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07-23-2013, 02:05 PM | #29 |
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08-04-2013, 10:24 PM | #30 |
Detroit Region, MI
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Drives: 13 BRZ, 13 Volt, 02 WRX
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I've done the lease to buy before... wasn't intending on it originally but decided to instead of paying my mileage that I was over... and I liked the car so it was fine. Here are a few things to know though if you like this route:
1) Your interest rate will be renegotiated after the lease term is up, so who knows where those will be and what they will offer you 3 years or so from now. 2) Leases are incredibly difficult to get out of without hurting you credit wise in the event of a lost job/reduced income/other financial burden. Basically the only way to get out of it is to find someone willing to take over your lease... and if you are over on mileage because you were planning on buying it out, chances are you will have no takers. Otherwise you can do early lease turn-ins, but those are usually only offered 3-6 months before the lease is up and valid only if you trade in for another new car, so not super helpful. 3) In the event you decide you don't want this car over the next 3 years... again, you are more or less stuck with it for the lease term. Now you have to consider the mileage you are racking up versus the lease agreement and any damage or abnormal wear (including tirewear) becomes a burden at lease turn-in. If you are dead set this is your dream car you want to keep for 5 years +, by all means, lease to buy is a pretty good deal, #1 becomes the only real risk you take... but if there is any doubt, 2 and 3 become big considerations. I'm on my 3rd leased vehicle right now (the BRZ was a buy, not a lease) and I think in the right circumstances they can be a good way to go.
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2005-06: #192 ES 91 MR2 N/A Hardtop 2007-08: #54 STX 05 WRX Sedan 2009-12: #92 BSP/ASP 07 Solstice GXP 2013-14 : #192 CS 13 Subaru BRZ |
08-12-2013, 03:56 PM | #31 |
There are now 2 carseats!
Join Date: Nov 2012
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e36 m3...I'm selling one
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