@Brian P and other auto ppl - leased cars wtih high mileage?

[Jayv]

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Sometimes you have to laugh at the state of some of these lease return vehicle's that come back to the dealership.

Complete hit and miss whether or not the car was cared for or abused.

You can lease/finance a most new cars with no interest, not sure how much money over a 3 yr period you really save over the maint and upkeep on a high mile lease return.

 

[Joe Bass]

^ Honda had plenty of issues with automatic transmissions back then, but you're almost at the point where it don't matter no more.

edit: Timing belt replacement interval on that engine is 100,000 mi / 160,000 km and I betcha it has never been done.

Re: edit -- it was. It was my BIL's vehicle since new, and I have complete service records.

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[James25]

my ex girlfriend is looking for a new lease. she is a 21 yr old mini cooper S with low kms. But I redlined the engine very hard over 4-5 months and racked up a chunk of kms over the winter. No guy will ever redline her the way i did again

 

[mimico_polak]

You can lease/finance a most new cars with no interest, not sure how much money over a 3 yr period you really save over the maint and upkeep on a high mile lease return.

All you are doing with a 0% lease/finance is subsidizing the bank loan in the price of the car. It's not free money, you pay for it regardless. If you pay your cars fast you may be better off paying some interest as you will pay less if you pay fast enough.

Even used cars are at 2% or so if you buy from dealer sometimes.

 

[Jayv]

A $17,000 car in Jan 2016 selling for 3.9% financing, come June 2016 and the manufacture is trying to unload cars for the upcoming 2017's, the rate goes down to 0% and the msrp stays at $17,000. So who is subsidizing the bank loan?

 

[mimico_polak]

A $17,000 car in Jan 2016 selling for 3.9% financing, come June 2016 and the manufacture is trying to unload cars for the upcoming 2017's, the rate goes down to 0% and the msrp stays at $17,000. So who is subsidizing the bank loan?

The consumer....just because the MSRP stays the same means nothing. They just offer you a better 'deal' to make you feel warm and fuzzy. Take a look at 'cash discount' offers. Your only difference is you're subsidizing the 3.9% down from 6-7% and the 0% down from the same %.

 

[Jayv]

All you are doing with a 0% lease/finance is subsidizing the bank loan in the price of the car. It's not free money, you pay for it regardless. If you pay your cars fast you may be better off paying some interest as you will pay less if you pay fast enough.

Even used cars are at 2% or so if you buy from dealer sometimes.

The consumer....just because the MSRP stays the same means nothing. They just offer you a better 'deal' to make you feel warm and fuzzy. Take a look at 'cash discount' offers. Your only difference is you're subsidizing the 3.9% down from 6-7% and the 0% down from the same %.

To the consumer that buys the same car in Jan or June its free money. Car A would have $17k plus *% in Jan, or 17k zero% in June. When the finance rates drop its the manufacture buying down the rate. It's why traditionally Hyundai's and Kia are so aggressive with their financing rates, and Honda and Toyota very rarely offer 0%.

 

[Brian P]

It's not unusual for there to be no incentive to "pay cash" any more. If there is a choice between paying cash or paying the same thing monthly with 0% interest and they won't budge with an offer to "pay cash" ... it's a free loan. Take it - even if you have the cash.

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