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MotorGround >> Car Leasing secrets?


4/24/07 2:56 AM
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zawi
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Edited: 24-Apr-07
Member Since: 03/13/2002
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Im going to lease a new car , any dealers or people in the car business have any secret tips on getting a sweet lease deal??? zawi
4/24/07 4:36 AM
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cuzz63
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Edited: 24-Apr-07
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There is a reason people call it a "flease"..
4/24/07 12:29 PM
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zawi
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Edited: 24-Apr-07
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I want a new car ... Who the fuck wants to own an old car ? I get a brand new car every 3 years . zawi
4/24/07 12:48 PM
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fanat
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Edited: 24-Apr-07
Member Since: 06/06/2002
Posts: 1757
Check out the official car website and see what kind of leases they are offering. The dealership will try to screw us on downpayment and all the fees: paperwork fee, and tons of other fees.
4/24/07 5:00 PM
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cuzz63
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Edited: 24-Apr-07
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"if you want to have a new car every 3-4 years, leasing generally makes OK sense." Makes better sense to buy the new car then sell it outright after 4 years then buy another one. You could make an argument for leasing if the car is used for business and you can claim a tax deduction on the lease.
4/24/07 6:23 PM
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guy1
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Edited: 24-Apr-07
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Buying only makes sense if you drive more than 15k miles a year, why would you invest in a depreciating asset.  A good friend of mine has been selling cars for the last five years and he said he will never buy another car as long as he lives.
4/24/07 6:29 PM
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zawi
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Edited: 24-Apr-07
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Every person i know that makes decent money or owns a business always lease their cars... zawi
4/24/07 6:32 PM
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Fake Pie
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Edited: 24-Apr-07 06:48 PM
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"Makes better sense to buy the new car then sell it outright after 4 years then buy another one. " No it really doesn't. Technically it should net out but why have to deal with trading/selling BS if you don't have to and why pay more per month just to get the money back later? Rather save the money currently and invest it. Current money > later money in economic terms due to investing and inflation. Good site: http://www.leaseguide.com/lease03.htm One excerpt: "If you enjoy driving a new car every two or three years, want lower monthly payments, like having a car that has the latest safety features and is always under warranty, don't like trading and selling used cars, don't care about ownership equity, drive an average number of miles, properly maintain your cars, and are willing to pay more over the long haul to get these benefits, then you should lease. If you don't mind higher monthly payments, prefer to build up some trade-in or resale value, like the idea of having ownership, like paying off your loan to be payment-free for a while, don't mind the unexpected cost of repairs after warranty has expired, drive more than average miles, prefer to drive your cars for years to spread out the cost, like to customize your cars, and don't like the risk of surprise lease-end charges — then you should buy. "
4/24/07 9:38 PM
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Fake Pie
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Edited: 24-Apr-07
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I have a set price in mind to buy and/or lease. I think I will lease, but choosing to lease has zero impact on the price I decide on. I approach that as if I was buying it. But just to make a point: if you can afford the monthly payments, and that is what you choose to spend your money on, then good for you.
4/24/07 9:54 PM
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StephenL
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Edited: 24-Apr-07
Member Since: 04/01/2002
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leasetrader.com swapalease.com i'm trying to get rid of mine. got 10 months left. stephen
4/24/07 9:55 PM
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pfsjkd
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Edited: 24-Apr-07
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I just got this book.  It's pretty good so far and I recommend it. You can get it on Amazon:

4/24/07 10:04 PM
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lelo
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Edited: 24-Apr-07
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zawi, check this website. you'll learn a lot: www.carbuyingtips.com
4/24/07 10:39 PM
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FatBoyMagazine
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Edited: 24-Apr-07
Member Since: 01/01/2001
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dont ever lease a car. According to the NADA, the average car sale nationwide results in a profit of... $78 the average car sale finance contract sale results in a profit of $755. the average car LEASE finance contract results in a profit of over $1300. So, if car companies are winning, you are losing. Buy a 1 or 2 year old car with under 15k miles on it, pay CASH. This is what the average millionaire does. I live in a big city, so you'd be shocked at what you can find with 4-8k miles on it for a fraction of the sticker. The average care loses 60 PERCENT of its value in 4 years. So a $28k car is worth 11,200 in 4 years. So you are losing $350 a month. Just toss it out your window while driving on the highway... fun, huh? :)
4/24/07 10:57 PM
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jbapk
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Edited: 24-Apr-07
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"Every person i know that makes decent money or owns a business always lease their cars..." lol
4/24/07 10:59 PM
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FatBoyMagazine
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Edited: 24-Apr-07
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yeah, youve gotta love the "tax deduction" jackasses in the world.... im going to spend 5k in interest to avoid sending 1250 to the IRS.
4/24/07 11:21 PM
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Fake Pie
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Edited: 24-Apr-07
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There is no one right answer. Different people want different things and are willing to pay different amounts for those things. Some people don't want a 1-2 year old car. This isn't an objective choice where you can say one thing is wrong period. If you want a brand new car every 3 years and that is how you choose to spend your own money then leasing is probably for you. If you don't think that is a good way to spend money that is your choice. But it doesn't necessarily apply to everyone. I probably think some of the ways you spend your money are frivolous.
4/25/07 6:59 AM
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Fake Pie
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Edited: 25-Apr-07
Member Since: 12/02/2005
Posts: 7644
If you are going to resell your car after 3 years I fail to see how the fuck buying is better for you unless you just feel like paying a bunch of money in that you plan on recovering through the sale anyhow. Maybe you think you have extra special sale skills and will make a profit? Unlikely.

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