@Anonymous wrote:
Can someone give me advice about leasing a car?
Leasing can be very effective if you have great credit. (i.e. mid to high 7's credit scores)
The payments on lease offers are oftentimes much more affordable than purchasing the same car.
The downside is that you have to eventually return or buy the car. So, leasing only works if you always need to drive a newer model car, for whatever reason. Or, for obtaining a car that you couldn't otherwise afford to drive.
But, the upside is that you perpetually drive new model cars, always under warranty. You also get to test drive the car for a few years, before determining if the negotiated price to payoff the car is actually worth the purchase, or not.
Think of how Apple is now openly leasing their Iphones. That low monthly payment works a lot better for some, than just springing for such a large purchase. Also, the ability to constantly upgrade to a brand new phone (or in this case, a brand new car) works for those that are able to manage such obligations with aplomb. Never having to deal with repair costs is also a huge relief.
Nevertheless, the keys points to negotiate in any leasing deal; are the price of the car, and the mile allotment. Negotiate the price just like any other car deal, to the point of walking out the door; as well as, endeavor to get as many miles per year as possible. - This is oftentimes where many find out that leasing is not for everyone. Paying per mile overages is probably not fun.
This is a case where having great credit can benefit one, greatly. Conversely, trying to negotiate a lease outside of a lease offer promotion, or leasing a used car... could very well be a bad deal.
There are lease calculators all over the web. The main thing to figure out firstly though, would be to determine if the idea of leasing fits your needs.
