YACT: Who leases?

[Jeraden]

I'm leasing now and my lease is up in a few months. What bites you in the butt on leases is the "hidden costs" that you don't really think about up front.

There is usually some lease turn-in fee if you don't buy the car when the lease is up. Thats about an automatic $250 payment for nothing really. Its supposedly to make up for the cost they'll incur in selling the car and cleaning it or something. Bogus charge if you ask me.

New Tires. Chance are you are going to need 4 new tires when you turn the car in, at least with a 3 year lease. They usually require a minimum tread depth of 1/8", and yours will most likely be under that after that amount of miles, although the car would still pass inspection. So you are basically buying brand new tires (or used ones I guess) just to turn the car in and never even get to use them. Depending on the car, this can be quite costly, for mine it ran me around $500.

I also have a chip in my windshield, and it sounds like I'm going to have to pay to get a whole new windshield, even though there is nothing technically wrong with it. I haven't gone in for the pre-turn-in inspection yet, but based on the turn-in material they sent me, any chips/cracks in the windshield are unacceptable. So thats like another $300.

 

[91TTZ]

Some people are superficial. They are hollow shells of human beings. Everything that they own must be flashy, and they'd rather go into debt flaunting the latest bling than actually having modesty and money in the bank.

 

[chowmein]

how much are your annual insurances for leasing?

 

[dirtboy]

Originally posted by: Skoorb

Originally posted by: radioouman

Originally posted by: DougK62
My brother is a financial advisor, and he leases because it makes a good impression on his clients. He says that when you are in charge of large sums of peoples money it gives them a bit of comfort to see you driving up in the latest bling instead of a four year old Civic.

I always hated that around people that deal with money all day. Realtors are another one. I picked my last realtor based on his car. He drove a couple year old Ford Taurus. You can go f*ck yourself if you are going to try to sell me a house and you drive a Lexus or Mercedes. I want nothing to do with you. I will give that 3% or 6% to a person that truly deserves it, not someone who just uses it to show off.

I kind of have the same impression. It depends on the job, I guess. With a realtor, if I've got some woman who can barely spell properly driving around in a brand new full size lexus, and people like me are paying for that, I'd rather not.

People want to deal with people who are successful. A business person can show their success by their office, their clothes and their car. Perception is everything and it works.

 

[CraigRT]

I'm probably going to lease my next car.

lower payments and new car more often is all I care about.

 

[DougK62]

Originally posted by: dirtboy

Originally posted by: Skoorb

Originally posted by: radioouman

Originally posted by: DougK62
My brother is a financial advisor, and he leases because it makes a good impression on his clients. He says that when you are in charge of large sums of peoples money it gives them a bit of comfort to see you driving up in the latest bling instead of a four year old Civic.

I always hated that around people that deal with money all day. Realtors are another one. I picked my last realtor based on his car. He drove a couple year old Ford Taurus. You can go f*ck yourself if you are going to try to sell me a house and you drive a Lexus or Mercedes. I want nothing to do with you. I will give that 3% or 6% to a person that truly deserves it, not someone who just uses it to show off.

I kind of have the same impression. It depends on the job, I guess. With a realtor, if I've got some woman who can barely spell properly driving around in a brand new full size lexus, and people like me are paying for that, I'd rather not.

People want to deal with people who are successful. A business person can show their success by their office, their clothes and their car. Perception is everything and it works.

Exactly what I was going to say. I'd gladly take the realtor that drives a fancy Lexus. All I want to do is buy/sell the house - if someone can afford to buy a Lexus from helping people do that, then it makes it look like they're really good at what they do.

 

[radioouman]

Originally posted by: DougK62

Originally posted by: dirtboy

Originally posted by: Skoorb

Originally posted by: radioouman

Originally posted by: DougK62
My brother is a financial advisor, and he leases because it makes a good impression on his clients. He says that when you are in charge of large sums of peoples money it gives them a bit of comfort to see you driving up in the latest bling instead of a four year old Civic.

I always hated that around people that deal with money all day. Realtors are another one. I picked my last realtor based on his car. He drove a couple year old Ford Taurus. You can go f*ck yourself if you are going to try to sell me a house and you drive a Lexus or Mercedes. I want nothing to do with you. I will give that 3% or 6% to a person that truly deserves it, not someone who just uses it to show off.

I kind of have the same impression. It depends on the job, I guess. With a realtor, if I've got some woman who can barely spell properly driving around in a brand new full size lexus, and people like me are paying for that, I'd rather not.

People want to deal with people who are successful. A business person can show their success by their office, their clothes and their car. Perception is everything and it works.

Exactly what I was going to say. I'd gladly take the realtor that drives a fancy Lexus. All I want to do is buy/sell the house - if someone can afford to buy a Lexus from helping people do that, then it makes it look like they're really good at what they do.

Modesty is what works. Perception works for a while, it is a time bomb.

