I agree with this and regardless of the deal you got, if you are happy, then that is what counts. These are fabulous vehicles and you should have a worry free 3 years. Keep us posted as to how the vehicle performs for you.

 

Nope, still not a good idea to lease a used car. Just doesn't make any sense. I think you know that. You must have another reason for doing the lease which we are not purvey to. At the end of the day, you're going to do what you want and we can't give you any warm fuzzies to help you believe this is good. I think if you have to ask, you already know this may not be a good idea. Enjoy the car though, post pics too!

 

Hey guys thanks for all the responses. I haggled the salesperson to $548.00 a mouth instead. Do you think that is a better deal now? I think I might close on it tomorrow? I am leasing because a finance on this vehicle would be around 800-900 for 60 months and I don't want to pay that much.

Thanks.
-Max

 

Max, after the lease ends in 36 months, what are you going to be spending for the next 24 months?

Do a google search for buy/lease comparison worksheets, there are several out there. Once you plug in the numbers every one of them will show that leasing is more expensive.

Now some poeple lease anyway because in spite of the cost there are other reasons for them to do so, e.g. they like a new car every two years and don't want the hassle of buying and then selling. Other people lease because they can't financially afford to buy the car. You really need to ask yourself if you are overreaching for this car. You might be better suited to buying an ES or RX if the LS is just too much right now.

Just my two cents.

 

never understood the concept of leasing a used car. I'd rather lease a brand new gs350($530/month) than a used LS. How are the lease deals in PA? I know that there are tons of deals around NYC these days....a4, g37s, 328xi, maximas all around $400.

 

Leasing a used car is a bad idea as everyone has mentioned....You could put that $5k down towards $42k and finance the rest which is $37k

Your payments will roughly be $66x for 60 months with 2.9% APR.

 

you mentioned that in post #13 already and people responded after that

and do you realize if you finance for more, and sell it after 2 yrs or so, you probably end up losing less? to be very honest, if the monthly amount is so critical to you, then you are probably stretching too much to own this car.

and like salil said, how do you come up with 800-900 payment on finance, that's very high interest

 

Max, nobody seems to agree with you.

 

Maybe his credit sucks?

 

then 2 things
1) he shouldn't be getting that "good" lease rate then. lease and finance are both run on credits
2) maybe better off build a good credit first