Edmunds Answers questions

Can I lease a car for less than 3 years? Can I lease for, say, 1 year and 6 months?

blackadder5639 — Mon, 07 Jan 2008 12:49:46 GMT

I've never leased a car before. A friend is coming to the country and would stay for about 1 year and 6 months. He would need a car and I think a lease would be a great idea for him. But I always see 3 year leases being advertised on TV and I'm not sure if a 1 year, 6 month lease is available or feasible. Any other advise about leasing in general would be welcome.

I am interested in leasing a new Lexus IS250 AWD. My credit score is 539. With a co-signer will I get approved?

bella210 — Fri, 11 Jan 2008 15:47:03 GMT

I got into a little credit card debt and am currently paying it off. However, I have checked my credit score and it is somewhere around 539-545. I KNOW THIS IS NOT GOOD! However, I'm interseted in leasing a Lexus Base IS 250 AWD model. I understand I'll have to possibly put more $$ down but is it possible to get approved for the lease with a co-signer?

What are the 2008 residual values for the BMW 328i rwd sports wagon?

rkents — Mon, 21 Jan 2008 13:39:00 GMT

Getting ready to lease a 2008 BMW in Southern California.

Has anyone had experience returning a leased car to Hann Financial?

fspeiser — Mon, 11 Feb 2008 09:30:00 GMT

The dealer offering leases through Hann is over $100 cheaper per month.

to get out of a lease I need to pay $4500 with 15 months left. is this a good finacial move?

arens — Mon, 11 Feb 2008 17:52:50 GMT

I leased a vehicle(bad choice)and want to get out of it. It would cost me 4200+ mileage. The total I would pay on lease to term is 11500(inc. mileage)It looks to me this is a no brainer but I have been struggling with this decision.

is leasing a car worth it?

password1387 — Fri, 22 Feb 2008 18:11:34 GMT

details about a lease
is leasing a car worth it
or just buying makes more sence

My lease is due this summer....I'd like to re-lease my car

petp — Wed, 19 Mar 2008 16:07:37 GMT

would it be smart to release my car when the lease is up this summer. ive had it for 3 years and havent had a problem so id like to keep it for another year or two.

can i assume that my current monthly payment will DECREASE if i do so...or will it stay the same. any possibility the monthly payment will GO UP?

We need to buy our leased car but funds will not be available for 2 weeks. Is an extention possible? How's it work?

escape4less — Fri, 21 Mar 2008 21:17:19 GMT

The lease is up on the 31st. Funds are not available until the 15th. Mileage is way over the limit, so we need to buy.

Leasing a demo - how are the miles treated?

mzmd — Mon, 12 May 2008 12:17:55 GMT

When leasing a demo, do the miles that are already on the car count aginst the milage allowance in the lease?

How to get a deal on a lease?

litaloo112 — Fri, 23 May 2008 22:16:08 GMT

I am interested in selling my 2005 car and getting a lease if it is affordable

Are there any banks or credit unions that provide auto leases directly to the consumer? Where can I get a list?

shivan — Fri, 30 May 2008 14:33:41 GMT

Instead of depending on a dealer to find a bank or credit union with decent residual evaluation and money factors, can a consumer work with any banks or credit unions to pre-arrange lease terms?

How is the excess mileage charge on a lease determined?

shivan — Sun, 01 Jun 2008 17:56:25 GMT

If I have a 15,000 miles/yr, 39 month lease. Does my excessive mileage charge kick in after 45,000 miles or after 48,750 miles?

I entered the required info for the Edmund's Lease Worksheet - lease price on web is less than the dealer quote. Common?

jperlin — Thu, 05 Jun 2008 13:12:51 GMT

Looking to see whether it's common for the dealer lease quote to be higher than the quote from the Edmunds.com lease worksheet when using the same information.

I put in all of the information provided by the dealer (vehicle sale price, sales tax, title/registration/costs, rebate, down payment, residual, money factor, yearly mileage, acquisition fee, sec. deposit) into the worksheet of the web site and the dealer quote is coming back about $25 higher than the monthly payment suggested at the Edmund's web site.

In my mind there are clearly some hidden costs. I'll be back at the dealer to negotiate tomorrow & am looking for some advice/suggestions & any information that might explain the difference in monthly amount.

