Leasing: Good Deal or Not?

How in the world did you work at 3 dealerships and never learn you could sell your lease?? You must've been in parts or service definitely not sales, if you were in sales and never learned that then I need a word with your manager he's FIRED lol.

"They" don't need to let you do anything, YOU can go sell it to whomever you want, there is no reason to go back to the dealer unless its for a buy bid. Same way you can sell your financed car you still owe $ on. Its an extra step but not some major hurdle I've done it plenty of times on both leased and financed vehicles.

 

I sold my Honda Accord to the local Toyota dealership at the end of my lease period and walked away with a check for $2,000. I've not seen a car lease that didn't have a buyout amount you could request, which is no different then when you finance a vehicle.

 

Because they get subsidized leases from the manufacturer. They don't pay what regular Joe pays. It's a perfect advertising for the manufacturer and the dealership.

 

This is a company buying the contract then, not you cashing in at the end of the lease. They are agreeing to buy the vehicle at market (lol) value which is then used to pay off the residual on your lease contract before paying you the net difference. This is not the same as you cashing out your lease at the end because those terms are not in your lease - it's strictly up to the dealership.

Either way, once you figure in all the fees and other crap, this still isn't working out in your favor. You are paying way more in lease origination and other fees alone than you would on interest over the life of the loan if you have a good rate.

 

Yes and no. Many aren't the type to keep a car for long and a 2-3 year lease hedges a lot of bets against a loan and trade every few years. That is the scenario where leasing actually makes sense assuming you don't drive a lot and keep your car in good shape.

Definitely had some good deals buying as an employee though.

 

True, but mostly because they can't say NO to a dirt cheap lease payments.

 

It's really that with a lease, negotiations have a 2-3x greater impact on the monthly payment and getting a vehicle below cost is better than anyone will get through normal negotiation. It only makes sense to buy if you plan on keeping it the duration of the loan.

 

I've done this three times. Sold two to Vroom and one to private party (two Honda's and one Toyota). Made a few dollars on all three. Yes, it's possible.

 

We do!?!? No one told me.... I guess I missed out on all that sweet subsidy cash . Keep telling yourself whatever you need to, I guess the guys that do this for a living, literally do more leases in a week than most consumers will do in a lifetime... they're all just fooled, or apparently paid secret subsidy money to lie about it lol

 

Weird when I sold my last one to a guy on craigslist I guess it was illegal, he just gave me a check and that was it, better report me!! I've been doing this wrong all these years

And all these hidden "fees" you keep talking about I guess they just snuck them all past me, I've seen like 5,000 lease contracts in my career but I guess I just missed it every single time geez I must be blind! And weird how my bank account never noticed these hidden "fees" either, almost like they don't exist

 

Coworker of mine’s wife works for Daimler. He typically leases because the lease in $100 to $200 per month for a new Merc. Every year he trades in, no down payment and rate stays the same. It is an employee discount to drive and represent the company.

 

FAKE NEWS! Didn't you hear the man!? This is IMPOSSIBLE!

 

Yeah lexus and BMW does the same... but they are a very small part of the car business. Take a look at high end sales vs:

Toyota, Honda, Ford, GM, Chevrolet, Hyundai, Kia, Nissan... None of those have hidden subsidy money I know cuz I've worked with all of them. And yet go to any of those dealerships talk to any of the employees and chances are they lease. Again, not because theres some car conspiracy its because they know how to work the programs, same programs available to you

 

Two words - gap insurance.

 

one word... EQUITY.

I'd rather get paid $ back than use gap insurance to cover my ass

 

One more set of questions: is this a troll post?

What did the OP end up doing?

Why do I click on and reply to these threads?

 

Lol, I am actually in the same camp as you. Only bought the taco because my previous ride needed too much $ in repairs (after 13 years of ownership and 180,000 miles) to justify the expense. I just wanted to play advocate for the devil.

 

lease can be great for some and not so great for others.. at 18k a year mileage wise i don't think its a great idea.. if you are buying afterwards a lot of times the mileage will be partially forgiving....

lots of financial experts will say never to buy something that depreciates

tacomas lease very well since they hold value so well..

never put money down on a lease.

google how to calculate a lease. tons of info out there...

 

I like your deal, sales i believe are declining with all brands. I honestly dont know why someone would buy a 2019 uless its a great deal...with the slight refresh coming in a few months.

The only thing that I dont like is the miles your putting on. Basicly your going to buy a truck for around 33k after taxes with 60k mileage. But it isnt exactly used to you, you know it.

Ill give you a (for instance.) My residual is 27,6. I should have only tops 14k miles at around 3 years. I plan to sell it and make close $4k.

Edit, maybe you do not have sales tax, that would be alot better for you.

 

If thats 0 down/drive off that's a fantastic deal.

With these trucks the residual is so crazy good you may actually have equity in the vehicle when the lease is up!