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Lease tips

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babbles
Established Contributor

Lease tips

So I was at a toyota dealership not too long ago.  He offered a lease on a RAV Limited Hybrid for $356@ 36mo. and a RAV XLE Hybrid for $223 @36 mo.  He quoted those figures but not in writing since I didn't have my wife's car and but she wants a BMW SUV.  I'm trying to stir her away from that actually.   She really dosen't want to lease but she actually trades every 3 years or so anyway.  What things she I be careful of in a lease?  The payments sound good. We are coming in with a 2014 Altima SV (technology and convenience package) with 13k miles and a pay off about $13,500.  Should have decent equity.  I am thinking about taking it to carmax to see what they will give.  What things should I be looking at:  how many miles allowance per year?  money down?  In this case the equity would be the down payment and they also have the 2 yr 24,000 free maintenance plan.  Thanks for any tips!  Auto scores are north of about 750.  

Message 1 of 15
14 REPLIES 14
Anonymous
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Re: Lease tips


@babbles wrote:

@Anonymous I was at a toyota dealership not too long ago.  He offered a lease on a RAV Limited Hybrid for $356@ 36mo. and a RAV XLE Hybrid for $223 @Anonymous mo.  He quoted those figures but not in writing since I didn't have my wife's car and but she wants a BMW SUV.  I'm trying to stir her away from that actually.   She really dosen't want to lease but she actually trades every 3 years or so anyway.  What things she I be careful of in a lease?  The payments sound good. We are coming in with a 2014 Altima SV (technology and convenience package) with 13k miles and a pay off about $13,500.  Should have decent equity.  I am thinking about taking it to carmax to see what they will give.  What things should I be looking at:  how many miles allowance per year?  money down?  In this case the equity would be the down payment and they also have the 2 yr 24,000 free maintenance plan.  Thanks for any tips!  Auto scores are north of about 750.  


Lease if your wife doesn't drive a lot. You can sign lease for 10-12-15k miles. Almost all lease will have tax lic and doc fee due at lease signing unless they have promo of 0 due and lease signing drive off which they might have for Toyota m. BMW you will be looking at twice the payment and twice the down payment. Your also taking a hit on your 2014 Altima if you trade it in. It's money u lose even if you have equity in car cause it's money you already paid out. I don't see a reason in changing cars every 3 years. Such a waste of money. Only time I see ppl doing it is ppl that want to drive expensive brand car yet can't really afford or more of you car like BMW M6 Porsche or Benz SL series

Message 2 of 15
Anonymous
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Re: Lease tips

There are great lease guides and other resources online.  One question to always ask for any lease is the money factor.  Take that number and multiply it by 2400 and that is the interest rate.  Leases get a little complicated because dealers will play with the money factor, also some will claim that they only lease from the MSRP and can't discount.  That is not factual.  I think the best way to lease (if you like the car) is factory sponsored leases Acura (Honda), Lexus and BMW frequently have specific model levels with terms well spelled out.  Those are pretty much always solid deals and simple to do if you have the scores.  If you don't have the required scores then they will want to mark up the money factor a bit for a different tier but all of those companies have pretty well spelled out and transparent leases.  

Message 3 of 15
Anonymous
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Re: Lease tips

I always recommend people read www.leaseguide.com when leasing.. It should help answer most of your questions..

Message 4 of 15
Anonymous
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Re: Lease tips


@Anonymous wrote:

 Only time I see ppl doing it is ppl that want to drive expensive brand car yet can't really afford or more of you car like BMW M6 Porsche or Benz SL series


 

Wow. Generalize much?

Message 5 of 15
sccredit
Valued Contributor

Re: Lease tips


@Anonymous wrote:

@Anonymous wrote:

 Only time I see ppl doing it is ppl that want to drive expensive brand car yet can't really afford or more of you car like BMW M6 Porsche or Benz SL series


 

Wow. Generalize much?


No kidding.  Doesnt take into account the business owner who can write the whole thing off.  Or the individual who likes to be in a new, warrantied car for piece of mind.  Or someone who sees a car as what it is - a depreciating asset.  Very small minded and judgmental.

Message 6 of 15
Anonymous
Not applicable

Re: Lease tips


@sccredit wrote:

@Anonymous wrote:

@Anonymous wrote:

 Only time I see ppl doing it is ppl that want to drive expensive brand car yet can't really afford or more of you car like BMW M6 Porsche or Benz SL series


 

Wow. Generalize much?


No kidding.  Doesnt take into account the business owner who can write the whole thing off.  Or the individual who likes to be in a new, warrantied car for piece of mind.  Or someone who sees a car as what it is - a depreciating asset.  Very small minded and judgmental.


@Agreed.  I only lease and what @Anonymous said is false.  As a business owner, I get a tax write off and also doesn't report to my personal credit reports plus much much more...

Message 7 of 15
babbles
Established Contributor

Re: Lease tips

Thank you much and great leasing guide!

Message 8 of 15
stellar
Established Contributor

Re: Lease tips


Yes-Its-Me wrote:

 

Agreed.  I only lease and what @Rott161982 said is false.  As a business owner, I get a tax write off and also doesn't report to my personal credit reports plus much much more...


 

 

Can you list the positives of leasing?  Very curious.  Never thought of leasing a car before.  Is that normal that it doesn't report?

Message 9 of 15
babbles
Established Contributor

Re: Lease tips

Thanks, that was kind of insulting.  Plenty of people lease for different reasons,

Message 10 of 15
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