Im getting D*cked on my cobalt lease!

So i pay 505$ a month for my SS, when i first got it they were like " you can finance any time" so i go to refi it and they wanna hit me with an assload of fees. super gay =(

 

tell them to f. and buy my car.

 

That sucks man. If you are still looking to do the trade we talked about pm me.

 

you pay $505/mo on a lease? O.o

 

Damn...

 

basically im stuck paying everything

 

yeah 505$ on a LEASE 48/ months

 

$505 on a lease ! Holy lord. My best friend pays $500 on his GTO with 0 down. I pay $360 with 0 down. You must have terrible credit, or a short lease with a lot of miles.

Anywho anytime you refinance anything there are charges involved. It is not free. So you aren't getting dicked around.

 

wow.. over 24,000 you're going to pay for a cobalt, then you have to give it back??????? what in the hell were you thinking???

 

there are alot more fees then he mentioned initially. he made it seem like i could just walk in and get it refied any time and the payments i put towards the car would also be put towards my downpayment. and i put a 1000 down.

1000 down, 48 month lease
12000miles/ year.

nothing spectacular.

I had some negative equity tagged on + i add lojack, tax tag and title, and interior exterior and tire warrantys.

 

so it gets worse... over 25,000 for a 22,000 car that you can't keep...

 

Dude I hate to say it. They seen your ass coming from a mile away. I bet that salesmen busted a nut all over your contract. a 48 month 12k a year lease should be $300 or so. Then again negative equity can really jack things up. Who in the hell purchases the tire warranty

You live you learn my man. You got burned !

 

wow you pay 505 to lease? You could be making payments on that thing to own for about 100 less.

 

dude, i'm not tryin to make fun of you or anything like that, so i hope you don't take it the wrong way... but next time take someone with you that knows what they're doing.... if you decide to buy this car, it will cost you well over 30,000 after you refinance it... that's a crock of ****... you just made this guys month... you're payin out the ass for a car, and he took his wife out to a fancy dinner at your expense... i know negative equity sucks, but ****... 505 for a cobalt is insane... if you waited a little bit untill you were back in the black, you could have gotten the same deal with trade in i bet for 300/month...

 

its free tire and rim replacement, bad roads here in orlando, and pirellis get expensive.


yeah i got screwed. i got much to learn its ok though. I will buy it out at the end. i just ended up paying a shitload more for my car then i had to.

 

how much are these fees they're asking from you?

 

buying it out in the end would be the worst idea. Your car will have depreciated to such an extent at that point there would be no point of buying it out. Especcially since you already paid during the lease more than the total cost of the vehicle. Do yourself a favor and get out of that lease as soon as a lease pull ahead arrives.

 

And this is why anyone with half a brain knows you never ever lease a car. Its a trap, plain and simple. Its the same as renting an apartment, you are not earning anything when you pay monthly rent/lease payments. Get out of leasing ASAP and save yourself a lot of money in the future.

 

That is a very untrue statement. Leasing works awesome for me. I get a car for 2 years then go get a new one. I don't have to worry about selling it and I never pay full price. Over the 3 years that I opted for this lease I will only have paid 11,500. As opposed to paying 23k for a car over a 5 year period and then selling it for 10 grand at the end of the 5 year period. It all depends on your habits and what suits you.

 

This is entirely true. For someone who drives a lot of miles and keeps their cars a long time (until they are paid off) or can make a large cash down payment to end up with a low payment and/or short loan buying will usually be a better bet.

But for people who like to trade cars a lot and don't drive a whole lot of miles, you're often better off leasing. There's also the benefit (at least here in Missouri and I would assume other states where you have to pay PPT on vehicles) of having your personal property tax amortized into your payment rather than having to pay it out of pocket.

Leasing isn't exactly like renting an apartment, because an apartment isn't a depreciating asset. When you lease a car, you are actually paying a payment based on the residual value of your vehicle (the value at the end of the lease).

My boss used to get on me about leasing and about how I never "owned" anything. Well, he had a 4-Runner, that he then traded a couple years later on a Tacoma (4- Runner not paid off - negative equity added to the loan), that he then traded like a year later on a VW Passat Wagon (with 4-Runner not paid off, negative equity from both the 4-Runner and Tacoma, ending up with gigantic payments from three vehicles rolled into one and he has never "owned" any of them. If you didn't make the last payment, and traded with negative equity you never owned it.

If you trade every couple of years without paying off the loan, depreciation will eventually eat you alive (unfortunately, this is especially true for those of us who are American car enthusiasts).

 

Yeah, I buy either a new car ever year, or a different car every year. Sometimes 2 in the same year. My payment is outrageous, but I knew that getting into it and therefore don't complain about it. I like cars ALOT. I think I may stick with this one though, it makes me happy inside.

 

That is why I paid cash for my 06 SS/SC.

 

I will stick to leasing. But like myself and victory said it is all about what suits you. The only cars I buy are used. At least then I know I am the one that determines what I get back on them. For the most part anyhow.

 

yikes! im 19 and im financing mine for 330 a month on my own credit!

 

Is that price Canadian funds ?? No can't be, that would still be over $ 100/month too high. Just for the hell of it, how much was your monthly for the LS ?