Where is a good place to find out how much a base lease price is for certain cars? I know that the price can be haggled, but is there a list of lease price/specials/interest rates for cars?

Even some "take over my lease" sites will work.

3/18/2007 4:15:41 PM

http://www.randomsite.com

3/18/2007 4:17:00 PM

i see what you did ther

3/18/2007 4:17:51 PM

the internet is a good choice!

3/18/2007 4:19:03 PM

Why would you want to lease? Do you hate money or something?

3/18/2007 4:20:31 PM

that's not the input that i'm looking for.....thank you

3/18/2007 4:21:35 PM

Seriously though, why do it. You'll pay the same thing to lease a car as you would if you just buy it and make the payments. At the end of a lease you have nothing to show for it, at the end of a car loan you have... a car!

The only reason to lease is that they'll often agree to pay for servicing the vehicle if you stay under the yearly mileage restrictions.

Here: http://www.pricequotes.com/cars/newcars.html?source=gl&keyword=car+lease

3/18/2007 4:23:47 PM

have you tried the internet?

3/18/2007 4:23:48 PM

the whaternet? i'm not familiar with said "internet"

i hate you....keep this shit in CC

3/18/2007 4:25:26 PM

Main Entry: In·ter·net
Pronunciation: 'in-t&r-"net
Function: noun
: an electronic communications network that connects computer networks and organizational computer facilities around the world

3/18/2007 4:28:50 PM

i must find this "internet" and harness it's powers

3/18/2007 4:30:17 PM

Once you do, you will realize it's almost always better to buy instead of lease and your original problem will be solved.

3/18/2007 4:31:46 PM

well, i want to lease a car for only about a year. I dont want to "have" a car yet. Just want to get a cool car to drive for about a year. I might try to pick up someone else's lease. you know...drive a car temporarily that i could not afford to buy.

3/18/2007 4:36:54 PM

thats the worst idea ever

ps - its not going to get you laid

[Edited on March 18, 2007 at 4:39 PM. Reason : ps]

3/18/2007 4:38:53 PM

Oh that's brilliant

3/18/2007 4:38:55 PM

If you can afford to lease you can afford to buy. Seriously, if you've got 400-500/month to spend on a lease (about what it'll cost to lease a "cool car") you can afford to buy something instead.

3/18/2007 4:44:02 PM

^^not trying to get laid...just want to drive a cool car until i can figure out what kind of car i really want to buy and keep.

^thank you, i thought so too

this is not a thread about if i should/shouldn't lease a car. I dont give a damn what you fuckers think about leasing a car....i've made up my mind.

[Edited on March 18, 2007 at 4:45 PM. Reason : putas]

3/18/2007 4:44:32 PM

well, I gave you a link to help you with your poor choice. Now that you've made up your mind to lease I'm sure you'll do something else dumb like lease a Hummer H3 instead of a BMW 328ci.

3/18/2007 4:47:14 PM

grrr, once again people are handing out incorrect advice about leasing. Here's an old post of mine
------------------------------------------------------------------------------------------------

Leasing is NOT retarded it's most of the people in this thread who are retarded.

Sorry to be a dick, but its a huge pet peeve of mine when people ask for financial advice and people who know absolutely nothing about finances give them incorrect advice.

Would you want someone giving you wrong advice on a major purchase? Probably not, so if you don't know anything about leasing just come out and say you don't know. Don't just throw bullshit at the guy.

Leasing a car is not at all like renting an apartment. In general houses appreciate and cars depreciate. If you don't understand the difference then only God can save you.


I'll throw some math out there even though 90% of the people will have it sail over their heads and they'll just go on stupidly believing that leasing is evil. Think about it, if leasing was such a bad deal why would anyone do it? Don't you understand that markets are always going to seek an equilibrium price?

Quote :

" "Suppose you could either buy a car for $17,990 or lease it for $149 per month plus a down payment of $2,800. Which is the better deal financially? If you lease, you pay $149 for 24 months plus the $2,800 down payment which totals $6,376 over the two years. When you lease, you have the option to buy the car at the end of the two-year lease for a specified amount, in this case $14,154. Thus if you lease for two years and then buy the car you will spend a total of $6,376 + $14,154 = $20,530. " "

Here is where you dolts come in with your $20,530 >> $17,990 logic. (-$2,540 for leasing)

Quote :

" "You are ignoring the present value of the payments that are being made. Money paid today is worth more than money paid in the future. Thus we must use the present-value formula, discounting future payments, to analyze the cost of the lease. In 1996 a car loan had an interest rate of about 8 percent. Because your choice is between borrowing and leasing, using a rate of discount of 8 percent makes sense for evaluating a lease. Using these numbers in the present value formula for a fixed-payment security the present value of the monthly payments is $3,294. Second, the $14,154 paid when you buy the car at the end of the lease must be discounted because it is paid 24 months in the future. It is just a single payment, so its present value is $12,068. Now that we have everything in terms of present value we can compare the cost of the lease with the alternative of buying the car. The total present value of the lease is the sum of the present values of the purchase price, the lease payments, and the down payment, which is $3,294+ $12,068 + $2,800 = $18,162" "

So by leasing you'd spend a whopping $172 more (WOW, what an idiot!!!!) in exchange for the following benefits provided by leasing:

- You can drive the car for a few years before deciding whether the car is worth owning.

