Leasing will never be better then buying. How can you beat not paying interest when buying? A free loan...If you choose to buy after you leased, you have to pay all the interest on the car.

 

My car payment is 320, I have a 75k 7 year warnity. Insureance is dirt cheap for full coverage. I'm not paying intrest on the loan. How can it get any better then that?

 

well its costing me an extra like 2000 for leasing compared to financing, that would incluide to the day its all paid of, plus o get the option of letting it go after 4 years, and if GM tries F'in around, well i can tell them to keep the car (once i get the modds off that is) :-p

 

GMPP performance part warranty coverage has nothing to do with the fact that lease agreements have clauses in them against modifying the vehicle no matter WHERE the part comes from.

Id check that very carefully.

the quotes on the GM site talking about being covered when installed by GM is reffering to people who own the car.

Technically leasers do not own the car and are subject to the contract that is signed.

 

Yeah but people who finance the car dont technically own the car neither. Its gm credit, unless they go through a bank (higher interest rate) And poeple who lease its gmleaseco or something like that right?? either way, if u buy or finance you dont own the car technically.

So its all commes down to, the garage will want to fix your car either way, they get paid for fixing your car. I mean within reason. So warranty i dont think is an issue at all!

 

no. technically they DO own their car. thats where your missing the point.

when someone asks you do you "own or rent"
you say you own, even when your paying your morgage off.

the car belongs to you. you can do whatever the hell you want to it. there are no restrictions.
the only agreement you make is that you make your payments.

Leasing is an agreement that you must abide by.
theres alot more there than just making the payment

 

I understand, but why would they let you put a GMPP S2 on the lease agreement if they arent going to cover the warranty?? I know if have major prob with my car and they dont want to pay, I am going to tell them to F$&K off and keep the car, heck i got nothing to loose. All the modds are part of the lease agreement

 

Well i didn;t know that, but i understand what you where saying.... but then I was saying my point*

 

you will probably never have an issue.....but just be aware if the **** hits the fan and your engine blows a head gasket, they may look at your lease agreement and show you where it says "no engine modification"

 

Yeah i know what you mean, until something goes bad, everyone is happy right! But i am just saying if something goes bad, I dont care giving them the keys and telling them to keep the car. (hope that doesnt happend cuz i like this car) BUt i dont think they would do that if your not running smaller pulleys and different flash and stuff like that!

MY dad has a toyota tundra, and when he bought it they ( the salesmen and sales manager) said he had 108000KM warranty cuz he took extended warranty(it was a demo with 8000KM), so they wouldnt look at the first 8000 and start from the day of delivery. anyways now he's having prob and they are saying he only had 100000. Anyways i dont know what is going to happend, but he's not very impressed with the toyota.

 

the bank still owns it till theirs no lean left on it

 

I had zero down and it cost me the same to buy as to lease. They usually don't run much for offers on vehicles like the cobalt ss as they do alot of the more popular cars like impalas. My big problem is the mileage constraint, I don't want to worry about mileage.

 

How is it possible that it cost you the same price to lease than to finance. I mean lease you are only leasing the depression of the car for a certain term. When purcahsing you are financing the whole amount for a period of time. Unless u mean sale price of the car, but that will alwasy be the same, cuz the dealer gets paid whatever the trasaction price is. And if ure saying the same price but different term lenght, then thats not the same!!

 

Um actually they are both contracts you must abide by morgages can have clauses too

 

Yea. I know. I said it.

The REASON I said it is because when I sold cars people were extremely shocked and didn't understand why they had to pay sales tax on the entire purchase price of the car even though they weren't "buying it".

And last I knew, when you decided to keep the car, you didn't have to pay any taxes. You can't be taxed twice for something. But again, that may only apply in IL.

AAMOF, I found this a little while ago.... http://www.carbuyingtips.com/glossary.htm

Sales Tax: They usually tax the monthly lease payment at the local sales tax rate and add it to the base payment to get your total monthly payment. Check with the state to verify they are sending this full amount into the state or they could be in big trouble. Illinois & Texas dealers tax you on the full amount of the car, which is wrong, because you should only pay taxes on the portion you are using.

That may explain why you and I are saying different things.

 

So am I paying tax with every payment I make on my smartbuy? Also they already told me how much i have to pay at the end of my contract if i want to keep my car so do i have to pay sales tax on that?

 

Know you have a balloon payment at the end of your lease. It should say what that is in your contract. smart buys arent very smart i usually dont recommend it to my customers.

 

why aren't they any good?

 

yeah but the Clauses in something your financing to own are very very different to the clauses in something you lease.

and in effect when your financing to own your clauses are such that you have control over the said item as much as the item is "yours"

in a lease...the clauses are restrictive to the point where the vehicle is most definately NOT "yours"

 

it depends if you paid the tax up front or not. its not that there not that goog to use i would just rather see em do a regular lease, its just less Bull *****.

 

I find 0% financing to be better than a lease.

But maybe that is just me.

 

hmm i gotta go to my dealer within the next couple days anyway, im gonna talk to my sales rep and my service rep about all this, i'll let ya guys/gals know what they said, and i'll look it up on my lease agreement about modifications

 

To address this mis information about when you finance you don't own the car.

Leasing is renting a car from the person who owns it (the bank). They can dictate the what you do with the car because they hold the title, they own the car. To protect their interests and there asset the leasing company wants to prevent you from modifying or driving to many miles on the car because that decreases the value of there asset and thats not part of the deal.

Financing the car is getting a loan for the price of car that has collateral (your car) backing it up. They place a lien on your asset, this isn't a car specific concept, they have lien on property deeds if you own someone money.

You own the car and you can do whatever you want, all the financing company requires is insurance incase it gets wrecked. You hold the title which is legally ownership of the asset. Hell in NY they don't lease cars because leasing companies were being sued for accidents because they legally owned the car.

So technically and legally if you finance you own the car. If you lease it you don't own the car, you rent it from the owner under certain terms.

EDIT: I just read my financing contract, I have to keep the vehicle in good repair, not use it for hire or any illegal acts. I also have to keep insurance worth the value of the car, comp/collision/liability. Nothing about keeping it stock

 

Ahhh, Leasing vs Buying. My personal story and why I chose leasing.

I was a student, no job, $0 income, but positive balance in savings account.

Got a Cobalt on 3 year-lease because:
-3 year warranty.
-I figured I could use my savings account to pay for my Cobalt for 1 year, thus giving me breathing room to get a job.
-Cobalts were only on the market for 1 year, so wanted the option to dump the car if it was too unreliable.
-I realized that 3 years on, a Cobalt might not satisfy my utility needs, so I wanted the option to dump the car.
-I don't drive a lot and was planning to take good care of it, so in the end it might even be worth it to buy it out then sell it privately.
-I didn't know much about cars/car modding. 3 years is plenty of time to do research and decide what direction I want to take it in.
-I'm less prone to racing it.

-After 3 years, my income will be infinitely larger than it was when I bought it, thus, making it easier to buy it out.

As a result, for my situation, leasing was a better decision than financing.

 

Hahaha cant beleive it!! Exact same situation even to the I had mmoney to make payments for a year!! then I grad university so I can find a place to work and make the payments!! funny as ****!! I just plan on driving it a little harder than you because i cant help it,,, its just ssooo dman fun!!!