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Thread: Mini Cooper

  1. #11

    Re:Mini Cooper

    [quote author=gmoreno link=board=14;threadid=8903;start=0#msg80382 date=1080161211]
    [quote author=ph34r link=board=14;threadid=8903;start=0#msg80380 date=1080155344]
    With leasing you get no return on your investment, and it can bite you in the wallet at the end of the lease as well. Buy it, you still make payments, but if you sell you don't have to pay extra for mileage, etc.
    [/quote]
    I am aware about the mileage. I know I should watch out for that. But regarding payments. The difference between lease and actual payments are $200-300 per month.
    [/quote]
    It's true that your monthly payment is cheaper with a lease then buying a car but I think what ph34r is saying, and I personally agree with, is that you get a car when you are finished with your 3, 4, or 5 years or payment rather then having nothing.

    Basically with a lease you give them your money then give back the car at the end so guess what, you are paying for another car when your lease is up or walking everywhere.

  2. #12

    Re:Mini Cooper

    Actually (toyota atleast) when you lease the car for 4years(or whatever) the give you the option of buy the rest of the car or finance what ever payments are leftover.

    Example

    Celica GT-S 28kCDN
    $400/month for 4 years, after the 4 years there well still be payments left. So I can buy it for whats left, put whats left towards another car(any year) or finance it ;D

  3. #13

    Re:Mini Cooper

    [quote author=The Great Mojo Jojo link=board=14;threadid=8903;start=0#msg80385 date=1080168023]
    Actually (toyota atleast) when you lease the car for 4years(or whatever) the give you the option of buy the rest of the car or finance what ever payments are leftover.

    Example

    Celica GT-S 28kCDN
    $400/month for 4 years, after the 4 years there well still be payments left. So I can buy it for whats left, put whats left towards another car(any year) or finance it ;D
    [/quote]
    Most of the time the buy option carries heavy penalties, you usually end up paying way more for the car then you would have just buying it in the first place.

  4. #14

    Re:Mini Cooper

    even if you have options your monthly payments go up When I was at toyota I would have paied the regualr price ;D

  5. #15
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    Re:Mini Cooper

    Leasing is for those who just use the car for a while and move on. Also, businesses will lease because it will count as business expense on the tax.

    With leasing, you will pay certain downpayment at the beginning of the lease. At the end of the lease, no matter whether you are going to buy it or not, they will count your allowed mileage and charge you if you go over that mileage. Only after that, they will let you buy it for the set amount of money.

    So let's say you are going to keep the car for more than 5 years ( which is equal to what you would have drive the leased car ), you are going to be paying WAY more if you are going to keep the car.

    Here is how you compare. Get the total price that you would have to pay RIGHT NOW at the dealer. Calculate what is your interest rate, then how much it would be monthly for how long ( like 48 months or 60 months ). Now, how much you would have paid at the end of that period. Remember, the end is where we want to see.

    Now, check out lease option. How much you have to make for down at the dealer right now. How much is monthly. Make the same length of time for comparison sake. At the end, how much you would have to pay for "pay off" to get that car. Now, add all that up and you will have the total payment.

    Compare the two and you shall see.

    For majority of consumers, buying and paying monthly payment will cost a LOT less than leasing the car and buying out at the end of it. As a consumer, you CAN'T claim lease payment as your expense on your tax as well.

    HTH ..

  6. #16

    Re:Mini Cooper

    they will count your allowed mileage and charge you if you go over that mileage. Only after that, they will let you buy it for the set amount of money.

    ^ thats weird toyota here atleast isnt counting the mileage ;D ;D I dont know about others.

  7. #17
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    Re:Mini Cooper

    If you stay w/ the same dealership and get another car when your lease is up you can haggle mileage and stuff.

    My Aunt and Uncle swear by leasing, they get a new truck every 2 years or so and never have to pay when they go over mileage because they stay w/ the same dealership.

    I dont think they even pay to put new tires or anything on the old vehicle.

  8. #18
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    Re:Mini Cooper

    Like some have mentioned it before, leasing is good for some people who always like to have new cars in every few years.

    If you purchase the car, it depreciates. The first few years depreciate very fast. It's better to lease it ( thus not having to deal with trade-ins and selling of your car every few years ) if all you want is a new car every few years. No need to worry about depreciation.

    Also for those who doesn't want to deal with fixing cars and stuff, leasing also makes much more sense because most cars have warranty on at least 3 years/36K miles which means you never have to worry about your car broken down and having to fix it out of your pocket.

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