Lecom. leasing a car.

[Heyyyyy]

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I really need a car. I am currently thinking of leasing a car. If you are leasing a car, could you please answer the following questions to help me get a better picture as # of car dealers in erie is small.
-How much is your lease per month?
-How long is your lease? 2yrs/3yrs/4yrs?
-Did you pay any deposit? If yes, less than $1000 or more than $1000?
-Does the dealer cover all the maintenance of the car i.e. engine problems, brakes and other related mechanic things?
-Were you required to purchase full insurance since it is a lease?

any additional info will be helpful. thanks.

 

[randomdude]

Don't lease. Buy. You'll probably end up spending the same amount of money per month, and all that money goes to you owning the car. Rich people lease cars. You aren't rich yet.

 

[stomper627]

have to agree....
if your planning on putting a $1000 down....why not just find an older, mid nineties model Accord or Civic, (or another Hassle free Japanese car Toyota) and purchase for $3000? Makes a lot more sense to me. You might end up with a payment....but the car will be yours at the end. DO NOT LEASE....YOU ARE A STUDENT!!!!!!
stomper

 

[kristenE]

I have always leased my cars until my recent one.... I figured I'd put alot of miles on it, but I've barely used a tank of gas in like two weeks!! IMHO:

1) If you want something reliable, get a new car
leased vehicles are covered as far as engine crap and mecahnic stuff, but not for wear and tear.... things like brakes and dings and stuff are your responsibility

2)I bought my car with that 0% financing deal.... I figured if I'm living off borrowed money, I better have something to show at the end

3) I would've bought a used car if my Dad would've let me!! I had to buy something reliable with a warranty

4) If you lease, don't put any $$$$ down.... keep it in the bank and collect the interest. you'll end up paying the money anyway on something that isn't yours in the end!! Spend the extra 16 bucks per month!!!

This is just my 2 cents..... if you can get a cheap lease and don't want to have to worry about engine crap and stuff and won't put alot of miles on, then lease!!

Kristen

 

[Green912]

If monthly payment amount is the biggest concern then leasing will most likely be the cheapest route. Before my current car I leased a Monte Carlo (back when I had a job and $). Anyway here's my advice.

1. Put the bare minimum down. Your payment shouldn't be that much higher if you put $200-$400 down vs. $1000.

2. Don't least for more then 36-39 months. During that time your car is covered by the full warrenty. Afterwards it's all your responsability.

3. If you're planning to put a lot of miles on your car, don't lease. The .15 cents per mile after you alloted 12,000 miles adds up pretty fast.

If you get an "economy" car you could get a payment as low as $150 per month. You won't turn many heads, but it's about survival right.

 

[stomper627]

Once again....you have no income....do not lease.
If you need a car, buy a used Honda. Before my Explorer, I had a honda civic that I bought for under $2000 which I had during undergrad. It had 140,000 miles on it. I took it up skiing every weekend (into N. Idaho 90+mi from WSU) and drove it across the state of WA for many years to and from school. I drove it for 6 years and when it got totalled in a wreck (I was rear ended) it had over 220,000...and ran great. The only thing I had to do during that time was buy a new clutch (I taught my brother how to drive stick on it) and buy new tires. It never broke down, nor did it ever get stuck in the snow. I was upset when it was wrecked....but I needed to get the explorer anyway....I was moving cross country and towing a UHaul.
The japanese cars (hondas, toyotas, etc) are very reliable. I will say it again. Get a used one. They will drive forever....without the hassles of a lease.
you are wasting your money if you lease...and since you have no income....thats a VERY impractical thing to do.
stomper