I got a check for ~$3k from the equity in the lease i just returned.

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Jul 19, 2019
8:43:45am

TheLost Starter

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TheLost

Bio page: TheLost
Joined: Jun 30, 2017
Last login: May 2, 2024
Total posts: 19,093 (281 FO)

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Messages

Author

Time

If you’re going to lease a vehicle, is the lease price based off the MSRP?

Coug All-American

7/19/19 7:30am

#1 rule... Always negotiate..

TheLost

7/19/19 7:42am

Here is a good guide on how to calculate a lease payment..

TheLost

7/19/19 7:45am

Why does anybody lease? I've never seen any sense in leasing.

HighHorse

7/19/19 7:51am

Low payment, new car every 3 years. To some that's worth shelling out a ton of cash for the lack of headache.

Bert609

7/19/19 7:54am

Shelling out a ton of cash?

TheLost

7/19/19 8:00am

It's all perspective. I'm paying $280/month for 60 months for a Lexus GX470 with 0-down and at the end of

Bert609

7/19/19 8:10am

So you bought a used car (~$18k and put ~$5k down) and got a $280 payment...

TheLost

7/19/19 8:24am

He put 0 down.

Baron

7/19/19 8:34am

So he bought a 2005 GX470 w/100k miles for $13k.

TheLost

7/19/19 8:40am

Close, I bought a 2008 GX470 with 99k for $14k with 0-down.

Bert609

7/19/19 8:44am

Awesome car, will run forever. But that's apples to oranges

TheLost

7/19/19 8:48am

My original post was "why do people lease". Because some people prefer "shelling out a ton of money" to have

Bert609

7/19/19 8:55am

You can lease a Lexus for that little?

TNT

7/19/19 8:28am

You can buy a Lexus with 100k miles for that little.

TheLost

7/19/19 8:40am

Leasing costs a lot more overtime in almost all cases.

Baron

7/19/19 8:11am

So is it an image based decision? Or good for small business and tax deductions?

Q-grr

7/19/19 8:21am

From a financial standpoint, certain cars have a buy back point

Baron

7/19/19 8:25am

I lease for 2 reasons.

Lance71

7/19/19 9:37am

Leasing for me is about 2 to 5 times more expensive than buying, depending on

Baron

7/19/19 9:46am

I've leased several cars and always left without paying a dime.

Lance71

7/19/19 8:08am

You have returned your leases with enough equity to cover the entire lease amount over 60 months? That's incredibly

Bert609

7/19/19 8:11am

It’s not too hard to do. I’ve done it with several leases. I actually made some

Soy Celeste

7/19/19 8:26am

I got a check for ~$3k from the equity in the lease i just returned.

TheLost

7/19/19 8:43am

Subtract that from your monthly payment, how much do you pay in total? And did

Baron

7/19/19 9:00am

Over 36 months.. i paid less on my lease payment than a loan payment.

TheLost

7/19/19 9:13am

Yea but then you have to add the next lease amount to that for the total out lay

Baron

7/19/19 9:22am

Newer car.. roughly the same payment (same milage allowance).. i put less down.

TheLost

7/19/19 9:26am

Yea and I never have a car payment unless they offer 0%. So you pay a ton more

Baron

7/19/19 9:43am

I also must drive a much nicer car... so there is no point in your argument.

TheLost

7/19/19 10:12am

Exactly you are shelling out a ton of money still but it is worht it to you.

Baron

7/19/19 10:19am

I meant not paying a dime as a down payment. Not the entire lease.

Lance71

7/19/19 9:32am

Shelling out a ton of cash is having a car old enough to need

Lip Gallagher

7/19/19 8:19am

It's all opportunity cost. I'm not knocking on leases, but I'm not in denial that they are "cheap" either. And in

Bert609

7/19/19 8:47am

Eh. I've never leased, but a car is always an expense. Some people like driving latest model cars

mik3

7/19/19 7:55am

No. Look up the username Negativeequity. He did a huge thing on leases a while

PessimisticCB

7/19/19 9:02am

I have leased three vehicles. The lease is based off the price

PessimisticCB

7/19/19 9:03am

Check your BM - Both the MSRP and Negotiated price

Negative Equity

7/19/19 11:01am

Yeah, this guy, this guy knows everything about leasing/buying vehicles

PessimisticCB

7/19/19 11:10am

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