[jyjp]

I'm bipolar when it comes to materialistic substances. I change my mind frequently and my interests change like the seasons. Anyway, the point is, I'm not 100% sure as to how leasing cars work. I'm sure it has pros and cons, and I wanted people (who know how to lease, please) to give me some feedback. I can't help but to get weak inside when I see a better car. For awhile I thought that the Infiniti FX45 was set on stones for me, but now the EX is calling for me...........

[b18c1]

if you are bipolar why dont u just pay straight cash then if dont want it then just sell it so u dont have to deal with leasing? if you lease and halfway thru u dont like it then idk.. it kinda sucks i guess

[jyjp]

if you are bipolar why dont u just pay straight cash then if dont want it then just sell it so u dont have to deal with leasing? if you lease and halfway thru u dont like it then idk.. it kinda sucks i guess

If i buy a new car and re-sell it, isin't that my loss? I'd rather lease and change cars every so often (like once a year?). It's just that I don't know the "hidden bad things" about leasing, thats why I made this topic. If you know of any, please let me know.

[CatGoesMeow]

If i buy a new car and re-sell it, isin't that my loss? I'd rather lease and change cars every so often (like once a year?). It's just that I don't know the "hidden bad things" about leasing, thats why I made this topic. If you know of any, please let me know.

how many miles a year do you drive?

[some-azn-guy]

leasing is like renting..

pros
===
-you get to change cars every few years(however long your lease is for)
-you need only make monthly payments, or whatever you've agreed to when the lease was signed
-you get to "test" a car out before "buying" it for yourself

cons
===
-you never technically "own" any leased car, unless u buy it out when the lease is done(pay the remaining value of the car)
-most lease will penalize you for going over the mileage limit they set in the contract for you
-if you decide not to keep the car, you lose your initial down-payment, plus all the monthly fees u paid (and u still dont have a car again.. so you go back to square one)

it goes both ways... it really just depends on what you plan on using the car for... and how long you plan to keep it for...so in the end, it's just personal preference.

[jyjp]

how many miles a year do you drive?

shoot, I don't even know. I'd say.... since I drive around 100-120 miles a day a years worth would be 36500-43800 miles.

leasing is like renting..

pros
===
-you get to change cars every few years(however long your lease is for)
-you need only make monthly payments, or whatever you've agreed to when the lease was signed
-you get to "test" a car out before "buying" it for yourself

cons
===
-you never technically "own" any leased car, unless u buy it out when the lease is done(pay the remaining value of the car)
-most lease will penalize you for going over the mileage limit they set in the contract for you
-if you decide not to keep the car, you lose your initial down-payment, plus all the monthly fees u paid (and u still dont have a car again.. so you go back to square one)

it goes both ways... it really just depends on what you plan on using the car for... and how long you plan to keep it for...so in the end, it's just personal preference.

thanks. I didn't know that there was a mileage limit, which, I have a question on. Is the limit for every car and customer the same? or do I get to negotiate with them? I knew about the down-payment being lost, which was my biggest : (

[aznfishyfart]

u can get different mileage limits, but ur monthly will go up slightly for more miles per month

and you pretty much never should buy a car out of a lease, you lose a lot of money because u cant negotiate the price ull buy it from the lease
its already preset when u start the lease

so pretty much if ur keeping the car for less than 4 years lease it
otherwise just buy

also if ur credit is good enough ur downpayment should be pretty low so you dont lose much
i had to put down 1200 on the g35 and it included first month payment so i only had to put down little less than 800
2 year lease btw

[jyjp]

u can get different mileage limits, but ur monthly will go up slightly for more miles per month

and you pretty much never should buy a car out of a lease, you lose a lot of money because u cant negotiate the price ull buy it from the lease
its already preset when u start the lease

so pretty much if ur keeping the car for less than 4 years lease it
otherwise just buy

also if ur credit is good enough ur downpayment should be pretty low so you dont lose much
i had to put down 1200 on the g35 and it included first month payment so i only had to put down little less than 800
2 year lease btw

thanks a lot : )
I'm going to go with leasing then

[mikez]

Leasing is good for cars with high residual values, therefore you get lower monthly rates.

