BCobaltSS

So I'm at least recieving notices that my lease is ending soon. I'm keeping mine . What is everyone else doing. Buying the new LNF? buying the car after the kease? or releasing a different car?

MfZx25z

When you lease a car you can't modify it.... Or at least thats what I thought

BCobaltSS

Unless you plan on keeping it . That is what I did

MfZx25z

I'm keeping mine. Imo It's not worth going out and starting from square one for another FWD. Next car is going to be rear wheel for sure!

SSSCEnthusiast

Yeah, I never really understood leases.. do you still owe the full sticker price of the car if you "decide to keep it" ??

Switt23

iTrader: (7)

The only people i can see benefiting from a lease is professionals who want to look loaded for appearance sake. They can have a brand new car every 3 years.

da_kage

Basically your monthly payment is going toward the deprecation of the car. When the lease is up you have the option of giving the car back to the dealer or making what is known as a "balloon payment". The payment is basically equal to the value of the value of the car.

Value of car: $20,000
Lease payments: $7,000
Balance: $13,000

If you want to out right buy the car you owe the dealer $13,000. That is basically simplified version of how a lease works.