What's the best way out of a lease?

[poison1916]

Originally Posted by BlueDubbinTDI

These were my thoughts too. And I knew I wouldn't go over the milage limit. Question though. Can I trade it in to any Toyota dealer for something else or just the 1 I signed the lease at?

I would go to your dealership but any dealership anywhere would consider a buyout. Expect to lose some cash though unless you're really trading down to a KIA

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[BlueDubbinTDI]

Originally Posted by poison1916

I would go to your dealership but any dealership anywhere would consider a buyout. Expect to lose some cash though unless you're really trading down to a KIA

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No Kias in my future. But yeah, I expect to take it in the ass no matter what Lol

[ashtray]

Originally Posted by BlueDubbinTDI

Solid reply to this thread. Thank you. I do believe I will just stick out the lease at this point and just turn it in at the end. My milage is behind schedule and I put 2k down. yes, hind sight is 20/20 for sure. I'm just glad I learned it on a 26k car instead of a 60k car. These payments aren't the end of the world, they're just irresponsible. But so are most 24 year olds and I wish I wasn't

When I was 20 my parents gave me some money to buy a used car. I bought a low mileage Buick. Sedan. Not even a performance trim. *facepalm* Sometimes being responsible is very over rated! (Now that I'm a parent, I'm buying cars like the Miata and BRZ - go figure!)

[BlueDubbinTDI]

Originally Posted by ashtray

When I was 20 my parents gave me some money to buy a used car. I bought a low mileage Buick. Sedan. Not even a performance trim. *facepalm* Sometimes being responsible is very over rated! (Now that I'm a parent, I'm buying cars like the Miata and BRZ - go figure!)

My parents bought me a $21000 barely used 2005 RSX (automatic base model) for my first car. It raised the bar way too high. That was my situation

[evan]

This is the wrong forum for your question. Only post here if you enjoy ridicule and embarrassment.

[Autocon]

Another obviously problem is your modding your car. If your finding insurance payments of 130 and car payments of 342 too much or annoying financially then why they hell would you start pouring money into modding your car?

Just looking at the list of things you have bought already its an easy 2.5 grand of mods. That is almost 10% of the total value of the car. Think about that for a minute.

I'm not trying to bash you on anything, I am just trying to show you that the financially stupid thing is spending money you don't have on modding a car. So even if you get out of this car with no big loss you have a chance to make the same foolish financial mistakes you made with this one on the next car you buy.

Just food for thought.

[BlueDubbinTDI]

Originally Posted by Autocon

Another obviously problem is your modding your car. If your finding insurance payments of 130 and car payments of 342 too much or annoying financially then why they hell would you start pouring money into modding your car?

Just looking at the list of things you have bought already its an easy 2.5 grand of mods. That is almost 10% of the total value of the car. Think about that for a minute.

I'm not trying to bash you on anything, I am just trying to show you that the financially stupid thing is spending money you don't have on modding a car. So even if you get out of this car with no big loss you have a chance to make the same foolish financial mistakes you made with this one on the next car you buy.

Just food for thought.

I modded because I planned on buying it out, and I don't really spend my money on anything else these days. The only reason I leased is because I wanted that open ended relationship with the car just in case, especially when the new GTI will be out. Won't be going that route anymore either. I never factored in my fiancés future student loans. That was my biggest mistake

[J_kennington]

Originally Posted by BlueDubbinTDI

I modded because I planned on buying it out, and I don't really spend my money on anything else these days. The only reason I leased is because I wanted that open ended relationship with the car just in case, especially when the new GTI will be out. Won't be going that route anymore either. I never factored in my fiancés future student loans. That was my biggest mistake

Seriously on a side note, if you DO turn it back in. Trade me your aftermarket parts for my stock plus cash .

[BlueDubbinTDI]

Originally Posted by J_kennington

Seriously on a side note, if you DO turn it back in. Trade me your aftermarket parts for my stock plus cash .

