itchyfingers
Roadie
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- 574
I can see that, and clearly you've done your homework. Don't listen to me, I'm the devil on your shoulder saying "loans are cool man!"
Car lease ending soon, I have questions
- Thread starter Baba
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Baba
Shredder
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- 1,212
I can see that, and clearly you've done your homework. Don't listen to me, I'm the devil on your shoulder saying "loans are cool man!"
No no, that's fine. There's no way I can drive a car that I'd want to drive, in this day and age, without a payment. That is simply not possible, so that's fine.
I'm just trying to figure out if I can come in below $500.00 on something nice, or if I'm better off just keeping mine.
the swede
Shredder
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I can’t even read the whole thread because car purchase and even leasing gives me heavy anxiety and panic feelings
Baba. If you’re “in” the lease loop, stay there. If you get out, you’ll be out, and then it’s better to stay there. No… forget all that… it’s all wrong. I can’t give you any advice… but I feel you man… I feel you.
Baba. If you’re “in” the lease loop, stay there. If you get out, you’ll be out, and then it’s better to stay there. No… forget all that… it’s all wrong. I can’t give you any advice… but I feel you man… I feel you.
Jarick
Rock Star
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- 2,935
I've had to re-write this thread a few times because I'm so long-winded.
I leased a car once and it was a good experience. I had really bad luck with used cars that needed a lot of repairs so I locked into a lease with no repair or maintenance cost. At the end of the lease my car was worth about $5,000 more than the purchase price, so the dealer offered me $2,000 in cash if I purchased then sold to them. We used that as a down payment on a minivan as we just had our third kid and needed a much bigger vehicle. The whole process was painless.
I get that the best option is to pay cash for a car that's about five years old and drive it until it starts to break down. But right now used car prices are CRAZY. So I have no idea what I would do if I needed a car right now. I'm lucky that we bought our two vehicles in 2019 before the world went nuts. My coworker sold her five year old car back to the dealer for $5,000 less than what she paid for it! And I just checked, used Honda CR-V's are selling within a couple thousand of sticker on a new model. That's insane.
IMO if you really like the car you are leasing, and if you can afford the payments, just buy it at the end of the lease. If it's too much car, see if the dealer wants to buy it from you, or shop it around to dealers for a different car if prices are reasonable. They may want to do the same thing, have you buy the car and then they pay you a premium for it.
I leased a car once and it was a good experience. I had really bad luck with used cars that needed a lot of repairs so I locked into a lease with no repair or maintenance cost. At the end of the lease my car was worth about $5,000 more than the purchase price, so the dealer offered me $2,000 in cash if I purchased then sold to them. We used that as a down payment on a minivan as we just had our third kid and needed a much bigger vehicle. The whole process was painless.
I get that the best option is to pay cash for a car that's about five years old and drive it until it starts to break down. But right now used car prices are CRAZY. So I have no idea what I would do if I needed a car right now. I'm lucky that we bought our two vehicles in 2019 before the world went nuts. My coworker sold her five year old car back to the dealer for $5,000 less than what she paid for it! And I just checked, used Honda CR-V's are selling within a couple thousand of sticker on a new model. That's insane.
IMO if you really like the car you are leasing, and if you can afford the payments, just buy it at the end of the lease. If it's too much car, see if the dealer wants to buy it from you, or shop it around to dealers for a different car if prices are reasonable. They may want to do the same thing, have you buy the car and then they pay you a premium for it.
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