- You can look at the market at the time the lease expires to see if the car is worth more than the buy-out price (in which case you can buy the car and re-sell it yourself)

- You can get a new car every couple of years


The major disadvantage to leasing as some of you have mentioned are the mile requirements. If you're gonna put more than 20k miles a year on the car then buying it is probably a better option. But people are like "if you drive more miles they will charge you for them oh my god!!!!" but if you buy a car and drive more miles on it then your car is depreciating anyway. The dealer isnt surcharging you to be a dick, he's surcharging you because that specific vehicle has lost value.

Long story short, if you like to change cars frequently and dont do a ton of driving then leasing is a good option. If you don't switch cars often, have long commutes to work, or travel frequently then leasing is not as good of an option.

Moral of the story. Don't listen to stupid people.
-----------------------------------------------------------------------------------------





[Edited on March 18, 2007 at 5:28 PM. Reason : a]

3/18/2007 5:24:46 PM

Why do you use 1996 rates in your post?

3/18/2007 5:57:34 PM

where leasing becomes a problem is with mileage. You are only alloted so many miles for the time you lease it. If you go over those miles, which tends not to be many, you will have a massive amount due at the end of your lease term.

3/18/2007 6:22:16 PM

right its usually 12,000 miles a year or so

but if you anticipate using more you can pay up front for them


I clearly addressed the 'mileage' dilemma in my post above

the quoted blocks are striaght out of an economics text book.

Whether the numbers have changed is irrelevant, the principals behind the numbers have not.

3/18/2007 6:30:11 PM

Rates have come down since then.

Are those #s compounding monthly. I tried to run them with annual compounding and they were off.

3/18/2007 6:38:23 PM

who the hell compounds annually

also, dont forget that its usually not even a comparison of buying it vs. leasing but making loan payments vs. leasing



[Edited on March 18, 2007 at 6:53 PM. Reason : so the cost goes up for buying]

3/18/2007 6:50:10 PM

i love how so few of the people on this board have owned/leased AT THE LEAST one NEW car, yet so many of them are fucking experts on whats the best thing to do

3/18/2007 7:01:00 PM

Just because you've owned/leased a car does not mean you know shit about the cost of one vs the other.

3/18/2007 7:04:53 PM

My dad leased a Honda Accord a few years ago and when the lease was up, they offered for him to buy it for 1000 less than the new price. What a deal.

3/18/2007 7:07:59 PM

After having sold cars and having the whole lease thing explained to me, I now realize leasing is a smart thing for a lot of people. I'd even dare say "most" people. Leases vary a little from manufacturer to manufacturer, but at the dealership I was at, you had three options at the end of a lease.
1. Drop off the lease. Turn it back in to the dealership.
2. Buy the car for the amount left on the loan.
3. Trade it in as if its your own car if you want to buy a different car when your lease is up.

The only time miles can hurt you is if you take option 1. If you take option 2 or 3 you don't have any fines or fees. I leased a guy a car who is a traveling salesman who drives more than 30k miles/yr because he planned on buying the car anyways, leasing just gave him a lower monthly payment, and at the end of the lease if he still wanted to buy it, his monthly payment was still lower than what it would have been if he had bought it. Not to mention the other benefits you get while leasing. In our training we worked scenario after scenario of a person buying vs leasing and almost every time it came out better to lease. If you have any other questions, I'll try and answer them for you.

3/18/2007 7:33:08 PM

^ exactly


Also think for a second. If you buy a car and it turns out to be a lemon then you are fucked.


