JS + XES

iTrader: (1)

I'm thinking of selling my car and taking out a lease deal for the replacement.

I've never leased out a car before.

Where should I start? I'm trying not to pay too much upfront (under $1k) and keep the lease payment as minimum as possible (under $300).

Wanted a FRS but I can tell those won't fit in my budget already.

What's a good website where I can compare lease deals on various models?

Can slightly used vehicles be leased out? Is it a bad idea?

Thanks guys.

Will Y.

Consider why you want to get rid of your car, and why a lease instead of purchase replacement, before going that route.

As a general rule, I'd only lease for business purposes, because most lease deals are going to cost more over time than purchases.

There are some lease sites like swapalease.com or leasetrader.com that will give you an idea of lease pricing and some general leasing info.

G/L.

oonowindoo

I hardly see lease for "used cars" regardless how new it might be.

Now with $1000 drive off (first month payment, DMV, other fees) and $300 a month (with tax included about $30)

So you are looking to spend $270 a month or less with $300 down and total $1000 drive off.

if you want a 12k per year lease / 36 months. then you are looking at cars like Accord EX ($25k)


there are exceptions with super promotions on cars like G37 Sedan.

You might be able to pick 1 up ( Auto Sedan) for a little over $300 a month with $1000 drive off. (Auto only)


you don't have a lot of choices with your budget unless you want to drive accord, Camry, altima, Sonota and etc...

Moog-Type-S

Leasing a used car

Please go into more detail as to why you want to go the lease route.
Then we can better answer your questions.

JS + XES

iTrader: (1)

I'm a newly wed as you guys probably know. Both my wife and I are living in the States with working visa. My current employer is sponsoring me and wife to get a green card. The legal fees and other related expenses are about $20k.

We both make pretty good money together. We are going to be fine in the long run, but just need some lump sum of cash to burn this legal fees and start over.

If I sell my car today privately, I can get about $8-9k cash back. We both have pretty good amount of saving in the account to get rid of all debt immediately, which is really the reason why I want to sell my car and take out a lease deal for 3 years.

I love my car and have no other reason to sell this. It's kinda disheartening but I gotta do what I gotta do to make my family happy I guess.

CGTSX2004

iTrader: (1)

At $1000 drive-off and no more than $300/month (assuming that you are taking into account the taxes you would have to pay monthly, so really more like $270/month) you can get into some decent options:

For cars with high residuals, you should be approaching the $30k mark on the high end and about $25k on the low end with cars that have poorer residuals. You should also research on Edmunds.com to see what lease deals a manufacturers are running now because often with the promotional rates, you can get into some pretty decent cars for not that much money.

That said, you might want to take advantage of the current market and look at a few cars like the Volt, which one dealer in New England is advertising at $229/month with $999 due at lease signing on a 39 month lease. That's an insane deal on a car that is valued at close to $40k.

And as for leases on used cars, forget it. I looked into leases on pre-owned Audis many years ago and the rates were absurd. Most manufacturers will not even allow a lease on a pre-owned vehicle so finding someone to finance the deal can often be the toughest part.

JS + XES

iTrader: (1)

Great. Thanks for the feedback.

I'll look into Edmunds.com for the promo deals.

Really, the monthly payment can be flexible as I'm comfy with payments. It's just that I can't burn too much up front. That's all.

I really wanted a FRS, but I don't think I can get a FRS with my criteria, right?

I kinda like CRZ as well.

nspec_ya4

iTrader: (38)

Look out for honda deals when evrr they come around
Especially when they're about to change the model.

My brother picked up a 12' Accord 4dr SE with leather and heated seats for 0 down and about 230/month. It was a steal. Just have to wait for the right deals.

I can ask my buddy, he is the new car manager at a big honda store here if u are interested

nspec_ya4

iTrader: (38)

Btw , its a lease for 3 years at 12k miles / yr

JS + XES

iTrader: (1)

Wow that's super cheap. haha

It'll be awesome if you can ask if Honda is doing any promo on their models. I'm in 90010 area.

Thanks man.

JS + XES

iTrader: (1)

Got it. I only drive like 8-9k miles per year!

JS + XES

iTrader: (1)

http://web.vw.com/templates/Service?...&zipcode=90010

Are these good deals? Seem like very good deals to me.

Everything's like $0/$0/$0.

Maybe I should get a GTI?

nspec_ya4

iTrader: (38)

Read the fine print. TT$L will be about 1500-2000

AZuser

Add about another $1K if you lower it first

JS + XES

iTrader: (1)

Really?? Damn.. I just made an appointment to go see one on Wednesday..

LOL YES

Sarlacc

You have to look for the deals...really you JUST missed out on some good lease deals with some makers trying to dump their remaining 2012 models...That is how I stole the lease my highlander a couple weeks ago (and the fact it was a demo.)

That said...Honda is REALLY pushing to get rid of their civics before the redux hits the LA auto show in a few weeks.

If you can live with that, knowing a supposedly improved interior, etc is coming...you should be able to hammer out a great deal.

Forget Scion...they are no haggle and the FRS is too hot right now.

MR1

These deals look good enough to put me back in a VW for 42 months. I'm just not into any monthly payments ATM. G/L.

okckat

Dealer make more money leasing then selling, meaning you are paying more when lease than purchase for the same car. regardless of the deal it seem at the signing. reason they give you great deal is because its a great deal for them to make more money. isn't lease same as rent? Lease just sound better than rent.

