jehamilton_98

$432.86. I paid $0 down. 42 mo. 15000 miles a year.

BTW. I lease only because I get a new car every 3 years. I've been doing it since the mid 80's and I have never had a problem with it.

Nexx

iTrader: (41)

i guess im the only who buys a car to keep it for awhile? last car i paid off in 4 years and enjoyed driving it for another 3 and sold it for 8k. paid 24k for it. i think i did ok.

sigsauer87

iTrader: (3)

The lease thing kind of confuses me though...these are the questions I have about it:

1.) Do they run your credit? Because it seems as if theres no APR or anything involved with leasing.

2.) So are you actually financing the car or are you renting it?

3.) And also, can you trade in the car anytime or only when your lease agreement is up?

Thats the only questions I have...sorry if I'm a caveman about this stuff...

Gman2004

iTrader: (8)

yes they run your credit and yes their is an APR. I will explain later.

You are basically renting with the option to buy. What you pay is what the car will depreciate over the amount of time you lease. Lets say $30K car will be worth $20K 3 year later then you are going to finance $10K. Depending on the APR you get is what the total amount you will pay. At the end of the 3 years you have the option to buy and pay the $20K you saved over the lease period.

You can always trade in the car before the lease is up, but more than likely you're going to get fuked with negative equity.

stevem

1) Yes, they underwirte it just like a conventional car loan.

2) You are renting it, but you still have a balance owed, a lease factor and it will be reported to the credit bureau just like a regular loan.

3) You can trade the car anytime, the buying dealership would have to pay off the lease balance.

sigsauer87

iTrader: (3)

Hmm...soo...typically...What would be good credit to get a lease...is a score of 673 pretty good? Seems to me as if leasing is better in some ways...but in other ways its not haha...