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Smart Shopper General Questions about Leasing Vehicles
284 messages, Last post on Aug 01, 2009 at 9:50 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: allisonh (Nov 06, 2007 12:22 pm) Lincoln dealer prob isn't making squat on the MKX and doesn't want to risk getting buried in the trade.
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Replying to: volvomax (Nov 06, 2007 8:52 am) |
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Replying to: volvomax (Nov 06, 2007 2:22 pm) MSRP $35,285 agreed upon value $32,707 (dealer said this is under invoice) for $403.07 month includes tax for 39 months. Here is where i get confused. I gave $1000 cash down, but the lease says $3693 was due at delivery. Dealer said this figure includes the $2750 rebates and that my tax, lic, etc and 1st month payment came out of that? sound right? |
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| Most advertised lease specials seem to be 36-39 months. Do any car manufacturers have particularly attractive lease deals with 24 month terms right now? | |
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Any help or opinions would be much appreciated. I leased a 2006 X5 in June of 2006. It is a three year lease. I am thinking about getting a newer X5 (2007 or 2008) before my lease is up. The reason for this is to get more options such as a trailor hitch and naviagtion without having to spend $2000 or so to pay for these options now, only to lose this money when I turn the vehicle in. My questions are: What should I be concerned with (and know about) canceling a lease early even though I want to re-lease from the same dealer? Do they give you a break on any early termination fees? Does it affect my credit rating? If I were to go ahead and pay to have these options installed and thereby raise the value of the car, how can this benefit me. Would it only benefit me if I were to buy the car at the lease's end or are there other benefits or even potential drawbacks? |
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Replying to: milti (Nov 15, 2007 7:58 pm)
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Replying to: bodble2 (Nov 16, 2007 12:33 am) You can't just give the car back and terminate the lease. The costs of doing that can be very, very substantial, and can negatively affect your credit rating. I think you'll find that when/if you try to trade the car into the dealer, the loss you'll take will be substantial, as well. Leases are designed to be taken to end of term. When you don't or won't live up to the lease terms, it can be very expensive. Regards, kyfdx visiting host |
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Replying to: milti (Nov 15, 2007 7:58 pm) you cannot simply return the car and walk away. ALL the payments must be in to the lease co before the vehicle is returned. doesn't matter if there are 2 yrs or 2 months left on the lease. As for a trade in, chances are you will be quite upside down. I'd go put a hitch on and buy a Garmin.
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Replying to: volvomax (Nov 16, 2007 12:43 pm) One last question. If I installed these items, would their be ANY benefit at lease closure, in terms of buying the vehicle or if I re-leased another vehicle immediately after? thanks again
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Replying to: milti (Nov 17, 2007 7:55 am) If you turn the car in, you won't get anything for the trailer hitch. How bad do you need a hitch? |
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