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User Topic: Leasing a car??
cmego
♀ Member
Member # 30346
Default  Posted: 1:17 PM, June 16th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

I have always bought my cars, but now that I am single, and on my own, I don't like my cars to get very old. My current one is 2.5 years old and I am ready for a new one.

Someone mentioned leasing to me as an option since I have no intention of ever driving a car into the ground again.

Does anyone do this? Positives and/or negatives, please!


me...BS, 43 years old, 2 small kids
WS, 41, multiple gay affairs
M 15 years, together 17
Divorced

"For whatever we lose, like a you or a me, it's always ourselves we find in the sea" ee cummings


Posts: 4005 | Registered: Dec 2010 | From: Virginia
MovingUpward
♂ Guide
Member # 14866
Default  Posted: 1:23 PM, June 16th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

Leasing comes with its own issues like what is normal wear and tear and what is excessive. They are probably milage limited and if you go over there are additional fees.

As for buying or leasing cars tend to drop a higher percentage of value in the first couple of years. With that in mind you might find buying a two year old car and keeping it for two or three more years as you could still be under warranty but not having to pay such a premium.


AKA Moo

Think of the haters in your life as sandpaper; they’ll scratch you up time and time again but in the end you’re polished, smooth, and spotless..while they end up useless

We make a living by what we get, but we make a life by what we give.


Posts: 51432 | Registered: Jun 2007 | From: Big Blue Nation
hitbyatruck
♀ Member
Member # 23769
Default  Posted: 1:38 PM, June 16th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

I never really understood leasing. It seems like you are just renting a car for a few years with the option to buy it when you are done with the lease.

For me I will always run a car into the ground. Having a new car is great but I also enjoy the no payment after it is paid off. Twds the end of the car's life is when you have to decide if it is worth putting big money into it.


Married 1998, 2 kids
D-day3/27/09,he left 5/23/09
WH wants to rebuild 3/21/10
He moved back in 9/25/10,
Dec, 2011-finally putting it all together, H had multiple affairs.
Possible porn addict for 15 yrs.
01/2014- in house separation

Posts: 3279 | Registered: Apr 2009
Dreamboat
♀ Member
Member # 10506
Default  Posted: 1:55 PM, June 16th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

It is tempting to lease because the monthly payments are less than buying a new or even fairly new car. However, you still have to pay regular maintenance (oil change, tire rotation, tire replacement, 15,000 and 30,000 mile "check up",...). And if you go over mileage it is VERY expensive (I speak from experience here). The plus side is that you do not have to worry about major problems with the car because they will almost always be covered by the dealer warranty. and you will perpetually be in a new car. The down side is that you will perpetually be making a car payment and you are basically eating the first year depreciation for the dealer.

There are pros and cons both ways.

I recently bought a 2 yr old car with ~28,000 miles. It was much less than a new car, but the monthly payments are way more than if I lease. However, I plan to keep this car 10 years or more (assuming I don't wreck it).


And it's hard to dance with a devil on your back
So shake him off
-- Shake It Out, Florence And The Machine

Posts: 17605 | Registered: Apr 2006 | From: A better place :)
cmego
♀ Member
Member # 30346
Default  Posted: 2:27 PM, June 16th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

I guess I view cars differently because I don't drive them into the ground. I have always sold them at about the 3 year mark anyway. I am used to that monthly car payment.

I have no family close, no SO, no one to "help" (besides friends) if something goes wrong/I get stranded/ have to leave car in the shop. I do have AAA for flat tires and such. But I just don't want to have to worry about my car.

Leasing the car I want is the same monthly amount that I am paying on a car I currently hate. I don't put a ton of miles on my car either, I live close to shopping and such/school. My current car is 2.5 years old and still doesn't have 30K miles on it yet. I think I can stay within the mileage requirement.

