Tell me about leasing

[Anonymous]

We have never leased a car before, but my daughter wants a car with lane assist and blind spot detection features which is making the cars she likes expensive. Hyundai has some good lease deals right now so she is thinking of leasing. That way she can keep the car for 2 years then return it and start over. Besides the mileage limits and the down payment amount is there any thing else that we should know about? Any other fees or extra taxes? Should we take the full payment amount and divide by 36 to get the monthly amount? Or is there more to it than that? And what if the car needs some minor body work when she returns it? Like scratches, nothing major.

Here is an example of what we are looking at for a Hyundai Kona


http://www.alexandriahyundai.com/VehicleDetails/new-2020-Hyundai-Kona-SEL-Alexandria-VA/3514898633

[Anonymous]

You will feel you have to continue leading at the end of this two year lease. Because you won’t have a car to trade in to help with the downpayment. You’re signing up for a car payment for life.

[Anonymous]

In our case it was a big mistake. Lots of fees, mileage limit and cost of fixing even minor bump because you need to return the car eventually.

[Anonymous]

Horrible financial decision!

Get a used car with those features.

[Anonymous]

Anonymous wrote:Horrible financial decision!

Get a used car with those features.

Here's one OP
http://www.alexandriahyundai.com/VehicleDetails/certified-2019-Hyundai-Kona-SE_Auto_FWD-Alexandria-VA/3516138853

[Anonymous]

She has to learn that as a young person she can’t always get what she wants.

If she can only afford $2000 down and $257 a month, she should find a car that fits her budget.

[Anonymous]

You’ll want a three year lease with at least a 12,000 a year mile limit. Don’t let the lease term exceed the warranty. I’ve leased and I’ve owned. Sometimes there are great manufacturer lease deals. You’re basically paying for the depreciation of the vehicle over the term, plus a rent charge. Taxes will be bundled inm, usually You must negotiate the price of the vehicle as aggressively as humanly possible and watch out for the unnecessary dealer add ons. Negotiating a good lease deal to avoid being a sucker/fool/idiot can by very time consuming and draining. Dealers will try to shuffle numbers around. Stay focused. And really, please start with Edmonds or other reputable sites to learn the basics.

[Anonymous]

Anonymous wrote:She has to learn that as a young person she can’t always get what she wants.

If she can only afford $2000 down and $257 a month, she should find a car that fits her budget.

Honda CR-V Exwithall that lane monitoring stuff.

[Anonymous]

Through 10/31 there’s a great lease deal for MD residents on the Hyundai Ioniq EV— $1000 down and $79/month for 3 years, but that’s for the base model and you need the limited model to get all those safety functions.