Last post on Feb 03, 2012 at 1:40 PM
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Car Financing, Car Leasing
Sep 17, 2009 (1:12 pm)
well, given these facts, the purchase seems to be a better idea.
Usually a lease is going to be significantly cheaper monthly. $10 doesn't seem to qualify!
Look at it this way. For $480 total over 4 years, you can effectivley "buy" a 4 YO CTS for $550/mo for 2 years.
look at it the other way, if you keep it 4 years, you will owe. $13,200 o nit. Do you think it will be worth at least that much at that piont? Is that less than the lease buy out price (which is what the leasing company is "betting" it will be worth at that point).
Hard to tell with 0% financing when you will cease to be upside down in the loan, but as Kirstie noted, getting out of a lease is nasty. If you want to trade the Caddy in after say 3 years, piece of cake.
#517 of 545 Re: Lease or Purchase [ctsfan]
Sep 17, 2009 (1:47 pm)
Make sure you have gap insurance if you're putting 0 down and financing for 72 months.
#518 of 545 first time lease--what to negotiate?
Dec 31, 2009 (7:42 am)
After reading through lots of discussions, I've decided leasing would work well for my situation. What can I negotiate?
Obviously, I will be negotiating the purchase price of vehicle to calculate lease payments. Can I negotiate Money Factor and RV with the dealer? I'll also need 18,000mi/yr which should reduce the RV but by how much?
I actually don't mind a highly monthly payment if the RV is very low b/c then I'll just purchase it at the end of the lease. Can the dealer/financing company arrange that?
I'm looking only at Acura, BMW, Infiniti and Lexus. Will the dealer automatically use their companies' financing arms or do they sometimes use an independent one?
Sorry for all the questions but may try to get this done before the end of year incentives expire!
#520 of 545 Purchase a CRV used or lease?
Mar 30, 2010 (8:21 pm)
My husband and I have always been warned against the follies of leasing. We have to get out of my current car (2002 Civic) because the AC goes out on it unpredictably and we have two small children (in California). The wisdom given to me in the past is that the best value is to buy a car new and run it completely into the ground. True? Now we are looking to get into something with $300-$325 monthly payments, which we could do on a 36 mo. CRV lease through the Honda dealership. We could also do it by purchasing a 2006 or 2007 CRV with 45-60,000 miles on it for roughly $16-17,000. What is our best bet? We would purchase the lease at the end and keep the car for 8 years, if it held up. Does that make it as valuable as purchasing it from the get go? Thanks for your advice.
Mar 31, 2010 (5:36 am)
Well, how many miles on the civic? Do you like it other than the AC problem?
If the answer is not too many and yes I do, then your best bet is probably to just get the AC fixed. If it works intermittently, it may not be that big of a deal (not as bad as having a seixed compressor say).
17K for a 50+K used CRV? Yikes.
#522 of 545 Re: best bet? [stickguy]
Mar 31, 2010 (9:53 am)
Thanks for your message. My Civic has 160,000 miles on it. It does work well other than the AC, but we tried to get it fixed recently and it didn't take. We're concerned about putting money into a car that won't last us too much longer, and I'm concerned about taking it to the desert (my folks house) and having the AC go out on me, as my youngest is three weeks old. I think it's time for the Civic to go. Now thinking about purchasing a slightly used Kia Sportage or a Jeep Patriot for $13000. Any thoughts about those?
#523 of 545 Re: best bet? [kjwils5335]
Mar 31, 2010 (10:42 am)
I'll tell you my youngest brother has a Sportage that must be 10 years old and he loves it. Hasn't given him a speck of trouble.
Mar 31, 2010 (11:04 am)
Well, with those miles on a 2002, I can see your point! If it was fixable and only had 60K on it, differetn story.
Sportage and patriot are OK, cheap, basic transportation units with some utility value. A good value at least. Make sure to get it inspected thoroughly before you buy.
#525 of 545 Re: civic [stickguy]
Mar 31, 2010 (11:10 am)
I still keep thinking my brother must have the only Kia with zero problems but I don't know any actual people to compare his experience to.