QuestionQUESTION: I am in the market for a new car. I have always purchased cars, have never leased. What are the pros and cons of each? I am a low mileage driver, and I definitely would not exceed any of the mileage restrictions imposed by car dealers. I have good credit, and could qualify easily for either option. Given what I have told you, is either one better than the other?
ANSWER: Morning William,
I have been a proponent of leasing for several reasons.
*You will most likely never pay a car off and own it for years.
*Your payment is $100 to $150 less a month.
*There is a residual at the end of the lease which is what you can buy the car for. If you add all your payments and add it to the residual, the pricing comes out the same as if you financed it.
*Even people that drive a lot of miles lease, you can always trade in a leased vehicle early, you get a trade in value and trade it in.
*And certain cars are better than others on a lease payment. (A Honda is better than a Cobalt).
Now having said all this, watch a lease process closely. Most dealers do not know how to lease and you can get slammed without knowing.
As a follow up, if you want, tell me the vehicles you might be interested in and I'll structure you some payments so you know what to expect.
Here's a web-site to visit: autoleasingventures.com
Have a nice day...Hope I didn't confuse you more.
---------- FOLLOW-UP ----------
QUESTION: This is very helpful. The vehicles I interested in are a Honda CRV or a Honda Pilot.
AnswerHi William, The Hondas, Toyotas, Nissans, are the best vehicles out there to lease. They have the highest residuals which means they will have the lowest payment.
Where do you reside? I'll see what the programs are with Wells Fargo and US Bank.
Shari
