Lease quote questions...

gmckeef · August 1, 2016

you anti-leasers are funny. "you are all broke cause you lease" blah blah. How about I pay 400 a month on a brand new car and let 60 grand make 11% interest per year. See who's making the dumb deal now? everyone is different. There is no right or wrong. I like driving a new car every 3 years, so I lease.

Silvern Sentry · August 1, 2016

If I drove less enough miles I would lease. I one of those that gets a new ride evey 3 years max. So I buy,I buy vehicles with the best discounts. I put 40-60k miles a year on them, so breaking even is my goal. My payments usually run just shy of 500 per month. I'm cheap every other way so my splurg is my ride.

You can get open ended leases no mileage or penalty for going over. I am on one currently. They are higher obligation but if you bring it back lower or reasonable mileage you get $$$ back on the back end. Typically most commercial vehicles you see are open ended leases.

Whether you pay cash finance or lease or just buy a clunker and drive it into ground there is a yearly cost to drive anything (monthly if you prefer to divide by 12).

When a lease is negotiated with terms the residual is simply calculated at a rate of about 32c per km times your selected mileage per year. Your obligation is simply the difference between price of truck - calculated residual. The penalty for going over is usually around 64c per km or almost double so always best to pay for more mileage and get it back on the backend IMO rather than pay overrage.

truckguy82 · August 1, 2016

I just leased an RDX for my wife, and I have every intention of buying it.

I leased it because buying it was the same amount of money as leasing it and then buying it.

With leasing, it just gives another exit strategy.

The car is worth more than the buyout price as well. So even if we don't want to keep it, we will be buying it and then selling it private party.

KARNUT · August 1, 2016

I'll check that out thanks.

You can get open ended leases no mileage or penalty for going over. I am on one currently. They are higher obligation but if you bring it back lower or reasonable mileage you get $$$ back on the back end. Typically most commercial vehicles you see are open ended leases.

Whether you pay cash finance or lease or just buy a clunker and drive it into ground there is a yearly cost to drive anything (monthly if you prefer to divide by 12).

When a lease is negotiated with terms the residual is simply calculated at a rate of about 32c per km times your selected mileage per year. Your obligation is simply the difference between price of truck - calculated residual. The penalty for going over is usually around 64c per km or almost double so always best to pay for more mileage and get it back on the backend IMO rather than pay overrage.

ram1067 · August 2, 2016

100% spot on!! also keep in mind GM also most everytime offers a pull ahead so miles & wear tear are a non issues.

I just leased an RDX for my wife, and I have every intention of buying it.

I leased it because buying it was the same amount of money as leasing it and then buying it.

With leasing, it just gives another exit strategy.

The car is worth more than the buyout price as well. So even if we don't want to keep it, we will be buying it and then selling it private party.

amen brother!

you anti-leasers are funny. "you are all broke cause you lease" blah blah. How about I pay 400 a month on a brand new car and let 60 grand make 11% interest per year. See who's making the dumb deal now? everyone is different. There is no right or wrong. I like driving a new car every 3 years, so I lease.