ok for you.

 

I tried it once and it was a mistake for me. I ran my mileage way up the first part of my lease (unexpectedly) and, rather than pay the overmileage penalty, like I should have, I decided to buy the vehicle outright. Don't ever do that!!! :wallbash:

 

Lot's of people lease, and enjoy it, and it seems like if you fit the criteria in the first sentence you would be fine doing it. I'd just be very careful when considering how many miles you drive against what the lease allows.

 

One more thing to consider is that most leases require you to have a pretty hefty insurance policy on the vehicle, so don't forgot to figure that into the cost.

 

Good luck,

 

Terry

 

 

[Redleg 0]

Run far... run hard...

 

They should change the name from lease to flease...

[Guest]

I leased my '96 Dodge Ram truck, then when I saw I was over the miles I bought it. So in other words I paid for my truck twice. I probably won't do a lease again. But I wonder when you turn in your leased vehicle (with or without going over the miles) do you still have the hefty downpayment on the new leased vehicle? That might be another thing to consider.

 

Jim

[Guest]

Ok, so far it seems the things to watch out for are:

 

 

-the small print on mileage

 

-the conditions under which the next lease can begin.

 

Cool, thanks guys. Anybody else?

[AlG 0]

The few i did were just fine :dunno: I however ALWAYS got (and paid for) the extra mileage in the event and quite knowing i would go over the amount initially allowed. Just think of what you drive now, and figure in the extra few hundred "wanting to drive the new car" miles and go from there.

 

If you do go over in mileage, argue and say you won't ever buy/lease a car from here again I know a guy that did that and while yes, he did get the extra added on with his current lease.....it was only 10%.....$500 of $5k! They did not want to loose that sale.

[Ralph Jones 0]

Do you rent(lease) an apartment/house, or are you buying (mortgage) or own (paid for) your home? If you buy a vehicle it's yours to put as much mileage as needed or wanted. Downside, you are Responsible for it. If you lease, you are responsible to the owners,not yourself, for mileage, for one thing, and for whatever else is in the contract. I say buy a vehicle. IMO. Ralph

[Slacker 0]

This is the advice I was given....

 

"If you are thinking about leasing a car, ask your accountant. If you do not have an accountant then you should not be leasing."

 

The way I see it is if you have a vehicle allowance from your work leasing might be an option. But I personally would never lease a vehicle as you are left with nothing when the lease is over and you are almost stuck leasing with that brand again if you want any sort of break.

 

Slacker

[AlG 0]

I see points, however and again, if you know you will go over in mileage then buy the extra mileage :dunno:

 

An apartment is just something you sink money into and not get anything out of but can't be compared to a "car" lease in anyway. Case and point, a few friends of mine ONLY lease because they can drive a new car every 2-3 years. The car values are around $45,000 and the lease payments were at the time were $423 for 36 months and trade in value on a Cadillac DTS is far less in those 3 years than was paid out in the lease.

If you figure on average how much you pay into the vehicle in a certian time, then how much your vehicle is "worth" afterwords with a trade in, there is no doubt about it you get screwed quite a few times. But, and understanding this does not happen all the time, i've seen it happen over 50% of the time.