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When is leasing a car a good idea?

Kurb

By Kurb,
in Huddle Lounge

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cookinwithgas Veteran

cookinwithgas

Posted
Posted

I lease, benefit is if you like a new car on a regular basis and don't put a ton of miles on the vehicle. Sometimes you can get really good lease deals on cars that are not moving all that great on the lot. Leasing means you get more car for the money but you have no real equity in it.

If you keep you cars for 4 years or more don't do it as a general rule. I lease my VW and like the process

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h0llywood Newbie

h0llywood

Posted
Posted

Thinking about getting a different ride soon.

Considering a lease.

 

Discuss

 

I have 2 car leases. But the answer depends on the following:

 

What kind of vehicle are you trying to lease? Make, Class

How far do you live from work? (This can be rectified)

How much are you willing to put down?

Are you self employed?

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pstall Newbie

pstall

Posted
Posted

I like not having a payment. I view that as a gained opportunity to put my money to work instead of a car payment. But you have to be smart and dont be a penny wise and a pound foolish either and keep throwing good money after bad by upkeep on a car.

The mileage can be tricky. You might stay under the miles but then you are paying to park your car. Which is umm odd.

Our next car I keep debating to lease or not. I hate payments but I have now crossed the threshold of too many repairs.

Sent from my SPH-L710 using CarolinaHuddle mobile app

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Brooklyn Bully Newbie

Brooklyn Bully

Posted
Posted

Leases are great if you have money, like having something new every 2-3 years, and if something happens the money you have will take care of it.

 

Before I moved up to non-car land, I leased a BMW 135i. Fuggin LOVED that thing. But there's no way I'd want to own it nor drive it for more than a few years.

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Panthro Community Regular

Panthro

Posted
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Also leases allow you to get more car for a lower monthly payment as you are financing what the car is worth between now and 3 years. So you have a $50k car and it is worth 30k after 3 years. You finance the 20k/36 `plus a higher interest rate and the monthly rate is around $600. Purchase over 5 years is close to $800.

 

Often times people feel the need to compensate by having a slightly better car than they would normally afford through a purchase.

 

 

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h0llywood Newbie

h0llywood

Posted
Posted

Wait for year end deals.Volkswagen, Honda and others will have zero down deposit deals. You pretty much drive off with the previous years vehicles that they cannot sell. As to the mileage, you can negotiate having a total allotted 12k-15k miles/year by paying an extra $40/month. 

 

http://web.vw.com/templates/Service?serviceName=vwoffers_tiguan&zipcode=28203

Here's a lease deal for a Tiguan for $219 a month. Granted you can lower the deposit by having a larger payment.

 

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