@californiaboy935 Is there a reason why you want to Lease vs Finance?! Honestly to me Leasing has strict guidelines vs financing and it can be harder to deal with with a higher down and you don't even own the vehicle unless you buy it out at the end, but if so then you can end up paying higher to me leasing is more for someone that barely and I mean barely drives and flips out of their vehicle the same time every year (some even have penatlies for ending early) and of course if you go over mileage that is extra etc as well so unless you are very careful as a first time buyer Financing may work more in your favor and you would actually own at the end vs having the option to own. Are you worried you will not like it?! Because they do recommend at 1 to 2 years of having your Financed vehicle it being the best time to trade/upgrade to a new model vehicle of a different make/model without flipping yourself to bad with negative equity. Of course if they put you at a higher APR to start refinancing at the year point can help to put you a lot lower but there are so many factors as to what YOU are wanting/looking to do. What is your end goal and what are you trying to do now?!
@Girlzilla88 wrote:@californiaboy935 Is there a reason why you want to Lease vs Finance?! Honestly to me Leasing has strict guidelines vs financing and it can be harder to deal with with a higher down and you don't even own the vehicle unless you buy it out at the end, but if so then you can end up paying higher to me leasing is more for someone that barely and I mean barely drives and flips out of their vehicle the same time every year (some even have penatlies for ending early) and of course if you go over mileage that is extra etc as well so unless you are very careful as a first time buyer Financing may work more in your favor and you would actually own at the end vs having the option to own. Are you worried you will not like it?! Because they do recommend at 1 to 2 years of having your Financed vehicle it being the best time to trade/upgrade to a new model vehicle of a different make/model without flipping yourself to bad with negative equity. Of course if they put you at a higher APR to start refinancing at the year point can help to put you a lot lower but there are so many factors as to what YOU are wanting/looking to do. What is your end goal and what are you trying to do now?!
I guess I just wanted a nice car. And leasing seemed like the cheapest way to do that without having to buy something that depreciates so immediately. Seems like either way you through out that initial money. so why not do it and pay less down the line.
Just mentioning that you may want to keep in mind that leasing may have certain advantages if you run it for your business.
as of 1/1/23
You can usually finance with lower down and if you get the same APR or lower (depending on deals) you can actually save a ton more and end up owning the vehicle at the end. Me as you can clearly tell I'm pro Finance the only time I think Lease would be good is if you keep it 10/10, barely drive it and change out every year the same month or close (if they don't have an early ending fee then that part won't matter) but why not do some digging into what type of Financing offers you can get you may even be able to find some 0% offers or some places are offering 0% PLUS at this time to help you keep a lower payment and you won't be as upside down since you would be paying towards principal rather than interest first (that is why some people get so upside down is they end up with 10% plus and middle to higher payment because they Don't want to put money down and the whole time the car's value is going down while their miles go up, but they haven't even touched the car's payment itself it's all going to interest first.....Just another food for thought XD There is so much to explain/say but I would definitely do digging into financing deals right now ^^
This is what my business bank gave me for financing. LOL Maybe I better go with NFCU...
@Girlzilla88 wrote:You can usually finance with lower down and if you get the same APR or lower (depending on deals) you can actually save a ton more and end up owning the vehicle at the end. Me as you can clearly tell I'm pro Finance the only time I think Lease would be good is if you keep it 10/10, barely drive it and change out every year the same month or close (if they don't have an early ending fee then that part won't matter) but why not do some digging into what type of Financing offers you can get you may even be able to find some 0% offers or some places are offering 0% PLUS at this time to help you keep a lower payment and you won't be as upside down since you would be paying towards principal rather than interest first (that is why some people get so upside down is they end up with 10% plus and middle to higher payment because they Don't want to put money down and the whole time the car's value is going down while their miles go up, but they haven't even touched the car's payment itself it's all going to interest first.....Just another food for thought XD There is so much to explain/say but I would definitely do digging into financing deals right now ^^
Not having any installment loan experience has made me inelligeble for most of those 0% down offers. As well as tesla not financing that way. Suggestions for other cars comparable?
@californiaboy935 To a Tesla what?! (Sorry if you mentioned Model earlier) And what would you be using it for so I can think of something sort of comparable
@californiaboy935 Although 5% isn't Horrid, you may be able to hit better with a CU or with the Financing Specials.