KimboBread

I'm trying to jump into a TL soon. I saw this ad for a lease transfer. I admittedly do not know much about leases. Please tell me what you think of these lease terms:

? ?
Thanks for you help.

blazinginder

if you factor in the 2k into the lease payments...it comes out looking like a deal of

$0 down and $451/month and you've only got 18k miles for the remaining 26 months...so 692 miles per month


$451 payment
692miles/month
Year old TL navi...NOT a good deal if you ask me...more like he should be the one paying YOU the 2k

KimboBread

I was worried of that. I would consider it more if there was no down payment, but sounds like it's not a deal at all. Thanks for your reply.

blazinginder

I'm sure others can chime in more accurately on how good/bad the deal is, as I'm not as well informed on leases as those who have leased their cars (very confusing sentence, my apologies haha)...but it's pretty clear that 692 miles/month just wouldn't be enough for myself and many others and that people have leased new TL's (if I recall correctly) with very little if any down for $4xx per month

ndabunka

Ah, its a VERY CRAPPY deal. Sounds like the original seller didn't understand leasing when he bought it. He's put 18K miles on it in only 8 months? How the heck did he do that? Drive it coast to coast 4 times? He's already burnt up every BIT of his initial down payment. At this rate of mileage consumption, he would be WELL over the 36K MAXIMUM by his 16th month. That would mean he has to park it for the next year and three-quarters. His only other option would be to buy out the lease (essentially paying for it TWICE). If he can get you to "take over" payments, he can differ that particular pain to YOU... Even if you drove very few miles yourself, your getting ripped a new one because you don't actually get to sit in the car for many miles AT ALL. The line about the SUV is just that. If it looks like a turd and smells like a turd....Dude, It's a TURD of a deal. Don't walk away though, RUN!

Bearcat94

HAH!

Has a 4-month old and wants out of his 8 month lease? Right. They knew they'd be having the kid (she would've been 5 months) when they signed up and did it any how. Why? Because a TL with 1 kid is PLENTY of room, that's why.

He wants out because he is WAY over mileage. 10,000 over at this point. IIRC, that's $0.20 per mile or $2,000 SO FAR.

So, your $2k DP PLUS the $2k Over Mileage is what you're really starting out with.

$4K on a $375 lease payment for a used car. No way.

We've got $424/month and $2,500 down on the same lease term. If we would have put $4,000 down (i.e. your deal), our payment would have been ~$380/month on a Brand New Type-S.

If we'd have put $6k down (like the seller) our payment would have been $325 on a TL-S.

Keep shopping.

KimboBread

Thanks for all the help guys. Looks like I will be looking for a TL for purchase. Looking for a 05/06 w/ nav for 20-23k right now. I am just not looking forward to dealing with the car salesman.