Isit a good or bad idea to lease my first car? everyone is giving me different opinions but i want a new car? anyone done this? help?
- Anonymous1 year ago
Sure, I've leasedd several times. First, decide on the car that you want & google the payment amount. Know what you should pay & the amount of interest on the lease.4% is good. Toyota is a two year lease & most of the others are 3 year leases. Then, ask yourself, Is 12,000 miles enough? Usually, it's not. So, ask for 15,000 (per year). Realize that maintenance is up to you. You can do it yourself, but you must keep records. I always took it back to the dealer for maintenance. For a car, that's around $30 for an oil & filter. If you don't maintenance the vehicle at the proper times, they'll charge you a lot when you turn it in. Oh, by the way, you must have insurance at all times & no dings, dents or scrapes. Those are at your expense. Got it?
- oklatomLv 71 year ago
Leasing s merely renting limited miles for a limited time, and you don't own it unless you buy it at the end of the lease or turn it in and walk away with nothing or lease another one.
- Anonymous1 year ago
IF you're only going to keep it like two years and then get another brand-new one, leasing is fine. BUT if you are going to drive the wheels off of it, no.
- KayleenRLv 71 year ago
If you do not have money to buy a new car, leasing is an option
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- AlCaponeLv 71 year ago
Leasing is a terrible idea for a first car for a young driver. You don't understand leasing, which means you would likely make a huge mistake in doing it, even if you qualify, which you probably don't.
- regeruggedLv 71 year ago
Bad idea. Leasing is the most expensive way to acquire a vehicle. Then you are stuck with it if a reason comes up that you want to get rid of it. Consider taking over a lease. Visit these sites swapalease,com and leasetrader.com. Thousands of people are trying to dump lease vehicles. You can take over one for a much shorter time and see how it works for you.
- zipperLv 61 year ago
Yes I leased a car and it was the second worse thing I ever did after getting married. Your insurance on a lease vehicle is higher in cost to protect the leasing company and you build no value in the vehicle, and you have to have the vehicle serviced by the dealer as well. Look for a nice used car, you can live with out a new one. Save money and in a few years you can buy a new one!
- RonLv 71 year ago
Leasing is another word for renting. At the end of the rental agreement you get nothing
- The TaxpayerLv 71 year ago
Get a used care and drive it until it goes to the breakers (junk yard). That's the cost effective way.
- Coffee DrinkerLv 71 year ago
Plain and simple: Leasing is more expensive. There are dozens of cost studies that prove this.
If you are in a financial position where you can afford to pay more for the luxury of driving a brand new car, and for the convenience of trading it in toward another brand new car every few years, then leasing is fine. Just know that you are paying MORE to get that vs what you'd pay if you just purchased a car and kept it for a longer period of time.
Most people who are looking for their first car are not in a position where leasing is reasonable. If you can even get qualified for the lease you would be making a huge financial mistake.