Is it required that a car dealership pull your credit at the end of your lease if you are just turning your car in?

alro — Fri, 11 Jul 2008 14:17:24 GMT

Like the question says, is it required for the dealer to pull your credit if you are just returning your vehicle at the end of lease and just walking away?

Can you lease a car with bad credit?

chowland — Sun, 13 Jul 2008 08:37:00 GMT

i have bad credit and have never leased before and i would like to know if i can lease a car or if bad credit effects that

Does Edmunds provide a way to contact dealers for car leases?

natbigio — Wed, 23 Jul 2008 20:05:07 GMT

i want to find a way to lease a car and compare dealership prices via Edmunds. Is this possible? and how? thanks

Best lease out there?

84skyblue — Fri, 08 Aug 2008 01:05:00 GMT

I'm looking to lease a car. I want to pay $200-250 with less than $1000 down (or even better, $0 down). Can anyone suggest what I could look for?

Is it smart to trade in your car when leasing a new car, or should I sell it privately?

gprett — Wed, 13 Aug 2008 23:27:33 GMT

I have a 2004 passat which was appraised by a dealership for $11,000. Is it a dumb move to trade it in when starting a new car lease. I've heard that if the car gets stolen or totaled, I'm out the entire cap cost reduction. Is that true?

With two months left on a lease, is it okay to trade for a new lease at a different dealership?

agz — Fri, 22 Aug 2008 14:55:42 GMT

Its a 2006 volvo s80 thats already 3k over miles and has a dent. I also need to get my monthly payments lower than the current $528. My situation currently requires me to lower monthly cost and I wont be able to put much into down payment.

Don't you rate lease deals somewhere on your site?

mongosboys — Sun, 24 Aug 2008 18:33:51 GMT

I leased a vehicle 30 months ago and I was just sure my decision was based on rating research that your site provided? Don't you have a section that tells consumer's what the "best deal" is (for leasing a vehicle)?

Thanks for your assistance.

Dallas

My lease is up and I need new tires.

vwgrrrl — Thu, 28 Aug 2008 09:48:29 GMT

Thanks for the answer to my question. I should also ask, does the tread need to match on all 4 tires?

Anyone use a Lease company? Has anyone had any experience with TheLeaseOutlet out of Newport Beach, CA?

skibum_mm — Tue, 02 Sep 2008 19:40:07 GMT

How does a company like that compare to the car company leases? Their terms are about the same as I was quoted at the dealer, but they offer an buyout after 6 months incase I need to terminate the lease.

Who leases for over 15k miles?

mra321 — Sun, 14 Sep 2008 17:20:41 GMT

I am looking to lease a car but will need more than 15k miles. I was told leasing is not worth it for higher mileage b/c the dealers then change the MF and residual due to a more rapidly depreciating car.

Has anyone done this before? I am realy looking to avoid buying another car. Any insight?

Will dealer adjust lease price?

hoopdreams1 — Sat, 27 Sep 2008 11:52:27 GMT

Leased two weeks ago for $349/mo per newspaper ad. Today ad has same car for $329. Will dealer adjust price?

Lease end trade with 1 month left on my Honda.

deb_bee — Mon, 03 Nov 2008 01:08:57 GMT

Hi dcomber,

I traded my leased 05 odyssey in with 1 month left at the dealership for an 09 civic. they did not explain to me that i might incur end-lease charges for damages to my windshield and front bumper. I was just wondering if you were charged anything for your trade in? I would also appreciate any comments/input from anyone else on lease-end.
thanks,

deb

I need help evaluating this lease offer in Cleveland. Can someone help?

pgatour13 — Thu, 27 Nov 2008 08:39:42 GMT

$1,000 at signing which includes first payment and platee
48 months
Monthly lease payment = $500 per month including taxes
13,536 purchase option
IS 250 AWD (2009) Sticker 36,022
18,000 miles per year
No money factor given

I am getting a divorce and want to get rid of a car I leased. What is the best way to go about this so I don't lose?

hunterford — Sun, 21 Dec 2008 00:26:44 GMT

I have 29 payments left. I called the lease company and they said that they would not let me out that i would have to buy the car or turn it in and pay the lease off. I asked if I could find another leassor and they said yes but I would be on the lease as a back up so if they missed a payment I would have to cover the missed payment. The only way not to be responsible would be for me to find another leasing company that would buy the car and release it to another person that would be qualified and they would then be the only lease holder. I cannot be the only person that is getting a divorce and wants to get out of a lease. I just want out and would sell the car at the residual but i have to buy the car first then take the chance i can sell it for what i bought the car for from the leasing company. I would rather not do this plus i dont know if I could borrow that kind of money. What does anyone know about any of this? Please let me know what else i can consider. Thanks to everyone that will take time to read this.

