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#4550051 - 10/21/17 10:14 AM Where are the awesome first time lease deals?
ZZman Offline


Registered: 03/17/08
Posts: 5777
Loc: Michigan
I hate seeing the "low" lease deals listed. They are for employees, retirees or family and you usually need a current or prior lease as well.
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#4550062 - 10/21/17 10:22 AM Re: Where are the awesome first time lease deals? [Re: ZZman]
Wolf359 Offline


Registered: 04/27/12
Posts: 4746
Loc: MA
Leasehackr.com.

Deals are only good during certain times when manufacturers are running incentives.

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#4550191 - 10/21/17 01:14 PM Re: Where are the awesome first time lease deals? [Re: ZZman]
Donald Offline


Registered: 03/21/04
Posts: 20450
Loc: Upstate NY
All the lease deals I see want a huge down payment.

I would buy a car where they offer low interest financing.

For your avg person, a lease is a poor choice.
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#4550223 - 10/21/17 01:48 PM Re: Where are the awesome first time lease deals? [Re: Donald]
HorseThief Offline


Registered: 10/12/17
Posts: 120
Loc: MI
Originally Posted By: Donald
For your avg person, a lease is a poor choice.


Shhh - that's what keeps the whole thing going. After return on the ultra low mileage lease, it'll be sold as CPO, and then from that owner 80K miles later... it'll eventually get to the point I can afford it.

Leases are great for their target market - those who want a new car every 2 years in order to keep up with the latest and greatest technology and not have to worry about unexpected maintenance and cost. Generally, if that's the goal, leasing puts you ahead of buying the second you drive it off the lot.
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#4550322 - 10/21/17 04:47 PM Re: Where are the awesome first time lease deals? [Re: ZZman]
ZZman Offline


Registered: 03/17/08
Posts: 5777
Loc: Michigan
Leases also allow people to drive cars they could never afford to actually purchase. Like the ridiculous price of pick up trucks.
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#4550558 - 10/21/17 09:18 PM Re: Where are the awesome first time lease deals? [Re: Donald]
Wolf359 Offline


Registered: 04/27/12
Posts: 4746
Loc: MA
Originally Posted By: Donald
All the lease deals I see want a huge down payment.

I would buy a car where they offer low interest financing.

For your avg person, a lease is a poor choice.


They just do that to play with the numbers. If you really wanted one, they can adjust the numbers for whatever you want. Typically you don't want a big down payment, but they usually demand the first month's payment and then some security deposits plus lease fees. On some manufacturers, they allow you to do multiple security deposits which you get back at the end of the lease to lower the money factor which is basically the monthly finance charge of the lease.

As I mentioned before, the real key with a lease which you'll find on leasehackr is basically all the incentives that the manufacturer offers. You can sometimes stack them and a 5k rebate applied over a 24 or 36 month lease lowers the monthly payment a lot more than over a 60 month purchase. For instance one of the deals mentioned on leaseharck is the Bolt for CA residents at $138 a month. Part of that comes from applying $3650 in incentives to the monthly lease payments. That amount over 3 years drops it by $100 a month. Doesn't really reduce the monthly payment by anywhere near that much on a purchase.

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#4550743 - 10/22/17 06:50 AM Re: Where are the awesome first time lease deals? [Re: ZZman]
madRiver Offline


Registered: 07/11/15
Posts: 3537
Loc: New England
Originally Posted By: ZZman
Leases also allow people to drive cars they could never afford to actually purchase. Like the ridiculous price of pick up trucks.


I will go further if you cannot pay for a vehicle in 3 years purchase payments or less (none optimally) you cannot afford the car either. Learn the discipline of saving for a vehicle. Will wait for the 0% interest folks to chime in......of course in lieu of that you can instead get a few thousand discount typically. So I have 0% interest but won't tell anyone they offered a $2000 discount instead.....Car buying I guess is about making you feel like you got a good deal so you can brag you did.

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#4550761 - 10/22/17 07:27 AM Re: Where are the awesome first time lease deals? [Re: madRiver]
ATex7239 Offline


Registered: 01/19/17
Posts: 331
Loc: Texas,USA
Originally Posted By: madRiver
Originally Posted By: ZZman
Leases also allow people to drive cars they could never afford to actually purchase. Like the ridiculous price of pick up trucks.


I will go further if you cannot pay for a vehicle in 3 years purchase payments or less (none optimally) you cannot afford the car either. Learn the discipline of saving for a vehicle.


Technically, if you have to borrow at all, by definition you cannot afford it.
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#4550784 - 10/22/17 08:12 AM Re: Where are the awesome first time lease deals? [Re: ATex7239]
ZZman Offline


Registered: 03/17/08
Posts: 5777
Loc: Michigan
Originally Posted By: ATex7239
Originally Posted By: madRiver
Originally Posted By: ZZman
Leases also allow people to drive cars they could never afford to actually purchase. Like the ridiculous price of pick up trucks.


I will go further if you cannot pay for a vehicle in 3 years purchase payments or less (none optimally) you cannot afford the car either. Learn the discipline of saving for a vehicle.


Technically, if you have to borrow at all, by definition you cannot afford it.


Unfortunately like many Americans we live paycheck to paycheck. Rarely can we save any money before something comes along to deplete it. This usually involves car repairs, medical bills etc.
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#4550930 - 10/22/17 10:39 AM Re: Where are the awesome first time lease deals? [Re: ZZman]
ATex7239 Offline


Registered: 01/19/17
Posts: 331
Loc: Texas,USA
Originally Posted By: ZZman
Originally Posted By: ATex7239
Originally Posted By: madRiver
Originally Posted By: ZZman
Leases also allow people to drive cars they could never afford to actually purchase. Like the ridiculous price of pick up trucks.