I dont really need the stock stuff besides 17" tires lol but I'll keep you in mind for some sales

[xrinnenganx]

I really don't see what all the hate about leasing a car is about. I am currently leasing my FR-S and I couldn't be happier. I get cheaper payments during the lease, and I can buy out at the end for the remaining value of the car. I got into my lease deciding that I am going to buy the car afterwards, so why not enjoy the lower payments for 3 years and pay the same if not less the last 2 years? Plus, I'm always under warranty, which is a HUGE plus.

[LXXXV1]

Originally Posted by xrinnenganx

I really don't see what all the hate about leasing a car is about. I am currently leasing my FR-S and I couldn't be happier. I get cheaper payments during the lease, and I can buy out at the end for the remaining value of the car. I got into my lease deciding that I am going to buy the car afterwards, so why not enjoy the lower payments for 3 years and pay the same if not less the last 2 years? Plus, I'm always under warranty, which is a HUGE plus.

Same mentality but we're not necessarily paying the same, and defintely no where near less, as financing.

My lease paperwork shows that if I decide to buy out afterwards, I'd pay roughly $33k total BEFORE interest on the 18k residual, or I can just pay it all up front at lease end. If I were to finance right now, I'd pay $30K otd BEFORE interest. That's a $3k difference.

But I don't think of it like that. I think our generation tends to favor those with cash in hand. I still leased dispite of that bc:

1) smaller monthly payments
2) a limiter to control myself on modding the car too heavily (otherwise I'd have rocket bunnyed her so fast)
3) warranty
4) I know for a fact my car will be worth more than Toyota's "estimated" residual of $18k when I'm done bc I barely drive her with a 10 mile round trip daily commute + I have a bike. Theoretically the profit I make should break me even
4a) if the value of the car still drops significantly, I can return the car and still lose less than those who financed
5) if they turbo her, I can swap easily

The more I read, the happier I am with my lease. Gives me so much freedom and peace of mind for a small price in my opinion. I try to minimize stress so I do place a $$$ value on things that stress me out. I see so many people worry about "what if a turbo comes out" or "the value is dropping" and I'm so glad I don't have to worry about that.

[poison1916]

I'll end up going over on mileage and still won't buyout the car despite putting ~400$ in mods into the car (all minor cosmetic like knee pads), and than $600 for the remote/push start. I'll pay the mileage overage in cash, but the mods will cover my next lease down payment.

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[xrinnenganx]

Originally Posted by F4ith

Same mentality but we're not necessarily paying the same, and defintely no where near less, as financing.

My lease paperwork shows that if I decide to buy out afterwards, I'd pay roughly $33k total BEFORE interest on the 18k residual, or I can just pay it all up front at lease end. If I were to finance right now, I'd pay $30K otd BEFORE interest. That's a $3k difference.

But I don't think of it like that. I think our generation tends to favor those with cash in hand. I still leased dispite of that bc:

1) smaller monthly payments
2) a limiter to control myself on modding the car too heavily (otherwise I'd have rocket bunnyed her so fast)
3) warranty
4) I know for a fact my car will be worth more than Toyota's "estimated" residual of $18k when I'm done bc I barely drive her with a 10 mile round trip daily commute + I have a bike. Theoretically the profit I make should break me even
4a) if the value of the car still drops significantly, I can return the car and still lose less than those who financed
5) if they turbo her, I can swap easily

The more I read, the happier I am with my lease. Gives me so much freedom and peace of mind for a small price in my opinion. I try to minimize stress so I do place a $$$ value on things that stress me out. I see so many people worry about "what if a turbo comes out" or "the value is dropping" and I'm so glad I don't have to worry about that.

well I am actually paying less by leasing than if I were to finance. I'm still gonna put a rocket bunny on mine regardless of the lease and do all the other mods as well, since I plan to buy out at the end anyways.

[Donroy]

Originally Posted by xrinnenganx

well I am actually paying less by leasing than if I were to finance. I'm still gonna put a rocket bunny on mine regardless of the lease and do all the other mods as well, since I plan to buy out at the end anyways.

I would really stick to mods that can be reversed. Once you do that rocket bunny idea you're stuck with it from there on. You never know what might come out or if you even decide to change your mind, it'd be too late.

Just food for the thought. It's your car/choice