LAST DEC I LEASED A 2013 BUICK LACROSS. THE SALE PRICE WAS AROUND 34k. BEFORE I REACHED A 39 MONTHLY CHARGE OF $319.16 I HAD TO JUMP HOOPS PAYING FOR MANY ITEMS I STILL DO NOT UNDERSTAND:
ASSESSORIES, LEASE ACQUISIITION, PRE DELIVERY, ELECTRRONIC REGISTRATION, SALES TAX & TITLE, REG /LICENSE . IN ALL, THE CHARGES AADDED UP TO $6,000.
IS THERE SOMETHING WRIONG WITH THIS AGREEMENGT? WOULD GREATLY APPRECIATE YOUR IMPUT.
THANK YOU.
PAUL PRAGER PAUL2SQUARE2@AOL.COM
You might get a better reception if you weren’t stuck in UPPER CASE.
And not being familiar with taxes and fees in your state I can’t make a guess as to whether you actually received anything of value for the $6,000. but in general it is not financially worthwhile for anyone to lease a vehicle individually. As a business leases can be worthwhile.
What you did wrong was Lease a vehicle. Leasing is by far financially the WORSE way to get into a vehicle…it’s GREAT for the dealers and banks…but really lousy for the consumers.
People get too focused on the monthly payment. You’re going to pay $18,447 to use a car for 3 years and 3 months. At the end of that time period you have nothing to show for it.
Spread that $6,000 across 39 months and add it to the lease payment and it shows you’re paying $473 per month to borrow that car.
Explaining all those charges is the job of the car salesman, the time to ask was before you signed the lease. They’re probably all legitamate charges. Buying a new car is expensive, whether you lease it or buy it.
I am financing a 2003 (129k) Lincoln Aviator. I did all the mantainence, oil, brakes, etc. The engine has gone bad. I had 3 mechanics, including a friend NOT looking to make money off of me tell me this. It is just before about to sieze, I need toget out from under this car. It is still on finance and I need to know if I will be able to trade it in for a working vehicle?
GemTwin, please start your own thread. Your answers will get all confused with Paul’s and the thread will also get too long having two subjects together.
@gemtwin Here’s how it works. You financed a car so you are obligated to continue to pay for it regardless of its condition. In fact if you read the finance papers, there is most likely a clause in there that you have to keep it in good condition and keep insurance on it. You can always trade it in but you will have to pay it off when you do, and a car without an engine isn’t worth much. One way or another you will take a financial hit, either paying for a new engine, or taking a hit on the trade. But why a used Lincoln?