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DKF1016
"I got the Sugar" ..:)
Member since 5/05 1252 total posts
Name:
Gonnacatchapeacock
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What did you do when your car lease was up?
For those who lease their cars, what did you do when your term was finished? I want to buy/finance the rest of my car and I found out the buy out price.
I'd like to find a very low % loan to pay it off with rather than goin through the leasing company Hahn.
Today someone told me to take out a home equity line of credit and do it bit by bit through that.
I'm def confused and would like your help if you've been through this or if you know where I can get an auto loan for a low % interest rate.
thanks!
Message edited 12/2/2006 4:14:29 PM.
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Posted 12/2/06 4:13 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
HollaGirl
Merry Christmas !!!
Member since 10/06 3308 total posts
Name:
Kristen
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Re: What did you do when your car lease was up?
Posted by DKF1016
For those who lease their cars, what did you do when your term was finished? I want to buy/finance the rest of my car and I found out the buy out price.
I'd like to find a very low % loan to pay it off with rather than goin through the leasing company Hahn.
Today someone told me to take out a home equity line of credit and do it bit by bit through that.
I'm def confused and would like your help if you've been through this or if you know where I can get an auto loan for a low % interest rate.
thanks!
'
I give the car back. That is the purpose of leasing. I would NOT suggest taking out a Home Equity Loan to buy a 4-5 year old car.
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| Posted 12/2/06 4:16 PM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: What did you do when your car lease was up?
Unless the car is SUPER CHEAP and about 2 years old or less, DO NOT BUY IT. A friend of mine worked at a dealership and specailized in leases. She always said buying a car at the end of the lease is the worst deal for the customer.
On the flip side, my company has a lease program whereby we can buy cars super cheap at the end of the lease. Some people put 60K - 80K miles on their assigned cars within ONE year so that is why they are so cheap. Our territory is very large so it's mostly highway miles from the employees driving from sites in NY, NJ & CT all week long.
My dad's GF just gave back her leased car. Dad thought about using home equity to buy a new car (not the leased car) but decided not to since he may need the home equity money some day for home repairs or an emergency. The interest on the home equity loan is tax deductible so I can understand your reasoning.
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| Posted 12/2/06 4:32 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: What did you do when your car lease was up?
I think when my lease is up in 1 1/2 years, I am going to trade it in for the same car but a newer model (I have a 2004 trailblazer)
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| Posted 12/2/06 4:34 PM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: What did you do when your car lease was up?
I have leased 2 cars in the past and always gave them back. Buying it at the end usually isnt a great deal at all.
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| Posted 12/2/06 4:38 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: What did you do when your car lease was up?
I always get a new car. That's the beauty of a lease. Nothing down and I get to drive away with a brand new car with brand new tires and warranty and some new and better creature comforts. Most likely better gas mileage as well.
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| Posted 12/2/06 6:57 PM |
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jerrysgirl
I love my hot dog!!
Member since 6/06 5357 total posts
Name:
E & J
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Re: What did you do when your car lease was up?
i bought my car at the end of the lease. my parents helped me by using their home equity loan and i pay it off bit by bit. i was not ready to buy a new car, since i am saving for a wedding and house.
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| Posted 12/2/06 7:45 PM |
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cjb88
Little Brother
Member since 5/05 3540 total posts
Name:
C
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Re: What did you do when your car lease was up?
TFCU has some great auto loan rates..
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| Posted 12/2/06 9:11 PM |
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Candygrl776
LIF Adolescent
Member since 2/06 671 total posts
Name:
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Re: What did you do when your car lease was up?
Posted by cjb88
TFCU has some great auto loan rates..
I bought mine and got the loan from NEFCU...there weren't any other cars out that I liked (and could afford) so I decided just to keep the one I leased since I really liked it anyway
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| Posted 12/2/06 10:51 PM |
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