Lease a rip-off or not?

[NightAngel79]

I like the lease option for a ton of reasons. I hadn't even really thought of it being a credit builder, lord knows I need that. Filed for bankruptcy few years ago to clean up the wreckage of my 20's, lol. Well to be fair most of that was from my crazy, heroin addicted babies momma

But still, if I can get a 2013 for no money down at 250, or with my trade in and get the payments to 200 a month I'd be crazy not to jump on that.

Then, at the end of the lease I buy the car. Maybe in the grand scheme of things I am paying on it for a few extra years. I can live with that.

 

[unnamedny]

I like the lease option for a ton of reasons. I hadn't even really thought of it being a credit builder, lord knows I need that. Filed for bankruptcy few years ago to clean up the wreckage of my 20's, lol. Well to be fair most of that was from my crazy, heroin addicted babies momma

But still, if I can get a 2013 for no money down at 250, or with my trade in and get the payments to 200 a month I'd be crazy not to jump on that.

Then, at the end of the lease I buy the car. Maybe in the grand scheme of things I am paying on it for a few extra years. I can live with that.

look for deals, lease is mostly based on residual value on vehicles. That's why Japanese cars are relatively cheap to lease comparing to American cars. American cars worth much less after 3 years so dealers don't make as much reselling them.

Another thing, I wanted to lease a Civic, we got a decent deal, but there was a problem, and it was insurance cost. Turned out we could lease Accord for $40 extra and it would cost the same as Civic because Civic was higher to insure.

Check your biggest dealership in your state or out of state. If you want to get a decent deal without breaking your neck, I'd wait for Memorial Weekend. It's the holiday + the end of the month. It's much easier to negotiate the price at the end of the month when big dealership probably met its sales and can move down a little more.

Good luck

 

[mplevy]

Keep in mind that if you're going to negotiate the residual value to buy out the vehicle, do it at lease inception. The residual will likely be set once the lease is signed and started.