8 Year Car Lease = Real Life

[hoosierdaddy317]

 

@HoosierDaddy317
Why do they say never give the salesman a price when they ask you "what are you willing to pay monthly"

They can just alter the terms on the car so the payment fits your range. They just extend the term so they can lower the payment

Precisely this. You'll be paying on it for a longer period of time.

 

[jthagreat]

even with the opinions being all over the place, i enjoyed reading this thread. i talked myself out of buying a car last month after looking at all my options.

my daily commute is 4 miles total and i havent had a car note since early 2012. But my car is approaching 125k miles and major repairs seem to happen every 3 months...like six, seven hundred a pop or more. I hate paying for them knowing the car prolly aint even worth 3k.

It doesn't help that im making way more change now and live around the corner from the MB and Audi dealerships. I cant help but glance at their lots everyday knowing I can "afford" a new whip.

but at the end of the day I just felt like i couldnt justify that i really needed to cop sumtin right now

Same story but it was a Jag dealership

 

[frank mucus]

Saw two brand new Bently GT coupes today at the gym.

A 4 mile commute thats love.

I ran into the same issue as you guys. Car was paid off and I had planned on keeping it for 3 more years,but my transmission went out
while I was out of town. They wanted 4K for the repair .I decided to just get a new 2015 altima for 17.5K out the door. I wanted the new maxima and could
easily afford it,but l choose the more financially responsible route.

Like @UTVOL23 said, I am trying to build weath not spend 1K a month on a car payment even though I can "afford" it.

That's MB S550 or 7 series money though.

What kind of Maxima has $1k a month payments. Is your credit terrible?

 

[al audi]

Saw two brand new Bently GT coupes today at the gym.
That's MB S550 or 7 series money though.

What kind of Maxima has $1k a month payments. Is your credit terrible?

Lol

 

[shortkid23]

I bought my current car- a beater cash 5years ago but lately its been$400+ repairs monthly. I am close to jumping a lease for a Infinti q50. Anyone have any insight on how much effect my credit score (650) will have?

 

[luckyluchiano]

I bought my current car- a beater cash 5years ago but lately its been$400+ repairs monthly. I am close to jumping a lease for a Infinti q50. Anyone have any insight on how much effect my credit score (650) will have?

Your rate wouldnt be good/great. I would apply for an autoloan with who ever you bank with as they will probably give you a rate better than the dealership financing.

 

[antidope]

You really shouldnt be buying a brand new car unless your net worth is positive excluding primary residence and even then I would advise against it. Just a " I want what I shouldn't have" situation a lot of the time in my opinion. I also have a hard price cap on car purchases but thats just me. 

https://www.daveramsey.com/blog/the-truth-about-car-payments/

I came across this in 2010 and while a bit idealistic had a lot of stuff in there that made sense to me. Tweaked it and created my own philosophy on car purchases.

 

[hoosierdaddy317]

I bought my current car- a beater cash 5years ago but lately its been$400+ repairs monthly. I am close to jumping a lease for a Infinti q50. Anyone have any insight on how much effect my credit score (650) will have?

Your rate wouldnt be good/great. I would apply for an autoloan with who ever you bank with as they will probably give you a rate better than the dealership financing.

See this how you get into hella debt and let banks rape you.

Leases are generally more strict than financing loan terms. With infiniti, they have their own bank /financing. Typically with a lease, you're either approved or denied. Where as with financing you can get approved, denied, or countered with a different payment with a higher interest rate. 650 credit score ain't bad. Banks generally look to see if you have auto loan financing on your credit report with good payment history to determine if you get approved or not. Shoot your shot b all they can do is tell you no or that you need a cosigner

 

[you go boy]

buying a used car is definitely the way to go especially the certified pre owned... still dont see the difference in financing and lease...i never leased and always financed and thought it was a waste of money to put money on something you dont get to keep... also you have restrictions on lease like mileage...it may be cheaper to lease but i liked the fact of owning a car and not having to make payments anymore... having a new car every 2-3 years with a lease sounds dope but having a car payment forever is kinda wack imo

 

[capital sb]

Saw two brand new Bently GT coupes today at the gym.
That's MB S550 or 7 series money though.

What kind of Maxima has $1k a month payments. Is your credit terrible?

2015 Maxima I was looking at was 45K. Credit isn't terrible even a 45K car with 0% apr is $750/mo .

I stated 1K a month as what I can afford on a payment it has nothing to do with the maxima. That was a general statement.

 

[Magic33]

I bought my current car- a beater cash 5years ago but lately its been$400+ repairs monthly. I am close to jumping a lease for a Infinti q50. Anyone have any insight on how much effect my credit score (650) will have?

