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b2b777
LIF Adult
Member since 9/09 4474 total posts
Name:
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Anyone here familiar with leasing a car?
So I have always purchased my vehicles, never done a lease.
My DH wants to lease this time as he eventually wants to buy electric in a couple years. His current vehicle is OLD he has had it over 11 years.
He is trading that in to cover the down payment/taxes/title etc on the new car. That is about $4000.
The car itself is valued at $60,500, and the monthly lease is $539.50 a month for 36 months.
Does this seem like a fair deal?
Is there ever any wiggle room on a lease or is it take it or leave it?
When we are done with the lease do we start all over and have to put a hefty amount down or do they work to keep you as a customer?
Thanks!
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Posted 7/21/20 3:09 PM  |
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NervousNell
Just another chapter in life..
Member since 11/09 54921 total posts
Name:
..being a mommy and being a wife!
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Re: Anyone here familiar with leasing a car?
There is wiggle room in a lease yes.
When I went to lease mine, I wasn't a fan of the monthly payment he came up with, I hemmed and hawed a bit, and he went to his manager and suddenly I had a lower monthly payment.
You can absolutely negotiate just like you would with purchasing the car.
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| Posted 7/21/20 3:21 PM |
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FirstMate
My lil cowboy
Member since 10/10 7790 total posts
Name:
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Re: Anyone here familiar with leasing a car?
Shop around. There is definitely wiggle room. $4,000 is way too much to be putting down on a lease.
On my current lease, I did all the work on it which was a PITA. I got a good deal but it was a lot of haggling and back and forth. There is a company called Island Luxury Leasing in West Islip. Stupidly, I decided to call her after I did all the work to see if she could get me a better deal. She did not but it was close to pennies difference. I negotiated my payment to $549 and she came in with $551. I realized if I had just called her from the beginning, I would have saved myself a boatload of time, effort and aggravation. She was really nice and gave good advice. They negotiate the lease for you and have the car delivered to your door. I would definitely recommend giving them a call.
And yes, when the lease is up, you get to do it all over again. That's the only down side of leasing IMO. You have to deal with the car dealerships every 3 years but I will definitely call Island Leasing first next time.
Message edited 7/21/2020 3:28:00 PM.
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| Posted 7/21/20 3:27 PM |
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b2b777
LIF Adult
Member since 9/09 4474 total posts
Name:
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Anyone here familiar with leasing a car?
Thanks for the tip. I will reach out to a leasing agent to make sure the deal im getting is legit.
Appreciate it!
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| Posted 7/21/20 4:24 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Anyone here familiar with leasing a car?
If you are new to leasing you are likely going to get ripped off by the dealer. You really need to know your stuff when trying to figure out if a lease is a "good deal". The good deal isn't about the monthly payment. It's about the purchase price, residual and money factor.
If you don't want to take the time to figure it out, just go on leasehackr forums and find a broker that sells the car he wants. You will pay the broker a few hundred but he will save you thousands so it's a net win.
Also remember that some cars "lease well" (due to high residuals and low money factors) and some don't.
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| Posted 7/21/20 4:49 PM |
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angelicd77
LIF Adolescent
Member since 12/13 794 total posts
Name:
Kim
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Anyone here familiar with leasing a car?
I work for a dealer. You can PM me with any questions you have.
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| Posted 7/21/20 5:43 PM |
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Maddie180
LIF Adult
Member since 2/07 1992 total posts
Name:
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Re: Anyone here familiar with leasing a car?
Posted by FirstMate
On my current lease, I did all the work on it which was a PITA. I got a good deal but it was a lot of haggling and back and forth. There is a company called Island Luxury Leasing in West Islip. Stupidly, I decided to call her after I did all the work to see if she could get me a better deal. She did not but it was close to pennies difference. I negotiated my payment to $549 and she came in with $551. I realized if I had just called her from the beginning, I would have saved myself a boatload of time, effort and aggravation. She was really nice and gave good advice. They negotiate the lease for you and have the car delivered to your door. I would definitely recommend giving them a call.
Loved working with Island Luxury! I literally told them my wants and a price I wanted to pay and I got exactly what I wanted delivered to my door. Igor is the best!
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| Posted 7/21/20 6:43 PM |
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jlm2008
LIF Adult
Member since 1/10 5092 total posts
Name:
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Anyone here familiar with leasing a car?
I have always only leased cars. Yes, there is some wiggle room...I just spent past two months getting my guy down to what I wanted. But NEVER put money down on a lease!
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| Posted 7/21/20 7:11 PM |
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b2b777
LIF Adult
Member since 9/09 4474 total posts
Name:
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Re: Anyone here familiar with leasing a car?
Posted by jlm2008
I have always only leased cars. Yes, there is some wiggle room...I just spent past two months getting my guy down to what I wanted. But NEVER put money down on a lease!
Even the taxes?
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| Posted 7/21/20 7:13 PM |
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jlm2008
LIF Adult
Member since 1/10 5092 total posts
Name:
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Re: Anyone here familiar with leasing a car?
Posted by b2b777
Posted by jlm2008
I have always only leased cars. Yes, there is some wiggle room...I just spent past two months getting my guy down to what I wanted. But NEVER put money down on a lease!
Even the taxes?
Sorry, I should've been more specific. Yes, you will have to pay taxes, dmv fees, etc...just don't put money beyond that down.
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| Posted 7/21/20 7:27 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Anyone here familiar with leasing a car?
Posted by jlm2008
Posted by b2b777
Posted by jlm2008
I have always only leased cars. Yes, there is some wiggle room...I just spent past two months getting my guy down to what I wanted. But NEVER put money down on a lease!
Even the taxes?
Sorry, I should've been more specific. Yes, you will have to pay taxes, dmv fees, etc...just don't put money beyond that down.
You can roll the taxes into the lease. You don’t have to put the taxes down. You can do sign and drive which is no money down. Or at worst first month plus tags.
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| Posted 7/21/20 7:32 PM |
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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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Re: Anyone here familiar with leasing a car?
Posted by ave1024
Posted by jlm2008
Posted by b2b777
Posted by jlm2008
I have always only leased cars. Yes, there is some wiggle room...I just spent past two months getting my guy down to what I wanted. But NEVER put money down on a lease!
Even the taxes?
Sorry, I should've been more specific. Yes, you will have to pay taxes, dmv fees, etc...just don't put money beyond that down.
You can roll the taxes into the lease. You don’t have to put the taxes down. You can do sign and drive which is no money down. Or at worst first month plus tags.
Yes this. Never put taxes or money down on a lease. If the car is totaled the next day, you have lost that money and it will not be covered by insurance. I know a lot of people like to put money down because it lowers your monthly lease payment, but you are still paying the same amount at the end of the day. That is why it is important to negotiate the price and residual of car.
Message edited 7/21/2020 7:41:20 PM.
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| Posted 7/21/20 7:40 PM |
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