Keep em coming! thanks, guys!


me...BS, 43 years old, 2 small kids
WS, 41, multiple gay affairs
M 15 years, together 17
Divorced

"For whatever we lose, like a you or a me, it's always ourselves we find in the sea" ee cummings


Posts: 4005 | Registered: Dec 2010 | From: Virginia
Dark Inertia
Member
Member # 30727
Default  Posted: 2:33 PM, June 16th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

Yeah, there are people out there who have accepted a car payment as being a bill that they will always have. I hate car notes and leases, so leasing is definitely not something for me. I am also one who will drive a car into the ground. Buuuut, if I do not go on many long distance drives and like to trade up every 3 years or so then I would look into leasing. My SO's mom leased cars for decades, and just recently financed her first car. She fucked up with her last leased car, though, by going over the mileage. Anyway, I think the idea behind leasing a car is similar to renting an apartment.

[This message edited by Dark Inertia at 2:34 PM, June 16th (Sunday)]


"If I listened earlier, I wouldn't be here. But that's just the trouble with me. I give myself very good advice, but I very seldom follow it."

Posts: 1172 | Registered: Jan 2011 | From: The Ohio
sisoon
♂ Member
Member # 31240
Default  Posted: 7:05 PM, June 16th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

With leasing, you pay for the car, you're responsible for the car, but you don't own the car. In return, you get to use it at a lower monthly cash outlay than if you actually held title.

Cars are pretty reliable now. The best financial bet is what Moo suggests.

Whatever approach you choose, I hope you get a super-reliable car.


fBH (me) - 65+, fWW (her) - 65+, Married 45+, together since 1965
DDay - 12/2010
Recovered, not yet fully R'ed
I share my own experience because it's the only experience I know, not because I'm a good model.

Posts: 9732 | Registered: Feb 2011 | From: Chicago area
scaredyKat
♀ Member
Member # 25560
Default  Posted: 7:18 PM, June 16th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

I too, am considering leasing, after always driving cars into the ground. I love my current car, which I bought, but I am seriously considering trading out in and leading the same car. My reason? Despite the fact that it is a high end car, and relatively expensive, it's not NEARLY as well made as my previous cars. I just don't think it's going to hold up. I drive very little, and, frankly, I dont ever want to drive a clunker again...


Me-BS-60-Can't tell you how painful it was to change this number!
HIM-SAFWH-63
Damn autocorrect is responsible for the silly errors, sorry!

Posts: 3256 | Registered: Sep 2009 | From: In my head
cmego
♀ Member
Member # 30346
Default  Posted: 5:45 AM, June 17th (Monday), 2013View ProfileEdit MessagePrivate MessageHomepage

Yeah, well, I need a car with a 3rd row seat. I HAD a car with a 3rd row when D-day happened. As soon as we S, I sold it because I knew I couldn't afford it any longer. I bought a much lower end, smaller SUV that I have hated ever since. The kids are now almost 3 years older, soccer playing is taking over my life and I need to get ds to practice/games 3 days a week!! A car pool has started, which I can't participate in because...I don't have a car large enough to take other kids. Plus, I can't take my nieces and nephews with me....because I don't have a 3rd row, I can't take kids friends with me...because I don't have a third row.

I still can't afford the monthly payment on my old dream car...which I loved. Did I mention I loved that car? But, I can afford it as a lease.

I am going to call the dealership today and see how this works. My current car still has ex's name on it. My only income is Spousal Support...but, ex is willing to sign off to sell the car, but I want the lease in my name only (although still S...so technically married). I have excellent credit and a legal document stating my Spousal...just hope they are willing to let me do this!


me...BS, 43 years old, 2 small kids
WS, 41, multiple gay affairs
M 15 years, together 17
Divorced

"For whatever we lose, like a you or a me, it's always ourselves we find in the sea" ee cummings


Posts: 4005 | Registered: Dec 2010 | From: Virginia
swizzlestick03
♀ Member
Member # 30102
Default  Posted: 11:33 AM, June 17th (Monday), 2013View ProfileEdit MessagePrivate MessageHomepage

I am a huge fan of leasing and would much rather do that all day then be stuck with negative equity and an aged automobile.