Also if you time it right and lease say a BMW 2 years ago and now the residual for V8 BMW are dropping, you will end up paying less in your lease than the depreciation of your vehicle so you win.

Say you spent 30k on a car, you sell it 3 years later for 15k, you just lost 15k in depreciation.

But if you leased the same car and over the period of 3 years, you only paid 10k but the value of the car after 3 years was 15k, that means the dealer ate that extra 5k of loss, so you win.

Gotta shop carefully.

[[babii3×chiink] ~♥]

well leasing .. mm,
after the lease period is over you can decide whether or not you want to fully buy it off.
one of hte bad things about leasing it, is that it isn't "your" car.
so you have to take care of it.
like if you get a scratch or soemthing, you need to get it fixed.
like my 328i is leased. and there's a scratch on it, so i have to get it repainted it or whatnot.
also, with leasing, you need to have alot of credit.

its not that bad. imo. during the leasing period for bmw, they include all the stuff like for a certain mileage check up kind of thing.

the only really bad thing i can think of is, the fact that you have to really careful about how you drive it and etc.

[TKY]

I leased a car before. Leased contract was for 4 years and I drove it only for a year. Went over a grip on mileage and had to pay like $0.10 per miles. Put over 30,000 on the first year and returned it. Paid the penalty and so on. Leasing a car is not worth it.

[scotty]

ahem. you don't need to lease cars in alaska. all you need is a pack of wolves and you're set. right?

[jyjp]

Leasing is good for cars with high residual values, therefore you get lower monthly rates.

Also if you time it right and lease say a BMW 2 years ago and now the residual for V8 BMW are dropping, you will end up paying less in your lease than the depreciation of your vehicle so you win.

Say you spent 30k on a car, you sell it 3 years later for 15k, you just lost 15k in depreciation.

But if you leased the same car and over the period of 3 years, you only paid 10k but the value of the car after 3 years was 15k, that means the dealer ate that extra 5k of loss, so you win.

Gotta shop carefully.

thanks, very informative. can I take you with me to go car shopping? haha jk

ahem. you don't need to lease cars in alaska. all you need is a pack of wolves and you're set. right?

I live in Los Angeles

[CatGoesMeow]

36500-43800 miles.


I dont think it would be wise for you to lease @ this rate of mileage.

[jyjp]

36500-43800 miles.


I dont think it would be wise for you to lease @ this rate of mileage.

Let me re-calculate, I believe I did it wrong before
since I get an oil change every 1500-2000 miles, which happens to be once a month
yearly = 24,000

[TKY]

Let me re-calculate, I believe I did it wrong before
since I get an oil change every 1500-2000 miles, which happens to be once a month
yearly = 24,000

What car do you drive at the moment? Why would you get an oil change every 1500~2000 miles?

[jyjp]

What car do you drive at the moment? Why would you get an oil change every 1500~2000 miles?

aren't you supposed to get one every 25000-3000ish miles? I get mine ahead of time so that I won't end up stranded on the streets.

[Born: 1985]

I have a question too.....

For leased cars, are they usually brand new or newer used cars?
And do they expect you to return the car in the same condition as when you first drove it off the lot?
(Clean carpet, clean paint, etc. etc.)

[TKY]

aren't you supposed to get one every 25000-3000ish miles? I get mine ahead of time so that I won't end up stranded on the streets.

Are you serious? Oil changes depend on the car, driving habits and etc. I say most vehicles need oil changes every 3000~5000 miles. Newer cars are different, I change my oil every 7000~8000 miles.

I have a question too.....

For leased cars, are they usually brand new or newer used cars?
And do they expect you to return the car in the same condition as when you first drove it off the lot?
(Clean carpet, clean paint, etc. etc.)

Its brand new cars thats leased. After the lease is up they sell the car as a pre-owned vehicle. It's impossible to keep the car in the same condition for a such a long time.