Tipping point between leasing and buying
#61
Intermediate
iTrader: (3)
Im not sure if leasing is better or worse than financing, but in my case I just ordered an IS 350 F Sport and will lease it for 36 months for $184.00 a month versus financing one for $625.00 for 5 years. Traded in a 2011 Hyundai Sonata for $14,000 to do this. If it wasn't for leasing I would have been getting another Hyundai. No brainer for me after driving an F Sport. Granted in 36 months I need to make a decision on purchasing it for $31,000 or get something else then. But in the end the difference is around $50 bucks or so if I financed it or buy it after the lease.
https://www.clublexus.com/forums/is-...250-350-a.html
#62
Lexus Test Driver
$184.00 a month. How did you do that? Please share details on the thread below.
https://www.clublexus.com/forums/is-...250-350-a.html
https://www.clublexus.com/forums/is-...250-350-a.html
#63
#64
Not a chance in Hell he got $184 a month even with a 14k trade in unless he put a ridiculous amount down for a lease.
I decided I was done with buying vehicles and all their related unexpected expenses and lack of equity. I received $7500 on my trade in and, with the lowest rate possible and a very good purchase price, am paying $380 for a loaded 350 F-Sport AWD.
I decided I was done with buying vehicles and all their related unexpected expenses and lack of equity. I received $7500 on my trade in and, with the lowest rate possible and a very good purchase price, am paying $380 for a loaded 350 F-Sport AWD.
#65
Lexus Test Driver
Sell it and keep the money. Put it in the savings and use them if you decide to purchase the car at the end of the lease or downpayment for a new car than.
If your car is totaled or stolen during the lease you just lost $14000
The vehicle is not owned by you - you're just "renting" it from a leasing company. Your insurance company has no obligation to pay you for any money you lost as a down payment.
If your car is totaled or stolen during the lease you just lost $14000
The vehicle is not owned by you - you're just "renting" it from a leasing company. Your insurance company has no obligation to pay you for any money you lost as a down payment.
#66
Lexus Fanatic
iTrader: (1)
Sell it and keep the money. Put it in the savings and use them if you decide to purchase the car at the end of the lease or downpayment for a new car than.
If your car is totaled or stolen during the lease you just lost $14000
The vehicle is not owned by you - you're just "renting" it from a leasing company. Your insurance company has no obligation to pay you for any money you lost as a down payment.
If your car is totaled or stolen during the lease you just lost $14000
The vehicle is not owned by you - you're just "renting" it from a leasing company. Your insurance company has no obligation to pay you for any money you lost as a down payment.
Put down $0 or the least you can.
#67
Not a chance in Hell he got $184 a month even with a 14k trade in unless he put a ridiculous amount down for a lease.
I decided I was done with buying vehicles and all their related unexpected expenses and lack of equity. I received $7500 on my trade in and, with the lowest rate possible and a very good purchase price, am paying $380 for a loaded 350 F-Sport AWD.
I decided I was done with buying vehicles and all their related unexpected expenses and lack of equity. I received $7500 on my trade in and, with the lowest rate possible and a very good purchase price, am paying $380 for a loaded 350 F-Sport AWD.
#68
Sell it and keep the money. Put it in the savings and use them if you decide to purchase the car at the end of the lease or downpayment for a new car than.
If your car is totaled or stolen during the lease you just lost $14000
The vehicle is not owned by you - you're just "renting" it from a leasing company. Your insurance company has no obligation to pay you for any money you lost as a down payment.
If your car is totaled or stolen during the lease you just lost $14000
The vehicle is not owned by you - you're just "renting" it from a leasing company. Your insurance company has no obligation to pay you for any money you lost as a down payment.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.
#69
How would the insurance company know what I put down on a car? Don't they pay what the value of the car was at the time of the accident or being stolen. Im not sure why I would be out $14,000 right away.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.
#70
How would the insurance company know what I put down on a car? Don't they pay what the value of the car was at the time of the accident or being stolen. Im not sure why I would be out $14,000 right away.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.
If dealer don't want to give you a fair/competitive deal go some where else. I'm not sure if you can lease from CA dealers and return to local dealer but if you can you should contact one of the CA dealers that other members got those great deal from. Good luck!
Last edited by SonyHome; 12-25-13 at 10:26 AM.
#71
Lexus Test Driver
How would the insurance company know what I put down on a car? Don't they pay what the value of the car was at the time of the accident or being stolen. Im not sure why I would be out $14,000 right away.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.
#73
You got scammed big time because you concentrate on the monthly payment rather to negotiate the price and probably that;s how they suggested you to trade in the car. You also probably don;t have a good credit either. You were a easy victim for those dealers who love ppl like you. No way in hell a lease for a fully loaded IS350 can get that high. I would go back and try to renegotiate the deal just like others suggested.
Also IS 350 F Sports are hard to come by in the Northeast which makes it hard to deal for one, IS 250 are a dime a dozen but didn't want one. Maybe the 350s are more available in warmer climates and you can deal better for them, I don't know.
#74
If you are able to renegotiate or cancel this you should. Others on the forum have been able to get IS350 F Sport for ~ $450/month or less with ~$500 down on a ~27 month lease. Also there is DTR sale that gives you first month free. I get the impression you are stretching to buy this car and you really should negotiate little harder to get it for better price. Also use the $14000 to buy down the money factor since you get that back at the end of your lease and lowers your payment and put the rest in the bank or investment.
If dealer don't want to give you a fair/competitive deal go some where else. I'm not sure if you can lease from CA dealers and return to local dealer but if you can you should contact one of the CA dealers that other members got those great deal from. Good luck!
If dealer don't want to give you a fair/competitive deal go some where else. I'm not sure if you can lease from CA dealers and return to local dealer but if you can you should contact one of the CA dealers that other members got those great deal from. Good luck!
#75
Lexus Fanatic
iTrader: (1)
How would the insurance company know what I put down on a car? Don't they pay what the value of the car was at the time of the accident or being stolen. Im not sure why I would be out $14,000 right away.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.