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Automotive News & Views The End of Leasing? And do you care?
95 messages, Last post on Sep 03, 2008 at 4:58 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Chrysler's announcement about the cessation of leasing might prompt other automakers to do the same. Does this affect you adversely or is it maybe a good thing long overdue? Read more here: http://news.yahoo.com/s/ap/20080725/ap_on_bi_ge/chrysler_leasing |
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Replying to: Mr_Shiftright (Jul 25, 2008 4:49 pm) Did that sound bitter?  I know but that is my two cents.  Leasing just don't do anything for me.
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Replying to: Mr_Shiftright (Jul 25, 2008 4:49 pm)
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Replying to: 1stpik (Jul 25, 2008 6:02 pm) My dad leased for probably the last 15 years he was driving. I don't think he ever had a lease that made sense to me. It always seemed he had to have an extra car to dump miles on and the one time he didn't he got hosed at the end. He complained but then went right out and leased again. I suppose there are a few incentive laden leases that might make sense but doing that much math hurts my head.
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Replying to: Mr_Shiftright (Jul 25, 2008 4:49 pm) No. I've never leased a vehicle, so this will not bother me at all. I've always viewed leasing like paying rent on an apartment that will never be paid off and I will never own. After 48 months of payments on a new car it's all mine and no more payments. I usually keep my vehicles 9-10 years. |
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Replying to: fezo (Jul 25, 2008 6:23 pm) He had to. He had no car, and no equity in the leased car to offset the price of a new car. He was starting all over from scratch. This is why dealers always push leases. Like heroin and crack, once you get hooked, you can never stop using them. |
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It will be interesting to see if it has an effect on the used car market down the road and car sales in general. I suspect that more people will choose to keep their cars longer when they're no longer forced by the lease to turn them back in every 3-4 years. Everytime I've looked into leasing, it's never come close to making sense. Especially here in Texas where I've learned you still pay sales tax on the full price of the car, not just for the value that you're leasing.
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Replying to: edklein (Jul 26, 2008 5:07 am) Given that many leases were "sub-vented", that is, supported by the manufacturer, by boosting residual values well beyond their actual market prices 2-3 years down the road---that's about as reckless as those sub-prime loans. But it sure makes those monthlies look attractive. Effects of the disappearance of leasing? How might that effect new and used car sales?
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Replying to: Mr_Shiftright (Jul 26, 2008 7:05 am) |
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Leasing is great for the value consumer, because we can pick up a two- or three-year-old car in great condition with low mileage for cheap and put another 100K on it easily. Why more folks don't figure this out is beyond me. Chrysler can end leasing, but I'm not so sure about manufacturers of $50K+ vehicles. Some people can buy 'em, but my impression is that leasing is the only way much of the market can put one in their garage. I agree that the leasing arithmetic never made sense. Let's see, first you pay $3,000 just to get in the game, them you pay X every month while honoring driving restrictions, and at the end of the lease you give back the car and they keep the cash. And this is legal, you say?
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