If you lease a car and it turns out to be a lemon no sweat off your sac, thats the dealerships problem (or perhaps some unsuspecting used car buyers problem)


Leasing is not a bad option depending on your situation. It's certainly not just throwing money away as some would have you believe

3/18/2007 7:40:48 PM

Quote :

"Just because you've owned/leased a car does not mean you know shit about the cost of one vs the other."

might not be directed at me but i want to talk. of course its not. but for lots of us we have different needs at different ages/job situations/family situations.

a guy that lives alone and drives alot at age 28 wouldnt need the same stuff from a car/lease option that he might need a few years later if he has 2 kids and drives 23 miles a day total, plus a few miles extra on the weekends.

i didnt buy outright for any particular financial reason, i just know that i drive a lot and i wanted to buy a new car that im sure will last me for all the driving i have to do until i get to the point where i am more settled down. then, who knows, i might start leasing something nicer and nicer every 24 months when i know theres not a drive to orlando in my future every month for the next x years

point was, who knows, i dont think anyone (short of maybe a car salesman) is a car buying expert at our age.

thats all im saying

[Edited on March 18, 2007 at 7:50 PM. Reason : /]

3/18/2007 7:49:28 PM

Agreed.

My point was that there are a lot of people that do things without running the numbers or doing much needed research. If you don't believe me, then just look at all those homeowners who got fucked since they didn't know anything about their mortgages. There are probably many people that have owned multiple homes for multiple decades, but still don't know what an amortization chart looks like. The same can be said for car buyers/leasers.

3/18/2007 8:19:05 PM

buying gently used car > leasing and buying new

3/18/2007 8:30:03 PM

speaking of leasing, i got this leasing deal through a corporate discount.
2007 CLK350 2dr coupe for $550 a month, no money down for 27 months. $750 finance charge at begining of lease and $500 disposition fee at end of lease.
thats a total of $16100 in 27 months.

V.S.

a 2003 CLK320 2dr, 37K miles for $27,500 that i could buy instead

which deal would you go with?

3/18/2007 9:27:08 PM

corporate discount

3/18/2007 9:33:51 PM

if you are actually worried about the financial side of buying a car, you shouldn't be considering making loan payments OR lease payments at all. if you plan ahead you can save yourself thousands.... put the money you would be spending on a car payment each month into a personal account (CD or Money Market paying you at least 5% interest) for 3-4 years and then just pay cash for the car and save yourself all the hassle of the payments and several thousand dollars in interest. you can start a cycle.... even after you buy the car you want, keep making the car payments to yourself, and in 3-4 more years you can sell the current car and not have any loan payoff, and have enough stocked up in your personal account that is making you interest instead of costing you more to buy another new car. you can continue the cycle forever and never be in debt, you just have to be patient and drive what you can afford currently for the first couple of years

3/18/2007 10:28:43 PM

Quote :

"buying gently used car > leasing and buying new"

and

Quote :

"drive what you can afford currently"

Best advice in this thread.

3/18/2007 10:46:50 PM

^^ true but often you'd be better off buying a new car instead of paying in cash because you can finance at a discount.

Mazda is running a 1.8% financing this month... Acura had 1.9% awhile back... domestic manufacturers often run 0.0% APR because they're in such trouble


Youll always be better off financing at a low rate than you will be paying cash for a car unless they give you a LARGE discount for paying in cash

3/19/2007 12:13:44 AM

so you are saying that it is better to finanace a car and pay 1.9% interest then it is to make payments to yourself that will pay you 5% interest??? thats crazy. even paying 1.9% interest you will be paying significantly more for the car then the sticker price because of the amount of interest you will pay. if you make payments to yourself and pay cash, not only do you not pay any interest at all, you have just paid yourself those thousands in interest instead of a lending institution. financing is never as good of an option as paying in cash. the only way that would be true is if the car dealership would also pay you 5% interest to buy their car instead of making YOU pay it. i dont have time to run the exact numbers, but i know if you buy a $20,000 car and make payments for 5 years at 1.9%, you will end up paying at least $22,000 for the car. If instead you make payments to yourself equal to that car payment for 5 years that pay YOU 5% interest, you have just made yourself probably $4,000 in interest so when you go to pay cash you actually are only paying $16,000 for the car.

3/19/2007 6:29:52 AM

The only real reason to lease a car is if you want a new car every 3 years and are willing and able to pay for a car indefinitely. Even then it would probably make more sense to buy and sell every 3 years. I guess the only real benefit is not having to worry about selling the car.

3/19/2007 7:49:43 AM

^^ You've fallen into a common trap that people who don't understand financing often do.


Unless the dealership is giving you a large discount for paying in cash, you will always be better off financing at 1.9% then you will by paying for the car up front.


Opportunity cost, look it up.


Why the hell would you want to give someone $20,000 at once if they offered to let you borrow $20,000 at 1.9% interest? You already noted that you can easily get 5% in a CD or online savings account.


If someone is willing to let you borrow money at 1.9%, while it sits in a bank account and makes 5% interest then you're an idiot to pass that up.



