Questions tagged [auto-leasing]
a specific tag for any questions to leasing of automobile. Please add information about any mileage restrictions, and other key highlights of leasing terms. Please add country and state tag.
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Do I have any recourse if I was pressured into a car lease?
We thought our lease was due at the 3 year mark. We contacted a dealer and the pressure sales was pushed strong. In less than 2 days they found a car that was similar, but newer.
They stated that ...
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Why lease option is so high when purchasing Tesla in Poland?
I am trying to understand what am I paying for when I purchase Tesla based on monthly instalments in Poland.
When I try to pre-order Tesla Model 3 in the US site everything seems simple and self ...
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Why is the residual added to the capitalized cost of a vehicle to compute the lease's rent charge
I am trying to understand how lease payments are computed. As described here and confirmed here you compute the lease payment by adding the appropriate fraction of the depreciation to a rent fee that ...
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Can Leased Assets be Collateralized?
Consider leasing something.
Typical examples are a three-year car lease or renting an apartment.
Although there is no "down payment" per se, typically, a lessee does put some sort of ...
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Can I switch my car lease to prepaid?
My financial circumstances have recently changed, and as a result my cash flow is slightly negative. I have a car lease but I also have enough saved that I could prepay the remaining payments on the ...
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Does the cost of an auto lease depend on anything other than depreciation?
I want to acquire a car and I think a lease would make sense, because my use case is low annual mileage and I only want it for two or three years. I do NOT want a new car, because used is fine and I'd ...
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Lease with intent to purchase a vehicle
I am in the market for my first new vehicle ever. It will be a minivan for our growing family and we ideally plan to keep it forever. That being said, none of my vehicles have ever cost more than $15k ...
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What's the best way to quickly get a car on low budget with a poor credit score?
I am starting a new position somewhere that I'll absolutely need a car, so I have to buy one. But I have a poor credit score, so the best APR rate I can receive is about 18%. That means financing a ...
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How do car leases work? [closed]
I have seen many questions asking about leasing vs buying.
I have always bought used cars with cash and have never looked into leasing a vehicle.
I have no idea how they work. Can someone explain how ...
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Are auto manufacturer lease promotions the same as money-factor promotions?
Car manufacturers often run lease promotions in which they quote a lease cost ($X down and $Y/month) for a particular vehicle model. We know that the total cost to lease a car is a function of three ...
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How to negotiate a lease when residual values on used cars are so high?
Negotiating a fair lease payment is usually boiled down to considering the depreciation value and finance charge - which involves the capitalized cost, residual value, and money factor.
In the past, ...
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What advice do you have for a first-time used car buyer in terms of paperwork and/or legal documents?
My question is about the basic legalities of buying a car in the United States, not anywhere else in the world.
I have never bought a car before in my life.
I was looking at some used cars for sale on ...
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Is COVID-19 used car deals and lease renegotiation really a thing?
I have been reading that due to the COVID-19 pandemic, auto inventories are high and dealers often do not want lease returns. Wholesale auction prices are reportedly plummeting even as of a couple ...
user12515
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I needed a co signer but my cosigner is the primary on my auto loan
so just a couple days ago I was able to get a car for. $100 down right i thought to good to be true so i went to the dealer ship anyway,
they ran my credit and gave me 2 options they told me i can get ...
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One price lease?
I am planning to do a one price lease to save money, but I am concerned that if the car gets totaled early due to an accident or gets stolen, I would lose a lot of money. Am I right? Is this generally ...
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Should I sell back a lease early in order to improve Debt-to-Income?
My wife and I just started the process of buying our first home. I've noticed DTI is very important as far as how much home you can get pre-approved for. Knowing this, I have started thinking of ways ...
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18 years old and looking for advice on loans, buying a car, financing, etc
I'm 18 years old, I've been growing up in a place where there is animosity towards success, trust nobody and help from nobody is the point. Finally I'm on the right path but I'm having troubles. I ...
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Auto leasing and early payments
If I pay extra on my auto lease, does that go towards the buy out price for the end of my lease? For example if im paying 400 a month for 48 months and my residual value is 11,500 at the end of the 4 ...
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Are all automobile leases closed-end lease?
For example, consider entering into a lease contract with BMW SUV X5. As usual, the duration of the lease is 3 years and the lessee is required to make equal install payments during the duration.
At ...
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Suppose leased car is totalled: what are financial implications?
Inspired by this question on totaling vs repairing a car and my situation (I'm leasing a car) my question is:
Suppose a leased car, properly insured as per the lease (i.e., comprehensive) is involved ...
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What should I consider in a decision to lease or buy a car?
My car may have been totaled by a driver who plowed into me at a stoplight. The body shop and the insurance adjustor are still evaluating the damage.
If the car is a total loss, I'll have to decide ...
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Buy my leased car?
My 2016 Lincoln lease is up. I'm considering buying it for $25000 and putting $7000 down to meet my finance 60 month payment budget.
My Salesman said today that much down is not a good idea as I will ...
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How is leasing a car beneficial to the one who leases? [duplicate]
They say that a car is a depreciating asset and so leasing a car works better than buying one. I heard this from folks and car salespersons. Although I understand the aspect of leasing cars meaning ...
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Is it advisable to over-pay automotive lease?
I have a large automotive lease on an electric vehicle, and some extra cash. Of the investments and debts I have it's currently at the highest rate (5.5%), Does making early or larger payments reduce ...
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Recent grad with bad credit in need of auto loan
I'm a recent college grad. Due to some stupid things I did during my masters, I have a bad credit with 3 missed payments on my account and 2 collections. I got a job recently with a six figure salary ...
