Trip To The Mazda Dealer
06-19-2003, 11:28 AM
#21
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Join Date: Sep 2002
Location: Tallahassee, FL
Posts: 5,425
Originally Posted by wanta be boosted' date='Jun 19 2003, 12:21 PM
So let me get this stragiht you basically gona rent a car for a year, and then give it back, and have nothing. But they are going to say that thet will give you a lower interest rate. I just don't see the logic in that 
Wow, they are gona bend you over and you.
Automobile leasing can be a very attractive alternative to buying for many people, although maybe not for everyone, as we'll discuss later. You must decide about the importance of these benefits to you. So, what are the potential benefits of leasing when compared to conventional new-car purchase loans?
Lower Monthly Payments
Because you're only paying for the portion of the car or truck that you actually use, your monthly payments are 30%-60% lower than for a purchase loan of the same term.
More Car, More Often
Since your monthly payments are lower, you'll be able to get more car for the same money and drive a brand new vehicle every two to four years, depending on the term length of your leases.
Fewer Maintenance Headaches
Most people like to lease for a term length that coincides with the length, in months, of the manufacturer's warranty coverage so that if something major goes wrong with their car, it's always covered.
Lower Upfront Cash Outlay
Most leases require little or no down payment, which makes getting into a new car more affordable and frees up your cash for other things. However, you can choose to make a down payment to lower your monthly payment amount.
Lower Tax Bite
In most states and in Canada, you don't pay sales tax on the entire value of a vehicle when you lease. You're only taxed on the portion of the value that you use during your lease. The tax is spread out and paid along with your monthly lease payment.
No Used-Car Hassles
With leasing, the headaches of selling a used car are eliminated. When your lease ends, you simply turn it back to the leasing company and walk away, unless you decide to buy it or trade it.
Even with all of the above benefits, leasing requires more discipline and commitment than buying. Therefore, you'll want to examine your motives and qualifications to determine if you are a good leasing candidate.
Lower Monthly Payments
Because you're only paying for the portion of the car or truck that you actually use, your monthly payments are 30%-60% lower than for a purchase loan of the same term.
More Car, More Often
Since your monthly payments are lower, you'll be able to get more car for the same money and drive a brand new vehicle every two to four years, depending on the term length of your leases.
Fewer Maintenance Headaches
Most people like to lease for a term length that coincides with the length, in months, of the manufacturer's warranty coverage so that if something major goes wrong with their car, it's always covered.
Lower Upfront Cash Outlay
Most leases require little or no down payment, which makes getting into a new car more affordable and frees up your cash for other things. However, you can choose to make a down payment to lower your monthly payment amount.
Lower Tax Bite
In most states and in Canada, you don't pay sales tax on the entire value of a vehicle when you lease. You're only taxed on the portion of the value that you use during your lease. The tax is spread out and paid along with your monthly lease payment.
No Used-Car Hassles
With leasing, the headaches of selling a used car are eliminated. When your lease ends, you simply turn it back to the leasing company and walk away, unless you decide to buy it or trade it.
Even with all of the above benefits, leasing requires more discipline and commitment than buying. Therefore, you'll want to examine your motives and qualifications to determine if you are a good leasing candidate.
06-19-2003, 08:23 PM
#22
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Join Date: Feb 2002
Location: Amityville, New York
Posts: 12,288
people always seem to think that leasing is renting a car,
all your doing is paying for it for the time you own it, then
you give it back, no hassles. Usually the only wear and tear is
one set of front pads, and now they are all giving free maintance
anyhow, dont even have to pay for wipers,lights,brakes, oil changes.
Plus less money up front. To people who drive the car to work and back
and **** like that, its the way to go.
all your doing is paying for it for the time you own it, then
you give it back, no hassles. Usually the only wear and tear is
one set of front pads, and now they are all giving free maintance
anyhow, dont even have to pay for wipers,lights,brakes, oil changes.
Plus less money up front. To people who drive the car to work and back
and **** like that, its the way to go.
06-19-2003, 10:32 PM
#23
Senior Member
Join Date: Jan 2003
Location: Aiken, SC
Posts: 810
all your doing is paying for it for the time you own it, then
you give it back, no hassles.
you give it back, no hassles.
uhhhmm that is what renting a car is.
Plus less money up front. To people who drive the car to work and back
and **** like that, its the way to go.
and **** like that, its the way to go.
