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Have you ever leased a car?

Posted by on Mar. 2, 2011 at 7:34 AM
  • 8 Replies
How does that work?
by on Mar. 2, 2011 at 7:34 AM
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Replies (1-8):
Klynn-whitlow
by on Mar. 2, 2011 at 8:37 AM

Nope. I have bought like 3 cars now, but no leases.

yasbobari
by on Mar. 2, 2011 at 8:37 AM
Us too
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1busymomma03
by Member on Mar. 2, 2011 at 9:37 AM

I have no idea. I have never leased a car.

goorob
by on Mar. 2, 2011 at 9:56 AM

Yes, it's been a while, you put down a 'down payment' or trade in like I did (on commercials they'll say "X amount due at signing").  You agree to not go over so many miles in a year average (usually 12,000), if you go over it's kind of like going over your minutes on your cell phone, you pay per mile penalty charge when you turn in the car at the end of the lease in 3 or 4 years, what ever your term is.  You pay per month, usually less then what the car payment would be if you were to buy the car (it's basically you can't afford to buy the car so you lease it insead).  At the end on the lease you have the option to buy the vehicle, if you go over the miles you better buy because you'll probably owe a crap load of money, if you damage the car in any way you'll owe a lot also.  The car we leased, we would have had to continue paying our same car payment of $350 for an additional 4 or 5 years to own it after we paid the lease for 4 years....  We were over our miles in 2 1/2 years of a 4 year lease.  We parked the car for a year then traded it in early and bought something else to stay within our miles (barely) and not get penelized.  I loved the car but the lease was a huge mistake.  At the end of the lease you have nothing to show for the 4 years you were paying on the car.  At the end of a 4 year loan on a car you have the car you  were paying on and what ever it may be worth.

If you don't have kids and don't drive a lot (like just around town) and lease might be an ok idea but you'd be better off just buying a less expensive car.

AllThatBabyJazz
by on Mar. 2, 2011 at 10:59 AM

I have not so I am no help, sorry.

bramamber
by Member on Mar. 2, 2011 at 3:28 PM
Never
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Peajewel
by Bronze Member on Mar. 2, 2011 at 10:14 PM

 No I can't lease because I put too many miles on my cars.  I know that if you lease for say three years.  At the end of the three years, you owe for anything that might be wrong with the car the decreases the value.  They also give you a certain amount of miles you can have on the car and for every mile you go over, you have to pay extra.

usmclife58
by on Mar. 2, 2011 at 11:03 PM

We never have. We have considered doing it for DH when he gets a new truck (he only drives it to work and back anyway), but we decided to stick with buying.

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