We leased a car

Abrowneyegirl · ‎03-15-2010

We have never leased a car before but recent events caused us to research it.

In the past 2 years, we have had several friends and family members who bought brand new, traditional reliable high-end cars- who all had terrible luck. Major engine or electrical issues that have been a source of frustration and even danger when being left stranded.

Yes, new cars are under warranty but that is little joy when it is 1:00 am and you are stuck in an airport parking lot 2 hours from home.

After such an experience one of our friends decided to lease their new, new car. They got rid of their brand new Toyota lemon. You drive it for 3 years, if you like the car and it is mechanically sound you buy it. If not give it back and try something new.

So we looked into it and decided why not? We have several other cars (all paid for). We normally pay off a car in 3 years so really there is no risk on our end.

Since it is a brand new car the first several oil changes are free. The car is under warranty so no repair $$ for us. If the oil needs to be changed? The dealer comes to us, picks up the car, leaves us a loaner and changes the oil for free.

If we get a lemon, give it back and start new. I like the idea of being able to walk away from it if I want to or have the option to buy it and keep it.

Our niece who trying to use the lemon law with her brand new Cadillac is going to be looking into a lease option for her next car. Her Cadillac has been in the shop 8 times in 6 months.

Now-a-days you just don't know, our Cadillac never gave us a moment's problem.

fthunt · ‎12-24-2010

If your niece wants a Cadillac, or any other 'strong' car....tell her to check out 'used' "C" on the internet or contact a dealer who can check a GM auction - which is available only to dealers. I just spotted a 2012 CTS beautiful white one with $85K miles...price $10K to $12K. Many cars have come off 2 or 3 lease program - lots of companies do lease for their high-end executives.

Just a thought.........

millieshops · ‎03-09-2010

@AbrowneyegirlI, too, am driving my first leased car. For years, I've been a car owner, paying cash, driving whatever I owned for over 10 years and well over 100,000 miles.

When I finally chose to lease, there were several reasons. First, given my age and eyesight issues, I'm just unlikely to be driving for my usual 10 years, but given my age I did not really want to buy used and cope with what could be the old-age problems of a car someone else had driven. I also wanted to be able to take advantage of new safety devices as they came onto the market and not have to wait 10 years for them. Finally, and very important - one of my financial advisors is a car freak and he feels tha5t given the prices of cars nowsdays and my specific needs, leasing is no longer a sucker deal.

So - I've driving my first-ever leased car and it's my first-ever SUV. Loving the drive!

SilleeMee · ‎05-22-2016

My ex leased a brand new car every year. He used it as part of his job where first impressions were important (I guess-'eye-roll'). We would not have been able to afford buying those kinds of cars and instead leasing them made it possible to drive them.

Abrowneyegirl · ‎03-15-2010

@fthunt wrote:
If your niece wants a Cadillac, or any other 'strong' car....tell her to check out 'used' "C" on the internet or contact a dealer who can check a GM auction - which is available only to dealers. I just spotted a 2012 CTS beautiful white one with $85K miles...price $10K to $12K. Many cars have come off 2 or 3 lease program - lots of companies do lease for their high-end executives.
Just a thought.........

She has one, just bought it earlier this year brand new. It is in the shop more than she has it. She has hired an attorney that specializes in the Lemon Law process because one of the problems has been fixed 4+ times. The other problems are just icing on the cake.

I don't think she will ever own another Cadillac.

libbyannE · ‎10-27-2010

We always buy German cars, although the last two were assembled in South Carolina, Never a problem, If you lease a car, you commit yourself to monthly payments forever and never own anything. We pay cash, so never a payment.

Abrowneyegirl · ‎03-15-2010

@millieshops

You bring up a very good and very valuable point regarding technology and safety features.

One of the cars we will be getting rid of next year is a Beautiful European sports car 11 years old. Show-room new (my husband has it professionally detailed regularly) with very low mileage. But the technology is old the safety features are dated. With so many texting and distracted drivers out there........time to get rid of it and replace with something new.

Witchy Woman · ‎03-15-2010

@Abrowneyegirl

We recently leased a car when my husband simply got tired of repairing everything we had.

He's good with cars, but every vehicle we had, including a big Tahoe was having trouble of one sort or another.

We decided we needed at least ONE new car that was maintenance free. I'm happy we did it because he's still working (I'm retired) and he has so much on his plate already, the car repair issue was getting to be too much.

Between keeping his other equipment running (he's a builder) and taking care of the house, he was spending his evenings in the garage under a lift trying to keep our vehicles fixed. Several of them are now over 20 years old, so we got our use out of them.

I doubt we will ever go back to buying a new car, but will continue to lease.

Abrowneyegirl · ‎03-15-2010

@libbyannE wrote:
We always buy German cars, although the last two were assembled in South Carolina, Never a problem, If you lease a car, you commit yourself to monthly payments forever and never own anything. We pay cash, so never a payment.

What are you talking about? Why do you say, "commit yourself to monthly payments forever?" That makes no sense.

Never say never. We own and have owned a lot of luxury imports- some with MAJOR problems some a joy. It is like buying an appliance or anything else now-a-days it is a gamble.

sunshine45 · ‎03-09-2010

@Abrowneyegirl wrote:
@libbyannE wrote:
We always buy German cars, although the last two were assembled in South Carolina, Never a problem, If you lease a car, you commit yourself to monthly payments forever and never own anything. We pay cash, so never a payment.
What are you talking about? Why do you say, "commit yourself to monthly payments forever?" That makes no sense.

Never say never. We own and have owned a lot of luxury imports- some with MAJOR problems some a joy. It is like buying an appliance or anything else now-a-days it is a gamble.

i think that @libbyannE is referring to the fact that you will never own the car unless you purchase it after the lease is up. if you dont purchase it then you will lease another car with another payment......thus, "monthly payments forever" or until you stop driving.

leasing is not for me for several reasons, but hope you enjoy your brand new car @Abrowneyegirl !

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"The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing." - Albert Einstein