For people looking to lease....
#1
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For people looking to lease....
If you dont have a financial calculator, or want residual values, this is a good standard for figuring out which car to lease.
http://www.leasecompare.com/#
http://www.leasecompare.com/#
#2
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Thats pretty useful. I just went to the site to see what a G35 coupe would cost w/ $2000 up front and it quoted $407.00 per month for 39 months. I went to an infinit dealer and they told me mid $400's
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I never understood why people put money down up front on a lease. It defeats the purpose of a lease and you also lose that money if your car is lost due to an accident.
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Originally posted by SwankCLS
It defeats the purpose of a lease and you also lose that money if your car is lost due to an accident.
It defeats the purpose of a lease and you also lose that money if your car is lost due to an accident.
You can buy it on a regular financed auto as well, costs about $300>$600 normally & is well worth the money, especially on a high dollar unit.
Anyhow, those calculators are a general guideline...don't expect it to be close when you go into a dealership...you may get a big suprise if so.
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Why not to put money down on a lease
GAP insurance doesn't help get your cap reduction payment back after a loss.
GAP insurance doesn't help get your cap reduction payment back after a loss.
#6
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Originally posted by NJTypeS
Thats pretty useful. I just went to the site to see what a G35 coupe would cost w/ $2000 up front and it quoted $407.00 per month for 39 months. I went to an infinit dealer and they told me mid $400's
Thats pretty useful. I just went to the site to see what a G35 coupe would cost w/ $2000 up front and it quoted $407.00 per month for 39 months. I went to an infinit dealer and they told me mid $400's
as the other fellows already said, you should always avoid down payment for a lease. Thats only for buying.
#7
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Correct me if I am wrong but if you put money down on a buy and got into an accident you would still lose your down payment unless you buy cars that appreciated vs depreciate. Money down usually covers tax, tags, bank fee's etc. leasing makes good business sense!
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Originally posted by SwankCLS
Why not to put money down on a lease
GAP insurance doesn't help get your cap reduction payment back after a loss.
Why not to put money down on a lease
GAP insurance doesn't help get your cap reduction payment back after a loss.
The end result is the same. In fact, the more you finance by NOT putting money down, the MORE money you will be charged interest on. So, how is it being charged finance fees better than putting money down?
And I saw the VERY GENERAL info they gave on the site...with their WISE advise to invest the down money in a savings account...
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Originally posted by DaBoomVatz
Correct me if I am wrong but if you put money down on a buy and got into an accident you would still lose your down payment unless you buy cars that appreciated vs depreciate. Money down usually covers tax, tags, bank fee's etc. leasing makes good business sense!
Correct me if I am wrong but if you put money down on a buy and got into an accident you would still lose your down payment unless you buy cars that appreciated vs depreciate. Money down usually covers tax, tags, bank fee's etc. leasing makes good business sense!
#10
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Originally posted by DaBoomVatz
Correct me if I am wrong but if you put money down on a buy and got into an accident you would still lose your down payment unless you buy cars that appreciated vs depreciate. Money down usually covers tax, tags, bank fee's etc. leasing makes good business sense!
Correct me if I am wrong but if you put money down on a buy and got into an accident you would still lose your down payment unless you buy cars that appreciated vs depreciate. Money down usually covers tax, tags, bank fee's etc. leasing makes good business sense!
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Yeah...the more I read on that site(which is by no means an arbitrary third party for unbiased information), the more I can see their advise leaves alot to be discussed.
It's good in a general sense...for pure beginners, but I think they miss some of the finer points.
Like they say you should lease longer if you keep your cars longer...that's hands-down BAD info. It has to do with the money-factor(interest rates) and residuals, not how long you keep your car. If you keep cars for a long time...you should be FINANCING anyhow, not leasing.
There is always a "sweet-spot" with lease figures...and they always depend on that particular car. You just have to ask a bunch of questions...sometimes a 3 month difference in lease terms will drop your rate a few percent...Case in point, my 02 CLS. 39 months thru Honda was the sweet spot, whereas both 36 & 42 months were at higher rates(over 3% higher
).
It's good in a general sense...for pure beginners, but I think they miss some of the finer points.
Like they say you should lease longer if you keep your cars longer...that's hands-down BAD info. It has to do with the money-factor(interest rates) and residuals, not how long you keep your car. If you keep cars for a long time...you should be FINANCING anyhow, not leasing.
There is always a "sweet-spot" with lease figures...and they always depend on that particular car. You just have to ask a bunch of questions...sometimes a 3 month difference in lease terms will drop your rate a few percent...Case in point, my 02 CLS. 39 months thru Honda was the sweet spot, whereas both 36 & 42 months were at higher rates(over 3% higher
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