dslreports logo
    All Forums Hot Topics Gallery


how-to block ads

Search Topic:
share rss forum feed

Iowa City,IA
reply to monchis

Re: Do you lease cars?

You need to figure in all the upfront money that's required. Also remember that you'll most likely be charged at the end for any/all damage, plus most leases require a minimum amount of tread left on the tires, all in addition to the over mileage penalty.

reply to monchis
I do, buy only because I can write it off. Makes more sense, and the paperwork and calculation is very straightforward.

Allendale, NJ
reply to monchis
I like leasing. New car every 36 or 39 months, and I am always covered

Irun Man
Spartan up
Walden, NY
reply to monchis
I have leased two vehicles in almost thirty years of vehicle operation. I made the decision to do so because it seemed the most cost effective method at the time, I usually purchase.

First was a 2006 Honda Accord VP (base model). I needed a reliable car quickly with nothing to trade since my ride broke and was "pronounced dead" at the Chrysler store next door. First Honda to grace our driveway and not the last (we've bought two more since, one is still here with 105K miles and still runs like new). The other was a replacement for the Accord, early lease return and the penalty wasn't too bad.

Second lease and current daily driver is a Toyota Prius PHV. Last year Toyota (and also Chevrolet with the Volt) introduced a VERY attractive lease offer incorporating the federal EV tax credit, also Toyota Financial's cost of credit was nearly ZERO. It was the best way to get into this vehicle with the expectation that I might choose to trade up again at lease end.
It's a dirty job, but someone's got to do it.

reply to monchis
The amount of bad information in this thread is just amazing.

- For those of you who say I buy cash only, good for you, you are also screwing yourself out of the best price you can get on a vehicle. Dealers get a nice chunk of money from the financing company for originating the loan. If you time your purchase right and you know this fact, you can get a very nice deal, the key here is to make sure that there is no pre-payment penalty on the loan, or the penalty goes away after a short term.

- As far as the maintenance. This is completely dependent on the manufacturer. Some have it built in, some do not, but offer plans that are much cheaper than doing the actual maintenance at the dealer (not to be confused with the dealership plans). There is also a wide margin of what's considered "wear and tear" items between brands. Knocking a mirror off, or cracking a windshield, that's insurance territory unless the car was parked and the windshield just spontaneously exploded because the unibody collapsed. Again all of this is completely manufacturer related and in some cases the dealerships. In many cases you can get the manufacturer to authorize the dealership to do a "good will" repair on items that are not covered.

- putting money down on the lease. DO NOT PUT MONEY DOWN ON THE LEASE! If you total the car pulling out of the dealership the insurance will still pay only to the finance company. You are not getting anything back, regardless of the value of the car at the time of an accident.

this. If you put money down on a lease, you're making a big mistake. If you can't afford the payments with zero down, then you can't afford to lease the car.

As far as repairs, being that the car is required to be *fully* covered while on lease, anything that needs to be repaired from the result of an accident is covered by your deductible (mines about $500)

Los Angeles, CA
reply to monchis