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Momentum Chevrolet in San Jose is running TV ads advertising 2017 Volts for $129/Mo on a 36 month lease with $4995 down plus tax and license. The ad also says 60 are available. I bought my loaded Gen 2 Volt last Nov. and haven't leased a car in 30 years, so I have no idea if this is a good deal or not.
 

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So instead of 0 down and ~$280/mo ya want to pay ~$5.5k down and $130/mo? Your call. Leases are not for me.

If you're gonna pay for 1/4 of the car in cash why not just buy it?
 

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Momentum Chevrolet in San Jose is running TV ads advertising 2017 Volts for $129/Mo on a 36 month lease with $4995 down plus tax and license. The ad also says 60 are available. I bought my loaded Gen 2 Volt last Nov. and haven't leased a car in 30 years, so I have no idea if this is a good deal or not.
Just to help you out, put down as little as possible on a lease. As a general rule when leasing, don't pay anything down other than fees (if any) and first month's payment.
 

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I've never leased a car... so I don't know the ins and outs of it (drive way too many miles for it to be cost effective)

But for my 2017 I ordered, I'll be trading in my 2012 Kia rio, putting 5K down and financing the rest... probably doing 72mo, but paying double or perhaps triple payments for the first year to pay it off much faster (and still have flexibility should some financial crisis pop up) Odds are after the first 12 months I'll have the bank reamortize (recalculate) based on all the extra principal paid off and it will lower my payments to around $200/month, and I own it! No worries about miles or damage or anything like that.
 

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Discussion Starter #5
So instead of 0 down and ~$280/mo ya want to pay ~$5.5k down and $130/mo? Your call. Leases are not for me.

If you're gonna pay for 1/4 of the car in cash why not just buy it?
I wasn't asking if that was a good deal for me. I was just putting it out there for anyone who might be considering a lease. I owned a Spark EV that I traded in on my Gen 2 last Nov. and had the cash to make up the difference so I could own the Volt outright. I am much more comfortable having the pink slip to what I drive and see little difference between leasing a car and renting one. Leasing obviously works for some folks, just not me.
 

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I've never leased a car either. Seems the trap is unless u turn it around for another lease or purchase at the same dealer, they will find ways to hammer you on fees when you return it.

That fiat 500e lease of $100/mo was tempting though...
 

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Man, so many non-lease people on one thread, it's as if the greenback troll movement is gaining momentum. $0 down $280 per month, or $5k down and $130 per month, or 100% down and $0 per month? Decisions, decisions...
 

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I understand leasing a car, if you trade in cars every 3 years anyway it makes more sense to lease. What I don't understand is renting a house or apartment rather than purchasing a home. I pay much less in mortgage payments per month than it would cost me to rent the same home I am in, and every payment I make is equity in my pocket. If I sell my house just for what I owe on it, plus the amount of my down payment (less than half it's open market value) I will "only" have saved 34,000 over what I would have spent to rent the same house over the last 14 years.

Back to the lease, it only makes sense to lease if you plan on leasing your next car and the next and the next... the best lease deals go to people who are trading in a lease on a new lease.

Keith
 

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I bought a house in Aug of 2009. Mortgage was for $270k, 5.75%. I've refi'd twice since then, and the current interest rate is 3.375%. House value plummeted and is now worth around $230k. Still owe $243k on the mortgage.
So if I had rented this whole time, I would be out ~$108k with nothing to show for it.
As it stands now, I'm still out 108k, but am at least $13k underwater as well.
Hmm.....at least I can do whatever I want to the house I guess.
 

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Good starting price...Understand that is NOT the out the door price...Base/optionless LT has been reported to sell with the out the door price with down payment and month payments of $8500...Generally that's $1500 drive off (out the door) and in cali you get $1500 back for a total of $7K total...

Many on here don't understand leasing, in almost every circumstance a CHEAP lease for the highly depreciating Volt is a better financial decision...Lease guarantees you have options if a life event happens; accident? turn it in and not deal with the $5K-$10K depreciation hit
 

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What's the maximum mileage on that $129 lease? Low cost leases are available for under 30k miles but that may lessen your enjoyment of the car if you are worried about the odometer.
$129 a month for 36 months plus $5k is still less that $10k total. Not bad. A dealer here in Detroit started advertising a 279 lease which with down payment adds up to $11k at the end of 3 years, 30k miles. These are both no option cars. I think more low cost leases will come soon.
We did OK on our 2013 lease but I wouldn't do it again. 36 months to the day after you drive off you are standing on the sidewalk hoping they give you a good deal on a new Silverado or something. That's a lot of bargaining power you have thrown away.
I think leases are a throwback. 40 years ago people were wanting to run away from a car after 3 years. Now cars last 10 years. Pay it off and have some extra cash in your pocket.
 

