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bella
LIF Adult
Member since 5/05 1871 total posts
Name:
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help me understand leasing
I've been looking for a new car and thinking about leasing. When I build the car online the leases are coming out several hundred dollars more than the "offered" lease. (i.e. lease offer is 435, when I build with options I'd like it's about 730) so my question is do dealers have cars they just set aside for lease that are bare bones because I'm imaginig that number must be a bare bones model.Also, is it possible to pay more upfront to keep the monthly payment down on a lease. I can reduce some options but want my payment closer to 500. Just not really clear how it works.
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Posted 2/11/17 9:11 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
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Re: help me understand leasing
Can't help you with your questions but my father in law always told me to try to not put any money down as tempting as it is to keep monthly payments lower. His rationale is that God forbid something happens, you lose that money
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| Posted 2/11/17 9:32 PM |
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bella
LIF Adult
Member since 5/05 1871 total posts
Name:
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help me understand leasing
Yes I could see that point. I'm definitely going to have to scale back the options but I really think the lease advertised is for absolutely nothing. Find it strange they have that many on the lot that would fit the bill.
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| Posted 2/11/17 9:46 PM |
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LIRascal
drama. daily.
Member since 3/11 7287 total posts
Name:
Michelle
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Re: help me understand leasing
Posted by bella
I've been looking for a new car and thinking about leasing. When I build the car online the leases are coming out several hundred dollars more than the "offered" lease. (i.e. lease offer is 435, when I build with options I'd like it's about 730) so my question is do dealers have cars they just set aside for lease that are bare bones because I'm imaginig that number must be a bare bones model.Also, is it possible to pay more upfront to keep the monthly payment down on a lease. I can reduce some options but want my payment closer to 500. Just not really clear how it works.
No, the offered lease like the ones on the tv commercial aren't for bare-bones leftovers on the lot. They do exist, but you have to visit the dealership to see which model and which packages/equipment groups qualify for the lease price.
The online calculator can never do what the human inside the dealership does. There are incentives, rebates, dealer discounts and residual amounts that must be factored in, which usually aren't considered in those online calculators. Also, if you're are first-time lessee, then you could possibly qualify for even more. A good dealership will sit with you and stay as close to your monthly budget using these discounts and won't force you to put any money down (except DMV fees, etc)
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| Posted 2/11/17 10:17 PM |
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Binx214
LIF Infant
Member since 9/07 98 total posts
Name:
Danielle
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help me understand leasing
Usually the ones they show on a commercial is a base model, also the fine print along the bottom will say with anywhere from 3-7k down. We lease and never put anything down except tax and title. You drive off the lot and total the car you're out that money.
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| Posted 2/12/17 10:54 AM |
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muffaboo
LIF Adult
Member since 12/10 3797 total posts
Name:
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Re: help me understand leasing
The advertised price is usually for a base model car and several thousand $ down.
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| Posted 2/12/17 11:13 AM |
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jlm2008
LIF Adult
Member since 1/10 5092 total posts
Name:
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Re: help me understand leasing
Posted by muffaboo
The advertised price is usually for a base model car and several thousand $ down.
This. Pretty standard advertising practice. I lease for a few different reasons, it works for me. Just do not ever put any money down!
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| Posted 2/12/17 11:44 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: help me understand leasing
We lease and I agree with everyone, don't put ANY money down. It's just money lost.The prices you see advertised where they offer all of these fantastic monthly prices on an expensive car are simply because they are assuming a HUGE down payment. It's a bit of false advertising.
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| Posted 2/12/17 11:47 AM |
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WannaBeAMom11
LIF Adult
Member since 1/11 7391 total posts
Name:
Name
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help me understand leasing
As everyone said go to the dealer. Both of dh's trucks have been fully loaded and we never put money down as that is lost money.
What are you trying to lease as $500-$700 is a high lease payment. Leases are supossed be cheaper because you are renting the car not buying it.
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| Posted 2/12/17 4:16 PM |
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BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
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help me understand leasing
Also, i've noticed that the lease payments advertised are for very low mileage leases. Not sure how many miles a year you drive, but if you need 12k or so, that can increase the lease amount as well. we've done several leases now and are very happy. we never put money down (only the minimum tax, title, first months payment). some other things to check when at the dealership, cost for miles over (usually something like $.15/mile) and if there are any fees at vehicle turn in. the cheapest leases are usually 36 or 39 month leases. good luck, and shop around. there are always lease deals to be found!
