Lease special from Honda
06-23-2005, 11:12 PM
#11
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Originally Posted by DuMa,Jun 23 2005, 10:36 PM
are u able to modify your car during the lease? i dont really know much about leases. i read somewhere that in leases, you are limited to what you can do as a car owner.
One - restore the car to the stock before turning it back; two- buy the lease out at it's termination; three - sell the car and payoff the lease. That's pretty much the way it works.
06-24-2005, 12:20 AM
#13
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A private lease is one of the WORST financial contracts that are!!!! Think about it You have to keep the mileage within the lease agreement, plus do the maintenance, plus turn the vehicle in to be in GREAT shape. The dealership will check you vehicle over carefully and will deduct the trade-in value for every ding in the paint....etc. DON'T LEASE if you are a private citizen!!!! Also, think of this, if you turn in your lease under the best of conditions, you STILL have to get another vehicle. Do you really want to pay a car note for the rest of your life by leasing? Some people justify by answering "yes" because they want to drive a new vehicle every 3 years. Personally, I see leasing as a total dead-end vehicle acquistion for a private citizen. Now, if you can write the lease off on your taxes(business), that's a different consideration. Check with your tax CPA.
06-24-2005, 06:20 AM
#14
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ol' dood makes things sound horrible and I don't think he has a clue when he makes a statement like "a private lease is one of the worst....". What is a "private" lease anyway?
Leasing is great way to go if:
1. You don't keep a car more than 4 years
2. You don't drive a million miles a year (you can purchase more miles
)
3. You want to shave a nice chunk off your monthly car payment
4. You understand that a car is always going to lose its value, and would prefer to use someone else's money on the hit while you're money is invested in appreciating things
5. You have a job where you can use the lease as a tax write off
Don't lease if:
1. You drive more than 20,000 miles a year
2. You want to own your car forever
3. You want to do modifications that you cannot take off (a paint job)
Leasing is a great way to go for the majority of us. It just makes all kinds of sense. Yes, you need to maintain your vehicle, but don't you want to do that on any vehicle? Yes, you will get knocked for an over abundance of wear and tear (more than 3 door dings or a side is caved in). No, you don't have to turn the car back in - you can trade it or sell it. Of all the vehicles that are leased only 20% are actually turned back in
I have leased every single new car I have ever bought and not once did I ever turn it in. Because I didn't turn it in I didn't have to worry about wear and tear or miles.
Leasing is great way to go if:
1. You don't keep a car more than 4 years
2. You don't drive a million miles a year (you can purchase more miles
)3. You want to shave a nice chunk off your monthly car payment
4. You understand that a car is always going to lose its value, and would prefer to use someone else's money on the hit while you're money is invested in appreciating things
5. You have a job where you can use the lease as a tax write off
Don't lease if:
1. You drive more than 20,000 miles a year
2. You want to own your car forever
3. You want to do modifications that you cannot take off (a paint job)
Leasing is a great way to go for the majority of us. It just makes all kinds of sense. Yes, you need to maintain your vehicle, but don't you want to do that on any vehicle? Yes, you will get knocked for an over abundance of wear and tear (more than 3 door dings or a side is caved in). No, you don't have to turn the car back in - you can trade it or sell it. Of all the vehicles that are leased only 20% are actually turned back in
I have leased every single new car I have ever bought and not once did I ever turn it in. Because I didn't turn it in I didn't have to worry about wear and tear or miles.
06-24-2005, 07:17 AM
#16
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Originally Posted by S2K44,Jun 24 2005, 11:10 AM
Certain cars are not good to lease, that's the point people should get across...
06-24-2005, 07:31 AM
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[QUOTE=Poindexter,Jun 24 2005, 07:20 AM]ol' dood makes things sound horrible and I don't think he has a clue when he makes a statement like "a private lease is one of the worst....".
06-24-2005, 09:56 AM
#20
Former Moderator
Originally Posted by dut,Jun 24 2005, 11:31 AM
This would be the number one reason for leasing a car: 5. You have a job/business where you can use the lease as a tax write off.
Does anyone know how this works and how much would be returned?
Does anyone know how this works and how much would be returned?
If you title the vehicle in your business's name it is definitely a write off, but I do not know exactly how much - it depends on different variables.
If the car is titled in an individual's name then it is all on the CPA, and really depends on what you do for a living.