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re: Advice about leasing a car?
Posted on 4/14/14 at 9:11 pm to YStar
Posted on 4/14/14 at 9:11 pm to YStar
quote:
I could buy/finance, I just know that isn't intelligent. After two years, I would want something newer and I don't want to deal with selling at a loss because with these types of vehicles you rarely get the value you should.
You would def be upside down in 2 which is another plus for you to lease but you will be shafted In 4 also.
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Posted on 4/14/14 at 9:13 pm to bbvdd
quote:
The only cars that should be leased IMO are cars like 6,7 series BMWs and S,SL class Benz. Why? Because resale on them is shite.
I'm actually leaning toward getting the 750li.
I've been doing my research and some other vehicles in it's class beat it out. I just love the design and there is a little history there so that too.
Posted on 4/14/14 at 9:16 pm to coonass27
quote:
You would def be upside down in 2 which is another plus for you to lease but you will be shafted In 4 also.
Is there anything special you or your wife request or try to get handle in detail?
Anything I should look out for? I already know I need to negotiate the total price well enough because that will affect my total term cost because depreciation is factored off of that.
Posted on 4/14/14 at 9:28 pm to YStar
quote:
Is there anything special you or your wife request or try to get handle in detail?
Well I have a hand up lol. I use to work for GM and get GMS pricing still so I get vehicles at 3% over cost and know the price before I even walk in. There are many of free sites out there that will tell you a fair price to pay for any vehicle. I would research that and go from there. What ever price you get them down to, you can subtract any rebates offered from that. Depreciation is always factored In but it's a crap shoot. They are guessing what the car will be worth in 3 years with x Miles. In my experience, it was always worth more than what the residual is. That's all your paying really. The difference between the selling price and the residual. My only advise would be to look at the fine print on lease and lease rates through the mfg. make sure they don't discount the vehicle and make it up by charging you 10% interest. You won't get 0% on a lease but 13 would be high.
Posted on 4/14/14 at 9:31 pm to YStar
quote:
quote: You would def be upside down in 2 which is another plus for you to lease but you will be shafted In 4 also.
I was referring to to trying to trade a bought vehicle in 2 or 4 years. You will be hard pressed to get a dealer to your pay off your loan In 2 or 4 years.
Posted on 4/14/14 at 10:29 pm to YStar
All i can say is be very wary of the mileage limits per year. Some of the higher end lease vehicles like BMW etc, limit you to 10K miles a year. Dont know where you live, but in Atlanta you cant go to the grocery store without racking up 10K a year. Its an unworkable limit. Penalty is something like 20 cents a mile after. Which can get stupefying.
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