To anyone who has leased a car - : The site for all your Ford Mazda and Volvo needs
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post #1 of 6 (permalink) Old 03-20-2006, 01:49 AM Thread Starter
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To anyone who has leased a car

IMO was it worth it? I love my fusion but it's starting to bore me. Was tossing around the idea of picking up a Leftover 05 Corvette. Lease would be 561/mo for 36 months.

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post #2 of 6 (permalink) Old 03-20-2006, 06:55 AM
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Re: To anyone who has leased a car

For $561 a month, I'd be driving something better than a Vette!

My Fusion is only $285 a month, cheap for insurance, looks good, drives great and I like it. I get bored VERY easily with cars, but not with this one yet.

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post #3 of 6 (permalink) Old 03-20-2006, 07:41 AM
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Re: To anyone who has leased a car

You could buy a vet down here in Texas for that price. Don't lease one for that price. Go to google and type in crvette's for sale and try clicking on one of the many classified ads. TDepending on where you live you might be able to find a good deal there or close buy. To save money it might be worth the drive to get one.
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post #4 of 6 (permalink) Old 03-20-2006, 09:17 AM
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Re: To anyone who has leased a car

A lease being worth it depends on your situation. Do you trade often, or do you normally keep a car for a long time? Do you write vehicle expenses off on your taxes? Do you drive less than 15K miles per year? Leasing can be a good option for someone who trades cars regularly, but whether or not you buy or lease, you're paying the manufacturer for the first few years of depreciation on the vehicle (by making lease payments, or taking an equity hit when you drive the purchased car off the lot). During a lease, you're paying the the price for the car, minus what they have estimated as it's fair market value at the end of the lease. What a lot of folks never realize is that if they estimate it's residual value to be $10,000, they may actually find some fool to pay $13,000 for it after they've gotten it back from you.

This is why you are seeing more and more commercials that are pushing you to lease....the payments are lower for you, and they're making a killing by selling the car twice, making a profit off you and the car's second owner. Yes, the payments are lower, but after 3 years, you have NOTHING to show for your investment. On the other hand, if you trade your purchased car after 3 years, you likely have negative equity unless you made a sizeable down payment and you have to cough up a few thousand dollars just to get rid of it. I just prefer purchasing as I have a big problem with a manufacturer making a profit twice on the same vehicle.
post #5 of 6 (permalink) Old 03-20-2006, 01:45 PM
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Re: To anyone who has leased a car

I love leasing and smartbuy type options. I tend to take super care of my cars, I don't put lot's of miles on it and don't care to modify it (much). ANd I like to move on to something else at about 36 months, so these things are perfect for me. I don't care about the argument that you got nothing for your money for 36 months. I got to drive (perhaps) a nicer car than I could afford with traditional financing and at the end of it I just give it back. I don't have to worry about negative trade equity, selling it or any of that other BS. I can walk away from it free and clear. And that it is one of the best feelings in the world.

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post #6 of 6 (permalink) Old 03-21-2006, 03:43 AM
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Re: To anyone who has leased a car

Both are great for the right person, I think.

Yes you have something to show for it after a purchase, but how much is it worth then? I've always purchased, my brothers always leased. He figured hes paying 500/ Mo. to drive a car - might as well be something he likes. He changes cars every frew years. Never has to sell the car, mileage repairs (50K + time bomb parts) Opportunity cost of the downpayment is something to think about. The difference in the cost of having it for that duration either purchae or lease is not that big.

I am starting to feel the same way, why commit the car your going to sellanyways (that fits the profile above / changed often). Why not put 2500 down / pay 350 total a month to lease. Im going to sell it anyway after 3 years and get something new. Ofcourse if I really need / use the car, and seriously love it like my bmw wagon - I'll purchase it outright.

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