2009 Acura MDX lease deals?

LITTLEA — Mon, 29 Dec 2008 17:28:29 GMT

Looking for a 2009 Acura MDX w/ tech package....36Month lease zero down ....Looking for the best deal in zip code 34113 florida...Any ideas?

If my car is worth, say $20k, and I want to lease, how can that work?

ntrask — Sat, 03 Jan 2009 13:06:20 GMT

I have a history of buying and selling cars just too much. Want to impose some self-discipline by leasing. If I have a trade worth $20k, will a dealer take $5k of that and reimburse the rest? What are the options when a trade is worth this much?

Trading and leasing cars

ntrask — Sat, 03 Jan 2009 13:40:11 GMT

I own the car I have outright, it is worth $20k. If I went to lease a car for 36 months, and gave them all of the money, what would it cost me? Would a car dealer do that? Thanks much for your answer!

Are the Big Three car companies out of the leasing business?

1ruoregon — Sat, 03 Jan 2009 18:36:28 GMT

Wanting to lease a mini van or crossover, but I'm hearing that Chrysler, GM, and Ford won't lease.

Can a dealer bump your credit score with a rebate?

brandy09 — Sat, 03 Jan 2009 21:25:11 GMT

I leased a 09 Nissian Altima in NC three weeks ago with a great deal. I got $750.00 rebate under the college graduate program. The dealer never ask when I graduated,so two days later they called and ask for the college information and a copy of the degree. They realized that I didn't qualify for the rebate since I graduated 10 years ago instead within 2 year requirement. The dealer is now stating that I don't qualify for lease since the college grad rebate allowed them to bump my 658 score to qualify for a lease. There wanting me either to sign a purchase agreement or return the car. I never heard of rebate bumping a credit score.Is 658 not a good enough score to lease this car? Or is dealer wanting to get me out of the car because it's not a good deal for them?

Is lease trading a good idea?

bogfrog — Thu, 15 Jan 2009 13:29:52 GMT

I am in a situation where I am moving to a new state with a new job. The job pays very well, but my credit is currently not great (668/674/656).

I just stumbled upon leasetrader.com. This seems like perfection. I could take over a lease with 7 months left, have time to pay off some of my credit cards, and have time to shop for and buy a new car once I get settled in to my new life.

Is this too good to be true? I know you have to watch out for wear and tear that you might get charged for when the lease ends. But what are other downsides of leasetrading? Is it a good idea for my situation?

How do I see the dealer's price and how can I use that to negotiate for the best lease offer?

eruane — Thu, 22 Jan 2009 11:57:33 GMT

We're planning on turning our leased Mercedes Benz ml350. we want to get a leased car now. We are going to look at a Lexus, Infiniti and the MB c class. I am not sure how to negotiate a lease. I always feel that the salesperson just says this is the option and there is no budging. any help?

Lease negotiation strategies?

bspz — Wed, 04 Feb 2009 16:54:34 GMT

I am reading that when shopping for a vehicle to lease it is best to negotiate the price first to get the lowest cap cost. They say the worst thing to do is to indicate the monthly payment you want up front. So my question is, if I am not planning on buying at lease term should I care how they get to my ideal payment? I understand how they can manipulate the numbers to meet my payment request, but does it really matter as long as they meet my needs for payment, mileage and term length?

Thanks in advance!

Are there any companies offering commercial financing for commercial vehicles?

1usalimosales — Fri, 06 Feb 2009 12:06:36 GMT

I work for a builder and seller of custom limousines I am looking for a finance company that will be able to offer my clients financing.

