Great info from other leasers.. Thanks for the tips guys.. never thought about a lower down payment.

 

Lease if you want, but just remember that you are basically renting the car. People can say whatever they want about the terms etc, but that's what it comes down to. If, at the end of the term you want to buy the car, you're going to be over charged. It you chose give the car back and stop...renting it, fine. But remember, you can always finance on a 3-4 year term with similar monthly payments if your credit is good. At the end of that term you own the car.
Be smart with your money. Don't rent if you can purchase.

 

Sorry to say but I can't finance no matter what in a 3-4 year term with the same monthly payments as a 3 year finance.. I doubt anyone can unless they throw down a really large monthly payment, and not because of a low interest rate like you said.

Comparing lets say a 29k MINI and 5000 down, a lease will be cheaper monthly payments then a 5 year finance or 4 or 3..

But yes refinancing the balloon will always be more expensive in the end, and someone already noted before that long term leases are much more costly.

The reason why people were bringing up lower monthly payments was because you may be paying a bit more for a monthly payment then w/o a larger one, but in case of an accident you arent out of your down payment completely and at the same time you can use that money toward a different investment on a car in the future.

 

Somewhat true, but that is why you have insurance and warranites. Still, at the end of the payment you're out 20k and have no car.
If you'can't pay at least 30% down, you may want to look into a cheaper car...IMHMHOOH or whatever the hell that saying is.

 

and waranties apply to a lease as well.. If someone were to want a new car often and lease every 3 years a new mini... that is a 275-300 dollar payment as opposed to a 400 dollar one.. they could save the extra 100 each month and put it towards another lease 3 years from then.. They would get a new warranty every time and have a new mini each time.

It works for some people.. saying people should buy period and if they dont have the money for a down payment they shouldnt buy the car isn't always the answer..

 

We'll have to agree to disagree.

 

Indeed, I just hope you have the heart to allow other people out there to be able to experience the MINI instead of requiring them to have 6750 at the min for a DP on a Cooper S =[

 

welp, the way I see it is I'd rather finance over lease. Simple reason: after my payments are done in 4 years, I don't have to make any more monthly payments on the car. I'm done!

However, with lease, you'll always be making car payments for, the rest of your life?

 

I'm a pretty heartless guy.


My true opion is that if you can't drop at least 25% down, you should go with a less expensive car.