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Vehicle leasing help/advise. Pro/cons, what to look out for. TIA


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Hey all. Welp, the time has come. My old faithful TSX is getting sold. Ive absolutely LOVED the car. Had it almost 10 years. Never a single issue, quarter million on it blah blah and it still runs strong. The clutch is basically toast (6 speed man), it gets in gear, kinda, and slips most of the time till it hits high rpms, then catches,... the ac pooped out on me right at the end of summer, and the other lil things that happen to a car when age and mileage catches up. But over all, this lil car has done me more than fair.  I still drive it to work and back, did today in fact.

 Ive been 100% satisfied with it. But, it is time to move on. Im just looking for a newer daily. To and from work,  get me outta state for get aways, reliable as balls, looks decent, and drives well/comfortable. Then, pay cash for a "fun" rig. Its time for me to get kinda loud again. 

Anyway, the question isn't what rig to look for, or why im not just fixing this, but,..... im looking at leasing. I know dick about it, never done it, never had a family member do it. I did set up a bar meet/lunch with a golfing buddy that has leased the last 7 cars hes drove. Its the only way he will ever do it. I thought id toss out the question to the members, and see if i can learn a thing or two before going full retard. I know the mileage thing, which, ill have to address some how, as i put hella miles on with my commute. Id expect they have a "high mileage" lease option, or some shit. I also would think they dont want me to puke all over in it, let my dog shit all over in it, and shit like that so they can resale it. But, sneaky other contract stuff, and other lil shit they slide in the contract, i could use a heads up on, or, if you have leased, and dug or hated it, id love to hear.

 

 TIA for any help/advise.

KB

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How much do you drive? If you can stay under lease mileage you'll be ok.  If you can't you'll get taken pretty good. I know you drive a lot so I don't know if I'd consider it. Maybe lease something nice and pick up a beater for the commute. A civic for 5k will run forever. And you can throw a bit of beat in it. If I end up changing jobs to a longer commute I'll be doing thag

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I hear you. And ya, you know me dude, i put on some silly mileage. I have swapped my shift from 5 days a week, to a rotating shift. I work longer days, but much less of them. Maybe i need to get the calculator out, and see what im doing now, vs the M-F gig. Gotta be a dick load less. Probably either way, I would have to see if they have a "high mileage lease option" for sure. And, that may remove the entire lease thing from a attractive second option to financing/buying, to no way in hell.

I need to go to some dealers and do that shit. Ask, and blah blah for sure.

I do want another audio rig. So, i was gonna lease my daily, not fuck it all up, and buy a "beater" rig to cut up and beat up.  If that makes sense. Ive been looking around for some time now, just waiting till i finally said fuck it, and sold the tsx. Man, you can get so much more vehicle, with a much smaller payment doing the lease shit. And all i want/need, is something silly reliable to get me through the 6 lane chaos commute, and home. Then outta state here and there,when i get the itch to vanish. But, i know you loose the equity built, and all that also. I just dont know what way to really go. The lease payments im calculating, even with the 1000 down, is just really really attractive vs buying. 

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The seductive thing about leases is you get a lot more car and/or pay a whole lot less each month vs buying/financing.  Like you said though, when its all done, with the lease you are left with no equity vs when you purchase a car after you pay it off its yours and you still have that equity.  With a lease you are basically betting the financing company that the vehicle is going to depreciate more than what you are paying to lease it and they are betting you it isn't.  My opinion is like most bets, usually the house wins. 

Another thing to consider, with a lease you are paying interest on the entire value of the car the entire time you are leasing it, you just don't see that number because its built into the cost of the lease, but you are still paying it.  

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Lease for 25k miles a year wont be that cheap lol.. plus if you decide to buy the car off after the lease is done you will over pay around $5ks on $30k car.. plus eventual extra charge if you put more miles than your lease says..

sometimes Loud is NOT pretty

Sounds like its safe to go ahead and bend that ass over.

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