leasing a car

I haven't "bought" a car since 1987. Three 4Runners and Six BMW's later all is well. Plus. I never do so much as an oil change or tire swap since every leased car these days has 50K warranty.

Compete no brainer
 
Quote from Pa(b)st Prime:

Doctor Z: Great advice as always!

I'll post a link when I get home but on Edmunds message board (I think) there's a section where guys are very specific about what they've paid on leases. My parents leased an STS several months ago and I got them a great deal by using that info. lindq is very correct. Find out on Edmunds what a 530i (for example) is selling for, what BMW's lease rate is, the residual and voila you know the "arb" value of the lease.

Another terrific option is leasetrader and swapalease. These are new forums for people who are trying to get out of their existing leases. If you're flexible as to what car you'll drive there's always something trading on the bid. Unfortunately many of the cars only have several months left on their leases.

Another viable option is locating a lender who will allow you to lease a pre-owned. You find the car and the bank pays the seller. The equation is simple. Purchase price minus residual value x interest rate divided by 36 months (usually 36 is required).
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Where is the link? I've always thought leasing was less attractive because a new car depreciates the most in the first 36 months and that's what you're paying for - the depreciation in the period of time that it is greatest. If you want a new car every 36 months that's fine, then it makes sense. But these days a new car can easily last 10+ years and 200k+ miles without any major problems.
 
http://forums.roadfly.com/forums/financing/

I agree with what your saying about better, longer lasting reliability.

Most who're leasing though, prefer a warranty. It's bad enough pouring thousands into repairs on a car you own. The only thing worse would be getting hit out of pocket for a new engine on a car your renting.

Quote from aeliodon:

Where is the link? I've always thought leasing was less attractive because a new car depreciates the most in the first 36 months and that's what you're paying for - the depreciation in the period of time that it is greatest. If you want a new car every 36 months that's fine, then it makes sense. But these days a new car can easily last 10+ years and 200k+ miles without any major problems.
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Quote from Optionspoet:

Is this to preserve cash flow or for tax purposes?
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Preserve capital for investing. I'm sure I can beat the interest rate on the lease
And out of curiosity, what model are you looking into? :)
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Lamborghini Gallardo
 
Quote from lindq:

Don't open your conversation with a dealer by telling him you want to lease. Negotiate price first, and the lease payments will be structured on that.

If they ask you "buy or lease" when you first begin looking at a vehicle, just tell them you haven't made up your mind, and the overall price is the most important thing to you.

Dealers just love it when someone walks in and announces they want to lease. An invitation to a sucker deal.
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Why not just open up by saying, "I'd like to buy and pay cash". I don't mind lying to the car stealer.
 
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