I highly doubt you can get a lease with that credit score, for that car.

Normally they like for you to be over 700.

 

[al audi]

2015 Maxima I was looking at was 45K. Credit isn't terrible even a 45K car with 0% apr is $750/mo .

I stated 1K a month as what I can afford on a payment it has nothing to do with the maxima. That was a general statement.

for a maxima?

lol F that

 

[luckyluchiano]

2015 Maxima I was looking at was 45K. Credit isn't terrible even a 45K car with 0% apr is $750/mo .

I stated 1K a month as what I can afford on a payment it has nothing to do with the maxima. That was a general statement.

Lotta dudes factor car notes but dont account for car insurance which can be just as high as a note depending on the persons driving record and location lol. I still remember when i was under 25 and geico wanted 280 for car insurance lol i just juuged and gon on my pops joint until my 25th birthday.

 

[SneakerProSr.]

I bought my current car- a beater cash 5years ago but lately its been$400+ repairs monthly. I am close to jumping a lease for a Infinti q50. Anyone have any insight on how much effect my credit score (650) will have?

I highly doubt you can get a lease with that credit score

You can get a car lease with that score easy.

 

[capital sb]

for a maxima?

lol F that

My point exactly. They have upped the price a lot on the maxima's, it's not worth it so I went with a car more than half the price lol.

luckyluchiano Yeah I am paying $180/mo now on my 2015 altima insurance. Nobody ever takes the insurance and maintenance into consideration .

 

[luckyluchiano]

I highly doubt you can get a lease with that credit score

My boy who got the A6, leased a VW CC just be for this and he had a similar (maybe 660-670) score, only reason I know is because we had chats about boosting credit. He didnt put anything down on the leaae either. But i would assume different dealers = diff rules.

 

[shortkid23]

Appreciate it luckyluchiano and hoosierdaddy317 its most definitely the option i'm leaning towards unless something real good pops up at the auctions. But i''d rather have something new. I've heard of people paying the lease in full instead of payments too.

 

[luckyluchiano]

My point exactly. They have upped the price a lot on the maxima's, it's not worth it so I went with a car more than half the price lol.

Thats Lexus ES money, the new maximas do look good though depending on the color

 

[luckyluchiano]

Appreciate it luckyluchiano and hoosierdaddy317 its most definitely the option i'm leaning towards unless something real good pops up at the auctions. But i''d rather have something new. I've heard of people paying the lease in full instead of payments too.

I think if you dont want new then buy the previous yrs model when the car companies do their refreshes. Typically there will he deals because dealers want to clear inventory.

 

[Magic33]

You can get a car lease with that score easy.

My boy who got the A6, leased a VW CC just be for this and he had a similar (maybe 660-670) score, only reason I know is because we had chats about boosting credit. He didnt put anything down on the leaae either. But i would assume different dealers = diff rules.

Depends on the car.

A Honda or VW maybe, a Infiniti or BMW, probably not.

650 is close to subprime for a $40K+ car. They can charge you high interest and take it away, and sell it, but they're still taking a risk.

 

[capital sb]

Thats Lexus ES money, the new maximas do look good though depending on the color

I like them alot, the interior is pretty nice to me, but it's not worth the money. The base maxima starts at 32K these car prices are getting crazy. Makes sense why loan terms are increasing.

 

[luckyluchiano]

I like them alot, the interior is pretty nice to me, but it's not worth the money. The base maxima starts at 32K these car prices are getting crazy. Makes sense why loan terms are increasing.

Hell lol cats might as well set up a mortgage style 30 yr loan so they can finally cop the lambo they want.

 

[shortkid23]

I think if you dont want new then buy the previous yrs model when the car companies do their refreshes. Typically there will he deals because dealers want to clear inventory.

I hear you, i just dont want to finance.I have about 7k to work with right now and the q50 deal is 309+ tax/month and they said i can get down to a 24month lease, which is alittle over 12k total.

 

[capital sb]

Hell lol cats might as well set up a mortgage style 30 yr loan so they can finally cop the lambo they want.

Oh you can believe it's coming man. I know dudes on 8 year terms just so they could get that foreign . If prices keep rising they will come out with a 10 year loan and then keep upping the terms as prices rise.

 

[luckyluchiano]

I hear you, i just dont want to finance.I have about 7k to work with right now and the q50 deal is 309+ tax/month and they said i can get down to a 24month lease, which is alittle over 12k total.

Oh my bad didnt know u wanted to lease, Im the wrong guy to ask about leasing lol