Finance or Lease a LS 460L?
11-29-06, 12:25 PM
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Finance or Lease a LS 460L?
Hello everyone,
I've been reading posts on the forum this weekend after I went to Cerritos Lexus to check out the LS. I fell in love with the 460L because I think the longer version looks much better. Is it just me?
My question is, I am currently leasing a 350Z for about $600 a month with a year and a half remaining. I am also financing a 02 Escalade which I owe about 27K and was offered 20k as a trade in at a Cadillac dealership when I was considering the new 07 model. Ideally I would want to get rid of the 35)Z first if possible.
What is the best option without losing too much money? I only plan on keeping the LS for atleast 3 years but no more than 4 I guess since I noticed I like switch cars. Should I lease? Or should I finance and by the time I pay off 3 years will I be breaking even?
I hope someone can help me out and thanks again.
I've been reading posts on the forum this weekend after I went to Cerritos Lexus to check out the LS. I fell in love with the 460L because I think the longer version looks much better. Is it just me?
My question is, I am currently leasing a 350Z for about $600 a month with a year and a half remaining. I am also financing a 02 Escalade which I owe about 27K and was offered 20k as a trade in at a Cadillac dealership when I was considering the new 07 model. Ideally I would want to get rid of the 35)Z first if possible.
What is the best option without losing too much money? I only plan on keeping the LS for atleast 3 years but no more than 4 I guess since I noticed I like switch cars. Should I lease? Or should I finance and by the time I pay off 3 years will I be breaking even?
I hope someone can help me out and thanks again.
11-29-06, 12:39 PM
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If you like to change cars, then lease. More so if you are young.
I have leased my last 4 cars. I have never made it to lease end. I break my lease and end up paying through the nose.
This time I decided to buy. With all the reading and praises the LS "L" received I decided to try to purchase. If I can keep it for 4 years, I think I will do good.
Time will tell.
I have leased my last 4 cars. I have never made it to lease end. I break my lease and end up paying through the nose.
This time I decided to buy. With all the reading and praises the LS "L" received I decided to try to purchase. If I can keep it for 4 years, I think I will do good.
Time will tell.
11-29-06, 12:47 PM
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I leased my 350Z thinking I was going to keep it for the whole time, etc but things change. My main concern is lowest payment soultion while losing the least amount of money on the trade.
If its too expensive, I guess I can just stay in the situation I am in now. I just wonder if the cars I have, well atleast the escalade, is depreciating faster than I'm paying it off and just better to get rid of now.
If its too expensive, I guess I can just stay in the situation I am in now. I just wonder if the cars I have, well atleast the escalade, is depreciating faster than I'm paying it off and just better to get rid of now.
11-29-06, 01:03 PM
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There is NO way you can break even or make money on this.
I found a nice place you may want to look into. It is called Leasetrader.com
It is a website that people with leases trade there lease. Check it out. You may find someone that will take over your lease.
Mercedes told me I could do it, but I was still ultimately responsible for the car. That is why I did not do it. If Cadillac lets you do it, it might be a good thing for you.
There is also something called an "incentive" Let's say your monthly lease is $600.00. You could give them a $50.00 per month "incentative" meaning you would pay them $50.00 per month for the remainder. He pays $550.00 and you pay $50.00. This way he gets a break and it only costs you $50.00 per month for the remainder of the lease. That was the way I was going to go. I believe you give them the car and the money and they you are done with the lease. Anyway, check it out. It may be the way to go without loosing so much.
I found a nice place you may want to look into. It is called Leasetrader.com
It is a website that people with leases trade there lease. Check it out. You may find someone that will take over your lease.
Mercedes told me I could do it, but I was still ultimately responsible for the car. That is why I did not do it. If Cadillac lets you do it, it might be a good thing for you.
There is also something called an "incentive" Let's say your monthly lease is $600.00. You could give them a $50.00 per month "incentative" meaning you would pay them $50.00 per month for the remainder. He pays $550.00 and you pay $50.00. This way he gets a break and it only costs you $50.00 per month for the remainder of the lease. That was the way I was going to go. I believe you give them the car and the money and they you are done with the lease. Anyway, check it out. It may be the way to go without loosing so much.
11-29-06, 01:16 PM
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There is NO way you can break even or make money on this.
I found a nice place you may want to look into. It is called Leasetrader.com
It is a website that people with leases trade there lease. Check it out. You may find someone that will take over your lease.
Mercedes told me I could do it, but I was still ultimately responsible for the car. That is why I did not do it. If Cadillac lets you do it, it might be a good thing for you.
There is also something called an "incentive" Let's say your monthly lease is $600.00. You could give them a $50.00 per month "incentative" meaning you would pay them $50.00 per month for the remainder. He pays $550.00 and you pay $50.00. This way he gets a break and it only costs you $50.00 per month for the remainder of the lease. That was the way I was going to go. I believe you give them the car and the money and they you are done with the lease. Anyway, check it out. It may be the way to go without loosing so much.
I found a nice place you may want to look into. It is called Leasetrader.com
It is a website that people with leases trade there lease. Check it out. You may find someone that will take over your lease.
Mercedes told me I could do it, but I was still ultimately responsible for the car. That is why I did not do it. If Cadillac lets you do it, it might be a good thing for you.
There is also something called an "incentive" Let's say your monthly lease is $600.00. You could give them a $50.00 per month "incentative" meaning you would pay them $50.00 per month for the remainder. He pays $550.00 and you pay $50.00. This way he gets a break and it only costs you $50.00 per month for the remainder of the lease. That was the way I was going to go. I believe you give them the car and the money and they you are done with the lease. Anyway, check it out. It may be the way to go without loosing so much.
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