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Old 06-15-2002, 08:59 AM
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Has anyone leased?

Has anyone leased a car before.

We bought a 97 Grand Prix about 18 months ago that has turned out to be a piece of crap. We seen in the paper they were leasing a 2002 Dodge Durango (which is what we wanted because it has 3rd row seating and we have 3 kids in car seats) for a $130 more a month than what we are paying for our crappy car..lol. The only thing is, it's a 66 month lease! But it has a 7 year warranty so it would be under warranty the whole time.

I think we have decided to go ahead and fix our Grand Prix, to get it paid down some more before we trade it in (so it won't appraise for less than what we owe) but I thought I would get ideas on leases. Has anyone ever done it? Would you do it again? I've never even considered it, but I thought I would learn more about it before knocking it..lol
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Old 06-15-2002, 11:48 AM
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Never Again

I would never again lease a vehicle. I leased a 1994 Previa van in '94. My difficulty came in the mileage limits-I even paid up front for an extra 5,000 miles a year, but I came out owing so much money for mileage when the lease was up that I had to buy the van- Consequently I threw away the money up front for the extra 5000 miles each year. When I traded it on a Toyota camry in '98, I was so upside down in value-Never, never again would I lease.
I bought my last van at CARMAX-it was used with 10,000 miles on it, but they have a set price and I did not feel like I got taken-anyone who would have bought that van would have paid the same price-it felt so good to not have to do any wheeling and dealing.
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Old 06-15-2002, 11:55 AM
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lost his shirt

My son leased his first new car, and he also had put a hefty chunk of change down with the lease. When he found the suv that he wanted to buy he turned the car in and still had to pay an an arm and a leg to get out of two months of a lease.
When you lease a car you end up with a payment and nothing to show for it when the lease is up.
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Old 06-15-2002, 03:35 PM
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we lease adn I must say that it is not the ideal way to go but sometimes it is the only way to go. you might want to look into a ford expedition instead of a derango. we have one and it also has the 3rd seat but it does have more leg room and it is usually cheaper. we also looked into the derango but decided to go with the expedition. It is a great vehicle and has a better safty rating than the derango
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Old 06-15-2002, 07:26 PM
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Ummm...leasing is not the way to go unless you have very bad credit or have a lot of money to throw down the drain....

Here are a few sites to help you.....

http://www.edmunds.com


http://www.carbuyingtips.com/

Please take the time to review all the info these sites provide.

By the way I love the durango....in fact we just bought one...
Picture is attached.....*s*The Expedition, because of its more narrow wheel base for its height, has a higher rollover risk than the Durango. This is proven in rollover tests.
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Last edited by Jeannie; 06-16-2002 at 02:45 PM.
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Old 06-15-2002, 09:22 PM
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The best part of leasing a car or truck is that you can have a more expensive set of wheels than if you purchased outright.

The bad part is the mileage, if you are over....you will pay for it.
66 months is a long time, if you decide on leasing try to go for a shorter lease so you won't have to make any repairs. New cars should be free from problems in the first 3 years. Of course there is always the "lemon" you might get.

Good Luck!
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Old 06-18-2002, 12:57 PM
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well this is the situation

My dh insisted on buying that stupid Grand Prix even though I told him no. Well the car ended up being junk, and we are only 18 months into the loan...we still owed 10,000 dollars but it was only worth about 5-6000....so we had negative equity...

So we ended up leasing, it was the only way we can get out of this viscious cycle of negative equity...My dh would buy a USED car on a long loan and before you know it we still owe a lot and the car is falling apart since it was used to begin with. I did not want to do this again, and if we bought another car, the car lot was going to add the negative equity onto the loan again...so by leasing even just once, at least when this lease is up, we will be able to turn the car in and have 0 equity....and we can save money for a car to pay CASH this time! I think my dh has finally learned his lesson and I told him I wouldn't let him do things that I know will be bad for us just because he's begging and pleading..I will stand up for myself more!

But it is a Ford Windstar Minivan! We have 3 kids so it will help, and it's suppose to be really safe.

Hopefully we won't be over miles because I don't work, dh has a work car...so the only time it will be driven is when we go someplace together as a family.
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Old 06-18-2002, 05:05 PM
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Hi Hollyjjj!

So happy for you and glad you have great transportation! I love the Ford Winstar's. If they would come in 4wheel drive I would of purchased one...they ride like a car. I own a Ford Areostar. It has come handy for us...we could haul many supplies for building, furniture, etc.

I have found Ford's to be very dependable and you can really run them for a long time! I have a Ford Bronco with over 100,000 miles and it runs like a top!



janet
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Old 06-18-2002, 05:09 PM
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Thank you so much.

We went thru all the cars we have owned and Ford's were the ones that ran excellent for us..so we thought we should stick to it.
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Old 06-18-2002, 07:22 PM
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I know you already decided, but here is my two cents...

If you can't pay for the vehicle in its intended lifespan you will have it - You need to rethink if you really need that specific model/style or just want it. (Many times the features you want are available in less expensive styles or models)

I've heard you should never get a car loan, but I can't agree completely with that. We pay off our car loan before its time to trade in, the months we don't have a car loan we try to save that amount (aren't 100% sucessful yet!) and can make a bigger down payment!

If you trade in the vehicles before they are past their prime (and take great care of them!) that helps also! We hate to spend our money using someone elses! We realize we are a minority but good luck to you, your vehicle is one major purchase!
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