Car Leasing

[vrblackwell]

Does anyone here sell cars? Can you tell me some laws on leasing?

[rgcraig]

Does anyone here sell cars? Can you tell me some laws on leasing?

If you think you are going to put more miles on it than will be allowed in the lease, buy extra miles up front. They are cheaper than to pay for extra mileage at the end of the lease.

[BoredOutOfMyMind]

Alas, Timlan refuses to post here.....

[rgcraig]

I'll probably never lease again.

It's great if you want to have a new car every two-three years and always want a car payment.

[freeatlast]

I sold for 15 years. Timlan currently sells to.

I have been out the buz for 5 years, so am a bit outdated.

MO. laws would be a different than IL and IA laws that I delt with.

Any particular question you have?

[vrblackwell]

Is there some kind of 24 hr lease law? Once you sign do you have a period to get out of it?

[Sherri]

Dave Ramsey says NEVER NEVER NEVER lease a car.

[freeatlast]

Is there some kind of 24 hr lease law? Once you sign do you have a period to get out of it?

You may be refering to a 3 day right of recision that applies to door to door salsesman. if a product is sold to you in your home.

If you have not taken physical delivery of the car, and refuse to sign any additional papers most dealers are not going to force your hand.

If you have put a partial payment on the deal they may be a little reluctant to refund that to you.

[J-Roc]

Stay away from leasing like the plague...unless you are able to write it off through your company. It is designed to kill you at the tail end when it is time to return the vehicle...besides, so many people are busy negotiating a monthly payment of the car rather than the price...

...to exaggerate to prove a point, what good is a $90 a month payment if the term is for 65 years? Therefore, never negotiate a monthly payment with the dealer, if you must lease, then at least negotiate a purchase price on the car.

[rgcraig]

http://missourifamilies.org/quick/consumerqa/qaca9.htm

[Nahum]

The real question is, who is better to lease from?

A PAJC, UPC, ALJC, AOG, or PCI salesman?

[J-Roc]

Stay away from leasing like the plague...unless you are able to write it off through your company. It is designed to kill you at the tail end when it is time to return the vehicle...besides, so many people are busy negotiating a monthly payment of the car rather than the price...

...to exaggerate to prove a point, what good is a $90 a month payment if the term is for 65 years? Therefore, never negotiate a monthly payment with the dealer, if you must lease, then at least negotiate a purchase price on the car.


I recommend this for anyone considering leasing if they must:

http://www.autoleasingsoftware.com/New/pricing.htm

[freeatlast]

I did'nt lease many cars, but lots of guys i worked with did. GMAC would pay us 110% of list or sticker price.

Most any car could be negotiated down to invoice, but on a lease, our lease customer never saw the price, only the monthly payment. Most people did'nt negotiate much on the payment.

Lease's often grossed profit's of 2 or 3000 over invoice...this on a car we'd have sold you for a 100 over invoice.

Proceed cautiously when leasing. Again I been out of the business for @ 5 years , so things have no doubt chaged.

[Esther]

Dave Ramsey says NEVER NEVER NEVER lease a car.

I agree with him!

[berkeley]

The real question is, who is better to lease from?

A PAJC, UPC, ALJC, AOG, or PCI salesman? Get a lawyer to interpret the lease from the PAJC salesman. There are three clauses. Clause one is always before clause 2 and 3; on occasion clause 2 is labeled as 3, and 3 is labeled as 2.

The UPC salesman will add things to the lease that aren't necessary, because the salesman before him did it.. so on and so forth..

The PCI salesman will give you a very lenient lease... you may or may not have to pay for the xtra mileage that you put on the car, but he isn't going to judge you!!

[gowinsouls]

Anyone have any tips on the best GPS system for autos?

[gowinsouls]

I have heard the Garmin is good, looking to get one soon!

[dixonic2]

I sold cars for a while and I'd say that if you're over your miles on a lease or think your're going to be over before you lease do the following:

-GO ON THE LAST DAY OF THE BUSINESS MONTH.
-ALWAYS NEGOTIATE THE PRICE, NOT PAYMENT
-TURN THE LEASE IN A MONTH OR FEW EARLY, SOMETIMES THE DEALER WILL EAT THE "MILEAGE OVER" CHARGE TO GET YOU INTO A NEWER VEHICLE.

That's just my 2cents...take em for what they're worth.