Is car leasing a good way to avoid the hassle of buying and maintaining a reliable vehicle?
Answers:
I puzzle at some of the other answers. I wonder if some of them have ever really leased a vehicle and which ones read your question.
Leasing a vehicle does not relieve the driver of the maintainence responsibilities. The financial and maintainence responsibilities are very similar to those of someone financeing a car.
You will still have to be the registered owner of the car (the leasing company will be the lienholder, similar to the bank bieng the lienholder on a financed car.) so YOU will still need to arrange insurance. AND, since you will be leasing a new car, minimum liability insurance will not be enough. You will need to pay for comprehensive coverage. All deductibles will still be your responsibility.
The usual periodic maintainence is out of your pocket, unless this is part of the package you finance. (Yes, you still have to make finance arrangements, similar to a loan) Mechanical breakdowns not covered by warranty are your resposibility. Wear and tear items such as lights, wipers and tires are out of your pocket, etc.
I think these guys are confusing car leasing with car rentals.
The biggest difference with a lease agreement is 1. The lack of substantial down payment saves the need for 5 to 10 thousand dollars of cash, up front. It usually only takes a couple of thousand to drive away in a leased car, 2. You don't have to make 15 to 30 thousands of dollars worth of payments to purchase the car outright. At the end of the lease term, you may be able to turn in the keys and walk away free and clear.
So, it is still as much of a hassle to lease a car as it is to buy. The finances are major, but may still offer advantages to you. But, based on your questions, the advantages may not be what you expect.
yes
Yes it let's you get a good feel of a car first, and it prepares you if you decide to buy a car, as running a car is expensive if you don't have the money, and it is like a human being, you don't look after your car it will not look after you!
leasing is good but watch out for mileage limits and such,
Beware of the "Balloon Payment"
Leasing a car is the most expensive way to own a car, Basically, it gives you the luxury of a new car and never having to worry about up keep, in exchange for a very high cost for each mile driven. If you have money to spend, then go ahead - but you're much better off buying a reliable new or used car and driving it for 6 or 7 years.
I find that not driving does away with all this hassle. I get taxis or trains when I need to.
If you're the type that trades the car in every three years, then leasing might be for you. But I think most people buy their cars because they keep them longer. And if you buy one of those cars that are built to last, then you really save money in the long run. I've owned a Honda for 7 years now. The only maintenance I've had to do on it is change the oil, and get new tires. NOTHING has ever broken on it. Oh, I did take it to the dealer to do some kind of check up on it, and they replaced some belts. But what I like, is that it's never failed me out on the road like all my American-made cars have.
It will cost more to lease in the long run than buy. And you still have to pass a credit check to lease. And you are still responsible for some types of maintenance, such as tires. Otherwise, go for it.
Yes done it for 4 and a bit years, now on the second motor,, it works well, a bugeted amount every month, and just a call away from service / repairs.
worked for me.
leasing a car is expensive way ,unless your loaded, then do it.
Not necessarily: not all lease agreements include maintenance, you need to be very careful about exactly what is covered.
Also, remember the leasing company is out to make money so you will be paying more than the average owner.
Finally, beware of your mileage agreement, exceed this and you could face a stiff penalty.
We've got a lease for a car as a trial for 8 weeks. it was really good. BUT something extra is that: contract that is not easy to get out. It's like a mobile phone rely, just a bit more expensive. After leasing a car went to the auction and bought very nice, very cheap 6 months old car.Didn't take any loans
I don't have experience leasing a car but here is where go can go and get more objective opinions.
http://www.leaseguide.com/lease03.htm.
http://www.intellichoice.com/carbuying10.
http://autos.msn.com/home/newsadvice.asp.
Yes - if you always want to have a car payment. You can alwasy have a new car this way, but you have to watch b/c when you turn it in - they can get you for over mileage adn that adds up very quickly! I used to lease it was a good deal, but i always had to put money down and i always had to make payments - it was the same difference basically as buying a car in the long run between the money down and the payments and in the end i had nothing to really show for it. Good luck to you.
I think there are many clauses in leasing a car that people do not fully understand. You can not get out of the lease once signed. You do have the responsibilty to repair whatever damage may have been done while in your care, and you will pay much more for it than if you go and buy a reliable car.
It amazes me that most people consider that they have "made it" when they own their own home (instead of renting) and can lease a car (instead of owning). Leasing will cost much more then owning. First get a good relationship with a mechanic (ask friends, family, co-workers to recommend one or look in the yellow pages for businesses were the mechanics are ASE certified) and have them look at a car before you purchase it. Your mechanic may also give you some advice on what's a good model. Like mine (my dad) did..Don't buy a car with a quad-four, dodge's have transmission problems and imports are more expensive to repair. All cars have problems, but I've had luck with V6 Grand Am, Grand Prixs and their chevy counter-parts.
Car leasing may sound like a good idea but think about it like this: when you are making them payments on the leased vehicle you could add a little bit more to and make payments on something you would own instead of have to give back in 36 months and probably still owe more on because you went over your mileage and it deprecited the car more and you still have to get the car fixed if it broke down.
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