That's my question. Any of you lease a vehicle? I know it's typically best to buy, but I'm curious from those that lease, why in their opinion it's a good deal or a good move. Anyone?

Depends.

 

How long do you typically own a car before wanting to trade it in?

 

If you finance it how many months do you see the loan being?

That's my question. Any of you lease a vehicle? I know it's typically best to buy, but I'm curious from those that lease, why in their opinion it's a good deal or a good move. Anyone?

Throwing in the towel?

I could never handle a mileage restriction. How many you drive/year should be a big consideration.

I could never handle a mileage restriction. How many you drive/year should be a big consideration.

 

They have leases for all kinds of mileages.

 

It still may be the best way to go financially.

I'm thinking about leasing as well. My girlfriend only drives 50-100 miles a week so the mileage isn't a big deal.

 

I've always heard you should never put money down on a lease.

I'm thinking about leasing as well. My girlfriend only drives 50-100 miles a week so the mileage isn't a big deal.

 

I've always heard you should never put money down on a lease.

 

Many of the advertised leases you see come with a down payment requirement. Sometimes you can simply not put that money down and have your payment be higher than the advertised. Divide the down payment by the lease term and that will be about how much higher your lease payment is.

Dealers do a bad job of explaining leases. More people should.

 

Used to be that the average time before trading in a vehicle was around 39 months. Average loan is probably now close to 60 months.

 

In many cases when people go to trade in their car it is worth LESS than what they actually still OWE on it ie they're upside down.

 

So , if you're upside down $3,000 that means you're adding $3,000 to your new loan payment. So the $25,000 car you bought is now $28,000 for loan purposes. You owe $28,000 when you drive it off the lot and immediately the value of the $25k car is now $21k. If that is you then you SHOULD consider leasing. Even if you have to pay a mileage penalty you're still WAY ahead financially.

Never finance a car over 36 mos. Pay it off, take care of it and it will last for years and you can bank alot of cash. Go for a car with a top resale value such as a Honda or Toyota. Thats my 2 cents.

I could never lease a car, drive over 30K miles in a year or more. Just not worth it, drive them till they die, get a new one.

Depends.

 

How long do you typically own a car before wanting to trade it in?

 

If you finance it how many months do you see the loan being?

I typically own until they won't run anymore, but don't know if I want to continue that or not.

Throwing in the towel?

Not on my car, I just know that the wife's car is near the end of it's time. She doesn't want to get rid of it though.

I appreciate all the info thus far. Anyone have anything to add? Are there pitfalls other than mileage to worry about?

Do not do it, ask at work who has done it. If it was a good deal more would do it.

I always lease, get 18,000 miles, and get a new one every 2 years.

 

If you'd rather buy, get a low mileage used car.