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| Posted 2/13/17 11:17 AM |
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Tulips915
................
Member since 8/08 6851 total posts
Name:
Me
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help me understand leasing
My first time ever leasing (3 yrs ago) I told them i'm not paying above $200 per month. After much back and forth, I got a 2014 Corolla for $198. 2 1/2 yrs later they were calling me to trade in. I found a FB ad for a 2016 Rav and the dealer honored it (i'm paying the same price as I was for the Corolla). It was for 10K miles per year but I had them make it 12K. I went with the same dealer since I knew the salesman.
Look for ads, print them and show it to the dealers. See what they can do.
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| Posted 2/13/17 11:23 AM |
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angelicd77
LIF Adolescent
Member since 12/13 794 total posts
Name:
Kim
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help me understand leasing
Pretty much all of what has been said above is true. If you have any more specific questions FM me. I work for a dealer and this is kinda what I do lol
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| Posted 2/13/17 3:12 PM |
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Cacarina
Two girls!
Member since 12/09 2971 total posts
Name:
Cari
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help me understand leasing
Are you looking at a luxury car? I leased a AWD with extra options Chevy Traverse, no money down and the lease is $350 a month. So unless you are considering a Range Rover or Audi or something in that class, you will definitely get payments at $500 or under. Don't put money down. If anything set that money aside to help with your monthly payments.
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| Posted 2/13/17 3:56 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: help me understand leasing
Posted by Cacarina
Are you looking at a luxury car? I leased a AWD with extra options Chevy Traverse, no money down and the lease is $350 a month. So unless you are considering a Range Rover or Audi or something in that class, you will definitely get payments at $500 or under. Don't put money down. If anything set that money aside to help with your monthly payments.
Also bear in mind that you can get luxury cars for lesser lease payments than you think- because their residual values are higher when you turn them in at the end of the lease (in general luxury cars hold their value better)
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| Posted 2/13/17 3:59 PM |
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whoababy11
it's only forever
Member since 11/10 1598 total posts
Name:
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Re: help me understand leasing
Posted by NervousNell
Posted by Cacarina
Are you looking at a luxury car? I leased a AWD with extra options Chevy Traverse, no money down and the lease is $350 a month. So unless you are considering a Range Rover or Audi or something in that class, you will definitely get payments at $500 or under. Don't put money down. If anything set that money aside to help with your monthly payments.
Also bear in mind that you can get luxury cars for lesser lease payments than you think- because their residual values are higher when you turn them in at the end of the lease (in general luxury cars hold their value better)
How much do you think it would cost to lease a Mercedes SUV? it's something I've toyed with but a friend told
Me it would be like 800 a month, which seems insane
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| Posted 2/13/17 5:48 PM |
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MrsG823
Just call me Mommy.
Member since 1/11 5570 total posts
Name:
S
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help me understand leasing
I recently looked into leasing and the dealer explained that over the time you lease expect to pay approximately 51% (sometimes a bit more) of the total cost of what ever car you want- there is generally a little room for negotiation but that is what they generally how they determine the payments- car facts and cars direct can give you a good idea of cost.
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| Posted 2/13/17 5:56 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: help me understand leasing
Posted by whoababy11
Posted by NervousNell
Posted by Cacarina
Are you looking at a luxury car? I leased a AWD with extra options Chevy Traverse, no money down and the lease is $350 a month. So unless you are considering a Range Rover or Audi or something in that class, you will definitely get payments at $500 or under. Don't put money down. If anything set that money aside to help with your monthly payments.
Also bear in mind that you can get luxury cars for lesser lease payments than you think- because their residual values are higher when you turn them in at the end of the lease (in general luxury cars hold their value better)
How much do you think it would cost to lease a Mercedes SUV? it's something I've toyed with but a friend told
Me it would be like 800 a month, which seems insane
It is going to depend on which SUV you want...they have smaller ones and bigger ones, which option package you want, how much you are willing to put down, how long a lease and how many miles per year you need.
Go on the mercedes usa website...they have some lease deals listed....but again those deals are generally lower mileage with more money down
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| Posted 2/13/17 9:27 PM |
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