| Car leases are up what you gonna do now !
Posted: 7/30/2008 3:49:32 PM | Well now I have seen and heard that most car makers are now planning on getting out of car leasing! Yes I knew this was gonna be the biggy down fall for any car maker as they only looked at the bottom line as to how much money they could make with leasing when they first started them.
So now all of them are loosing money biggy time cause no one is buying new cars any more ! So I am wondering how you people who now or are leasing that new car what you plan on doing when your lease runs out!
Oh I know its not nice for them to stop the leasing now as that will cut alot of people off who currently lease cars.
So what I wanted to know is how this will affect what you drive once your lease expires ! | |
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| Car leases are up what you gonna do now !
Posted: 7/30/2008 4:28:40 PM | | No one should ever lease a car unless you own your own business or can write the lease off. Better to pay that few extra bucks per month for a loan. Luckily when I purchased my new car this year I was savvy enough to know leasing was the wrong way to go. Hopefully most PoFers know this since we all know how smart we all are...lol | |
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| Car leases are up what you gonna do now !
Posted: 7/30/2008 4:32:31 PM | The money loss on leasing is because of the resale value at the end of the term, ie. the money they take in during the lease plus the resale value at the end of the term is less than the initial sale price of the vehicle.
A couple of them are compensating with low/no interest financing instead, with payments working out the same. This way, the owner (that's you in this case, rather than the leasing company) takes the financial loss on the resale.
Doesn't matter either way to me. If I want a car, I'll pay cash anyway. | |
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| Car leases are up what you gonna do now !
Posted: 7/30/2008 6:13:48 PM | I never leased a car in my life. I always bought used.
When I was younger, I was impressed with new cars even though I could not afford one.
I am older and I can afford a really really nice new vehicle but this week I am looking at a fixer up beater. It is an old van that is going to cost me next to nothing to operate if I compared it to a new van or even a late model one. All it is transportation to me. If I want to splurge and go nuts on something that gets me from A to B, it is going to be on a fancy bicycle. | |
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Mayor
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Joined: 1/2/2006
Msg: 5 | |
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| Car leases are up what you gonna do now !
Posted: 7/31/2008 7:22:07 AM | I leased a new car once, and after putting on too much mileage, and after an accident, I got out of the lease with a penalty. Never lease again !
I'm currently financing an 04 Vibe, with only 6 months left before it's paid off. Can't wait for that day.
Many car rental companies lease new vehicles, and then return them when the mileage has reached a certain amount. The cars are then sold as "used". I guess this will change a bit. Car mechanics are going to be in high demand over the next decade as more and more people will be keeping their older cars a bit longer. And once again, the Ontario government will be raking it in HUGE with their "drive clean" program. Yep, we're going to pay for it !! Don't be surprised if the Ontario government makes changes to the drive-clean program so that we end up paying more for it. You heard it here first. | |
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| Car leases are up what you gonna do now !
Posted: 7/31/2008 11:30:06 AM | | there is a website called Leasebuters.com is for people trying to get out of a leased vehicle if anybody is looking ,there are some great deals | |
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| Car leases are up what you gonna do now !
Posted: 8/1/2008 9:14:48 PM | Well what I was meaning people was GM & chrysler are doing away with car leasing all together soon. And was wondering what you people who lease your cars are gonna do when you can not get any more through leasing!
I also know that alot of these returned leased cars& trucks get cleaned up & checked over and then are shipped to south america and central america for resale.
As these countries people could not afford a new car like we can in north america.
Oh sure most likely there will be benifits for those like me who only buy our cars out right .
But I do know lots of people like the leasing as it is easier to get that nice new car with out a big out lay of cash.
But was wondering if this will affect you with your current leased car or truck?? | |
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