You are correct from the consumer standpoint. I was just clarifying that the estimated value (residual) is not a guaranteed value other than when it comes to buying it at the end of the lease - which I would never do.

 

I agree. Defeats the purpose of leasing.

Give us your info.

 

Are you trading in a car now? If so, is it paid off?

How many miles do you expect to drive the new car annually?

Do you see yourself getting another car to replace this one in 3 to 4 years?

My car is paid off. I am hoping to put down a minimum of $3500 for my new vehicle.

 

I will come nowhere close to the 12,000 mile limit. I pretty much just drive to work and back. Beyond that my wife's vehicle - a lot nicer than my ride - is a company car and we take it everywhere. In the 7 years I have owned The Beaster, I have put almost 50,000 miles on it. Around 7,000 a year.

 

As to third question, I am not sure. Cars do not necessarily excite me to where I need a new one every few years, but my mind may change if I begin to lease.

My car is paid off. I am hoping to put down a minimum of $3500 for my new vehicle.

 

I will come nowhere close to the 12,000 mile limit. I pretty much just drive to work and back. Beyond that my wife's vehicle - a lot nicer than my ride - is a company car and we take it everywhere. In the 7 years I have owned The Beaster, I have put almost 50,000 miles on it. Around 7,000 a year.

 

As to third question, I am not sure. Cars do not necessarily excite me to where I need a new one every few years, but my mind may change if I begin to lease.

 

A few thoughts:

 

There are 10k miles per year leases which offer a higher residual which equals lower payment than a 12k miles per year lease. Ask about that.

Why do you want to put $3500 down? Figure about $100 per month lower payment on a 3 year lease. Could you save some of that money and still get a payment that works for you?

If you're not a "I get a new car every 3 to 4 years" you might just want to buy, put $3500 down, and then own a car that in 7 years will only have 50k miles on it.

My car is paid off. I am hoping to put down a minimum of $3500 for my new vehicle.

 

I will come nowhere close to the 12,000 mile limit. I pretty much just drive to work and back. Beyond that my wife's vehicle - a lot nicer than my ride - is a company car and we take it everywhere. In the 7 years I have owned The Beaster, I have put almost 50,000 miles on it. Around 7,000 a year.

 

As to third question, I am not sure. Cars do not necessarily excite me to where I need a new one every few years, but my mind may change if I begin to lease.

 

Make sure you ask what the purchase price off the car is. That will be the capitalized cost. Most leasing companies have an acquisition fee. Ask what that is. They also have a disposition fee for when the lease is turned in. Make sure to ask what that is. Should be stated in writing on the contract. In the state of Kentucky you are taxed 6% for any rebates or down payments as well. Your taxes are based on the base monthly payment. If the base payment is $300 then your taxes will be $18 a month. Making the payment $318. You save on taxes when you lease instead of purchasing. Some banks will also include your property tax as well in the payment. Make sure you ask about that too.

A few thoughts:

 

There are 10k miles per year leases which offer a higher residual which equals lower payment than a 12k miles per year lease. Ask about that.

Why do you want to put $3500 down? Figure about $100 per month lower payment on a 3 year lease. Could you save some of that money and still get a payment that works for you?

If you're not a "I get a new car every 3 to 4 years" you might just want to buy, put $3500 down, and then own a car that in 7 years will only have 50k miles on it.

 

I agree with this 100%.

A few thoughts:

 

There are 10k miles per year leases which offer a higher residual which equals lower payment than a 12k miles per year lease. Ask about that.

Why do you want to put $3500 down? Figure about $100 per month lower payment on a 3 year lease. Could you save some of that money and still get a payment that works for you?

If you're not a "I get a new car every 3 to 4 years" you might just want to buy, put $3500 down, and then own a car that in 7 years will only have 50k miles on it.

If he is truly one of those who only drives to work and back and doesn't care about getting a new car every 3 or 4 years he might want to consider what I do. I buy VERY cheap vehicles for less than $3500. Focus on things that are reliable and keep up with the maintenance. I drive ten miles a day during the week and rarely do any driving on the weekends but to absorb my ~monthly roundtrips to my Mother's I'd say the 10 miles a day is good for every day. I have no car payment, don't have to worry about financing, and have very cheap insurance. Sure, I'm a 28 year old single male who drives a minivan, but where I live my feet and bike are my primary means of transportation. I could care less what people think about what I drive and I have tons of storage space in the back (I removed the last seat). I've had my current van for ~six years and I'm pretty sure I can get a few more out of it. Bugatti seems like a perfect candidate for this since he has his wife's car to drive for everything but his work commute. I save a TON of money by doing this versus leasing or having to finance a new/semi-used car. I'm out zero money to the bank and thus pay the "actual" costs for my vehicle and no more. The money I save I get to spend on more important (i.e. fun) things than getting to work and back.

