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Old 06-30-2011, 04:54 PM   #1
Starbright
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Does anyone lease their vehicle?

Hi!
The car saga continues for us. We got our car appraised at Ford and found out that they won't give us much at all.....$3000 less than Toyota. I was sooo upset We figured Mazda would hold its value longer. So, now we are looking at a 2010 Prius. We are considering leasing it. It is cheaper and then we don't have to worry about resaleing it afterwards with all the hastles we have had with our cars. Anyone lease it? They give us 24000 Kms a yr. I figure I go about 1000 kms in a mth so that is plenty.
Just wondering if you have done this?????? I know it isn't ours in the end and it is like renting a house, but after trying to trade in a car and resale it, you take such a huge hit as it is.

Thanks everyone.
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Old 06-30-2011, 07:20 PM   #2
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I think leasing is a reasonable option if you 1. don't drive much and 2. don't mind always having a car payment.

We leased once and ended up buying the vehicle because we at least doubled out allowable miles. We need to drive to get anywhere and put miles on like there's no tomorrow. I have decided buying used is the best option for me because after 2 years, I am close to 100K.
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Old 06-30-2011, 07:28 PM   #3
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I leased once years ago because I couldn't afford to buy it up front (it was a brand spanking new car, barely even driven off the lot because it had something like 10 miles on it I believe). The monthly amount was something I could afford and being a teenager at the time, I didn't really know if I wanted to keep the car after my 2 years was up. I did decide to keep it and got a used car loan for whatever the term was (I don't remember what it was now) and didn't regret going that way. Since then, I've only been able to get used cars so I don't know if leasing now is strictly leasing or still leasing to own. Good luck deciding.
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Old 06-30-2011, 08:32 PM   #4
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We leased once and ended up buying the vehicle when our lease was up. We have a tendancy to keep our vehicles forever. My dh says we drive them till they won't go anymore!
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Old 06-30-2011, 08:48 PM   #5
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Yes. It's a business decision. The accountant tells us to do so. We "buyout" the car at the end of the 3yrs and sell it then lease another new vehicle. We never have maintenance issues, we know the monthly costs and we never worry about rust (we live very close to the beach). Perfect for us!
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Old 06-30-2011, 10:06 PM   #6
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I have not personally because I put too many miles on a vehicle to lease; plus I avoid car payments- I buy with cash and drive it till it doesn't drive anymore. BUT- if I were looking at a car payment and I didn't put a lot of miles on it; I could see where it would be a viable option.... So, if it works for you- go for it!
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Old 06-30-2011, 11:43 PM   #7
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Thanks everyone!!!!!!!
The Toyota guy called me and told me that they change their rates tomorrow, so went ahead to start the financing so that we could atleast get it at the low interest rates if we choose to since tomorrow is a holiday. It isn't our favourite colour-grey but we couldn't get a blue one...oh well.
I drive 35 kms one way to town. Figuring extra kms, it would be 100 kms round trip.
We have had such terrible luck with trying to sell cars out here. Tired of it. So atleast they can have it back at the end. I figure that a Prius would be the best bet. I am concerned about how cold it gets in the winter and if the car will stay heated. We have been warned that it won't get the good gas mileage like it does in the summer,but even its bad gas mileage is still better than what we are getting now.
Trying to get ahold of our accountant to see what he thinks about the leasing but he is gone on holidays as most people are here. Tigger71,that is a great way to do it and I am sure we could do something like that too being in Canada.
Can you roll the kms from one yr to another when leasing??????

Thanks everyone. THis fits for us. I think we are going to do it
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Old 07-01-2011, 01:31 AM   #8
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I forgot to add - the lease option we chose was for 'unlimited kms(miles)' and the 'buyout' amount is a set figure decided on the state car organization (think AAA or RAC).
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Old 07-01-2011, 01:45 AM   #9
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We're doing it on our current car for the first time. So far, so good. The lease runs out next September and then we either pay the outstanding to keep the car or get a new one. We went for 63,000 miles on it, as I do a lot of miles going to and from work and I'm only up to about 35,000, which puts me way under that.
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Old 07-01-2011, 08:01 AM   #10
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I would not be able to do it. I put a lot more mileage on my car than a lease would allow for. Plus we tend to keep cars for 5-10 years and getting even something back from it when buying the next time is worth it to us. (I have to admit that it hurt to only get $1900 for my van a few years back though....it was still a really good vehicle).
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Old 07-01-2011, 08:23 AM   #11
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We have leased in the past but haven't seen any good deals on what I like so the we have purchased our last few cars. Leasing is not bad if you can get a low enough monthly payment. A lot of dealers advertise a low payment but in the fine print it says you have to have a large down payment. You also need to be aware of how much you drive. It can get very expensive if you exceed the alotted miles. You also have to pay for any damage to the vehicle and for tires if they are worn more than the allowed amount when turning the vehicle in.
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Old 07-01-2011, 08:44 AM   #12
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My dd plays travel ice hockey so I put too many miles on my car in a year to lease. It is a cheaper option and if yo don't mind handing it in at the end and leasing another one which mean continuous car payments it would be a good deal
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Old 07-01-2011, 08:54 AM   #13
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One other thing...You have the option of purchasing the vehicle at the end of the lease. If you plan on doing this it is usually better to purchase it up front and not lease. When you figure what you would pay for the lease then the purchase its usually much higher.
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Old 07-01-2011, 10:14 AM   #14
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We live out in the country, so I want something with a warrenty and it seems as though we have been bouncing from one car to another alot. I don't like having a vehicle that isn't reliable.
We like the 24000 kms we get per yr. Will have to look at the fine print but so far, it looks good.
Lots of options but it appears pretty good.
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Old 07-01-2011, 05:51 PM   #15
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O.k, we have this one woman looking at our car now (still listed on kijijii or however you spell it) and she is strange. After this experience I think we will lease so I don't have to sell one again Ugh. I feel sorry for the salemen if they have to put up with this.
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