Professor

My baby (2005 RL purchased in June 2005) will cross over the 48K miles this week... goodbye warranty and hope shit sticks together.

Of course the funny part will be in 3.3 years when the lease expires and I bring the bitch back with about 200K miles. At 15 cents per mile overage, that will come to about $23K in fees. The residual is $20.5K.

I'll have a little fun, and tell them I'd rather give them the car back and pay the mileage rate at the higher price than keeping the car. After all the paper-work, I'll change my mine and give them the $20.5K, and I have car worth maybe $5K.

CGTSX2004

iTrader: (1)

barely a year and you're already at 48k? I think leasing was not the right direction for you...

vp911

neuronbob

Why did you lease?

Sclass88

My dad got his TL in November of 2005 and he has about 35K on his 05... I thought that was a lot but 48K!?!?

Good Luck with trading that in... the dealership will rape you with the milage charges

Ibn Rushd

Hmm...that's it? When we had the van 200 in three years...Haha.

bearcat2000

The way it looks to me is that he's going to keep it, that way he doesn't have to pay them the extra charges. That would be a no brainer.

lindros2

Some people lease instead of buy because it's a lot lower up-front cost ($1.5k versus $30k in my case).

The great thing is that it gives you 3 or 4 years to decide whether you really want the car.

The downside is that you get "double-hit" on costs -- that is, you pay for use of the car PLUS use of the money (purchase price + depreciation). I didn't understand (or factor) this piece until before my RL lease (and it comes out to be about $50/month). So theoretically you should just be paying depreciation + interest, but this portion is factored in (for among other things) to discourage folks from leasing instead of buying when that was their original intent.

Rob L

That is a lot. 35K in 6 months vs 48K in 11 months, assuming both cars were bought at the start of the month although I doubt each were but that's the only way I can compare them. It would be 5833 per month for your dad's TL vs 4363 for Prof's RL.

Your dad is a driving machine...as is prof!

SodaLuvr

I really do not understand why you leased...