A few thoughts:

 

There are 10k miles per year leases which offer a higher residual which equals lower payment than a 12k miles per year lease. Ask about that.

Why do you want to put $3500 down? Figure about $100 per month lower payment on a 3 year lease. Could you save some of that money and still get a payment that works for you?

If you're not a "I get a new car every 3 to 4 years" you might just want to buy, put $3500 down, and then own a car that in 7 years will only have 50k miles on it.

12K was the best they offered.

 

$3500 was just the approximation of what I believe I can get out of The Beaster. Hopefully a little more. The more I put down the less I pay.

 

If I purchase, it will most likely be used. I have never considered owning a car every few years for a few reasons so I cannot say if I would like it or not.

Make sure you ask what the purchase price off the car is. That will be the capitalized cost. Most leasing companies have an acquisition fee. Ask what that is. They also have a disposition fee for when the lease is turned in. Make sure to ask what that is. Should be stated in writing on the contract. In the state of Kentucky you are taxed 6% for any rebates or down payments as well. Your taxes are based on the base monthly payment. If the base payment is $300 then your taxes will be $18 a month. Making the payment $318. You save on taxes when you lease instead of purchasing. Some banks will also include your property tax as well in the payment. Make sure you ask about that too.

The rates I have gotten have included all taxes. I have asked about the acquisition and disposition fees. I asked last week about my property taxes... it will just be a 1 time fee, or in other words how I pay it right now for the year. That was the only thing not included with my rate.

If he is truly one of those who only drives to work and back and doesn't care about getting a new car every 3 or 4 years he might want to consider what I do. I buy VERY cheap vehicles for less than $3500. Focus on things that are reliable and keep up with the maintenance. I drive ten miles a day during the week and rarely do any driving on the weekends but to absorb my ~monthly roundtrips to my Mother's I'd say the 10 miles a day is good for every day. I have no car payment, don't have to worry about financing, and have very cheap insurance. Sure, I'm a 28 year old single male who drives a minivan, but where I live my feet and bike are my primary means of transportation. I could care less what people think about what I drive and I have tons of storage space in the back (I removed the last seat). I've had my current van for ~six years and I'm pretty sure I can get a few more out of it. Bugatti seems like a perfect candidate for this since he has his wife's car to drive for everything but his work commute. I save a TON of money by doing this versus leasing or having to finance a new/semi-used car. I'm out zero money to the bank and thus pay the "actual" costs for my vehicle and no more. The money I save I get to spend on more important (i.e. fun) things than getting to work and back.

Sounds great in theory, and I do make a good candidate for it. I am not sure my wife will let me drive a lot less of a weenie vehicle than she has. I know it should not matter and it is stupid, but I do not know I could do it either to my ego She has a big ole SUV.

 

I will await the lecture on how silly that is.

The rates I have gotten have included all taxes. I have asked about the acquisition and disposition fees. I asked last week about my property taxes... it will just be a 1 time fee, or in other words how I pay it right now for the year. That was the only thing not included with my rate.

 

It sounds like a lease would work for you. What you have to decide is if a new vehicle every 3 years or so is what you want to do. With the miles you drive you can buy one over an extended term and accomplish the same thing pretty much.

The rates I have gotten have included all taxes. I have asked about the acquisition and disposition fees. I asked last week about my property taxes... it will just be a 1 time fee, or in other words how I pay it right now for the year. That was the only thing not included with my rate.

 

Don't be worked on payment, make sure you know what the true buying prices are.

Why don't you just buy a new car with 0% interest? That's what I did when Mazda has a deal going on. That way, you only have to pay the true cost of the car and you know everything that the car has been through. Also, I would buy used before I would lease a car.

Why don't you just buy a new car with 0% interest? That's what I did when Mazda has a deal going on. That way, you only have to pay the true cost of the car and you know everything that the car has been through. Also, I would buy used before I would lease a car.

I guess those have restrictions?

We got my wife's Camry with 0% financing during their Toyotathon. It's a 2011 nicely equipped and payment is like $300 a month. Can't ask for a better deal on a more dependable vehicle. That's on a brand new car.

Never even thought of leasing a car, I drive over 40,000 miles a year between all of my vehicles. All of mine are paid off, but I will be looking for a new car in the next year or too. Already at 200,000 miles on my 04.