They take trades on leases. You should be able to roll over the extra 1k but I’d check out the “money factor”. That’s basically the interest rate. Might not be worth it. Cool thing about trading in on a lease is the value of your trade will probably offset the total cost of a 3 year lease so you’d pay no tax on it…
I’m not following, how so? thanks joe
btw, did you take a lease over? Or did you get the truck new? How do things like maintenance and break downs go for leases?
What kind of damage is acceptable for a lease trade-in? are you responsible for rock chips and light scratches and such?
Maintenance is on you but the car still has a warranty as if you bought it new. As far as the wear and tear, it depends. My cousin and his family have been going through this one guy for YEARS, everyone of their families cars is a lease. When he turned in his last Envoy I said you are going to get BONED on wear and tear. But, because he has leased about 10 cars there and everyone in his family, plus he was leasing another one right then and there, they let it all slide. Thats what I would worry about, some anal person like me would notice EVERYTHING when I went to turn one in and I’d be screwed.
When you lease, you pay tax on the sum of your monthly payments plus your down payment. You can deduct the price they give you for your trade-in, similar to if you were trading in and buying new. Say you get a payment of 400 a month for 36 months, that’s $14,400. if you got that on a trade in, you’d pay no tax.
I took a lease over on my GTO. I leased the truck new. They don’t charge you for “everyday wear and tear.” There’s a little square they give you that tells you how big scratches and dents and interior rips and burns and such can be. Anything bigger you gotta take care of before you turn it in.
what about a base wrx, they start at $24,995, with a few g’s down and low % it should be right around 400 a month
Lease is probably a horrible idea for you because you want to change cars every year. Once you sign that lease you’re stuck with it for the term. Sure, there’s leasetrader.com and similar sites, but the only cars that move there are the ones where the owner is taking a huge hit.
Even now, you’re saying, “I don’t know what I want, just want another car”. WTF? In the credit score thread you admitted yours wasn’t good. Here’s an idea… stop trading cars like they’re boxer shorts. Unless you’re buying used, paying cash, and getting a great deal it’s almost always a horrible financial decision to change cars every year or two. All you’ve paid in that first year or so of the loan is interest and then you’re starting all over again.
If you can really see yourself holding on to a car for 3 year a lease is probably a good idea, but with your low fico score and the huge cuts in banks willing to lease your chances of getting a great deal lease have gone down considerably.
1992 Ford Tempo One payment ~$400 bucks
Perfect
Lame
^^^
multiple personality disorder?
ya know, you’re probably right. I just look at the goat and don’t see myself hanging onto it for another 3 years. just getting bored with it I guess
my credit isn’t bad, but it’s not perfect either. You do make a good point about banks giving credit these days though. Shit, maybe re-financing it and picking up a project is the way to go
win win?
i’ve seen higher mileage 350zs going in the 12k-14k range.
audi tt, s4, e46, rx8, s2k, m roadster/coupe, volvo s60r, vw gti, mazdaspeed3, etc…i could see any of those cars with a payment under 400 under the right circumstances, it’s all about what you’re looking for
Get a scion TC they pretty much suck… might as well have a shitty DD
Yeah, I think a project car is in my future. Older 3 series, maybe an 80’s Mustang. Pay cash for it, mod it anyway I want, thrash the living piss out of it at any autocross/track day I want to go to and if it dies tow it home and fix it. Keep the GTO as my fun DD.
I know the feeling about wanting a new car though. My Expedition is paid off now, just hit 73k, and the bug has really hit me to trade it. The crazy deals on SUV’s right now isn’t helping. I saw an 05 Murano AWD with 29k for $14500. Financially I know keeping the Expedition is the smarter move though. Doesn’t help that my neighbor and three friends just got new SUV’s either.
lol
it’s gotta be nice not having a car payment though
buy um with cash then!
Yeah, last weekend I detailed the thing top to bottom, even masked off the rear end of it and repainted the big class 3 hitch that was getting a bit rusty and looking like shit. It still isn’t a new Murano, but it looks nicer in the driveway than it did.
Steve, you still live in WNY right?
For christ sake, I couldn’t see driving anything RWD in the winter anymore…
I’m putting dedicated snows on my POS econobox.
I’ve always driven/owned RWD cars in the winter so I’m pretty used to it. Ironically enough, the only real accident I’ve even been in (via the weather) has been a FWD
Remember the drive back from Rochester in the mustang during that freak blizzard? hahaha bald ass summer tires and the second day of ownership
edit: actually it hadn’t even been 24 hours
A Murano??? Not many SUV’s look appealing to me but the Murano is HIDDEOUS, keep the paid off Expedition. 73K miles is nothing, plus, you will get HOSED trying to sell it/trade it in, I vote for keeping it.
Wait about 3 or 4 months and you will be able to get just about anything you want.