Should I lease or get a loan for buy?
I want a new jeep. I would keep the jeep that I have now. It has 208k miles on it. I have new tires and just had a tune up this year. Fluids are good and runs good. My sisters car however has just took a dive. I wanted to get a new car preferably a jeep wrangler. Any jeep that sits high like the jeep liberty I have now. I don't know anything about leasing and I don't want a NEW jeep. I cannot afford anything more than $300/month on a lease payment and if I were to put anything down I would have to get a loan for that and end up paying more than $300. What should I do? I have no Idea. Thank you for the answers if there are any
- regeruggedLv 78 months agoFavorite Answer
Consider taking over a lease on an existing vehicle. Try www.swapalease.com or www.leasetrader.com. Thousands of people are trying to get out of leases. You can look at vehicles in your price range and can decide based on how much remaining lease suits you.
- 8 months ago
May 28, 2019 - The purchase of the vehicle was my next logical step. ... Many dealers will cover new cars under a warrantee for up to a certain mileage or time cap, ... But there are some benefits to not worrying about the miles, as well as being in ...
- JohnLv 78 months ago
If you own 100 cars for your sales force and they drive all day servicing clients, then you lease those vehicles. The lease payments are 100% deductable and the dealer takes care of servicing them. It's the best way to go. If you are a private party and you lease a car then 0% of the payments are deductable, the dealer does, indeed, take care of servicing but you never own the car and your money is just gone. This is why car ads push leasing so hard - all of the deck is stacked in the car dealer's favor. In the end they get the cash. AND the car. You earn the privilege of driving it for a few years.
- John AldenLv 78 months ago
I doubt you can get a loan to use as a down payment and get approved for a lease.
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- Trump 2020Lv 78 months ago
Lease=Pay a bunch of money for a car you don't own, like renting.
Finance=Pay a bunch of money and own the car.
Cash purchase=Pay less money (no interest) and own the car.
'Sup to you.
- River EuphratesLv 78 months ago
You should never lease a vehicle.
If you can't afford to buy it, then you can't afford the vehicle. A lease will require you to put money down upon starting the lease, then monthly payments, and at the end of the lease if you have exceeded the mileage or done any damage to the vehicle you will get to pay a hefty penalty at the end as well.
New Jeep Wranglers are EXPENSIVE and they won't talk deal because people are too willing to pay full price for them, so if you don't buy it, the next person will. In fact, most people are sh** at talking deals on cars, which has resulted in dealerships/salesmen having no incentive to talk deal (unless they are desperate to make numbers - usually at the end of the month).
Never allow a salesman to negotiate based on payment. They want you to stop thinking about the sales price, and instead will keep dragging the payment out over longer and longer periods (7+ years is becoming disturbingly common). Always bring the conversation back to the sales price, and worry about financing it yourself.
If you've only got $300/mo. to spend - get off the Jeep lot.
- A HunchLv 78 months ago
If you can only afford $300, how are you going to afford the increased insurance and higher maintenance costs (not repairs maintenance) on a new car?
- Rick BLv 78 months ago
Never LEASE a vehicle. Wy would you want to "rent" a vehicle and then turn it in with nothing to show at the end??? Also, it is VERY uncommon to lease a used vehicle.
Save up and pay CASH for a good used vehicle.
- martinLv 78 months ago
As money is an issue, recommend you buy a used one. It has to be cheaper, and with maintenance and care, you could enjoy it a long time. Later, when your income goes up, get yourself a new one.