What did you pay for your lease terms? - Page 2
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Thread: What did you pay for your lease terms?

  1. #11
    Big Timer!!! DynoBlueSi's Avatar
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    Quote Originally Posted by sf5 View Post
    I meant to put $2,150 for my total down, not $3,600. I knew something looked funny. Bad math.

    I lease because I want to learn stick, and it's a tax write-off. After owning an auto 335i, I'm planning to save for a standard 135i, but if only the i-DTEC engine could come to the U.S...
    Tax write-offs are always good. Do you get that write-off even if you don't itemize and take the standard deduction? Or, do you have to itemize? I never can write off enough to make itemizing worthwhile.
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  3. #12
    sf5
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    Quote Originally Posted by DynoBlueSi View Post
    Tax write-offs are always good. Do you get that write-off even if you don't itemize and take the standard deduction? Or, do you have to itemize? I never can write off enough to make itemizing worthwhile.
    That's a question for my accountant. Being an independent contractor, I can do most, if not all, of the lease. When I bought, I could only write off miles or gas but not both.

  4. #13
    Big Timer!!! DynoBlueSi's Avatar
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    Quote Originally Posted by sf5 View Post
    That's a question for my accountant. Being an independent contractor, I can do most, if not all, of the lease. When I bought, I could only write off miles or gas but not both.
    Very nice. Isn't there a mileage limitation too? I'd be so screwed if there was one for purchases, hah. I've had my car since May, and I'm already at 13.5k miles.
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  6. #14
    sf5
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    Quote Originally Posted by DynoBlueSi View Post
    Very nice. Isn't there a mileage limitation too? I'd be so screwed if there was one for purchases, hah. I've had my car since May, and I'm already at 13.5k miles.
    It's 12k a year. I've had it a month and am past 2k. $.15 a mile overage.

  7. #15
    One Bad Mama Jama!!!
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    I could never understand the concept of putting money down on a lease, just put the down payment in your car payment account, why pay them up front, you would almost be better off purchasing with such big down payments, just my opinion. Leasing is just like a long term rental.

  8. #16
    Big Timer!!! abailey21's Avatar
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    Quote Originally Posted by DynoBlueSi View Post
    I'm curious what the benefits of a lease are over purchasing. I've never explored leasing before since it always seemed like it was a longterm rental so to speak (like an apartment). Do they cover all maintenance or just warranty stuff?

    I'm sitting at $300/month for my loan with 0.9% interest. It doesn't seem like leasing is much cheaper. Not bashing leasing or anything. I'm just curious.
    I only leased one other truck in my life and said i'd never do it again.

    But the situation I'm in kind of forced me too.

    Being I have no job, and dual enrolled in 2 schools I dont have spare money for a $200+ a month car payment, hell I dont have money for the $150 i'm paying! But for me, I went to the lot, saw the 2012 LX 2DR and saw a car that I would like to buy (eff the haters, I like the 2012).

    I leased because it's currently a few hundred dollars less per month and I already have every intention on buying out at the end, i'll be done with school and hopefully have good employment then.

  9. #17
    One Bad Mama Jama!!! DJDannyV's Avatar
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    Quote Originally Posted by DynoBlueSi View Post
    That makes sense. It kinda provides a trial period without purchasing the car. My parents always advocated purchasing growing up, so I never really considered it. Just out of curiosity, how short is your loan with that payment amount after all that down? I'm guessing it's pretty short term since that's $7750 down if you combine the trade-in and down payment.

    I put $3000 down and didn't trade anything in since I like my Mazda3 too much to trade it in. I just gave it to the wife to drive lol. I have a six year loan with my credit union. I figured 0.9% over six years isn't bad at all with how well these hold their value. Plus, gap insurance was only $100.
    Mine is a 5 year loan
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  10. #18
    One Bad Mama Jama!!! DJDannyV's Avatar
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    Quote Originally Posted by DynoBlueSi View Post
    Very nice. Isn't there a mileage limitation too? I'd be so screwed if there was one for purchases, hah. I've had my car since May, and I'm already at 13.5k miles.
    Limitation only matters if you end up giving the car back. If you buy the car at the end, you don't pay any overage.
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  11. #19
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    Just wondering if you guys that got $325/month are from the states.
    Because my rates were much higher with a much higher down pay and I live in Toronto.

  12. #20
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    Quote Originally Posted by DynoBlueSi View Post
    I'm curious what the benefits of a lease are over purchasing. I've never explored leasing before since it always seemed like it was a longterm rental so to speak (like an apartment). Do they cover all maintenance or just warranty stuff?

    I'm sitting at $300/month for my loan with 0.9% interest. It doesn't seem like leasing is much cheaper. Not bashing leasing or anything. I'm just curious.
    Unless you plan on buying the car (at a good price negotiated up front) it usually isn't a good financial deal. sf5 is going to pay $2150 + $220*36 or $10,070 over 3 years. If I think about buying the car new (you can get a 12 Si for ~$20k) would be worth more than $10k at the end of 3 years? (A quick search on Auto Trader shows 3 year old Si with 35-45k miles listed for $19k and KBB lists it as worth $14-17k).

    So if he buys it after the lease, he will come out the same as buying it, maybe less $1k in fees or something. If he turns it back in, he pays the dealer $10k and then the dealer can turn around and sell it for $15k (plus TTL!!) so they just made $25k+ on a 2012 Si.. Easily $5k profit over if they had just sold it to you.

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