2006-07-03 08:10:40 · 6 answers · asked by remshot 2 in Business & Finance ➔ Credit
Oh, yeah, as long as there aren't any penalties! With a (f)lease you are paying for the most expensive part of the car - the first year! If that car depreciates 20-25% in the first year (as most do), that's the part you're paying for! Example - you get a $20,000 car and it depreciates 25% in the first year (that's $5000, right), you are going to be paying about $420 per month.
Let's say, instead, you took just $400 (not the whole $420) and saved it for a year at 1.5% - you'd have almost $5000 to BUY a car WITHOUT a payment. Save it for two years and you'll have over $10,000 - that'll buy you a pretty nice used car with no payment. Oh yeah, and you'll OWN the car. With a (f)lease, you pay and pay and end up with NOTHING!
Never, EVER buy a new car - they depreciate too quickly.
2006-07-03 15:49:41 · answer #1 · answered by homeschoolmom 5 · 0⤊ 0⤋
It depends on how early. Is it a traditional lease or some type of special lease?
Most lease agreements charge a fee if you return the vehicle before the end of the lease term. What other costs are you incurring.
If you are leasing a car that is too expensive for you, then it may be to your advantage to pay the return fee and get out of the car. If you are near the end of your term, you should probably just wait.
With a lease you won't pay down interest if you just pay the auto lease early because you aren't really paying interest on the loan. Leasing is just basically a long term rental.
2006-07-03 08:34:42 · answer #2 · answered by techwriterinusa 2 · 0⤊ 0⤋
every time you do no longer pay a invoice you legitimately owe, your credit will take powerful. How huge powerful and how long this is going to influence our credit, no you could say for particular. each and every credit status service has their very own propietary formula for determining your credit status. many times, even though, the bigger the undesirable debt the greater this is going to wreck your score. on the different hand, the older such entries get the fewer they count selection. the terrific component to do is get a unfastened credit document from all 3 (there's a internet website for this) and spot what they are asserting approximately you.
2016-11-01 03:49:11 · answer #3 · answered by Anonymous · 0⤊ 0⤋
sell it and get out of the lease, unless you're a multi-millionaire and can afford to piss away hundreds of dollars a month for a car for the rest of your life....
2006-07-03 10:30:50 · answer #4 · answered by kvuo 4 · 0⤊ 0⤋
How early? You may want to ask if there is a penalty for doing so.
2006-07-03 09:12:05 · answer #5 · answered by Anonymous · 0⤊ 0⤋
save interest
2006-07-03 08:22:02 · answer #6 · answered by jean 4 · 0⤊ 0⤋