Anyone ever Lease a Vehicle ?

[CMorg]

I am in the market for a vehicle , I want to keep my payments below 360.00 a month. I dont put more than 6k miles on my vehicles in a years time. I have been looking at used Suv's I need 3rd Row seating. Anywho , I thought about leasing ? Never done it before... But I cant see spending 21700. plus a 5000 downpayment , then in 5 years when its paid off it will be worth 7000.00 , any help ? Ive been looking at GMC Envoy XL SLT.

[zooker]

nope i normally wreck them before i have them paid off..


besides for leasing wont work for me i put 50k mile on a ride in a year..

zooker

[bassintxlady]

if you don't put alot of miles on it, then a lease vehicle is good enough for the pocketbook....but you will have a baloon payment due on the end of the lease or you will have to finance it again...more likely at a higher percentage rate and you'll need another down with that....i say investigate these lease deals on the net....join in on chats from those who have done them already for the one's that i have known that did that were very disatisfied in the end....

[betursweetbass]

As a former Car Salesman & Finance Officer, I don't promote them to family and friends, but they do have their place in the auto market. I can tell you that leasing is a good way to go if you don't care about not actually owning the vehicle. In most typical lease's you are merely long term renting. This means you are responsible for maintaing the vehicle and it's overall up keep, much more than if it was your's outright. I've been out of the Auto Sales field for some time now and I'm sure they most likely have some very attractive lease's available these days due to the lack in sales for GM and Ford.

If you have good to excellent credit, you should be able to find a No Down deal. 5K down should be easy to beat. If you are in no hurry, shop around for specail promotions by the GM folks, I got my CK1500 for Zero down and No interest on the loan. Good Luck.

[WTL]

Why?

Give me 5 or 6 grand, and it would be fairly easy to find a used SUV in the range of 100 k miles. Thats what I did before. So far, it has lasted me 6 years. If you were to calculate per month that 69$ a month.

Most of the depreciation occurs early on in the life of the vehicle. What I would do if I were you is look at those vehicles that are already 5 or 6 years down the road and already down to 5-7 grand, then ride them till its time to bury her, Al Bundy style.

Don't know too much about leasing, although someone in finance once told me it was an awful idea in general. Can't remember specifically what he said.

[Sluggo Man]

I'd recommend looking at all cases individually. I bought a 1997 Taurus with 155,000 miles for $1,900 that runs well and has been taken care of. I'm hoping it will last me through college (currently a freshmen, so we'll see) but I know people who have had Tauruses last for well over 200,000 miles, one guy even had one get 300,000. Just don't buy any made before 1997 or you get trannie problems.

[CMorg]

Thanks for all the input. I am about to go get my SUV.. 2005 GMC Envoy SLT , EX... its a nice ride. Thanks again guys.

[adamgambill]

Yeah Morg that is a sweet ride. Check out ls1tech.com when you start modding.