Big difference in monthly payment
36 month ----> $380
42 month ----> $355
Is 6 months extra that bad?
36 month ----> $380
42 month ----> $355
Is 6 months extra that bad?
Is a 42 month lease bad?
- Thread starter Spooner
- Start date
Yes because it's likely your car will be off warranty so you will be responsible for problems with the car if you get them.
<< how is $25 a month a big difference? >>
you don't think that's a big difference?
$25/month adds up
Are you including the down payment you probably need? That gets spread over 42 months instead of 36 if you go with a longer lease. But, you are adding more time for the car to have problems you would have to fix.
<<Yes because it's likely your car will be off warranty so you will be responsible for problems with the car if you get them. >>
Why is that a problem? It would be no difference if you bought it, you'd still be responsible for repairs after the warranty runs out.
Leasing is good if you're willing to always have a car payment and want to get a new car every few years, AND you aren't going to exceed the mileage.
Buying is good if you're going to keep the car until it's almost paid off OR you can afford to finance short term and take advantage of the low interest rates. (e.g. 0% for 36 months)
If you trade every 2-4 years and don't drive over 15k miles a year, leasing is the way to go.
There aren't many cars that you can buy and finance for 60 months, then turn around a trade it 3 years into the loan and NOT be upside down.
Putting a big downpayment doesn't make any difference because you still lose the money any way you slice it. Big downpayment just means you lost it at the time of purchase, rather than the time of trade.
Why is that a problem? It would be no difference if you bought it, you'd still be responsible for repairs after the warranty runs out.
Leasing is good if you're willing to always have a car payment and want to get a new car every few years, AND you aren't going to exceed the mileage.
Buying is good if you're going to keep the car until it's almost paid off OR you can afford to finance short term and take advantage of the low interest rates. (e.g. 0% for 36 months)
If you trade every 2-4 years and don't drive over 15k miles a year, leasing is the way to go.
There aren't many cars that you can buy and finance for 60 months, then turn around a trade it 3 years into the loan and NOT be upside down.
Putting a big downpayment doesn't make any difference because you still lose the money any way you slice it. Big downpayment just means you lost it at the time of purchase, rather than the time of trade.
HomeBrewerDude
Lifer
- Jan 18, 2001
- 14,465
- 1
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Most cars have a 36 month warranty and leases usually run 36 months. If something goes wrong with the car during the lease period it will still be under warranty. Is that hard to understand?
Look at the total amount you will be paying .....
$1230 extra for the additional 6 months. I'd go with the 36 month choice if you can possibly afford it.
$1230 extra for the additional 6 months. I'd go with the 36 month choice if you can possibly afford it.
<< In all honesty, if $25/month is that critical, either amount is probably too much for you to spend. >>
He stole the words right out of my mouth, if you pause over $25 you're in over your head.
Viper GTS
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