Leasing with third party

[rit12344]

Hi,

I am looking into leasing a model 3 in a couple of months. A couple of friends have told me about the possibility of leasing with doering. I heard you can lease used teslas as well. I was wondering if anyone has leased with doering and if you did was the price higher than Tesla or lower. Also, would leasing a used tesla be cheaper as it is a lease so I don't need the newest model. Have a great day!

 

[jjrandorin]

Leasing used cars in general is normally a HORRIBLE HORRIBLE HORRIBLE idea. I am not going to get into all the "why is that" but the TL ; DR version is, that process is almost always targeted at people who dont know how leasing works, and who cant afford the car any other way, which is a recipe for getting completely, utterly 100% "owned" on the financial part of that.

Note that I am not an "anti leasing" person, as I leased BMWs for the past 15 years before, and used to advise people online on how to ensure they were getting a good deal on the BMW lease they were contemplating.

As far as leasing used cars though, do not do it, dont contemplate it, its a horrible idea.

 

[Double-O]

Leasing "in general" is not a bad idea.

Leasing requires a lot more knowledge of how leasing works than just financing a car and getting a low interest rate.

Wasn't aware leasing a used car was an option but if it is, there are definitely some basic knowledge of how leasing works.

Car dealers will primarily lead with the question "what kind of monthly payment are you hopin for or can afford?" Answering this is like shootin yourself in the foot. Ignore that question all together. There's a lot to know about leasing which you can research yourself and find out but the only thing I can suggest is don't put any money down. If they tell you they need something, anything, drive off fees, etc.... they're lying. If they are really trying to make a deal, it can be done. When I've leased in the past, I've never put any money down n drove off with 0 out of pocket cost. Today's market n how the industry is obviously could be very different as it is a seller's market. Next thing to calculate is (and this is just a general idea) the monthly payment. Ideally, if you get a payment that is around 1% of the cost of the vehicle with taxes included, it's a pretty good lease deal for the buyer. 20k car = 200/mo taxes included, 3yr lease. Again, this is just a general rule of thumb as there are many other factors to consider when leasing.

Leasing is a great option for people who have great credit, don't wanna put any money down and like the idea of borrowing a car for a short set period of time. If you're provided a warranty for the duration of the lease, a used lease may be worth your while. If not and the terms are bad too, run.

 

[UncertainTimes]

probably better to rent one through Hertz long term

 

[jjrandorin]

Leasing "in general" is not a bad idea.

Leasing requires a lot more knowledge of how leasing works than just financing a car and getting a low interest rate.

Wasn't aware leasing a used car was an option but if it is, there are definitely some basic knowledge of how leasing works.

Car dealers will primarily lead with the question "what kind of monthly payment are you hopin for or can afford?" Answering this is like shootin yourself in the foot. Ignore that question all together. There's a lot to know about leasing which you can research yourself and find out but the only thing I can suggest is don't put any money down. If they tell you they need something, anything, drive off fees, etc.... they're lying. Next thing to calculate is (and this is just a general idea) the monthly payment. Ideally, if you get a payment that is around 1% of the cost of the vehicle with taxes included, it's a pretty good lease deal for the buyer. 20k car = 200/mo taxes included, 3yr lease. Again, this is just a general rule of thumb as there are many other factors to consider when leasing.

Leasing is a great option for people who have great credit, don't wanna put any money down and like the idea of borrowing a car for a short set period of time. If you're provided a warranty for the duration of the lease, a used lease may be worth your while. If not and the terms are bad too, run.

Im trying to figure out what you disagreed with me about (the downvote), because I agree with everything you said. I said leasing USED cars is a bad idea, not "leasing cars is a bad idea". I even stated that I am not anti leasing, and had several BMW leases in the past.

Since you are not "aware of leasing used cars" perhaps you dont know what type of companies do that. Its never through the captive finance arm of the manufacturer (so BMW finance does not offer leasing of used BMWs, neither does toyota motor credit offer leasing of used toyotas, etc). Its always a third party, and ends up looking a lot like a "buy here / pay here" type of car place.

 

[Double-O]

Im trying to figure out what you disagreed with me about (the downvote), because I agree with everything you said. I said leasing USED cars is a bad idea, not "leasing cars is a bad idea". I even stated that I am not anti leasing, and had several BMW leases in the past.

Since you are not "aware of leasing used cars" perhaps you dont know what type of companies do that. Its never through the captive finance arm of the manufacturer (so BMW finance does not offer leasing of used BMWs, neither does toyota motor credit offer leasing of used toyotas, etc). Its always a third party, and ends up looking a lot like a "buy here / pay here" type of car place.

You're right. I overlooked the "used." Was eager to respond I guess lol

Removed.

 

[jjrandorin]

You're right. I overlooked the "used." Was eager to respond I guess lol

Removed.

Thanks for the explanation

Im not going to remove the posts because I am posting "as myself" not "as a mod" and a regular user wouldnt be able to remove their post, so I am leaving it there, but I do appreciate the explanation.

 

[Double-O]

Thanks for the explanation

Im not going to remove the posts because I am posting "as myself" not "as a mod" and a regular user wouldnt be able to remove their post, so I am leaving it there, but I do appreciate the explanation.

I meant i just removed the thumbs down that's all.