stevflo

This whole paragraph is the biggest batch of crap ever put out. Dealers don't want you to know how much they make off a lease versus a buy. I know many people who work or manage dealerships and they all have stated many times that leasing is a moneymaker for them and not a good deal for the general public. Yes, you can buy a more expensive car for less, but you have nothing when it is over. As for the statements about privelege to lease and good credit, it is hard to believe that you are so ate up with the hype pumped into you by the dealership that you spew this crap, because that is exactly what it is. Not everyone is a no credit/low credit loser that gets or is buried alive in a car and any dealer can sell anyone a car and get them financed if they try hard enough, but the good credit people are easier to do. A dealer can twist a deal and bury a no credit/low credit customer in a heartbeat into a lease and make them think they got a good deal, until it is time to trade or turn in the lease and then reality hits. As stated earlier, any GOOD financial manager will push you away from leasing. The fact that you lease and work for a dealership does not make it a good deal. It may be for you because of all the discounts, but not for most.


Michigan has the highest number of auto workers in the country and they get good deals. I would like to see the actual statistics that backup your statements about the high number of leases versus buys in any state including Michigan. Our economy is not secure and surely not because of auto sales/leases. You can pay $300 and buy a Cobalt and still have something in 3 years or you can pay $300 and lease a Trailblazer and have nothing in 3 years. Thats a no brainer. Why would you pay all the money for nothing?? As for the statements on American cars, there are an awful lot of cars built outside the US with American brands and a whole lot of parts built in foreign countries that are put into American cars so I'm not sure this statement is true either. Detroit's economy may depend in large part on the auto industry, but not the American economy. And if you were successful in switching a lot of people to leases it just makes my point on how dealers make more money on leases. If they didn't, they wouldn't have you trying to switch people.

cowboybornlate

It's a no-brainer decision for me... I drive way too many miles. My last lease was on a Chevy S-10... 18 months into it I was already 6K miles over what was allowed for the 36 month lease... it cost me nearly 5K dollars to get out of it and go back to a full purchase... i'll never do another lease....

CBL

Pizzaman

I buy my soda from Pepsi and I am on a national account and I get access to all of the same special deals that MOST grocery stores and conv. stores get. The average markup is no where near 750%. If the soda is sold indvidually it will approach 150-200% but in a six pack it would be about double or even less when it is on sale. The soda company will give them a price break or discount, but not at those percentages.
btw, Most car salesmen are not worthless, some just work for unsavory business owners.

BryceStrong

Exactly, because you got out of it early. Your mileage adjustment should have been slightly over $1,000, but it's the getting out of it half way that killed you. Try getting out of financing a car in 18 months and see what that will cost you.

OK, I didn't take into account middleman. About 7 years ago I worked for an arcade. I remember the owner gloating about how bottled sodas are made for a nickle and sell for a dollar or more. Regardless, my point still stands. The difference, of course, is that the profit margin is much larger, but low enough you need to sell bulk.

cowboybornlate

Still, if I had stayed in the lease the full term of 36 months at the current rate I was going, I would have been approximately 55K miles over at $0.15 a mile.. that's a total of $8250.00 in mileage penalties I would have paid... it was cheaper to buy out rather than stay in the lease until the end of it...

either way, as long as i drive the miles that i do, i won't be leasing another...

CBL

HHR PNOY

if you drive less than the contracted mileage on a lease and is the kind of person who wants a new car every three years or so then a lease is for you.

If you use up a lot of mileage per year I wouldnt suggest a lease.

dbarberaz

Well I like the "idea" of the lease getting a new car every couple of years, but there is no way one works for me or for my wife. We both put on to many miles for a lease to work. With the HHr I would already be in trouble, since I got it in Feb I have 13000 miles on it, and most of that is to and from work or daily stuff I have to do.
For those of you that can lease cool glad to see it works out for some of you.

batman5273

honestly people, I dont think you are getting the point. Bryce is trying to back me up and then most of you are comming up with the most off the wall situations.

I dont think any of you really read what I wrote either.

I have read that everyone was like after three years you dont have anything. well what do you have? and old car that you are still paying for. I get a brand new one and spend the same or less money.

Its not an arguement of leasing VS buying. It about math. Math doesnt lie! But some people can only understand addition and other can understand algebra.

What ever you choose to do is fine. If you are happy good for you. I didnt mean for this to be a huge debate. but others have turned it into one. i only stated after alot of thinking that i traded in my HHR because I got a more expensive vehicle that fits my family's needs for alot less money.

I stated before Im not here to change anyones minds. Just to give information. But alot of smart people have no clue how leasing really works. people have no clue how much of a benefit leasing is. All cars are crap shoots. after the warranty runs out, who know what you got.

i would rather pay for two cars in 6 years and spend the same amount of money as most people spend doing a 5 year loan and going a whole year without making payments. Its all math. 6 year old cars with 72k miles are worth what you just paid off. and what is is worth is because you paid alot more that what is was worth after the loan is done.

I am not complaing about the HHR. I loved it for the year i had it. and I will continue to sell them to customers who want them, and tehm them how great it is, but if they ask me why i traded it in. I'll tell them.

cars are bad investments. if you put $10,000 down, you are stupid. you only need to pay your tax tag and title with alittle bit more to lower your payment. i always tell my cutomers to keep their money and pay for their insurance.

I am a professional sales consultant. Unlike alot of "salesmen" I want repeat customers and referrals. I do that by teaching my customers the right way to buy vehicles. My motto is "i'd rather tell you the truth and lose your business, then have to lie to make a sale."

I am fortunate to work in the car industry and know at any time what deals are there to deal and when and what cars are the best time to buy them.

MATH IS MATH!

Snoopy

Hey Batman.....cars ARE NOT investments, as any GOOD CERTIFIED FINANCIAL PLANNER will tell you. And, many of the "things" you mentioned in all your posts, is noteworthy.

But, what ever !!!! You are still a vehicle salesperson....nothing wrong with that. But, there is no certification, credential, training, or school that makes them professional as far as I know (other than what the dealer provides, and that in most cases, is questionable). So IMO, the word professional is a little overused. Professional in attitude maybe...but nothing else. Making the sale and possibly having a repeat, or referred, client is, clearly, the objective.

Oh, I forgot to add the main point...

As many have indicated, leasing is not for everyone. In some applications it's a good "fit". But, you had given the direct or implied impression (look at all the criticisms, as validation) that leasing is good for all. Clearly, not so.

BryceStrong

You just proved batman's point that no one is reading his posts.