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Old 12-28-2010, 8:11 PM   #1
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Ultra Low Mileage Lease wtf?

WTF?

Cadillac SRX Crossover commercial says $2229 at signing and $429 per month, I think not bad, I then catch it's a ultra low mile lease. I have to go to website to figure it out. Thirty nine month lease @ 32,500 miles, that's just under 8400 miles per year.
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Old 12-28-2010, 8:17 PM   #2
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Any 39 month lease is a bad deal, especially when you consider that you're paying for a full year of taxes/registration fees on the car for the final three months you will have it. In Colorado it would end up being an entire year for the just the last month as we have a 60 day grace period to get plates in the first place.
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Old 12-28-2010, 10:27 PM   #3
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You think that's bad. I saw an ad for the local Porsche dealer today. They are running a lease deal on Boxsters and Cayennes. $459/mo for the Boxster and $999/mo for the Cayenne, 36 months I think, 5000 miles a year on each. Holy bad deals Batman!
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Old 12-28-2010, 10:31 PM   #4
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Quote:
Originally Posted by jupitersolo View Post
WTF?

Cadillac SRX Crossover commercial says $2229 at signing and $429 per month, I think not bad, I then catch it's a ultra low mile lease. I have to go to website to figure it out. Thirty nine month lease @ 32,500 miles, that's just under 8400 miles per year.
They are betting that a lot of people won't read the mileage restriction and then end up going way over and then simply decide to buy out the car at the end of the lease.

I always scratch my head at those...The BMW advertised leases that only give you 10k miles a year also kind of make me scratch my head.
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Old 12-28-2010, 10:45 PM   #5
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Quote:
Originally Posted by neuronbob View Post
You think that's bad. I saw an ad for the local Porsche dealer today. They are running a lease deal on Boxsters and Cayennes. $459/mo for the Boxster and $999/mo for the Cayenne, 36 months I think, 5000 miles a year on each. Holy bad deals Batman!
That and I saw a Panamera Turbo tonight with a $165k sticker. HOLY FAWK!!
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Old 12-28-2010, 11:11 PM   #6
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That and I saw a Panamera Turbo tonight with a $165k sticker. HOLY FAWK!!
Damn, that would be more than $2500/mo payment if you financed it for 60 months
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Old 12-28-2010, 11:20 PM   #7
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My MX5 was $5k at signing, $289 monthly with 19.5k miles/year.
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Old 12-29-2010, 6:02 AM   #8
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I think anything more than 2 years is a waste. At 39 months, just buy the thing.
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Old 12-29-2010, 12:13 PM   #9
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why would anyone want to lease for 39 months? the norm is usually 36 months w/ 12K miles a year! anything higher than that is a waste; might was well just buy the car. i've seen quite a few people with 2 year leases; if you want a new every other year, this is the way to go.
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Old 12-29-2010, 12:17 PM   #10
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Quote:
Originally Posted by o2cls View Post
My MX5 was $5k at signing, $289 monthly with 19.5k miles/year.

That sounds like a lot...
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Old 12-29-2010, 12:33 PM   #11
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I don't know what you guys are smoking with this 2 year lease stuff. The average lease term is 36 months and they typically have the best deals. Car makers push the 36 month lease with more attractive money factors and better residuals than two year leases. I have a 39 month lease and am quite happy with it. My payment is about $200/mo less than if I bought it and after just over 3 years I can get a new one without ever having been out of warranty. Seems like a no-brainer to me....
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Old 12-29-2010, 12:42 PM   #12
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My lease is for 10k miles a year. I got the car on June 17, so far I put 4200 miles on it.

I put 12k miles on the TL in 16 months. So these low mileage leases are not a bad idea for some people.

As for the lease on the boxster - chances are it won't be a daily driver so even 5,000 miles may be enough
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Old 12-29-2010, 12:54 PM   #13
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As for the lease on the boxster - chances are it won't be a daily driver so even 5,000 miles may be enough
that is normal yearly mileage for a p-car
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Old 12-29-2010, 6:10 PM   #14
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Still, the P-car deal is awful. I would drive it only six months a year and paying for a car that I wouldn't use is just a waste of money.
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Old 12-29-2010, 6:50 PM   #15
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I've never been a lease guy. It just seemed like a waste to me to "rent" a vehicle for 2-3 years.
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Old 12-29-2010, 8:18 PM   #16
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I've never been a lease guy. It just seemed like a waste to me to "rent" a vehicle for 2-3 years.


I suppose it allows you to get into a car without the upfront cost...a large down payment... thereby allowing you to have more car than you'd actually be able to afford.
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Old 12-29-2010, 8:22 PM   #17
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I am not against leasing depending on money factor and residual on the car.

Sometimes you can make the numbers to work out where you are just paying for the depreciation of the vehicle, same money loss as if you were to finance it.

Of course if you were someone who drove a lot or kept cars for longer than 3-4 years then its not for you.

I never leased before but if the M3 at the time had good rates then I would have done it.
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Old 12-29-2010, 8:22 PM   #18
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2011 civic LX lease

$140 month for 36 months and they make the first payment ($1000 down) 12,000 per year... Or $172 per month with $0 down.

Either case $11,900 residual

Total out of pocket $6192 for three years
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Old 12-29-2010, 8:22 PM
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