evan9381 Posted January 2, 2012 Report Share Posted January 2, 2012 let me know. i'm getting to the point i'm wanting to get into a newer car. i've seen some ads with decent lease rates, and it's got me thinking. i don't think i'd have any issues with going over any mileage restrictions, as my drive to/from work is 10 miles round trip, and im usually in town. im getting ready to start doing some research, but i wanted to hear first hand from people who have/do lease a car. Quote Link to comment Share on other sites More sharing options...
KillJoy Posted January 2, 2012 Report Share Posted January 2, 2012 If you want a lower car payment, can stay within the Mileage, like always having a car under Warranty, want a new car every few years, are willing to ALWAYS have a car payment and do not want to modify it, I say go for it! :thumbup: KillJoy Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted January 2, 2012 Report Share Posted January 2, 2012 New vette, $449/mo. Do itttttt. Quote Link to comment Share on other sites More sharing options...
carl1647545492 Posted January 2, 2012 Report Share Posted January 2, 2012 Its a judgement call if you think its worth it or not. Personally I,m not a fan lots of small print and gotchas,what would swing it would be if you could write it off as a business expense,otherwise your just renting a car for a few years. Quote Link to comment Share on other sites More sharing options...
carl1647545492 Posted January 2, 2012 Report Share Posted January 2, 2012 Clark howard on leasing http://www.clarkhoward.com/categories/cars/leasing/ Quote Link to comment Share on other sites More sharing options...
M0nk3y Posted January 2, 2012 Report Share Posted January 2, 2012 What cars are you looking at? Quote Link to comment Share on other sites More sharing options...
evan9381 Posted January 2, 2012 Author Report Share Posted January 2, 2012 What cars are you looking at? anything thats not my current car. lol. if i can find something i can fit 4 adults into comfortably, keyless entry, power windows/locks/mirrors, MT, A/C, i'd be happy. im just tired as having a POS as a DD. in the end, i'll probably keep my current car as well, since outside of my FT job i run pizzas a night or two a week for some extra $, and i wouldn't do that in a new car. Quote Link to comment Share on other sites More sharing options...
carl1647545492 Posted January 2, 2012 Report Share Posted January 2, 2012 Dave ramsey frugal is the new sexy http://www.daveramsey.com/article/drive-free/ 1 Quote Link to comment Share on other sites More sharing options...
downingracing Posted January 2, 2012 Report Share Posted January 2, 2012 I lease our (family) car and am on lease #5. Never had any issues and get to pay a portion of the value and hand the keys back when it is out of warranty and get another. Works for me - but I do a good bit of research before making a lease agreement... And you can modify the car all you want. Just keep the OEM parts and put them back on at the end of the lease. No different than mods made to a car under warranty and then the stock parts go back on for warranty work. (I don't do this, but know folks who do). Quote Link to comment Share on other sites More sharing options...
Littleguy Posted January 2, 2012 Report Share Posted January 2, 2012 People should be required to watch that Dave Ramsey video before they sign up for a car loan, lol. Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted January 2, 2012 Report Share Posted January 2, 2012 Dave ramsey frugal is the new sexy http://www.daveramsey.com/article/drive-free/ Stock market average of 12%? :lolguy: Quote Link to comment Share on other sites More sharing options...
Aaron Posted January 2, 2012 Report Share Posted January 2, 2012 Stock market average of 12%? :lolguy: I know, all of his calculations are extremely liberal. His point is valid, but the numbers make it a bit of a "perfect picture" type thing. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted January 2, 2012 Report Share Posted January 2, 2012 Leased one time. Once it was up I really felt like I was left with nothing. It was great while it lasted since I was into a brand new car at 18 but even though I knew I was just leasing it from the start, 3 years later I couldnt help but feel I was part owner having payed for so long. I think leasing is for those who have excess money. Quote Link to comment Share on other sites More sharing options...
M0nk3y Posted January 2, 2012 Report Share Posted January 2, 2012 anything thats not my current car. lol. if i can find something i can fit 4 adults into comfortably, keyless entry, power windows/locks/mirrors, MT, A/C, i'd be happy. im just tired as having a POS as a DD. in the end, i'll probably keep my current car as well, since outside of my FT job i run pizzas a night or two a week for some extra $, and i wouldn't do that in a new car. I know there isn't many BMW lovers here...but look at CPO BMWs (if you don't mind some miles and not brand spanking new). If not, BMW right now is pulling out some really good lease deals right now. IIRC they are like $299/mo for a 328i. Dunno if that is in your budget, but if you want something in that route it may be something to look into. Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted January 2, 2012 Report Share Posted January 2, 2012 I know there isn't many BMW lovers here...but look at CPO BMWs (if you don't mind some miles and not brand spanking new). If not, BMW right now is pulling out some really good lease deals right now. IIRC they are like $299/mo for a 328i. Dunno if that is in your budget, but if you want something in that route it may be something to look into. +1 BMW has some outstanding lease offers throughout the year! Quote Link to comment Share on other sites More sharing options...
