Reply to Tell me about leasing a car. Never done it and need advice.

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[quote=Anonymous][quote=Anonymous]OP
Leasing now is not a good idea. Buy something and then sell it when you don't want it to Carmax, they make it easy.

If you are sure you want to lease.

1. Never ever longer than a 3-year lease.

2. You are considering doing a lot of driving leases that have miliage rates. 10,000, 12,000 or 15,000. You pay for these rates. If you go over then you pay even more. Pay attention to this part can be very expensive.

3. Residual value - buy out of the car at the end of the lease pay attention to this number

4. Cap reduction is the terminology car companies use to get you a lower payment. On a leased vehicle do not do this. Basically using your cash you will never get back to make that payment lower. If you were buying the car then yes put cash down. Leasing do not.

5. When the lease ends you have nothing. Will need to most likely lease again. Not a great finacial cycle.[/quote]

No. #5 is the reason I cannot understand for leasing a car.
Why not outright purchase an actual vehicle so that your monthly payment is not all in vain?[/quote]

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