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Many on here don't understand leasing, in almost every circumstance a CHEAP lease for the highly depreciating Volt is a better financial decision...Lease guarantees you have options if a life event happens; accident? turn it in and not deal with the $5K-$10K depreciation hit
Um, the lease is the depreciation hit - the finance companies many money off people in the process. There are many here who do understand leasing. Sure some folks who got $199 deals in 2012 are really happy that they got a screaming deal compared to buying, but there there are plenty to bought at near MSRP or leased before the great $5K price drop who are stewing about depreciation compounded with a price drop and the expected discount of the fed tax credit.

On the flip side of being able to walk away from your car after 3 years, you are also somewhat handcuffed to the car for 3 years. Not everyone's life changes in 3 year increments. Twins or triplets, a new job with a longer commute, etc. can all throw a monkey wrench into leasing plans. And as AtomicPowered mentioned, you lose the ability to be patient with your replacement car while looking for the deal of the century. there are many on this forum who got heavily discounted Volts from 2013 to 2015 as demand dropped in anticipation of gen2. And fees for exceeding mileage limits and wear and tear on the car can become painful. You've got to weigh the good with the bad, and decide for yourself whether you want to play. The biggest con (which some see as a pro) is that it allows someone to get into a much more expensive car than they can normally afford trying to drive a Cadillac on a Hyundai budget.
 

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I understand leasing a car, if you trade in cars every 3 years anyway it makes more sense to lease. What I don't understand is renting a house or apartment rather than purchasing a home. I pay much less in mortgage payments per month than it would cost me to rent the same home I am in, and every payment I make is equity in my pocket. If I sell my house just for what I owe on it, plus the amount of my down payment (less than half it's open market value) I will "only" have saved 34,000 over what I would have spent to rent the same house over the last 14 years.

Back to the lease, it only makes sense to lease if you plan on leasing your next car and the next and the next... the best lease deals go to people who are trading in a lease on a new lease.

Keith
Renting buys you patience to choose a house in a good neighborhood and allows you to save a big enough down payment to avoid PMI, while buying a house hedges against rising annual rent increases. Just like trading in cars every few years, people who trade houses often keep raising their tastes, maying fees to realtors, and moving the end date of when you have no more payments further into the future. For those who lease cars continually, they will lease forever. The finance companies love you as you are keeping their pockets lined with profits.

Folks in the military who are constantly moving often make the mistake of buying a house knowing full well they will move, get stuck owning a house that they cannot sell if the location is stone cold in terms of house sales. Conversely, places that are white hot are difficult to move out of as you're next house might outpace the value of your current house.
 

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I bought a house in Aug of 2009. Mortgage was for $270k, 5.75%. I've refi'd twice since then, and the current interest rate is 3.375%. House value plummeted and is now worth around $230k. Still owe $243k on the mortgage.
So if I had rented this whole time, I would be out ~$108k with nothing to show for it.
As it stands now, I'm still out 108k, but am at least $13k underwater as well.
Hmm.....at least I can do whatever I want to the house I guess.
Doing some math, looks like you paid down your mortgage by 27K over 6.5 years of ownership, so comperable to $346 a month (plus a couple hundred since payment is not all equity) so for conveniance with later numers call it $587 a month. Take out another 40K for loss of equity from boom/bust cycle nails you for another 513 a month. So your total outlay is $1100 a month including the equity dump... if you could have rented the same house for less than that per month, then yes in the short run you would have come out ahead being a renter... in the long run, even if the housing market doesn't recover AT ALL you will still come out ahead owning the house.

Keith
 

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Momentum Chevrolet in San Jose is running TV ads advertising 2017 Volts for $129/Mo on a 36 month lease with $4995 down plus tax and license. The ad also says 60 are available. I bought my loaded Gen 2 Volt last Nov. and haven't leased a car in 30 years, so I have no idea if this is a good deal or not.
it is the same as zero down and $269 per month
no reason to put $5,000 down on a lease
otherwise it is a very "normal" lease deal
 

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What's the maximum mileage on that $129 lease? Low cost leases are available for under 30k miles but that may lessen your enjoyment of the car if you are worried about the odometer.
$129 a month for 36 months plus $5k is still less that $10k total. Not bad. A dealer here in Detroit started advertising a 279 lease which with down payment adds up to $11k at the end of 3 years, 30k miles. These are both no option cars. I think more low cost leases will come soon.
We did OK on our 2013 lease but I wouldn't do it again. 36 months to the day after you drive off you are standing on the sidewalk hoping they give you a good deal on a new Silverado or something. That's a lot of bargaining power you have thrown away.
I think leases are a throwback. 40 years ago people were wanting to run away from a car after 3 years. Now cars last 10 years. Pay it off and have some extra cash in your pocket.
10K miles, you can prepay upfront, one person reported they got 20K miles/year...I think it's like $6/mo to go 10K/year to 12K/year



There are many here who do understand leasing. Sure some folks who got $199 deals in 2012 are really happy that they got a screaming deal compared to buying, but there there are plenty to bought at near MSRP or leased before the great $5K price drop who are stewing about depreciation compounded with a price drop and the expected discount of the fed tax credit.