I will go further if you cannot pay for a vehicle in 3 years purchase payments or less (none optimally) you cannot afford the car either. Learn the discipline of saving for a vehicle.


Technically, if you have to borrow at all, by definition you cannot afford it.


Unfortunately like many Americans we live paycheck to paycheck. Rarely can we save any money before something comes along to deplete it. This usually involves car repairs, medical bills etc.


No judgement here. I grew up poor and slowly crawled my way to the middle -class.
_________________________
'12 Buick Enclave 139,xxx
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'17 Ford Fusion (Company Lease) 42,xxx
Oil Don't know
Filter Don't care

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#4551419 - 10/22/17 08:33 PM Re: Where are the awesome first time lease deals? [Re: ATex7239]
Wolf359 Offline


Registered: 04/27/12
Posts: 4746
Loc: MA
Originally Posted By: ATex7239
Originally Posted By: madRiver
Originally Posted By: ZZman
Leases also allow people to drive cars they could never afford to actually purchase. Like the ridiculous price of pick up trucks.


I will go further if you cannot pay for a vehicle in 3 years purchase payments or less (none optimally) you cannot afford the car either. Learn the discipline of saving for a vehicle.


Technically, if you have to borrow at all, by definition you cannot afford it.


Well it's not always true if you take the time value of money into account. Sometimes when the stock market is on a tear like the S&P 500 this year and is up 16%, you're better off borrowing money at 2-3% than just paying cash. Or if you've made tons of money in the market, sometimes it makes sense to take some out and just pay cash for a car. Either way can work.

For instance in the last 5 years, the S&P 500 is up over 90%. If you paid 30k for a car in cash 5 years ago, you didn't pay any interest, but you'd be behind a guy that put the 30k in the market and has 57k now.

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#4551429 - 10/22/17 08:49 PM Re: Where are the awesome first time lease deals? [Re: madRiver]
Mr Nice Offline


Registered: 09/12/04
Posts: 21187
Loc: Orlando, FL
Originally Posted By: madRiver
Originally Posted By: ZZman
Leases also allow people to drive cars they could never afford to actually purchase. Like the ridiculous price of pick up trucks.


I will go further if you cannot pay for a vehicle in 3 years purchase payments or less (none optimally) you cannot afford the car either. Learn the discipline of saving for a vehicle. Will wait for the 0% interest folks to chime in......of course in lieu of that you can instead get a few thousand discount typically. So I have 0% interest but won't tell anyone they offered a $2000 discount instead.....Car buying I guess is about making you feel like you got a good deal so you can brag you did.


Leasing allows people (big hat no cattle) to drive around in vehicles they can't afford.

Nothing says success like a person driving a $60,000 pick up truck with optional $7000 'glitter and glam' package to impress their neighbors. Same goes for the cash poor people leasing BMW, Benz, Lexus , etc... just for show.

The people who should be leasing are business owners and can write off these associated expenses.

Unfortunately lots of people get into these fleeces (Dave Ramsey phrase) and have nothing to show for after years of payments.

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#4551497 - 10/22/17 09:56 PM Re: Where are the awesome first time lease deals? [Re: Mr Nice]
Wolf359 Offline


Registered: 04/27/12
Posts: 4746
Loc: MA
Originally Posted By: Mr Nice
Originally Posted By: madRiver
Originally Posted By: ZZman
Leases also allow people to drive cars they could never afford to actually purchase. Like the ridiculous price of pick up trucks.


I will go further if you cannot pay for a vehicle in 3 years purchase payments or less (none optimally) you cannot afford the car either. Learn the discipline of saving for a vehicle. Will wait for the 0% interest folks to chime in......of course in lieu of that you can instead get a few thousand discount typically. So I have 0% interest but won't tell anyone they offered a $2000 discount instead.....Car buying I guess is about making you feel like you got a good deal so you can brag you did.


Leasing allows people (big hat no cattle) to drive around in vehicles they can't afford.

Nothing says success like a person driving a $60,000 pick up truck with optional $7000 'glitter and glam' package to impress their neighbors. Same goes for the cash poor people leasing BMW, Benz, Lexus , etc... just for show.

The people who should be leasing are business owners and can write off these associated expenses.

Unfortunately lots of people get into these fleeces (Dave Ramsey phrase) and have nothing to show for after years of payments.





I run credit reports on lots of doctors. They're all leasing MB, BMW, Audi etc at 1000+ a month and they usually just have some million dollar plus mortgage. Leasing is just the way to go on those high end cars. Their incomes are usually well above six figures, some approaching 500k. They're usually just cosigning for an apartment for their kid.

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#4551721 - 10/23/17 07:56 AM Re: Where are the awesome first time lease deals? [Re: ZZman]
Mr Nice Offline


Registered: 09/12/04
Posts: 21187
Loc: Orlando, FL
I'm not talking about legitimate millionaires, I talking about people with decent credit but zero savings.

Of course dealerships push leases onto younger folks that haven't figured out personal finance yet.

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#4551922 - 10/23/17 12:04 PM Re: Where are the awesome first time lease deals? [Re: Mr Nice]
Dumc87 Offline


Registered: 06/05/10
Posts: 591
Loc: Florida
Originally Posted By: Mr Nice
I'm not talking about legitimate millionaires, I talking about people with decent credit but zero savings.

Of course dealerships push leases onto younger folks that haven't figured out personal finance yet.



I'm broke as a joke, with one car financed but I own the other 3. Lukewarm about the whole car payment ordeal; the Matrix is by far my most reliable vehicle, but the Jeep, Z and G20 all have better "character" if you will
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