For those that leased car/truck

did you end up financing the rest or trading it in for a new lease?

Re: For those that leased car/truck

traded in for a new lease

Re: For those that leased car/truck

I've done both. Financing after the lease was the biggest mistake though. I had a great buy back deal and hardly any mileage on my SUV so at the time, I thought it was worth it. After having my SUV for 5 years, (3 on lease and 2 financing) I was ready for a new suv but I couldn't get a decent deal anywhere b/c I was upside down in my loan (I owed more than it was worth).

Since then, I've traded in for new at the end of the lease.

Re: For those that leased car/truck

trading it in for a new lease

Re: For those that leased car/truck

trade in

Re: For those that leased car/truck

new lease..but my dad has financed it after and I turned out to be an excellent situation.

His 02 Camry was leased. In 05 he financed the rest and will be paid off in about 10 months. The car is worth $9k and he owes about $3800. It cost more in interest, but the car has 40K on it. He will be able to drive it for more years if he wants.

It doesn't work out all the time and most of the time you end up paying more for the car overall than if you just bought it to begin with that's why when you lease you are better off just getting another lease or buying another car rather than buying it off the lease.

Re: For those that leased car/truck

trade in

Re: For those that leased car/truck

Here is our situation:
Dh has an 04 Trailblazer. He is about 15000-20000 under his mileage. We love the truck plus dh says he doesn't want a car. The amount financed would be about $17,000 (the truck was about $40,000 brand new and dh doesn't want to just throw away what we put $ into) The car he was looking at would be a few thousand more--which would also make for a higher payment.

I guess in the long run, its up to us.

Just wanted to know what others did.

Re: For those that leased car/truck

We usually traded in for a new lease

Re: For those that leased car/truck

It's usually more expensive to buy the car/SUB after you lease it.

I don't plan on buying our SUV afterwards. I will trade it in for another one.

Re: For those that leased car/truck

it really only a good deal if the car is really worth more than the residual balance because then you can trade the car in down the road. You can loook up the valueon kbb and compare to residual.

Re: For those that leased car/truck

traded in for a new buy. When it was time to trade it in, I got out of my old SUV 6 months early & got 0% financing for 60 months on a new SUV.

Re: For those that leased car/truck

we turned it in at the end of the lease & got another truck of a different make.

Re: For those that leased car/truck

1st time-went to another lease
2nd time-had gotten a car from a relative

Will probably never lease again as it is a never-ending cycle.

Re: For those that leased car/truck

I have always re-leased in the past. It's the reason I lease in the first place, because I like getting something new.

Re: For those that leased car/truck

I will release till I die, I like new with low payments. I always negotiate low payments and high mileage, I have a 2006 Murano SL, 15,000 miles, no money down for less than 400 a month.

Next year I will get a new car, Infinity Q35, and if the economy is crap like it is today I plan on paying even less.

Re: For those that leased car/truck

We lease with the intent of leasing again when the lease is over. We're the type of people that will always want new vehicles, so it onyl makes sense to pay less and get new. We're considering buying out DHs truck, but it's probably not going to happen because I know he'll want something new before it's paid off.