Less money up front maybe, more at the end most likely. My dad leased a Toyota Tacoma in 1996-97/98 (can't remember exhaustly how long he had it), and it was brand new at the time. And the dealer has a set amount of miles that you can drive before you have to start paying for the "high miles" (over there limit), and when he had turned the truck back into the dealer, due to milage, maintance,.... he was up side down in the lease. So no matter what he did he had to pay the dealership, or buy the truck off of them, at the price that it cost new. So basically all he did was pay for a 1-2 year test drive, and got shafted.
In my eyes, you need to get a half *** dependable car (or learn how to work on a nondependable car) and drive it around until you can pay cash for the car. There is no point in going in deat to have something that you can't afford. So:
06-19-2003, 10:37 PM
#24
Senior Member
Join Date: Jan 2003
Location: Aiken, SC
Posts: 810
Better than taking a 6K hit on depreciation.
Well if you don't want to take the depreciation hit, buy a used car. And let the ****** before you take the 6,000 K hit. Why do you need to buy a new car anyways??? It is going to get old eventually, and you can buy a car that someone just bought, and got into financial trouble. And must sell it, at a cut throat price all day long. One mans misfortion is anothers gain.
06-20-2003, 07:23 PM
#25
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Join Date: Feb 2002
Location: Amityville, New York
Posts: 12,288
Your dad shouldnt have gotten a lease if he knew he was going to
go over the mileage. Did he not know his driving habits when he
got the lease? In his lease aggreement it tells you there is a penalty for lease termination. Its a contract and you are voiding the contract.
And if you want to look at leasing as a rental, then so
be it.
I need to get a dependable car or learn to work on one? Is that for me
or for someone leasing a car? I own 3 of my own cars.
My GF on the other hand leases a car, she pays $275 a month for her Galant, so for 1 year it cost her $3300. A car like that depreciates ALOT more then $3000 a year. She put ZERO money down. Now the car is 4 years old, it will need tires, brakes, tune up, timing belt at 60k, tranny service, all the goodies that go with a old car. But now she simply hands the dealer back the keys.
So add it up- she had the car for 4 years at $13200. Put no money into it except oil changes, and no money down. Those cars are selling used now for $8000. She gives it back, and has no hassles of selling it to someone. Plus it was under warranty the whole time. I used to be the same way, against leasing, but for some people its the way to go. It works out to be about the same if you really add it up. You can always buy the car out at the end of the lease.
My cousin leases a $50,000 Audi A6 4.2 Quattro for $599 a month, you think you can get a car loan on a car like that and pay $599 a month? Maybe some people like working on thier cars, but for a investment advisor he doesnt want nor need to be turning wrenches so he can drive to work and meet clients.
go over the mileage. Did he not know his driving habits when he
got the lease? In his lease aggreement it tells you there is a penalty for lease termination. Its a contract and you are voiding the contract.
And if you want to look at leasing as a rental, then so
be it.
I need to get a dependable car or learn to work on one? Is that for me
or for someone leasing a car? I own 3 of my own cars.
My GF on the other hand leases a car, she pays $275 a month for her Galant, so for 1 year it cost her $3300. A car like that depreciates ALOT more then $3000 a year. She put ZERO money down. Now the car is 4 years old, it will need tires, brakes, tune up, timing belt at 60k, tranny service, all the goodies that go with a old car. But now she simply hands the dealer back the keys.
So add it up- she had the car for 4 years at $13200. Put no money into it except oil changes, and no money down. Those cars are selling used now for $8000. She gives it back, and has no hassles of selling it to someone. Plus it was under warranty the whole time. I used to be the same way, against leasing, but for some people its the way to go. It works out to be about the same if you really add it up. You can always buy the car out at the end of the lease.
My cousin leases a $50,000 Audi A6 4.2 Quattro for $599 a month, you think you can get a car loan on a car like that and pay $599 a month? Maybe some people like working on thier cars, but for a investment advisor he doesnt want nor need to be turning wrenches so he can drive to work and meet clients.
06-20-2003, 07:30 PM
#26
Senior Member
Thread Starter
Join Date: Dec 2002
Location: Houston Texas
Posts: 1,142
Yeah.....As long as you don't get stupid with the car leasing is the way to go. Only exceptions I see are on new cars like 50th Vette, Mach1, and similar cars that will only become collectables.
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