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HELP! Is leasing a used car a good option? Is the payment too high?

helpme2016helpme2016 Posts: 1
edited February 2016 in Lexus
Right now I pay $912 a month. After the rodent damage I want to dump it. Infiniti QX80 2014. Owe still $47,500 approx. interest rate of 5.20% was high due to my divorce crap. Here is what I want to buy. Goal is to cut my payments in half!!

2013 Lexus GS 350 Mark Levinson 41,000 miles (I know miles are high but it's certified for life and the first 3 maintenance stuff is free. VERY high and tight and CLEAN). $32.8k / lease deal would be $475/mo. 36 month. They would make 1s payment + fees + pay for 1890 on shiney rims. Which I think $1000 may be put on my lease and they absorb $890) they would Payoff my car or trade value of $47.5k. I would break even on my Infiniti QX80.

2015 Mercedes C 300 / 9,000 miles, AMG package the "looks" outside (super HOT) but not AMG engine. Their offer on my car is $50,000. I owe approx. $47500 on it. They will not do a lease. Purchase only. Their deal is $547/mo and 3.5% (it's a estimate on interest rate).

I Don't like the miles on the Lexus but I work from home and don't out but 7-8 k miles per year. I can't afford a new GS.

Answers

  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Leasing a used car can be tricky. The selling price on the Lexus seems to be retail so I don't know if you've bargained on that. Also don't know the residual on this lease. Also you'd better read the terms of the certification warranty, as there are exclusions--that is, items that will not be covered.

    What's the selling price and long term on the Benz?
  • MichaellMichaell ColoradoPosts: 121,989
    Leasing a used car is tricky - how do you determine the value at the end of the lease?

    If you're looking for something around $500/mo, you can easily lease a new car for that kind of payment. 2015 Lexus GS has $6500 of cash on them, driving down the payment a lot.

    And, if you can find a loaner vehicle that hasn't been titled, they are still eligible for new car lease rates.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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