Wow! I think leasing a Malibu for $500 for 4 years is not a good deal. I am leasing a 2008 Mercedez 300 for $500 , 39 months no down payment meaning I didn't pay for the firsth month. Leasing is great if you don't like owning an old car. Leasing is great depend on your situation. Most importantly you should only lease if you drive 15k miles or less a year. When you lease you are only paying what you are using. but as I said you have to analyze first before you decide wether to lease or buy. It is not for everybody.
Walt Cabello
of RI
@
Jul 03, 2008 12:15:41 PM
Leases or balloons payments can work
Leases can be right for anyone who understands that you can negotiate a lease purchase, just like you can do with a retail loan purchase. I like to drive a new car every 2 -3 years and found that leasing works for me. With all the incentives available to the consumer, including low lease rates and owner loyalty programs, cash back, waiving security deposits and sometines even the first payment is made by the manufacture, I think it's a better deal than a financing the car.
Buying new cars are a bad investment, although there a necessity, everyone needs to get somewhere. I don't see the point with long term loans, I like short term commitments and good rates when it comes to buying cars, and that's why leases works for me.
Kevin
of IL
@
Apr 07, 2008 11:05:07 AM
Leasing vs. Buying
I purchased my last vehicle, after many years of leasing. After four years of paying $500. per month for a Chevy Malibu...................I'm looking at the extended warranty being expired, having to make a decision to buy or lease my next car. Why does everyone think that leasing is such a "taboo" thing to do, if I can pay less than a purchase price, and not have to worry about warranty issues, or just being stuck with an old car???
Sherri
of NY
@
Mar 20, 2008 20:17:33 PM
Auto leases
"...always a bad idea...payments build no equity....you're left with nothing."
MISLEADING ! Assuming a $20,000 car depreciated to $10,000 on a 3 year lease: You haven't paid out the last 10K, nor taxes on the 10K, nor interest on much of the 10K. All the while you have enjoyed a 'used car' payment, and having full factory warranty.
Their are several other reasons why leasing makes good sense. It's too bad that I've never read an article written by someone who fully understands all about leasing.
Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.
Walt Cabello of RI @ Jul 03, 2008 12:15:41 PM
Kevin of IL @ Apr 07, 2008 11:05:07 AM
Sherri of NY @ Mar 20, 2008 20:17:33 PM
Dave Gustafson of MN @ Mar 11, 2008 14:39:43 PM
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