Last post on Nov 11, 2013 at 11:47 AM
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Car Leasing, Car Buying
#397 of 499 Risk of Single Pay Lease?
Dec 03, 2012 (1:30 am)
I know everyone says not to do cap cost reduction on a lease if you can help it due to the risk of losing your down payment if you total the car. But what about a single payment lease? Is there any risk associated with that for the same reasons?
#398 of 499 Re: Risk of Single Pay Lease? [romil01]
by kyfdx@Edmunds HOST
Dec 03, 2012 (4:33 am)
Single-payment leases work differently..
For purposes of calculating the lease balance, a single-payment lease is considered to be a payment in escrow, from which the monthly payments are then taken, each month..
In event of an involuntary termination, then you'd receive the balance of the payments in return.
#399 of 499 Re: Risk of Single Pay Lease? [kyfdx]
Dec 03, 2012 (12:11 pm)
Thanks for the answer.
#400 of 499 Trade-in without reducing cap costs
Dec 05, 2012 (8:26 am)
I am looking at leasing my first car & want to make as little a down payment as I am allowed. I have a car to trade in that I will probably get around $9,000 for, but I'd like to pocket the cash instead of putting it toward the lease. Having never leased before I do not know if this is common, rare, or unheard of. My best guess is that it is rare but that it depends on the dealer, but I'm hoping that those of you with more experience will tell me that it happens all the time & I should go for it. Thanks for any advice.
#401 of 499 Re: Trade-in without reducing cap costs [hamm3r]
Dec 05, 2012 (9:16 am)
perfectly normal. they will just cut you a check.
Jan 22, 2013 (8:10 pm)
A reporter would like to speak to someone who is going to be in the market for a new car in the next few months because their lease is expiring. If you fit this description, please email your daytime contact info to predmunds.com by Friday, January 25, 2013 at noon PT/3 p.m. ET.
Jul 25, 2013 (10:52 am)
A reporter is looking for new car lessees. If you leased a new car in the past few months, and would like to share your story, please email your daytime contact information to predmunds.com.
#405 of 499 Should we lease again??
Aug 14, 2013 (11:47 am)
My husband and I are senior's (72/66). We leased our (2) Chevy Equinox's in 2011 through Ally and they will be turned in in May/June (respectively) 2014. We have very low mileage on them (14000 and 10000) and they are in perfect condition so extra fees are not a concern.
We have been looking at other vehicles that we think we might be interested in when we surrender our current vehicles. We are going to have just (1) vehicle next time as we don't drive them enough to justify the cost of insurance, gas, and lease payment.
Since we are retired, would it be cost effective for us to lease another vehicle since we put on so few miles or should we buy a vehicle? We do not want a payment (leased or bought) over $550/mo. How can we get the most bang for our buck? Thanks
#406 of 499 Re: Should we lease again?? [retired2pa1]
by Kirstie@Edmunds HOST
Aug 14, 2013 (12:14 pm)
What other vehicles are you interested in?
You sound like perfect candidates for leasing again, since you drive so few miles, and your driving circumstances aren't likely to change (e.g., you aren't going to get transferred to a new job). That's the downside for some younger lessees - they lease a vehicle, and then they move house or job, or have a baby, and the vehicle or the lease mileage limit is a problem.
If by "get the most bang for our buck" you mean you want the nicest vehicle you can get that fits in your budget, then again, my opinion is that you're a great candidate for leasing. Leasing generally allows you to have a lower payment on a nicer vehicle, since you are only paying for part of the vehicle's depreciation.
Let us know what vehicles interest you, and members can offer more advice.