car lease

**miss_thrifty** · 09-13-2006, 09:55 PM

me and hubby were looking at a car lease, beacuse were fed up of having acrap box truck that he needs for work, break down or something happen to it every month. Wrere looking into the lease agreements and the low payments, well its would only be 50 less then what we pay now, but every 3 years renew and get new one. He is sick of buying old cars, im use to being frugal, and paying it off or trading up to better one. But the truck was deffently not a better descion on hubbys part. Anyone have aleased car in here, I dare say, most people may frwon on us, but right now icant see us with any other options.

**Drgnfly423** · 09-13-2006, 10:11 PM

I have worked at dealerships for the past 7 1/2 years processing loans and leases. Some people love them, but for the most part people can't wait to get out of them. Usually you have to put a lot of money down, then you have to keep it for the term of the loan or face consequences. Also, there is a yearly mileage limit with a penalty for every mile in excess of this. These are just things to keep in mind if you are seriously thinking of it. Also if you do get sick of having a lease it can be difficult to get out of the cycle. There are penalties if you don't give the car up or sign a new lease. Just be sure you check all your options.
This is just my opinion.

Good luck!!

**Daisygirl** · 09-14-2006, 12:32 PM

I worked in dealership leasing dept.s for several years. I lease a car myself. These are the pros and cons straight out.

Leasing is good if:

You are a low mileage driver
You want to always be under warranty.
You plan to replace your vehicle within 4 years or less.
You are not rough on vehicles cosmetically (you pay for rips, dents and stains).
You need a lower monthly payment

Purchasing is best if:

You want to get a car and maintain it well so it will last for many years for you, one day leaving you with no payments
You are a high mileage driver
You are cosmetically rough on cars
You don't mind a higher payment each month
You have a large amount of money to put down, thus having some equity sooner.
You intend to keep the vehicle longer than 5 years.

If you follow the lease agreement and stay within the mileage allowance, you won't have those big penalties but it is very important to be aware of your driving habits so you can realistically say whether or not you can do this. If you damage the vehicle you must pay for the repair. There are also added insurances (with Dodge it is WOrry Free) that cover up to $2500 in little door dings and stains. I have it on my car - with samll children it is well worth $10 a month. I also have some body damage I will have to repair before returning my vehicle. I have only had to do brake work and oil changes on my car and will be moving into a new car with a new warranty next year. It is not for everyone but works well for me.

PM me if you have any other questions I can answer -- I am happy to go into more detail.

**miss_thrifty** · 09-14-2006, 04:01 PM

thanks miranda and Karen,
yeah we dont have a deposit to put down on it, Its the Pontiac Pursuit 2007, and yes we wnt to renew every 4 years,a nd it has 80,000km, for the 4 years, we would never go over that. Its not lower then wahta were paying just that the truck seems to be every month in the garage(at least $100-$150), and we spend at least $150 on gas. So we figures were spending $300 on repairs and gas together. Gas oa moth would proably be about $70 no more then $90 a month.
Daisy girl im going to pm you, i got question and ill sned u link if tthats alright?