I like to trade cars frequently. There are leases that include maintenance, etc.

I just leased a Ford Edge Limited for a great price and it had everything I wanted. The rates for leasing (Money Factor) were actually better than purchasing with a better payment, so it made more sense on that particular car to lease.

I am a former Saab owner (4 in 5 years between my husbands cars and mine) and I got burned badly by them going out of business with negative equity, unavailable parts and an invalid warranty. I never want to be in that situation again, so I think leasing is a great way to go.


Me: BW-32
Him: WS-31
D-Day #1: 16 August 2010
D-Day #2: 16 January 2011
One small kiddo.

Posts: 558 | Registered: Nov 2010
MoreThanMe
♀ Member
Member # 25451
Default  Posted: 1:56 PM, June 17th (Monday), 2013View ProfileEdit MessagePrivate MessageHomepage

I read somewhere-that you never, ever, do anything but get ripped off when you lesase a car. Buy one silightly used and then trade them in every few years.


Brevity, typos & misspellings provided by my ipad and fatigue.
It's been 4 years, SA husband sober. We're doing okay. Today.

fWH had ONS with High School Principal he met on Ashley.com. 08/25/2009


Posts: 696 | Registered: Sep 2009
gahurts
♂ Member
Member # 33699
Default  Posted: 5:56 AM, June 18th (Tuesday), 2013View ProfileEdit MessagePrivate MessageHomepage

Don't you have to pay a large, non-refundable up front fee every time you lease? To me that fee is a deal breaker. I can deal with a monthly payment but not making a large outlay all at once.


"Strength does not come from physical capacity. It comes from an indominable will" - Mahatma Gandi

"Courage is being scared to death and saddling up anyway." - Aubrie


Posts: 3315 | Registered: Oct 2011 | From: Georgia
wifehad5
♂ Moderator
Member # 15162
Default  Posted: 7:56 AM, June 18th (Tuesday), 2013View ProfileEdit MessagePrivate MessageHomepage

Don't you have to pay a large, non-refundable up front fee every time you lease? To me that fee is a deal breaker. I can deal with a monthly payment but not making a large outlay all at once.

No you don't. If they try to make you put a large amount down, walk away. If you're careful, it can be a good deal. Just watch the fine print on the contract


FBH - 42
FWW - 43 (BrokenRoad)
2 kids 7&12

The people you do your life with shape the life you live


Posts: 36421 | Registered: Jun 2007 | From: Michigan
cmego
♀ Member
Member # 30346
Default  Posted: 12:44 PM, June 18th (Tuesday), 2013View ProfileEdit MessagePrivate MessageHomepage

I did a lot of reading last night...as long as I negotiate well, I think it will work. I am familiar with the jargon and terms now...and understand I can negotiate the contract and terms!

Now the issue is wether they will consider a Separation Agreement as financial standing.

To be continued....


me...BS, 43 years old, 2 small kids
WS, 41, multiple gay affairs
M 15 years, together 17
Divorced

"For whatever we lose, like a you or a me, it's always ourselves we find in the sea" ee cummings


Posts: 4005 | Registered: Dec 2010 | From: Virginia
LoveActually
♀ Member
Member # 31030
Default  Posted: 4:27 PM, June 18th (Tuesday), 2013View ProfileEdit MessagePrivate MessageHomepage

My husband just leased a car and it was nothing down--and I mean nothing down--exactly like it was advertised. He signed the papers and drove off in it-it's gorgeous. He also negotiated the mileage and had them bump it up--payment is less then mine which is 5yrs old and it's covered under full bumper to bumper warranty for the term of the lease--plus free oil changes. We leased one other car before and at the end of the lease bought it and in the end, after all was said and done, we actually paid less for it than if we had purchased it instead. My husband grows bored of cars before we have ever ended up paying them off so this is a nice alternative for that sort of person I think.


BS (Me)
WS (Him)
D-Day 5/29/09
Married 11 yrs, together 16 yrs

Posts: 757 | Registered: Jan 2011
Topic Posts: 15

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