For Stock Rigs Only

I had three years of French about 50 yrs ago.
Oui
Non
& Nes pas
Keska too fay après le coal?

And I passed!!!

Happy Thanksgiving to all you stockers!

 

You too Chuck

 

Enjoy your day Bill!

 

I would feel bad for the guy except his attitude canceled all that.

So he lost any help we may have offered. If there was any.

 

I had no choice to learn.

My mother learn in Catholic School by nuns. Learn or got hit with a ruler.

Happy Thanksgiving!

 

He probably have the "I don't care" attitude.

He probably going to try to walk away from the lease thinking the dealership isn't going to take him to court.

 

With a lease you're basically paying for the depreciation of the vehicle why you have it. The residual is determined at the beginning of the lease. This is the number that is what the vehicle will be worth at the end of the lease term....in average condition, average tires and mileage within the allowable range.

Anything out of range....mileage, condition, bald tires, giant holes in the engine block are not accounted for in the lease structure. Those items negatively effect a vehicle's value. So the lessee is responsible for the difference.

There are some cases where the market value gets wacky and a vehicle ends up being worth more than the residual. In those cases it's sometimes prudent to trade the vehicle in right before the lease ends and take advantage of the equity....especially if you may owe money at the end of the lease. This can help mitigate the cost

 

You too brother

 

Does a lease have a early termination with a fee?

 

I don't know. Most probably don't. You can walk away from a lease anytime you want. But you have to pay off that lease or pay the difference between the trade in value and the lease payoff

 

Is leasing a vehicle worth it? Considering the vehicle has to be in like new condition when returning the the vehicle.

 

It depends on your situation. A vehicle doesn't have to be in new condition. Just average condition for the year and mileage.

It's really the same on a buy in a sence. The better condition a vehicle is in the more it's worth. If you're a couple of years into a 5 year buy and want to trade it or sell and the vehicle is trashed....door dings, smoked in, never washed and vacuumed, etc....well, you know the result.

I've leased several vehicles over the years for my wife. For a number of years my wife just jumped from one lease to another every 3 years. She was always in a newer car, always under warranty....plus you can generally lease higher trim levels for a cheaper payment than you could on a lower trim level buy because options usually bump the residual.

 

In this area, jealous people will key the cars up. Idiots will slam their door it to someone else door. It hard to keep the cars in nice condition.

I can see why people lease but I don't know if it worth it. I know someone who lease a SUV. The mileage per year is 10,000. Dealership wants the resell value high.

 

No actually....lower mileage leases make for lower payments. That's why 10k a year leases are advertised. Lower the allowed mileage, the better condition the vehicle will be in at the end of the lease.

On a lease you're basically paying the difference between the Cap Cost (price) and the residual. The smaller the gap between the two the lower the payment.

You can put as many miles on a lease as you want. If you know you drive 20k miles a year then you structure the lease that way. Miles are much cheaper to buy at the beginning of the lease than to have to pay for them at the end of the lease...where they're typically in the 25-30 cent per mile. At the beginning of the lease they're usually around 10 cents per mile.

Dealers don't care. They don't get the vehicle at the end of the lease. They are returned to the lessor

 

I did your research on leasing a vehicle.

Is leasing to own cheaper than paying a vehicle loan?

 

we were thinking of a lease however, when you finish the lease you have nothing. Kinda like renting.
You pay and pay and get nothing in the end.
But, that’s how I look at it..

 

I've leased quite a few over the years and know a thing or 2 about it.

Generally speaking, if you know 100% that you want to purchase the vehicle at the end of the lease, you're better off just buying to begin with

 

But you've paid for the time that you had it....which is the purpose of a lease....paying for the time/depreciation only. I car is not an investment. It's a depreciating asset.

If you purchase a vehicle on a typical 5-6 year loan you do not own that vehicle until the last payment is made. You'll be lucky to have any equity in it after 2 or 3 years.

Now...if you're the type that keeps vehicles forever, then you might as well buy to begin with. Leasing would make no sense.

 

Some tips when leasing:

Negotiate the Cap Cost (the price) just as you would any deal. You can't control the residual. But you can impact the Cap Cost.

Never lease a vehicle for longer than the basic bumper to bumper warranty. You could end up being liable for a repair.

Never put money down on a lease. Doing so just lowers the Cap Cost. While that may lower your payment....let the dealer discount the Cap Cost instead. Many dealers will simply set up the Cap based on full MSRP and make you reduce it buy putting money down. It's sometimes referred to as "Cap Cost reduction" or "Capitalize reduction". You might have to put the 1st payment and a security deposit (usually equivalent to 1 months payment) down. But that's all you should have to do....and even that can often times be rolled into the lease.

 

For a normal daily driver I agree but kinda disagree on the “ not a investment “