Leasing a car...
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On The Tree
Joined: May 2002
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From: Randolph, Ma
Leasing a car... Hey all, I'm thinkin of leasing a car for my daily driver, something that'd be around $150/month or so, and have a few questions. I know about the mileage restrictions, but what else is there in a lease contract? Also, in some ads I see 25% of MSRP as cap cost, is that what I have to put down? I'm just trying to see the pros and cons of leasing. I've had 2 DD/beaters, and it seems that I always end up spending alot of money on stupid **** just to keep my cars running. Any one know of any good deals in MA? Any advice would be appreciated.
Pros: You only pay a portion of the sales tax in your monthly lease payment, you can have the portion of the excise tax that you have to pay figured into your lease payment, as well. You're driving a brand new vehicle w/a warranty. Cons: You have to carry heavy insurance, You're responsible for any damage done to the car when you turn it back, You usually have to put down a sizeable down payment, which you never see again, You're limited to the amount of miles you can drive the car per lease agreement--if you go over the alloted mileage, you pay large amounts per mile for all overages. That's a start.... WJ
On The Tree
Joined: Aug 2004
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I deal with this everyday... heres the bottom line. Buying vs leasing. buying is a higher payment but for someone who drives a lot and will keep the car for a long period of time. Leasing is for someone who wont put that many miles on the vehicle, cheaper payments and low maintance. But you will never own the car unless you buy it out. But if its just a DD and you wont go beyond the miles, go for it.
it depends on what kid of deal you get. I leased a 04 nissan sentra spec v. I was allowed to put 15k on it a year and I was paying about 250 a month without a downpayment. and that was for a 18k car. I drove it for 6 months...got bored..and traded it in for my 01 SS....and i broken even on the trade amount that was offered and the amount that it was gonna take to buy the car. so if its only a dd and your not gonna put more than 12 or 15k on it a year...its not a bad deal, besides the insurance.
TECH Enthusiast
Joined: Nov 2001
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From: Rockland County, NY
Leasing is a great option for certain people, but I don't think you're gonna find much for $150/month without putting alot of money down. Which kind of defeats the purpose of leasing..
Thread Starter
On The Tree
Joined: May 2002
Posts: 131
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From: Randolph, Ma
Thanks alot for the responses guys. Yeah, I've been looking and there isn't going to be much of for options for $150/month. Just a thought I had cuz my DD seems to be turning into a money pit.
Originally Posted by Last of a Breed
Thanks alot for the responses guys. Yeah, I've been looking and there isn't going to be much of for options for $150/month. Just a thought I had cuz my DD seems to be turning into a money pit.
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On The Tree
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Originally Posted by BrandonDrecksage
well..if its a dd...go lease a scion xa or xb, there probably close to that, or a base hyundai or a chevy aveo....if its only a dd..who do you need to impress?
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On The Tree
Joined: May 2002
Posts: 131
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From: Randolph, Ma
Originally Posted by BrandonDrecksage
well..if its a dd...go lease a scion xa or xb, there probably close to that, or a base hyundai or a chevy aveo....if its only a dd..who do you need to impress?
