Anyone have any advice on this?
Some Background: (questions below if you don't wanna read it all)
I have never leased a car before, I have no one close to me that has ever done it either. DH has leased before, but its been decades since he has done it.
DH wants me to get an AWD/4WD vehicle since I will be the primary baby transporter. Buying a new car with AWD/4WD thats within my budget gives me like 2 choices. We have lost our asses financing a used vehicle before and really hate the thought of chancing that again.
My current car turns 3 years old this December and only has 24,500 miles on it. I could lease a vehicle without going over the mileage limits, just not sure how it all works.
I have looked at the current "specials" that are out there, but it seems like they are for the absolute base model, some of which are only for the front wheel drive version of the cars.
In short, my question......Does leasing work like purchasing ? Do I just find the car I want, and then the negotiating begins? What is negotiable? The length of the lease? The monthly payment? The mileage per year limit? The down payment?
I plan on stopping in some dealerships this week after work to talk to people, just thought I would pick your lovely brains for some insight/opinions.
Thanks ladies!
Nov. '14 January Siggy : Work Sucks!
Me 32-DH 38
Married July 14, 2007 ----- TTC # 1 October 1, 2013
BFP March 7, 2014 ----- EDD November 17, 2014 ---- Baby boy born November 16, 2014
Re: Car Leasing
Also, I love my Subaru and would recommend it to anyone who wanted an AWD car
**Follow your heart, but take your brain with you**
Edmunds.com is a great resource for anything vehicle related - research, reviews, buying vs. leasing, and the forums are extremely helpful for either because you can look to see what other people are getting in terms of lease or purchase deals in your specific area. I've never leased, but there are lease forums on there. I used the site a lot with the purchase of my last vehicle, was able to negotiate with several dealers and get a great deal I wanted over the phone, just had to go into the dealer sign-paperwork and drive it home. Good luck.
I would not do it unless you plan to buy. But you can get a much better interest rate on the first 3 years if you lease first, which is why we go that route. Before this I had a civic, which I leased first and then purchased afterwards.
Several people in my family have worked in car sales. They have all leased at one point or another. But like I said it's really only a decent plan if you plan on purchasing after lease is up.
@belmont1785 I wondered about that. DH has an infatuation with volkswagen, and he was checking out the Tiguan. I seen one lease pricing example where it actually listed the purchase price after the lease was done and it didn't seem like a bad deal when the lease payments + purchase price combined was compared to the original purchase price of the vehicle.
Unless I discoverd I didn't like the vehicle by the end of the lease, we more than likely would purchase it. With all the more miles I am logging, the vehicle would still have a ton of life in it after the lease was done.
Nov. '14 January Siggy : Work Sucks!
Me 32-DH 38
Married July 14, 2007 ----- TTC # 1 October 1, 2013
BFP March 7, 2014 ----- EDD November 17, 2014 ---- Baby boy born November 16, 2014
I drove a leased car and it didn't end up making sense for me. This was years ago and I ended up going over the mileage in the lease and they were very nit-picky about minor scratches to the car. I know that with a baby scratches and stains etc. are bound to happen. Perhaps it is worth it if you buy the car in the end.
We recently purchased a used SUV with about 30k miles on it and got a great deal on it. It is nice not having to worry about the mileage too.
I've leased a couple of cars now. I negotiated the upgrades to my vehicles both times and mileage this last time. I am paying $10 over what I would be paying for a base model Sonata for a fully upgraded Sonata with an extra 3k miles per year.
Come prepared with a cash downpayment and they will be more willing to work with you on any additions you need. Also, this is a GREAT time to look at leases because you can look at the brand new 2014 models that they would be begging people to take right now since all of the 2015 models should be out.