My buddy just leased a Nissan Versa...

[Scouzer]

He's nuts. He got a horrible price on it, I feel badly for him.

These numbers are translated from CAD to USD for your convenience. They are not directly comparable, but close enough...

The details:

Lease for 48 months @ 5% : $355 USD/mo

He is intending to buy it out at the end of the lease...so total cost... after the buyout...is roughly $24,100 USD. Don't quote me on the total cost here, I'm estimating based on his lease payment.

Ouch.

 

[imported_Mike]

Why would anyone lease a car? I can see just 1-2 unique situations where leasing would be the right thing to do. In general, people who lease cars are just retarded.

 

[ForumMaster]

Nissan Versa! looks like an ok car from heroes!

jk

i agree with Mike. leasing is stupid.

 

[Nutdotnet]

Originally posted by: ForumMaster
Nissan Versa! looks like an ok car from heroes!

jk

i agree with Mike. leasing is stupid.

Have you ever done any research on leasing?

For some it's a great option...this situation certainly doesn't sound like one of those times though...why lease such an inexpensive vehicle?

 

[Scouzer]

He couldn't afford over a $400/mo CAD payment...so he says. Not that I agree.

 

[Synomenon]

$24K after buyout huh. I would have gone with a Prius or even a little Yaris.

 

[HiTek21]

that salesman must have blown a lot of smoke up his rear to get him to sign for that price.

 

[RaistlinZ]

Some salesman just laughed himself to the bank on that one.

 

[Scouzer]

The salesman was a she...

 

[rqle]

if your good, leasing a car and buying it out at the end can be cheaper.

my lease on a 2007 accord SE end buy total 19.3k and calculated APR to be 1.9. IF i were to buy the car, all dealership wanted at lease invoice 20.5k at 3.9 to 4.9 APR which is still a good APR rate to buy, not not as low as the lease APR if you calculate it.

Take into account you dont have to deal with $5000+ down, where you can get a return investment an easy 8-9%, or any 8-year old 5.5% account.

We're not all retarded.

 

[DivideBYZero]

It's an ugly Renault Clio.

 

[RossMAN]

Wow did he get reamed.

For that price he could own a Nissan Altima.

 

[Corporate Thug]

Originally posted by: Mike
Why would anyone lease a car? I can see just 1-2 unique situations where leasing would be the right thing to do. In general, people who lease cars are just retarded.

why is that? there are people who want to switch cars every two to three years without having the hassle of selling their current ride.

 

[imported_Mike]

Originally posted by: Corporate Thug

Originally posted by: Mike
Why would anyone lease a car? I can see just 1-2 unique situations where leasing would be the right thing to do. In general, people who lease cars are just retarded.

why is that? there are people who want to switch cars every two to three years without having the hassle of selling their current ride.

It's a waste of money. If you have money to waste, then go for it. My guess is that if you're looking at a versa...you don't have money to waste.

 

[sniperruff]

Originally posted by: Mike
Why would anyone lease a car? I can see just 1-2 unique situations where leasing would be the right thing to do. In general, people who lease cars are just retarded.

i usually see BMW has $349/month, 36 month leases for the 3-series... i think that's a pretty good deal...

 

[imported_Mike]

Originally posted by: sniperruff

Originally posted by: Mike
Why would anyone lease a car? I can see just 1-2 unique situations where leasing would be the right thing to do. In general, people who lease cars are just retarded.

i usually see BMW has $349/month, 36 month leases for the 3-series... i think that's a pretty good deal...

Maybe if you're in an industry where a nice car is a plus. Other then trying to live beyond your means to impress people, why on earth would you lease a bmw? Like I said, if you have a lot of money to burn, then go for it. It sure is fun to change cars every 2 or 3 years.

 

[mrSHEiK124]

2007 Nissan Altima 3.5 SE: $25,000.63 (including TTL and everything else)

Your friend got pwnt.

 

[Anonemous]

when you lease don't you also have to get maximum coverage for auto insurance as well?

 

[Dunbar]

Originally posted by: Mike
Maybe if you're in an industry where a nice car is a plus. Other then trying to live beyond your means to impress people, why on earth would you lease a bmw? Like I said, if you have a lot of money to burn, then go for it. It sure is fun to change cars every 2 or 3 years.

Some people have the means to buy a BMW, and they are very highly regarded in the automotive press (in case you weren't aware). Plus, BMW has probably the best lease deals in the industry.

 

[Dunbar]

Originally posted by: Anonemous
when you lease don't you also have to get maximum coverage for auto insurance as well?

You need comprehensive, but who in their right mind wouldn't get comprehensive on a new car?

 

[thomsbrain]

you can lease an accord for $199/month. your buddy got asspwned.

 

[TruePaige]

if you lease a car and don't buy it out, they have a billion little ways to stiff you at the end of your lease. =/

I thought about leasing a new VW, and then realized it's only a lil' change more to just buy a damn car, so I decided just to wait and give a DP and buy one.

Leasing = Boning waiting to happen.

 

[chris7b]

Originally posted by: Mike

Originally posted by: sniperruff

Originally posted by: Mike
Why would anyone lease a car? I can see just 1-2 unique situations where leasing would be the right thing to do. In general, people who lease cars are just retarded.

i usually see BMW has $349/month, 36 month leases for the 3-series... i think that's a pretty good deal...

Maybe if you're in an industry where a nice car is a plus. Other then trying to live beyond your means to impress people, why on earth would you lease a bmw? Like I said, if you have a lot of money to burn, then go for it. It sure is fun to change cars every 2 or 3 years.

Leasing a BMW wouldn't be soo bad. 0 out of pocket cost with their maintenance program

 

[Tiamat]

ouch, thats almost like double cost of buying new

 

[SZLiao214]

Was it blue? just like the magazine?