Aaron Posted January 2, 2012 Report Share Posted January 2, 2012 Their leases are usually 3500 to 5k down, which is the same as raising the payment by at least 100 for 36 months. Essentially 400-500 with zero down. Putting money down on a lease isn't something I would do. Way too many good lease deals right now. Central Ohio VW dealers have Jetta sedan for 189, zero down. GTI is 339 with zero down. Not to mention the accord/civic etc. Leasing is a great option for those that treat their cars well, don't go over on miles and understand what leasing means. Also, most people that finance don't have anything for YEARS either. Just because you finance the car, doesn't mean you have anything other than debt. Same as a lease, IMO. Quote Link to comment Share on other sites More sharing options...
evan9381 Posted January 2, 2012 Author Report Share Posted January 2, 2012 And i do love me some BMWs...will have to look into that Quote Link to comment Share on other sites More sharing options...
M0nk3y Posted January 2, 2012 Report Share Posted January 2, 2012 Bam, I was right: http://www.bmwusa.com/standard/content/Vehicles/2011/3/328iSedan/OfferDetail.aspx?enc=NltiQY043ppNSmD1RBgeGBpHW8C6X9yVnp5jOkZvxLyjvqMebROKSngHyxYV6/Mo You can search for other offers as well. Quote Link to comment Share on other sites More sharing options...
Aaron Posted January 2, 2012 Report Share Posted January 2, 2012 add 100 per month for zero down payment, and taxes, that turns it up to about 425 for a base 3 series. Not a bad payment I guess, but it certainly wouldn't get my money. Quote Link to comment Share on other sites More sharing options...
KillJoy Posted January 2, 2012 Report Share Posted January 2, 2012 Bam, I was right: http://www.bmwusa.com/standard/content/Vehicles/2011/3/328iSedan/OfferDetail.aspx?enc=NltiQY043ppNSmD1RBgeGBpHW8C6X9yVnp5jOkZvxLyjvqMebROKSngHyxYV6/Mo You can search for other offers as well. $3500 Cash due at signing for a car you then have to pay $300 / Month to Rent.... This would be equal to $0 Down and $430 / Month. KillJoy Quote Link to comment Share on other sites More sharing options...
jeffro Posted January 2, 2012 Report Share Posted January 2, 2012 keep in mind your insurance goes up if you lease, compared to owning the title to a vehicle. Unless you carry full coverage on it anyways. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted January 3, 2012 Report Share Posted January 3, 2012 let me know. i'm getting to the point i'm wanting to get into a newer car. i've seen some ads with decent lease rates, and it's got me thinking. I don't think i'd have any issues with going over any mileage restrictions, as my drive to/from work is 10 miles round trip, and im usually in town. im getting ready to start doing some research, but i wanted to hear first hand from people who have/do lease a car. Leasing is fine so long as you do it right. Don't worry about mileage as there are no restrictions. Leases are structured to account for mileage / depreciation so if you drive more than the typical advertised terms, that's fine, just pay for more miles. Typically they cost less up front than what most would be reimbursed for from a company. Not necessarily applicable to you but I wanted to clarify things a bit as often times people think mileage is a restriction. It's not. are willing to ALWAYS have a car payment and do not want to modify it, I say go for it! True you always have a car payment, but then most people usually do. If one is the type of person who pays cash for a car and drives it forever, then true, likely not for you. However, I paid $24k OTD for my MS3 so while I have no car payment, it's still an expense that can be broken down per month. i've owned it for 30 months thus it's cost me about $800mo. so far. You do the math on any vehicle purchased and see how long it takes to make it worth it. otherwise your just renting a car for a few years. it's not really any different for the average buyer until month 42 give or take a few. (ie. whenever you end up having equity in the car you finance) The average new car buyer just like a house is basically paying interest and depreciation until a certain point regardless. The difference is leases offer far less exposure and risks, so they actually can be better. Especially for a younger person who may have some life changes in a shorter period of time. 3 years later I couldnt help but feel I was part owner having payed for so long. I think leasing is for those who have excess money. You paid for the depreciation the banked rolled the dice on so in reality even if you financed it for 36 months, you still wouldn't likely own any of the car. You'd have paid for depreciation and finance charges. Their leases are usually 3500 to 5k down, which is the same as raising the payment by at least 100 for 36 months. Essentially 400-500 with zero down. Putting money down on a lease isn't something I would do. AAron is spot on. NEVER put money down on a lease. Never. If you can't afford the vehicle without money down, you're buying too much car for your budget. Cap Cost Reductions defeat the purpose of a lease and that is to keep your capital in your pocket. You won't get it back if you exit early (which if done right you will) and you are essentially re exposing yourself to the risk of loss of that equity leasing protects you from. I grew up in the car business with a family that owned three points. If you have any questions, just call me. You have my number. Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted January 3, 2012 Report Share Posted January 3, 2012 +1 BMW has some outstanding lease offers throughout the year! As much as I love them..... .....I would NEVER recommend anyone to lease a car. Complete waste of time and money unless its for a business and is 100% written off... Quote Link to comment Share on other sites More sharing options...
Green Bastard Posted January 3, 2012 Report Share Posted January 3, 2012 the one nice thing about a lease is that when the term is over then you have the option to buy, and if you decide to buy they usually make you a good deal in terms of an interest rate, also I'm sure that leasing a car first would help you to get a loan on it afterwards if you have poor credit (at least if you were making payments on time anyhow). Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted January 3, 2012 Report Share Posted January 3, 2012 .....I would NEVER recommend anyone to lease a car. Complete waste of time and money unless its for a business and is 100% written off... I have return to work today, but over a beer and a keyboard later, please let's debate this one :gabe: Quote Link to comment Share on other sites More sharing options...
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