Originally Posted by Lolvoguy
Originally Posted by fdcg27
... so your only cost will be in the lease payments, along with the insurance and gas any car would need.
Not necessarily.
Many do not take into consideration the time and inconvenience of potential warranty repairs/upgrades.
Well there's also wear and tear that they can get you for at the end of the lease like tires, after 3 years it may need a new set. Still, if you check leasehackr.com, sometimes there are good lease deals, depends what the manufacturer is doing.
Originally Posted by dareo
You likely own the honda outright and selling it pays a lot of lease payments. If you still down own a 7 year old honda by now then leasing something for 600 a month is a terrible financial idea. Not that leases are even "good" financial ideas most of the time. This is a luxury want and by all means spend away if its affordable and what you want. If its not affordable you may find yourself trapped in such a deal until every payment is made. Not a big market for transferring expensive leases when those with the means can just got get a brand new lease. It would suck to have a high lease payment and no gas money or money to spend at places you would drive it to anyway. If income or expenses changed during that lease you would just hate seeing the car every single day.
Usually there's a lease transfer fee. But on swapalease, you can dump a lease there. Usually you have to offer some incentive though. Sometimes I don't know what people are thinking, they just want the lease payment after having it for one year and they think someone else will pick up the other two years at the same monthly payment. The greatest depreciation is in the first year so there should definitely be some kind of incentive if they didn't put any money down on the lease.
Originally Posted by fdcg27
... so your only cost will be in the lease payments, along with the insurance and gas any car would need.
Not necessarily.
Many do not take into consideration the time and inconvenience of potential warranty repairs/upgrades.
Well there's also wear and tear that they can get you for at the end of the lease like tires, after 3 years it may need a new set. Still, if you check leasehackr.com, sometimes there are good lease deals, depends what the manufacturer is doing.
Originally Posted by dareo
You likely own the honda outright and selling it pays a lot of lease payments. If you still down own a 7 year old honda by now then leasing something for 600 a month is a terrible financial idea. Not that leases are even "good" financial ideas most of the time. This is a luxury want and by all means spend away if its affordable and what you want. If its not affordable you may find yourself trapped in such a deal until every payment is made. Not a big market for transferring expensive leases when those with the means can just got get a brand new lease. It would suck to have a high lease payment and no gas money or money to spend at places you would drive it to anyway. If income or expenses changed during that lease you would just hate seeing the car every single day.
Usually there's a lease transfer fee. But on swapalease, you can dump a lease there. Usually you have to offer some incentive though. Sometimes I don't know what people are thinking, they just want the lease payment after having it for one year and they think someone else will pick up the other two years at the same monthly payment. The greatest depreciation is in the first year so there should definitely be some kind of incentive if they didn't put any money down on the lease.