which is the cheapest new car to lease...? is it good idea to lease?

Question

I want to lease a car nothing fancy...I drive about 15k miles a year.
which is an unexpensive new car to lease
please hepl...

Answer 1

Leasing is not as bad as the previous poster makes it out to be.

First of all, there is no downpayment required on most leases. The only thing you pay up front is called "Total Drive-Off" which consists of DMV fees, 1st month payment and bank fees.... which is around $1500.

Secondly, the example above is total bull crap. Lease payments are not $20 less.... generally, they're about 40% less. So if financing costs $400/month, you're looking at around $240/month when you lease.

Financing isn't as great as people think.... try trading it in after 3 years... you'll be upside down. That means financing ended up costing you more since you had a downpayment and higher monthly payments. When you lease, you turn in the car at the end without worrying about resale value. Unless you plan to drive the car for 10 years or more then leasing is a good alternative.

You can also negotiate mileage.... I know people who managed to get 20k miles/year included for free.

If you want to lease a different car every year or so, then look at http://www.swapalease.com

Answer 2

A lease is a great idea if you dont mind having car payments for the rest of your life, but also what to have a new car every few years. Honda always have great lease offers, so does Toyota, they are affordable but 15k miles a year is pushing it usally they allot you about 12k a year, but maybe you can work something out in the lease that gives you that extra 3k.

Answer 3

My own opinion is that you should never lease a car. You make payments for 3-5 years and at the end you give back the car and have nothing to show for it. Not to mention that you are responsible for any abnormal wear and tear. Plus if you do happen to go over the mileage limit you have to pay stiff per mile penalties. Leases are good for people who get a car allowance for their business. They are also good if you can write off the car as a business expense. The best lease I have seen advertised is the VW Jetta. Small down and payments of $200 to $300 per month

Lets work this out buying vs Leasing $20,000 car

Buying down $2500
Balance $17,500
48 months X 354.16
not including taxes and interest

Leasing down $2000 plus 48 payments X $329= $15792

At the end of 4 years you have paid $17,792 and you have to give them the car back. They service and detail the low mileage car you made payments on for 3 to 4 years and resell it again. It really is a glorified way to rent a car. Its a huge windfall for them.
If you bought the car you have paid $20,000 plus interest but you own the car and I guarantee you the car will be worth more than the difference between the $20K and the $18K.
Bottom line if you can't write off the car as a business expense forget leases.

Answer 4

You could probably lease a Saturn Ion (very good car) or a Kia Rio (marginal car) for under $200 a month. But, you could also probably BUY the same cars for just a couple of bucks more. Then, you would build equity, not have to worry about excess mileage or damage - and it would be YOURS at the end of the term.

Answer 5

Honda's and Toyota's are always a good choice. They have high residual's which means that they are going to be worth more towards the end of your lease contract.