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Does the invested equity in a leased vehicle count towards the residual value?
Let me preface: I have learned my lesson and am trying to mitigate the consequences as much as possible. I was naive and did not fully understand what I was agreeing to.
I was talked into trading in ...
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Are there typically penalties for trading in a lease on a new car before the lease contract ends?
We're about 13 months into a 39 month lease. Our payoff is about $40,000.
We are looking at trying to get into something that will lower our payments a bit, and so checked a local dealer to see what ...
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Buying a new car - price dropped while awaiting delivery
People!
I've been doing okay financially and recently ordered a new car (Middle of April).
While the vehicle is expected to be delivered in the next 2 weeks, I noticed that the dealership website has ...
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Leasing Question
I leased a vehicle for 39 months. At the time they told me I was allowed 12,000 miles a year. On the contract I and the dealer signed where it says not to exceed a certian amount of miles or .25 per ...
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Is it a bad idea to lease a car even when looking for a car for only short term purposes
I am looking to buy my first vehicle and I was convinced that a leased car would be better option due to lesser upfront costs, lower paymnets and an option to buy the car at the end of the lease.
...
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Leasing a car with good income, but very young
I am 19, but I'm employed as a software engineer, making six figures. I want to lease a very expensive sports car, but I'm not sure if my age will stop me from doing this.
I've had three credit cards,...
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Financing and Leasing, difference!
What is the difference between leasing and financing a truck? My friend needs to buy a truck to start a business, and he asked my suggestions regarding the lenders offering a loan. In my search, I ...
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Costs for swapping car lease
I'm considering an auto lease swap, for which the online sites (swapalease, leasetrader) have info on the number of months remaining and cost per month etc. However, after some research I realized ...
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NY State Sales Tax on Lease Transfer
I am hopeful that someone can help me understand New York State (NYS) Sales Tax with regards to a lease take over, in what seems to be paying tax twice.
So here is the scenario:
Person A leases a ...
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Infrequent car rental vs. lease/buy
I live in a large city and do not currently own a car. I use public transportation, ZipCar, Uber, and a bike to get everywhere I need within the city. For bigger trips outside the city, I have been ...
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Should CA sales tax be charged to vehicle lessee on the portion of capitalized cost reduction from a federal rebate?
Should California sales tax be charged to a vehicle lessee (at inception of lease) on the portion of the capitalized cost reduction that is 'paid for' by a federal rebate?
Background: certain ...
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Finance, Cash or Lease?
I'm currently leasing a vehicle and I like the way it works, especially since I got a really good deal on my current vehicle. However, it is due to go back in the next few months so I am looking at my ...
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What options do I have when trading in lease with equity?
We leased a 2014 Honda Odyssey Touring-Elite in the U.S., and will be maturing our lease with right at the agreed mileage (36,000). We signed our lease with an estimated residual value of $23,000 -- ...
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Leasing a car: Do I need credit approval for total lease amount, or full amount of car?
Say I want to lease a car. Dealer says $350/month for 3-years.
The car is $23,000 if buying in cash.
Do I only need credit approval for $12,600 ($350 x 36-months), or for $23,000 ?
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Get rid of car lease in an emergency situation
One of my friends leased a car 5 months ago from Acura with a 36 month lease. She has a emergency situation and she might have to go back home (North Africa) in 2-3 months.
Apart from using Swapalease ...
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Can I pay off a portion of my lease to increase mortgage approval amount
My girlfriend is applying for a mortgage, but is unable to get approved for enough because of high payments on her car lease.
These numbers are rounded for convenience, but currently, the payments ...
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Leased a car but did not use the mileage - what options do I have
Background:
About three years ago I was victim of carjacking. My car (Honda) which I owned got totaled and after a month of working with insurance I got a equivalent value of my car from insurance ...
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Electric car lease or buy?
I know the conventional wisdom for leasing vs. buying, but are the economics of an electric car significantly different than other vehicles?
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Is it irresponsible for me to lease a $300/month car for 18 months?
Here's my financial situation.
My net worth not including student loan debt is about 4.5k.
I make 95k a year but end up getting about 4k a month (after retirement saving, health insurance, etc).
My ...
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Do I have to pay Sales Tax on my leased car twice when moving from VA to FL?
I have a vehicle that I'm leasing and in the state of Virginia you pay sales tax on the full purchase price of the car when you are leasing.
I have now moved to Florida and the lease company has ...
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Why are auto leases stubbornly strict about visa status and how to work around that?
I live in Washington state and want to lease a car from Subaru.
I work for Microsoft, have decent income and good credit score (~718). I'm in US for a bit more that 1 year on an H-1B visa and I'm in a ...
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Recent College grad in need of car
I am a recent college grad with a salary around 48k/yr at a very stable job.
When I began college my father leased a 2013 Hyundai Sonata for me with a 208/monthly payment. My lease is about to be up ...
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Buy car vs lease vs long term rent for 10 years period
After reading a few questions about renting vs buying an house and seeing how many people strongly support renting, I'm wondering if the same applies to renting vs buying a car.
Suppose:
I don't ...
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Should I trade in a car I own to lower my payments on a new lease?
I currently own a crossover SUV, valued at roughly $9000. I'm planning on leasing a truck in the nearish future, with the intent to finance the balance after the lease ends.
I've read that down ...
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Should I buy or lease a car given that its not a super luxury car and I only drive 15 miles/d on avg?
For my first car, I bought a Toyota Camry. 3 years later I sold that car and I am leasing a BMW series 3. My lease will expire early next yr and I am thinking getting the X3/X5, do you recommend ...
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