Was thinking about Leasing...

[JooksKidd]

I built my 135 for about 41k on BMW's site.

Great and dandy!


I planned on trading in my 2006 VW GTI (11k I could get for it...this is all bluebook values, of course. However I am confident in my ability to get a great price!). When I went to estimate the payments (planned on doing a 24 month lease 12k/year) the payments were veryyy reasonable at 187/mo

I had a few questions though however.

This would be the first car I would ever be leasing. Are there any fees that I should pay attention for in order to still receive this 187? (my credit is pretty good).


After the two years...will I just be assed out? Or would I be able to trade up and get another BMW (with the same rate? or would I have to put another 11k down...)


Is this a good option? I'd finance...but I just would not be able to afford the payments.

What did you guys decide to do?

[HISI808]

Never put a down payment on a lease, just to lower the monthly payment. If the monthly payments are too high with no down payment, you should be looking at a different car more within your budget.

[FJUNO78]

Originally Posted by HISI808

Never put a down payment on a lease, just to lower the monthly payment. If the monthly payments are too high with no down payment, you should be looking at a different car more within your budget.

+10000000

if the leased car gets wrecked or stolen, you lose your money.

deposit the proceeds from the used car and put it into a savings account. draw on that to help payments.

[jpd]

Yes, it's pretty obvious that you need more money. Let me tackle a few issues not addressed. First, GTI value-go to a VW dealer and tell them you want to sell the car outright. This will give you a true value. You may be in for a rude awakening. Your VW is 5-6 yrs old. A BBW dealer is not going to do any better. Your fooling your self if you expect to lease for $187- think 500-700 per month. Since this is your first post your path to leasing or ownership is still in its infancy. Your vague terminology like "pretty good credit score" tells me almost nothing. There are lots of fees including tax to add to the equation. SAVE, SAVE money and buy used.

[Boxtyp3]

Originally Posted by HISI808

Never put a down payment on a lease, just to lower the monthly payment. If the monthly payments are too high with no down payment, you should be looking at a different car more within your budget.

+1! Don't put any money down on a lease!