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Have you noticed that auto lease is becoming popular again?

Posted by on Mar. 19, 2013 at 12:29 AM
  • 14 Replies
I have seen several tv ads for cars that the payments are quite low, but they are for leased cars, not a car that once you made all those payments you will own. What is the idea here in this group, buy a car and when they payments stop you still own the car, or just lease (rent) it until the agreement ends then turn it in and start all over again?
by on Mar. 19, 2013 at 12:29 AM
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Replies (1-10):
victoriaherring
by Bronze Member on Mar. 19, 2013 at 12:36 AM

We actually considered doing a lease a while back and after looking into it we found it just wasnt' right for us.. There are restrictions on things such as milage and stuff that can add on a ton of money. I would also feel weird driving a car that wasn't actually mine.. The only time I think I would lease a car is if I were to move somewhere temporarily and couldn't bring my own car with me. 

a_and_j_momma
by on Mar. 19, 2013 at 2:09 AM
I don't think they have ever not been popular. It is a good option for some and cheaper payments
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MsBlueBelle
by Bronze Member on Mar. 19, 2013 at 2:41 AM

 I dislike my car so much that it is difficult to put it into words.  It is a 2009 Impala with only 15,500 miles on it, and the extended warranty does not expire unil 2017.  So, I am at the point, do I hate it enough to trade it for a low lease but get a car/truck that will free me using my wheelchair, or stick it out and keep it for 10 years or 100,000 miles. The 10 years will come quicker and I will probably be under 30,000 miles on it.  What would you do?

chrissysnow22
by on Mar. 19, 2013 at 4:18 AM
I never understood leasing....
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chicken13
by Silver Member on Mar. 19, 2013 at 7:17 AM
1 mom liked this

If you aren't going to put a lot of miles on your car, then leasing CAN be a smart option.  Especially if you are the type to trade a car in quite frequently.

if you like to keep your car forever, or drive a lot of miles...then it's not a good option.  Extra miles can be ridiculous.

currently, we have one lease and one car payment to own.  We leased because dh needed a smaller car to take and leave at airports (he travels a lot), we were tight on money and we were unsure we were going to keep it past 2 years.  The family car...a SUV that I've lready put 5000 miles on in less than 3 months...we knew we'd have to buy. And plan to keep unil it dies....like he car it replaced.

matreshka
by Platinum Member on Mar. 19, 2013 at 9:42 AM

I think they are just trying to push leasing. Its a bad idea all the way around and the driver gets screwed for one thing or another.  Returning a leased car at the end of the term has been a nightmare for some of my family and a couple of my friends

matreshka
by Platinum Member on Mar. 19, 2013 at 9:43 AM

If it is impeding your ease of access, or your health, I think its important to trade it in for something you like and doesn't cause you problems.

I would take your car in a heartbeat, but my 2009 Hyundai accent would be even worse for you.

Quoting MsBlueBelle:

 I dislike my car so much that it is difficult to put it into words.  It is a 2009 Impala with only 15,500 miles on it, and the extended warranty does not expire unil 2017.  So, I am at the point, do I hate it enough to trade it for a low lease but get a car/truck that will free me using my wheelchair, or stick it out and keep it for 10 years or 100,000 miles. The 10 years will come quicker and I will probably be under 30,000 miles on it.  What would you do?


JakeandEmmasMom
by Silver Member on Mar. 19, 2013 at 9:47 AM

 I would never enter a lease.  They find all kinds of ways to get more money out of you.

A car is not an asset anyway.  My theory on cars is: Pay cash; get the best deal you can; keep up the maintenence on it; drive it until it can't be fixed anymore.  I just can't see spending that much money on a tool to get you from point A to point B.

chicken13
by Silver Member on Mar. 19, 2013 at 9:47 AM

It CAN be a total nightmare. You've really got to read and understand the contract.  There are fees for all sorts of stuff...extra miles, skipped maintenance, dings, dents, stains. 

Quoting matreshka:

I think they are just trying to push leasing. Its a bad idea all the way around and the driver gets screwed for one thing or another.  Returning a leased car at the end of the term has been a nightmare for some of my family and a couple of my friends



Idntreallycare
by Bronze Member on Mar. 19, 2013 at 9:55 AM

With a lease, you get the car during the "good" years, and most maintenance is minimal (oil changes, maybe tires, easy stuff) and then you can turn it back in and get a new car again in 2-4 years. 

A lot of people figure you'll either have a car payment each month or you'll have repair costs, so either way you're paying oon a regular basis.

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