JS + XES

iTrader: (1)

Read the thread before you post.

CGTSX2004

iTrader: (1)

Actually, he's in CA so the taxes are on usage only and rolled into the monthly payment so he'd just pay title and license fees, which should amount to around $500 in that area.

CGTSX2004

iTrader: (1)

Hmm....that's my problem with VW in general is that it just doesn't lease that well. The GTI prices out around $26k for a pretty well optioned car and the best they could manage on a long-ish 42 month lease is $309/month and that is for the most basic of cars which comes in at $24k? They are either making a killing on the money factor or the residual they are using is crap.

Sarlacc

And speak English...

Sarlacc

money factor is important...you want LOW LOW LOW

The money on my prius was .00001....and when I swapped to the highlander I got lucky with the same deal of .00001

It makes a HUGE difference.

nspec_ya4

iTrader: (38)

You must have learned from he say she say

pmptx

Hit up Shoofin, as he should be able to provide advice as he is in the leasing business in the NE.

JS + XES

iTrader: (1)

Just PMed Shoofin. Hopefully he'll be able to help me out a little.

I'm gonna go check out GTI tomorrow after work just to see how it is. I'll ask the exact numbers for the ttl and monthly payment.

Kinda worried since I've never done any leasing deals before.

JS + XES

iTrader: (1)

The internet manager emailed me this information.

Stock #V130586
MSRP: $25,060
Invoice is at $24.040
We will take it a step further and be at $23,587
On a 42 month lease with 12 thousand miles per year is our Sign and Drive special.
Zero down payment. With only a drive off fee of $358.15 due at signing
Your monthly payment comes out to only $310.74 Including taxes.

How's this?

oonowindoo

ask him to include Nav and make the payment to $300 then you got a great deal.

You will only be paying about $11000 in 3.5 years for the GTI... I think if you were buying, the depreciation will be more than that. That's why buying only makes sense if you are planning to drive the car till the wheels come off or if you are commuting 20k miles a year. For most of the people i know who get a car every 3-5 years. buying just does not make sense financially because even you sell it after 5 years, you will only get = or < than the additional 2 years of payment you made, if you are lucky.

If you like the car, you can buy it in 3.5 years and in most cases, your car will be cheaper to buy than the used ones on the market 3.5 years later.

JS + XES

iTrader: (1)

Got it. I'll talk to them when I visit tomorrow.

Thanks.

And yeah, I only drive 8k miles per year.. my MS3 still has so little mileage after 3 years of ownership.

iforyou

iTrader: (1)

I'm thinking about leasing too for my next car. Not trying to hijack the thread...but I'm wondering if I'm leasing a car, can I still mod it (lip kit, wheels, tires, suspension)?

CGTSX2004

iTrader: (1)

Actually, the deal is not bad given the existing advertised deal. The drive-off sounds right for registration and title and it sounds like the dealer is not charging much of a processing fee, which is rare. The monthly payment includes the tax which means that the actual payment itself is about $290, which is less than the advertised amount.

I would try for what oowindoo asked for and see if you can make it work. Also, see what Shoofin has available and try to see if the dealer will match it.

CGTSX2004

iTrader: (1)

Yes, but just plan to return the car to stock or nearly stock form when you are ready to return it. Most leasing companies prefer the cars to be in stock form when they are returned.

JS + XES

iTrader: (1)

I'm sure you can do those and put them back to stock when you return it.

I see I see. Great to hear that. I'll definitely try to ask for a better model with the same price. He did say he has several GTI at the dealer for this deal which is good til the end of this month, so hopefully I can get one with some options.

Thanks a lot for the feedback. Appreciate it.

Sarlacc

You want to put the pressure on....walk into the dealer close to closing on the 31st. Pending their inventory, they'll be way more willing to deal.

JS + XES

iTrader: (1)

Cool.

The deal is good until 30th this month.

I should check it out tomorrow and probably make my move on the last week of this month, huh?

CGTSX2004

iTrader: (1)

Honestly, if you're in no rush, just wait till the end of the calendar year as it is the end of the year, the end of a month, and the end of a quarter. It's when salespeople will do just about anything to close a deal to make their numbers. Just another option should you decide you have more time.

Sarlacc

Problem with that is gamble on the lease deals which change monthly.

JS + XES

iTrader: (1)

This is what I'm a little bit iffy about.

I feel like I can get a better deal maybe by the end of next week, but this national promo deal is only good til 30th. So, I don't know if it's a smart idea to wait til the last minute.

I'm checking out the car after work today. So, hopefully, I'll get some better idea on this deal.

Hopefully my credit is good enough for the promo deal anyway. It's been only 3 years since I got my ssn. haha

CGTSX2004

iTrader: (1)

Fair enough, but generally as long as you understand how the terms of the lease work, you can almost always negotiate the same deals even when they are not advertised. Plus, most of the November deals get extended into December anyways as the manufacturers look to drive strong numbers at the end of the year. Definitely a gamble, but also generally very good odds.

oonowindoo

When the sign and drive deal is gone, it probably would take 1-2 hours just to negotiate to this deal from MSRP.

It is a $25,000 car, there is only so much room in there for negotiation compare to ... $50,000 car.

Also it is a GTi, not a regular golf. I am even surprised they include GTi in this sign and drive promo.

Usually those "unique" models are never included in any Promo. Such as MS3, M3, M5, G37 IPL, AMG, GTi, ISF and etc...