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post #1 of 54 Old 02-02-2005, 7:25 PM Thread Starter
 
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Auto Lease

Anyone ever lease a used car? I am talking like a car with 20K on it.

Team Honda - well sorta...
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post #2 of 54 Old 02-02-2005, 7:27 PM
 
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Re: Auto Lease

Leasing a used car is not a good idea.
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post #3 of 54 Old 02-02-2005, 7:29 PM
 
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Re: Auto Lease

Very true.

If it's short term or something, like you need to lease a car for 1 year as a work vehicle (IE write off on your taxes) then it can be a good idea.
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post #4 of 54 Old 02-02-2005, 8:12 PM
 
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Re: Auto Lease

Leasing any car is a bad idea.

Must obey the sheep dog
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post #5 of 54 Old 02-02-2005, 8:29 PM
 
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Re: Auto Lease

No go on the lease..... been there and wish I hadn't.
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post #6 of 54 Old 02-02-2005, 8:46 PM Thread Starter
 
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Re: Auto Lease

Thanks gang!

Team Honda - well sorta...
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post #7 of 54 Old 02-02-2005, 9:00 PM
 
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Re: Auto Lease

Interesting factiod for y'all a shearing for me:
I just received my notice for all of my license plates. My CBR is $4 less than my 2000 GMC P/U. So I gear up for battle but on investigation it seems the #$%% in Mobile tax cars at 15% and bikes at 20% Of course if it was a leased motor vehicle it would be 15%, yes I feel a project coming on

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post #8 of 54 Old 02-02-2005, 9:05 PM
 
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Re: Auto Lease

lease it down to a dollar buyout and don't pay more than 6% interest. I'm a manager at a car dealership. There is nothing wrong with leasing if the price is right.

Also keep in mind that there is a markup on used vehicles at a dealership of 3-5 grand. Don't EVER pay more than 3 grand under their list price on a used vehicle.

Best of luck

And then there's this asshole...

Last edited by phobiaphobe; 02-02-2005 at 9:09 PM. Reason: typo
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post #9 of 54 Old 02-02-2005, 9:20 PM
 
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Re: Auto Lease

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post #10 of 54 Old 02-02-2005, 9:21 PM
 
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Re: Auto Lease

Lease............................................. .........= . That is like leasing your wife. You'' like her for 3 years then, dang you have to take her back
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post #11 of 54 Old 02-02-2005, 10:46 PM
 
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Re: Auto Lease

Quote:
Originally Posted by alexandra
No go on the lease..... been there and wish I hadn't.
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post #12 of 54 Old 02-02-2005, 10:48 PM
 
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Re: Auto Lease

Quote:
Originally Posted by sheepofblue
Leasing any car is a bad idea.
I tend to agree.

In general, I believe leasing is for rich folks. As reality would have it though, the people who aren't always in a position to lease wind up doing so.

I've leased one car in my life, a then new '96 Toyota Camry. Never again.
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post #13 of 54 Old 02-02-2005, 11:21 PM
 
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Re: Auto Lease

Quote:
Originally Posted by JamesEarl15
Lease............................................. .........= . That is like leasing your wife. You'' like her for 3 years then, dang you have to take her back
Leasing can actually be the better option in certain situations. Not always, but there are leasing opportunities that save a bunch over a "traditional buy" where you're actually (in simplified terms) doing nothing more than leasing it for a longer period from a bank.
As for giving it back, you never have to do that. In fact, it is the stupid thing to do. If you like it, just buy it. If you don't, sell it and pay it off like you would any other car.

Last edited by BDA116; 02-02-2005 at 11:21 PM.
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post #14 of 54 Old 02-03-2005, 10:26 AM
 
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Re: Auto Lease

I'm gonna go against the grain and say that leasing is a good idea and go a step further and say that financing a car is a bigger waste of time.

When people dislike leases is when they try to get out of them early. A lease is an agreement to use a product for a given length of time and in return, you only have to pay for it during the duration that you have it. Where it gets tricky is residual values, money factors and cap costs and thats where many people get screwed over on leases. If you keep it to term, AS YOU AGREED TO DO, everything is peachy...

Never finance a depreciating asset. Finance a house or property, sure (not to mention the tax advantages). Finance your education, sure. Finance a car, bike, stereo, computer, don't do it... I'm not saying it's a bad thing, its just not the preferred way from a finance/economist point of view.

Leasing and financing are both losing propositions. Best policy is to pay cash for everything, but that's not always feasible... Damn sure can't seem to work it that way for myself...
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post #15 of 54 Old 02-03-2005, 10:38 AM
 
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Re: Auto Lease

What wrong with leasing? I'm leasing my H2, and only paying $450 a month for 12 years with a $52,000 balloon at turn-in. I got a SMOKIN' deal, eh?
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