New Car lease agreement

[MoseyInn]

Has anyone felt, when they got home and read over their car lease that they have been taken advantage of. Has anyone really read their lease agreement? I would like to hear from you.

[rjm1cc]

I would get the document in advance and read it. I would also tell them that I will read any documents presented at the signing if I have not read them before. I had a room full of attornies spend a day waiting for me to read their last minutes documents. They had to close, I did not.
Point is read before you sign.

[SFSkol]

I ran an automobile finance division for a bank in the 90's. With the upfront payments into consideration, you would be amazed at the equivalent APR that's charged.

Leasing is a viable alternative for certain people without a sizeable down payment. Since you never own the car you have no or negative equity at the end. Once you lease you lease forever,

Ripped off, I doubt it, leasing rates are highly competitive.

I am not sure if Fl has a buyers remorse law.

[MoseyInn]

I ran an automobile finance division for a bank in the 90's. With the upfront payments into consideration, you would be amazed at the equivalent APR that's charged.

Leasing is a viable alternative for certain people without a sizeable down payment. Since you never own the car you have no or negative equity at the end. Once you lease you lease forever,

Ripped off, I doubt it, leasing rates are highly competitive.

I am not sure if Fl has a buyers remorse law.

That is a good point - I will have to check that out. It got very confusing from what we started with to what we ended up paying . So many added fees - it was very confusing.

[MoseyInn]

That is very, very smart advice. Unfortunately I did not do that and ended up with a real mess. Unfortunately I signed the agreements and not I am having a big problem figuring out the inflated price I am paying

[EPutnam1863]

We leased three times before, and we will never do it again. It is too hard and expensive to get out of it. The last time we leased, the car turned out to be not meeting our needs, so we traded it in for anther car and had to pay $6,000 to get out of the lease.

Another thing we learned is that if the dealer tries to entice you into accepting their discount, it may mean a higher interest rate because the lender wants their discount money back.

[JoMar]

Had a couple high level financial folks use the rule that if the asset is an appreciating asset...buy it. If it is a depreciating asset.....lease it. All dependent on your personal cash flow and availability of course. I stopped leasing when I started keeping cars longer than 3 years. Because I put a lot of miles on a car I also had the mileage increased in the contract. It has been a long time so I don't have a clue what what the contracts are these days but have a couple neighbors that do lease.