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SVTPerformance's Chain of Restaurants
Road Side Pub
leasing a car
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<blockquote data-quote="08mojo" data-source="post: 16374588" data-attributes="member: 132915"><p>As others have said: avoid putting money down. It does not change the total price of the lease --it just puts your cash at risk. Sure, the monthly payment looks better, but the total cost of the lease should be the same. </p><p></p><p>I'm currently leasing my car. I do not believe I will lease again. While I do like to swap cars every 2-4 years, I find I'm better off buying a 2-3 year old car and letting someone else take the initial depreciation hit. With a lease, you're stuck for the term (there are ways out of a lease, but they're not typically attractive). Then you also have to be cognisant that you are driving a car that will be inspected when it's time to turn it in--and you'll be on the hook for the damage. </p><p></p><p>With an owned car, none of these are an issue. If there's damage at trade-in: it's negotiable and up to you if it should be repaired. Car is a pile of crap: you can sell it immediately. Car is awesome: you can keep it as long as you'd like. Want to travel cross country 10x per year: who cares, the mileage has no limit/penalty. Want to keep it clean and low miles to increase resell: you can, it's your decision. </p><p></p><p>I suppose I just have commitment issues....</p><p></p><p></p><p></p><p>I don't know the details...but the cost of the car at the time of purchase (the lease in this case) and the residual value of the car are both negotiable. The dealer, likely, did not come out of pocket with any cash--they just negotiated the deal differently.</p></blockquote><p></p>
[QUOTE="08mojo, post: 16374588, member: 132915"] As others have said: avoid putting money down. It does not change the total price of the lease --it just puts your cash at risk. Sure, the monthly payment looks better, but the total cost of the lease should be the same. I'm currently leasing my car. I do not believe I will lease again. While I do like to swap cars every 2-4 years, I find I'm better off buying a 2-3 year old car and letting someone else take the initial depreciation hit. With a lease, you're stuck for the term (there are ways out of a lease, but they're not typically attractive). Then you also have to be cognisant that you are driving a car that will be inspected when it's time to turn it in--and you'll be on the hook for the damage. With an owned car, none of these are an issue. If there's damage at trade-in: it's negotiable and up to you if it should be repaired. Car is a pile of crap: you can sell it immediately. Car is awesome: you can keep it as long as you'd like. Want to travel cross country 10x per year: who cares, the mileage has no limit/penalty. Want to keep it clean and low miles to increase resell: you can, it's your decision. I suppose I just have commitment issues.... I don't know the details...but the cost of the car at the time of purchase (the lease in this case) and the residual value of the car are both negotiable. The dealer, likely, did not come out of pocket with any cash--they just negotiated the deal differently. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
leasing a car
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