Regards
Richard

What is the down side of extending a lease 6 months? Is there a monthly surcharge? Does the extra money go towards the residual?

planetbean — Fri, 20 Feb 2009 22:27:56 GMT

LR3, 2005 22K miles, $342 month, lease up next month, residual is $25K

My lease is coming to an end. I would like to extend my lease for a lesser payment. The finance company said would extend for the same payment.

REYKELL — Mon, 23 Feb 2009 11:37:35 GMT

Would like to negotiate lower payment

Can I take my Jeep to a non-Jeep dealership to start a new lease?

kevken — Fri, 27 Feb 2009 17:13:00 GMT

I'm asking because Jeep just explained to me that they stopped leasing. I wanted to return my Cherokee and walk away with a new one with the same monthly payment. Now I have no trade-in and no down money. I was expecting to walk away with another Jeep lease. I just left the dealership and the salesperson (after I flat out said I wasn't buying anything) told me I could take it to someplace like Honda and explain my situation to them, inferring I could get something for the Jeep. That sounded weird to me but I was hoping it was true.
Now that Jeep isn't an option (I can't afford to buy) I'm interested in a Mazda lease now. Will they take my Jeep off my hands?

This will be my first time leasing. Would anyone let me know how to start the leasing deal?

quiznosman — Thu, 05 Mar 2009 19:40:08 GMT

help

Is "assuming a lease" something to stay away from or can it be a good deal?

bdvance1 — Thu, 26 Mar 2009 20:22:05 GMT

My son is thinking of assuming a lease on a 2008 BMW sedan (335xi AWD). There is 19 months and 24,500 miles left on the lease. I know very little about leasing so am wanting to know if this is something that might be reasonable for him to consider, or is it a good opportunity for my son to get in "over his head"?
Thanks for any help you might provide us.

Is a high mile lease a good option?

manyvt — Sat, 04 Apr 2009 07:37:35 GMT

I drive 35k/yr and have a 3 year old car I own that is needing major repair. Is a high mile lease a good option?

If leasing a vehicle, is purchasing miles in advance advantageous?

rar2 — Sun, 19 Jul 2009 10:05:40 GMT

I wondered if you lease a vehicle and drive approximately 19K miles a year, what is the best deal you could get for buying miles up front, instead of paying the cents per mile at the end of the lease?

Can someone contact me regarding leasing a car?

tfryer — Sun, 19 Jul 2009 10:34:41 GMT

I'm interested in a Honda, Toyota or Nissan.

Which companies provide discounts on money factor for paying additional multiple security deposits?

redhat381 — Tue, 28 Jul 2009 15:13:52 GMT

I know that Lexus and BMW do. But which other companies provide discounts on MSDs? Acura, Hyundai, Volvo, Infiniti?

Do Nissan leases supersede divorce decrees?

deveron — Thu, 06 Aug 2009 10:29:57 GMT

Anyway I got a bill for $4191 (repairs plus remaining months payments) in the mail from Nissan regarding the Pathfinder lease that is required to be paid by August 19th. I turned this vehicle after the divorce for my ex as neither of us could afford the payments. So I called Nissan today to argue two points:

1) the divorce placed the vehicle as my ex's responsibility and

2) the vehicle was turned in because of financial hardship and payments could not be made so as a good faith gesture it was turned in so they could recoup more.

Well according to Nissan, the lease agreement supersedes any divorce decree or court order and so the responsibility still falls on the primary lessee. Additionally the agreement guarantees all 39 months are paid for no matter when the vehicle is returned or repossessed. If the bill is not paid in full by Aug 19th the voluntary surrender on my credit will be changed to a repossession and further hurt my credit as well.

Is this so?

What is a co lessee considered on a leased car? And are signatures needed?

deedee2652 — Sat, 15 Aug 2009 15:11:18 GMT

What is a co lessee considered on a leased car? And are
signatures needed?

Can real estate agents write off a car lease expense?

tfh041 — Sun, 23 Aug 2009 22:52:35 GMT

I noticed that all RE agents in MA and NH drive expensive late model cars. Are they generally able to write off some or all of the lease expenses?

Where in NJ can you get a short term reasonable lease or rental approximately 6 months?

rt44 — Fri, 28 Aug 2009 11:05:57 GMT

Leasing

Looking to lease or rent a car for approximately 6 months.

thank you.