On the flip side of being able to walk away from your car after 3 years, you are also somewhat handcuffed to the car for 3 years. Not everyone's life changes in 3 year increments. Twins or triplets, a new job with a longer commute, etc. can all throw a monkey wrench into leasing plans. And as AtomicPowered mentioned, you lose the ability to be patient with your replacement car while looking for the deal of the century. there are many on this forum who got heavily discounted Volts from 2013 to 2015 as demand dropped in anticipation of gen2. And fees for exceeding mileage limits and wear and tear on the car can become painful. You've got to weigh the good with the bad, and decide for yourself whether you want to play. The biggest con (which some see as a pro) is that it allows someone to get into a much more expensive car than they can normally afford trying to drive a Cadillac on a Hyundai budget.
I'll share the leasing process that not everyone understands...Whatever price you negotiate will be the same whether you purchase or lease unless there's a specialized incentive ($500 lease conquest won't apply to when you purchase)...I lease and read my lease agreement, GM Financial allow you to negotiate your buy out...You may actually be able to lease then buy out at a cheaper net price than overall purchasing...Get into an accident, turn it in, don't get into an accident? Buy it at turn in cheaper...
 

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10K miles, you can prepay upfront, one person reported they got 20K miles/year...I think it's like $6/mo to go 10K/year to 12K/year





I'll share the leasing process that not everyone understands...Whatever price you negotiate will be the same whether you purchase or lease unless there's a specialized incentive ($500 lease conquest won't apply to when you purchase)...I lease and read my lease agreement, GM Financial allow you to negotiate your buy out...You may actually be able to lease then buy out at a cheaper net price than overall purchasing...Get into an accident, turn it in, don't get into an accident? Buy it at turn in cheaper...
Except if you were unlucky enough to lease through ally, then the buyout was horribly overpriced making it fiscally impossible to do anything but turn it in.
 

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I bought a house in Aug of 2009. Mortgage was for $270k, 5.75%. I've refi'd twice since then, and the current interest rate is 3.375%. House value plummeted and is now worth around $230k. Still owe $243k on the mortgage.
So if I had rented this whole time, I would be out ~$108k with nothing to show for it.
As it stands now, I'm still out 108k, but am at least $13k underwater as well.
Hmm.....at least I can do whatever I want to the house I guess.
You'd be surprised at what's happening in the housing market over the past year. I bought my house in 2013 - was $110k @ 4.5% (housing is cheap in TX for something nice) currently owe 94k on it, and the value has actually risen about 30K if I were to sell not including the improvements I've done (epoxy garage floor for the win)

This is my first house I've ever bought - but for regular people who buy a house to live in and not as a money maker, the ebbs and flows of housing market dont' really matter as long as you set yourself up properly budget wise going into it. Values can rise just as fast as they fall depending on the market. Like others have said, for what people pay in rent they can usually lock down a mortgage, and build equity along the way. Unless you are constantly on the move renting is quite literally throwing money out the window. I love knowing each payment I make puts money back in my pocket at a future date :)
 

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You'd be surprised at what's happening in the housing market over the past year. I bought my house in 2013 - was $110k @ 4.5% (housing is cheap in TX for something nice) currently owe 94k on it, and the value has actually risen about 30K if I were to sell not including the improvements I've done (epoxy garage floor for the win)

This is my first house I've ever bought - but for regular people who buy a house to live in and not as a money maker, the ebbs and flows of housing market dont' really matter as long as you set yourself up properly budget wise going into it. Values can rise just as fast as they fall depending on the market. Like others have said, for what people pay in rent they can usually lock down a mortgage, and build equity along the way. Unless you are constantly on the move renting is quite literally throwing money out the window. I love knowing each payment I make puts money back in my pocket at a future date :)
Yeah, at least with a house, the value *should* go up at some point in time, unlike a car with will always keep going down. I'm hoping by the time we are ready to sell (within 5 years), we will at least be able to break even after all selling fees and stuff are subtracted.
 
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