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Mommyx03
LIF Infant
Member since 5/15 283 total posts
Name:
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Leasing a car
We are going to start looking at buying/leasing a new car. We are leaning towards a minivan, either the honda odyssey or the toyota sienna.
We have never leased before. Can anyone give me an idea of what their monthly payment is on a minivan?
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Posted 9/6/15 9:28 AM  |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Leasing a car
Monthly payment will vary depending on the brand and options. The key to a lease is picking a car that he a good residual value.
Also never put money down on a lease other than taxes and fees etc.
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| Posted 9/6/15 11:50 AM |
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Mommyx03
LIF Infant
Member since 5/15 283 total posts
Name:
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Re: Leasing a car
Posted by alli3131
Monthly payment will vary depending on the brand and options. The key to a lease is picking a car that he a good residual value.
Also never put money down on a lease other than taxes and fees etc.
I am assuming that not putting money down will increase the monthly cost? I'm totally clueless when it comes to leasing!
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| Posted 9/6/15 1:44 PM |
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Blubtrflygrl
LIF Adolescent
Member since 5/15 609 total posts
Name:
allison
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Re: Leasing a car
Posted by Mommyx03
Posted by alli3131
Monthly payment will vary depending on the brand and options. The key to a lease is picking a car that he a good residual value.
Also never put money down on a lease other than taxes and fees etc.
I am assuming that not putting money down will increase the monthly cost? I'm totally clueless when it comes to leasing!
Not necessarily.
You may need to be prepared to walk away or play hardball and not take what they are initially offering.
I recently did this for a Jeep Wrangler but know we will most likely buy it at the end of the lease.
You also have to know the value of the vehicle and some do not have good lease deals as was the case with the Wrangler.
I still was able to get them to come down to my price range.
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| Posted 9/6/15 1:58 PM |
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Maybe-Baybe
My Sunshine
Member since 7/12 3415 total posts
Name:
My only Sunshine
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Re: Leasing a car
Posted by Mommyx03
Posted by alli3131
Monthly payment will vary depending on the brand and options. The key to a lease is picking a car that he a good residual value.
Also never put money down on a lease other than taxes and fees etc.
I am assuming that not putting money down will increase the monthly cost? I'm totally clueless when it comes to leasing!
That was my thinking as well. MIL told me not to put any money down besides taxes and fees, but I didn't listen. Cut to 3 months later, DH totals the car and we are out ALL the money we put down. It was only about $3,000 all together, but still. Lesson learned 
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| Posted 9/6/15 2:11 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: Leasing a car
Posted by Maybe-Baybe
Posted by Mommyx03
Posted by alli3131
Monthly payment will vary depending on the brand and options. The key to a lease is picking a car that he a good residual value.
Also never put money down on a lease other than taxes and fees etc.
I am assuming that not putting money down will increase the monthly cost? I'm totally clueless when it comes to leasing!
That was my thinking as well. MIL told me not to put any money down besides taxes and fees, but I didn't listen. Cut to 3 months later, DH totals the car and we are out ALL the money we put down. It was only about $3,000 all together, but still. Lesson learned
This is the exact reason why!!!!!! I have been leading since 1996. Never once put money down. If you can't afford the monthly payments it's not the car for you!
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| Posted 9/6/15 5:33 PM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Leasing a car
You NEED to play hardball. Do not be afraid to walk away. They need you more than you need them. Always check residual value and I agree with pp, never put anything down!
You can also save a ton if you take what's in stock, but you need to be a little flexible on options and color.
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| Posted 9/6/15 5:47 PM |
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jtd
LIF Zygote
Member since 12/07 21 total posts
Name:
Jtd
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Re: Leasing a car
I still do t understanding the calculation...
How do I know if the residual is high
Duh 
Message edited 9/7/2015 8:25:10 PM.
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| Posted 9/7/15 8:23 PM |
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LI-Joy
Member since 10/07 2910 total posts
Name:
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Re: Leasing a car
Posted by jtd
I still do t understanding the calculation...
How do I know if the residual is high
Duh
I know I don't either. I've leased and it still confuses me. We got screwed last time. We agreed on a price and then the salesman asked for an additional 800-$1000 when we picked up the car(not first month or taxes, I forgot) We should have walked out, but didn't. I didn't want to cause a scene and I'm usually not like that.
If anyone wants to reply on this, I'd appreciate it. Say you are purchasing a Toyota Camry (2015). Since they want this years off the lot, you agree on a price and get $5,000 off the sticker price-which makes the car $23,000.
Other than the first month's payment and DMV fees, I'd like to pay $500 max when picking up the car. What should my lease payment be and is the tax based on the $23,000 or is it based on the total amount of 36 payments?
Thank you.
Message edited 9/7/2015 10:18:55 PM.
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| Posted 9/7/15 10:17 PM |
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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
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Leasing a car
DO YOUR HOMEWORK!!! Twice when I leased cars from Honda, I went in and they offered me deals that were substantially higher than the deals set forth on Honda's website. I ultimately accepted the deals on the website, but it was annoying (yet strangely fun) watching them try to swindle me.
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| Posted 9/7/15 10:28 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Leasing a car
Posted by LI-Joy
Posted by jtd
I still do t understanding the calculation...
How do I know if the residual is high
Duh
I know I don't either. I've leased and it still confuses me. We got screwed last time. We agreed on a price and then the salesman asked for an additional 800-$1000 when we picked up the car(not first month or taxes, I forgot) We should have walked out, but didn't. I didn't want to cause a scene and I'm usually not like that.
If anyone wants to reply on this, I'd appreciate it. Say you are purchasing a Toyota Camry (2015). Since they want this years off the lot, you agree on a price and get $5,000 off the sticker price-which makes the car $23,000.
Other than the first month's payment and DMV fees, I'd like to pay $500 max when picking up the car. What should my lease payment be and is the tax based on the $23,000 or is it based on the total amount of 36 payments?
Thank you.
Ask the dealer for the number of months, money factor, residual, and cap cost and I can calculate the lease. If you google search there are websites that also tell you this.
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| Posted 9/8/15 7:33 AM |
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angelicd77
LIF Adolescent
Member since 12/13 794 total posts
Name:
Kim
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Leasing a car
I work for a dealership, and at least for my store we almost ALWAYS go $500 behind invoice on our deals. We would rather retain customers for life then rip them off. If you have any questions feel free to PM me.
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| Posted 9/8/15 12:38 PM |
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