Your argument has merit if you're talking about getting a bank loan for a car (~8%) or the dealership has no financing incentives... but with all the discount financing incentives out there for new vehicles these days, you don't have to look very hard to find a better deal.

[Edited on March 19, 2007 at 7:59 AM. Reason : a]

3/19/2007 7:56:51 AM

Quote :

"i know if you buy a $20,000 car and make payments for 5 years at 1.9%, you will end up paying at least $22,000 for the car. If instead you make payments to yourself equal to that car payment for 5 years that pay YOU 5% interest, you have just made yourself probably $4,000 in interest so when you go to pay cash you actually are only paying $16,000 for the car."

Flawed logic at its finest. Lets go ahead and use your crazy example for a minute. After the 5 year mark your invested money has made you $4,000. Now you have $24,000 right? So, you pay $20,000 cash for the car and have an extra $4,000 for yourself. Pretty sweet huh?

Now, lets use your exact same eample one more time. This time, you finance the $20,000 car at 5 years for 1.9% and you invest your $24,000 at 5%. See where I'm going with this? In the end you pay $22,000 for your car, but the interest you would make on your $24,000 investment at 5% more than makes up for it.

3/19/2007 7:57:37 AM

Also, you are really not taking into account inflation or the "money paid today is worth more than money paid in the future" principle


You are on the right track chipendave when you talk about savings and being wary of high interest loans.

If you really want to expand your consumer knowledge you need to research the following terms: discount rate, inflation, & opportunity cost. I can help if you need it.

3/19/2007 8:02:29 AM

that is all fine if you have the money to make 2 car payments. if you have $20,000 in the bank and still have enough money each month to make a car payment, you would come out alright with 1.9% financing, but odds are you are using all of your excess cash to fund the car and aren't saving the amount of the car payment each month anymore. with my way of doing it, you still make a car payment each month, but instead of making a $500 car payment to a lending institution and paying 1.9% interest on it, you are making a $500 car payment to yourself and it is paying you 5% interest.

3/19/2007 8:08:42 AM

what he is saying is that after you have enough to buy your car you should still borrow money at 1.9% since it is less than the return you can get for keeping the money invested

3/19/2007 8:24:02 AM

even still if you have 20000 in the bank at 5% and a loan for 20000 at 1.9%, making payments out of the 24000 you will still come out ahead.

your debt increases at 1.9% per month, but your savings increases at 5% per month. Both will decrease by the loan payment each month, but the savings will increase faster than the loan will.

it would be a different story if your loan was 6% or more, then paying cash would be better.

3/19/2007 8:29:25 AM

THANK YOU!!! ^

Quote :

"it would be a different story if your loan was 6% or more, then paying cash would be better."

Paying cash would only be better if you expected your investments to return < 6%

[Edited on March 19, 2007 at 8:31 AM. Reason : ]

3/19/2007 8:29:30 AM

right, i understand that... and i agree that is a good idea if you have enough to make 2 payments, but odds are good that if you start making a $500 car payment and paying 1.9% interest, you are going to stop paying yourself the $500 per month and getting paid 5%..... if you are making a single $500 payment every month, i would much rather it be paying me 5% then have to pay the bank 1.9%

3/19/2007 8:31:11 AM

You still have the large lump sum of money sitting in the bank earning interest. You don't have to add to it each month for it to grow.

3/19/2007 8:37:03 AM

you guys are missing the point of my argument completely. you are assuming that you just have $20,000 laying in the bank and not considering how it got there. in this situation you are getting that $20,000 by not making a $500 car payment every month. i am assuming that the person to whom this argument applies does not have $20,000 intitially in cash sitting in the bank, and i am also assuming that if he takes on a $500 car payment that he will not be able to save up $20,000 within 5 years. not making a car payment to the bank is how you get the $20,000. i am saying that instead of borrowing all the money to buy the car and paying even as little as 1.9% interest on it, you wait 5 years to buy the car and during that time you make the car payment to yourself, in a bank account that pays you interest, and after you have that money saved up you can do whatever you want. another point to consider when thinking about paying cash for a car is the lower insurance and tax amounts you will be paying. if the bank holds the title to your car for 5 years, you are going to be paying the same amount of insurance and taxes that entire time. if you own the car outright you will only have to pay the amount based upon the depreciated value and you can also drop certain insurance coverages that you might not want with a 5-year old car whereas if the bank holds the title you will be required to buy more insurance.

3/19/2007 8:58:19 AM

no you are not understanding what he is saying

1. follow your plan to save money
2. even though you have enough money to buy the car outright, buy it with a 1.9% loan
3. ...
4. profit

[Edited on March 19, 2007 at 9:00 AM. Reason : .]

3/19/2007 8:59:18 AM