 

[91TTZ]

Originally posted by: DougK62

Exactly what I was going to say. I'd gladly take the realtor that drives a fancy Lexus. All I want to do is buy/sell the house - if someone can afford to buy a Lexus from helping people do that, then it makes it look like they're really good at what they do.

The problem is that once you look into the issue a little deeper than face value, you quickly see that everyone can put up a front, but not everyone can back it up. Anyone can lease a BMW, even people that live in the projects. You're falling for the thin fascade and you can't see through it. You might see a successful businessman, while I see an imposter with poor money management skills.

I've known people who are all into image. It does not mean that there is substance to back it up. It just means that they spend their energy keeping up a front.

 

[Doggiedog]

Originally posted by: 91TTZ

Originally posted by: DougK62

Exactly what I was going to say. I'd gladly take the realtor that drives a fancy Lexus. All I want to do is buy/sell the house - if someone can afford to buy a Lexus from helping people do that, then it makes it look like they're really good at what they do.

The problem is that once you look into the issue a little deeper than face value, you quickly see that everyone can put up a front, but not everyone can back it up. Anyone can lease a BMW, even people that live in the projects. You're falling for the thin fascade and you can't see through it. You might see a successful businessman, while I see an imposter with poor money management skills.

I've known people who are all into image. It does not mean that there is substance to back it up. It just means that they spend their energy keeping up a front.

You have to remember its a service industry. Would you rather have them drive you around to different homes in a beat up car which smells like smoke or a nice car they take car of?

 

[DougK62]

Originally posted by: 91TTZ

Originally posted by: DougK62

Exactly what I was going to say. I'd gladly take the realtor that drives a fancy Lexus. All I want to do is buy/sell the house - if someone can afford to buy a Lexus from helping people do that, then it makes it look like they're really good at what they do.

The problem is that once you look into the issue a little deeper than face value, you quickly see that everyone can put up a front, but not everyone can back it up. Anyone can lease a BMW, even people that live in the projects. You're falling for the thin fascade and you can't see through it. You might see a successful businessman, while I see an imposter with poor money management skills.

I've known people who are all into image. It does not mean that there is substance to back it up. It just means that they spend their energy keeping up a front.

I'm not saying that it works on me - just that it does work on a lot of people. In general, a realtor is going to seem more attractive and inspire more confidence in their clients if they drive a nice car.

 

[gscone]

Own my E55 Benz, lease the QX56 truck..

 

[boomerang]

Originally posted by: chowmein
how much are your annual insurances for leasing?

They should be no different except for one thing. You may find yourself carrying a larger amount of liablility coverage. As you don't own the vehicle, the lessor will require it. If you get yourself in a situation where there is a lawsuit, they will be held responsible also as titleholders.

As you get older and begin to accululate some wealth, you start to realize that this higher liability coverage is not such a bad thing. One mistake could cost you everything.

 

[boomerang]

Originally posted by: Jeraden
I'm leasing now and my lease is up in a few months. What bites you in the butt on leases is the "hidden costs" that you don't really think about up front.

There is usually some lease turn-in fee if you don't buy the car when the lease is up. Thats about an automatic $250 payment for nothing really. Its supposedly to make up for the cost they'll incur in selling the car and cleaning it or something. Bogus charge if you ask me.

New Tires. Chance are you are going to need 4 new tires when you turn the car in, at least with a 3 year lease. They usually require a minimum tread depth of 1/8", and yours will most likely be under that after that amount of miles, although the car would still pass inspection. So you are basically buying brand new tires (or used ones I guess) just to turn the car in and never even get to use them. Depending on the car, this can be quite costly, for mine it ran me around $500.

I also have a chip in my windshield, and it sounds like I'm going to have to pay to get a whole new windshield, even though there is nothing technically wrong with it. I haven't gone in for the pre-turn-in inspection yet, but based on the turn-in material they sent me, any chips/cracks in the windshield are unacceptable. So thats like another $300.

Most people are not aware that a lot of these costs are negotiable. And folks, cars aren't selling real well right now and it's the perfect time to negotiate. Another thing most people don't know is that your lease payment can vary from dealer to dealer. They would like you to think that a lease results in a fixed price, but that is an out and out lie. Check with your Credit Union if you are a member. You may be able to lease through them for less.

As an employee of a major automotive manufacturer, I of course lease their products. There are no fees at the end of their leases. I also live in a highly populated, very competitive car market. This may keep some of these BS fees in check.

I have had to replace a windshield once. I've learned to keep full glass coverage on my cars. Also, if you do get a star break or the like, ASAP look into getting it repaired. Most insurance companies will cover this repair 100%.

If you get nailed on tires, put on the absolute cheapest you can.

 

[Telgin]

Check out http://www.leaseguide.com
You'll be an expert in no time!!!!

Joe

 

[aircooled]

I put way too many miles on cars to do it....