Car Leasing? anyone have a leased car?

i am currently looking into leasing a car.. i have always financed, so i dont know too much about the leasing program besides getting a new car every 3 yrs..

also , has anyone bought their car after the lease was up??

thank you!!

Re: Car Leasing? anyone have a leased car?

Deanna, a lot of companies are not leasing anymore, the 2 major ones are Honda and Toyota, I heard that ford was going to keep going but I'm not positive on it.

Its usually not worth it in the end to buy it out, unless you have neg. a great price in the beginning. A lot of people say to neg. a better price on the car, NOT the monthly payment, but I always just go by what I can afford monthly.

I love leasing b/c I get sick of my cars pretty quickly, but when its up you have nothing and have to start all over again, another down payment etc. so you have to think ahead.

What's wrong with your car? I love it!! you want an suv don't you?

Re: Car Leasing? anyone have a leased car?

Are you sure Honda and Toyota are not leasing, 2 of my cousin's just leased cars through both places, this was last week.

Re: Car Leasing? anyone have a leased car?

Re: Car Leasing? anyone have a leased car?

The finance section of the manufacturers are pulling out of leasing, but most dealers still work with banks to provide leasing. A coworker just leased a Volvo, and his previous Volvo was leased. He said that Volvo hasn't done their own leasing in a long time. It just goes through a 3rd party bank.

Re: Car Leasing? anyone have a leased car?

Posted by HeatherRose

Deanna, a lot of companies are not leasing anymore, the 2 major ones are Honda and Toyota, I heard that ford was going to keep going but I'm not positive on it.

Its usually not worth it in the end to buy it out, unless you have neg. a great price in the beginning. A lot of people say to neg. a better price on the car, NOT the monthly payment, but I always just go by what I can afford monthly.

I love leasing b/c I get sick of my cars pretty quickly, but when its up you have nothing and have to start all over again, another down payment etc. so you have to think ahead.

What's wrong with your car? I love it!! you want an suv don't you?

Re: Car Leasing? anyone have a leased car?

I lease now

and I plan on buying the lease

it's not normally the best idea- BUT I am going to be so over on miles and I love the SUV I have

I would have to pay them $4K in over miles fees if I turn it in

so I am just going to take that $4K and put it down on the car

my original plans were to buy a used SUV- but I figured that I should just buy my own used SUV - since I know I maintained it etc

they do say if you plan on buying the car- you should buy it from the start

and that makes sense- think about it

if you lease for 3 years- then buy

you are most likely going to be paying for the car for 8 years (5 on the finace on the back end)

so it makes sense to just buy the car in the begining

of course- the payments are higher when you buy- my car would have been about $300 more per month

and I am going to try to take a shorter then normal loan when I buy the car- and I am "try" to get a better deal on the car when my lease it up- counting on the fact that they may not want another used SUV on the lot - it doesn't hurt to ask

Re: Car Leasing? anyone have a leased car?

Re: Car Leasing? anyone have a leased car?

To me the biggest con with leasing is that when you turn it in you can be hit with a bill depending on mileage and damage to the car.
I have been leasing for many years, and it works for me. We just leased through VW with no problems.

Re: Car Leasing? anyone have a leased car?

DH and I both have leased trucks. I financed a car before this. I love leasing because we both like having new vehicles and the payments are lower. I didn't even finish paying off my old financed vehicle before i got my leased truck so buying is a waste of money for us (not for everyone, but for US). DHs truck goes back in Jan/Feb. He wants to buy it out because he loves his truck and did a lot of work to it in terms of strobe lights (he's a firefighter) and other stuff. I'm going on the same hope Beth is that they'll negotiate the price with us because 1) they don't want anymore trucks on the lot; and 2) DHs entire family have bought their vehicles from this dealership so there's a loyalty thing going on. If not, we're either going to lease him a new truck or buy something used.

Don't put money down on a lease. Make sure you get GAP insurance if the leasing company will not accept what the insurance company gives you int he event the vehicle is totaled. Also, Chrysler Financial is not leasing anymore in case you were thinking about a Chrysler, Dodge or Jeep, but you can still go through a 3rd party bank to do a lease on one of their vehicles.

Re: Car Leasing? anyone have a leased car?

I once leased, AND I bought the lease using a car loan. Two things i'll never do again.

I'll definitely never lease again. But I also ended up financing the car I bought off lease.

Probably the worst financial move I ever made in my life since you pay massive amounts of interest doing both (leasing then financing). But back then I was young and stupid so it was allowed.

Message edited 8/11/2008 11:01:07 AM.

Re: Car Leasing? anyone have a leased car?

thanks so much!!
so pretty much if you were to buyout a lease.. would the price be what the car is worth at the time??
i guess not many people do this...
but like you said, i guess if i was planning on buying after the lease then i should just finance to begin with.

i just love the low payments.. so many pro's and cons


I think they set the end price at the begining of the lease

I estimated what I thought mine would be (I am too lazy to look for the paperwork)

some cars hold value better then others- and mine happens to be one of those - but since I am going to be about 20K miles over (and Jake wonders why his car only has 16K miles on it- b/c he always takes mine) I think in my situation if I can work it right- it might be to my advantage to try to buy this car

I have about another year to figure it out

Re: Car Leasing? anyone have a leased car?

Re: Car Leasing? anyone have a leased car?

Posted by MetsGirl07

Posted by Beth1210

thanks so much!!
so pretty much if you were to buyout a lease.. would the price be what the car is worth at the time??
i guess not many people do this...
but like you said, i guess if i was planning on buying after the lease then i should just finance to begin with.

i just love the low payments.. so many pro's and cons

Re: Car Leasing? anyone have a leased car?

Re: Car Leasing? anyone have a leased car?

Posted by SweetTooth

Posted by MetsGirl07

Posted by Beth1210

thanks so much!!
so pretty much if you were to buyout a lease.. would the price be what the car is worth at the time??
i guess not many people do this...
but like you said, i guess if i was planning on buying after the lease then i should just finance to begin with.

i just love the low payments.. so many pro's and cons

I think they set the end price at the begining of the lease

I estimated what I thought mine would be (I am too lazy to look for the paperwork)

some cars hold value better then others- and mine happens to be one of those - but since I am going to be about 20K miles over (and Jake wonders why his car only has 16K miles on it- b/c he always takes mine) I think in my situation if I can work it right- it might be to my advantage to try to buy this car

I have about another year to figure it out

Re: Car Leasing? anyone have a leased car?

If you are going to buy the car at the end of the lease, you pay what is left - if the car was 20K at the beginning of the lease and during the lease you paid 10K, then your buyout is 10K.


now I really want to check my paperwork

b/c that would make my SUV cheaper then I thought- even if I factor in interest

if I take my $4K for miles and put it down on my SUV- then I would looking at a payment of $200 less then I pay now - which was my goal when I was going to buy a used SUV

I have to play with the math- and find out the exact buy out

Re: Car Leasing? anyone have a leased car?

I lease because my commute is less than 2 miles round trip. I have had my car for 18 months and I only have 10,000 miles on it. Plus, I like having a new car with no maintenance on it.

Re: Car Leasing? anyone have a leased car?

Re: Car Leasing? anyone have a leased car?

Re: Car Leasing? anyone have a leased car?

when i signed my lease it said what the final payment would be for a buyout, i don't believe you neg. that at the end, but actually at the beginging.