Quote:
Originally Posted by G G
Need some help again friends.
I am trying to find someone that sells cars for a living to get some advice but I don't know anyone who does.
I am currently in a situation with a car dealership and am trying to come out of it alive. LOL
They are now trying to talk me into leasing a car instead of buying. Since I do tend to put a lot of miles on a car I was worried about the overage charges.
The guy tells me that the only way a lease comes out good is if you purchase the car after the initial lease period. He is saying it will be a 39 month lease, which gives you payments that are a little less than if you were buying it. Then at the end of the lease you will pay market value (I think) for the car and finance it for 36 months and the payment will be "about" the same. My "about" and their "about" is that part that worries me.
Anyone have any experience or advice? I have never been too keen on the idea of leasing. Is that good or bad?
Thanks
|
My buddy owns a car dealership and I know the business pretty well. Don't do it. You only lease a car to walk away from it at the end. He's selling you a load of crap. Don't lease over 36 months as well. Put as little money down as possible if you lease. They got you by the balls while you are leasing, so think about what those next 3 years have in store for you. On top of that, you are paying the 3 biggest years of excise tax which may be a big deal.
As far as overage charge, you'll have to do the math. Whole point of the lease is you get walk away at the end and not have a car over your shoulders. Just move into the next one. If you get into a good program, some manufacturers will let you end the lease early and move into another new car with less fees than the first car.
What car are you looking to lease? With interest rates so low; a used 2015-2016 may be a better option if you drive a lot.