Have a question about leasing ??

[Jenny]

Leasing a car is like renting an appartment.

In some ways, maybe. But you can't stay in an apartment "too long". You just keep paying the rent. Yes, you have to pay for damages, but you'd have to pay for those too even if you owned a house unless you want to live in a damaged house and try to sell it at which time you'd take a loss in the selling price. Also, a car is a depreciating asset. It loses value the day you buy it. A house doesn't. And an apartment is not an asset at all.

As has been stated, in some cases leasing may make sense. Just as renting an apartment or house may make sense. You have to evaluate your situation and look at all the options. Make the decision that's best for you, not the one other people think is best in general.

[fsugirl]

THANKS FOR THE INFO !! I bought a great car with a pretty good interest rate I guess...It's 11.95% but we are planning to refi in about 6 months..Thanks for the info guys !! I appreciate it !!!

[SinkingFast]

I was just thinking you could get MORE car for your money ?? I don't know ! Just something I am kicking around. Granted I am only 6 months post-BK it makes me nauseous having to pay 12.95% interest !! YIKES !!!

We leased once. For that reason. More car for the same payment amount. But out in Kansas City, it's nothing to put 25K miles on a new car in a year. We even planned for that by paying more/mo for higher total mileage on the lease.

I literally parked the Lease in the barn for months at a time and drove an old beater to the grocery and such. Waiting for the months to catch back up with the miles. The only time the Leased vehicle came out was when we needed it for the whole family to go somewhere.

We turned that one in before the Lease was up and bought a car.

Now that we drive fewer miles, I can see that a Lease could work for us.

It really depends on your individual situation. What will work best for you.

[SinkingFast]

THANKS FOR THE INFO !! I bought a great car with a pretty good interest rate I guess...It's 11.95% but we are planning to refi in about 6 months..Thanks for the info guys !! I appreciate it !!!

Congrats, FSUGirl!! I hope you enjoy many trouble free years of driving pleasure in your wonderful new car!!

[FilingOnMyOwn]

Congrats FSU girl.

There are always exceptions to the rule, but the vast majority of the time you're far better off owning. Best of luck with your new car, and don't forget those regular oil changes, they will make or break your new ride

[BassBoy]

THANKS FOR THE INFO !! I bought a great car with a pretty good interest rate I guess...It's 11.95% but we are planning to refi in about 6 months..Thanks for the info guys !! I appreciate it !!!

Congrats fsugirl!

You got a pretty great rate, as opposed to some of the rates I've read/heard of others getting. Oh, did you keep the term as short as possiible, like 60 months maximum?

Anyways, glad to hear about your new ride. Doesn't feel good to have that feeling of being normal again?

[SinkingFast]

Congrats fsugirl!

Doesn't feel good to have that feeling of being normal again?

What's normal??!! I forget!!

[FilingOnMyOwn]

What's normal??!! I forget!!

I think it means one is not as weird and crazy as everyone else

[fsugirl]

It does feel wonderful !! I own a new car plus a new house all within 6 months after BK !! And yes Bass Boy we did a 60 month loan ! I follow instructions very well don't I ??