Car Lease v. Buying

[Super Speed]

Sure, because they trade lower interest for higher prices.

Uhm I didn't finance from the place I bought from.

[zale]

All very good points above. Mazal comes into play as well with all these things.
I know someone who kept having problems with used so he finally decided to lease. 5 months In the tranny goes.. Mazal. Honda fixed it no charge though

Just wanted to point out that "tranny" typically has a different meaning than "transmission"... lol. 

[JustaHocker]

Sure, because they trade lower interest for higher prices.

Yup. The old "0% Financing" gimmick.

[MarkS]

Uhm I didn't finance from the place I bought from.

+1
I financed through First Atlantic Federal Credit Union. Their current rate is an insanely low 1.59% for 3 years or 1.75% for 4 years!!!

Borrowing $10,000 for 3 years - a total of $247 in interest.  For 4 years -  $362 interest.
Borrowing $20,000 for 3 years - a total of $494 in interest. For 4 years - $722 interest.

[Super Speed]

+1
I financed through First Atlantic Federal Credit Union. Their current rate is an insanely low 1.59%!!

Borrowing $10,000 for 3 years would cost a total of $247 in interest. Basically a free loan.

Correct I did through them as well!

[Super Speed]

Yup. The old "0% Financing" gimmick.

I guess you didn't read my above post I financed from a regular bank and bought the car somewhere else.

[yossi4k]

Anybody use https://www.truecar.com/? Supposedly it is a crowd-sourced buying guide like Waze is to GPS. Or better yet BetterBidding is to Priceline. But to me it just seems like another USAA Car Buying Guide and American Express Auto Purchasing Network .
My friend just leased the 2014 Infiniti Q50 for $350/month with no money down and on TrueCar it's $434/month with $434 down.

[ushdadude]

So I did lease my car and now I have only 7.5k miles that need to last me for 16 more months. I calculated and at this rate it will cost me about 5k in overage charges 

Any creative ways not to let that happen?

Options I've considered:

• Switch cars w/ DW
• Park  the car and lease another one when miles run out
• The ideal for me would be early lease termination if they would allow it and I would still get full amount of miles

Am I missing anything? Nothing illegal though. Thanks

[Ergel]

   

• Park  the car and lease another one when miles run out

Fool me once, shame on you. Fool me twice, shame on me.

[cozmohoot]

drive in reverse

[skyguy918]

Fool me once, shame on you. Fool me twice, shame on me.

Not if the next lease is a little more realistic, at least 10k/year if not 12k.

[ushdadude]

Not if the next lease is a little more realistic, at least 10k/year if not 12k.

I actually had 15k /year on this lease but i was commuting 100+ miles a day. Now I don't and never want to ever again.

[skyguy918]

I actually had 15k /year on this lease but i was commuting 100+ miles a day. Now I don't and never want to ever again.

Sorry, misread the 7.5 you said you had left for the per year number.

If you're doing that much driving, you almost certainly should not be leasing.

ETA: What's your new commute like?

[ushdadude]

Sorry, misread the 7.5 you said you had left for the per year number.

If you're doing that much driving, you almost certainly should not be leasing.

ETA: What's your new commute like?

Now its 52miles/day but soon to be less (hopefully)

ETA: any time i'm w/ DW we take her car now

[judahk88]

Sorry, misread the 7.5 you said you had left for the per year number.

If you're doing that much driving, you almost certainly should not be leasing.

ETA: What's your new commute like?

Not necessarily a true statement.

[Dan]

I actually had 15k /year on this lease but i was commuting 100+ miles a day.

Didn't you make that calculation when you decided to lease over buy??

[ushdadude]

Didn't you make that calculation when you decided to lease over buy??

I did. I took into account that I was going to get married and move closer to work but it took me longer to find my wife than originally planned . The contingency at the time was to switch cars with my mom if needed. It's still an options but I'd prefer to investigate alternatives.

[theeari]

Call any of the leasing places and they might be able to work out a deal with you. May cost you a bit, but less than your overage fees. (This is from experience. My commute is 55Miles o/w )

[ushdadude]

Call any of the leasing places and they might be able to work out a deal with you. May cost you a bit, but less than your overage fees. (This is from experience. My commute is 55Miles o/w )

Called my guy and he told me it's better to discuss in person...not sure what he has in mind.

[henche]

Call any of the leasing places and they might be able to work out a deal with you. May cost you a bit, but less than your overage fees. (This is from experience. My commute is 55Miles o/w )

Move to boston. My commute is about 4 miles. OTOH, my rent is 55 miles one way.