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Old 01-15-2014, 05:30 AM   #11
speedlever
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Re: 2014 Sport Lease

How about the dings and flaws from everyday usage? Won't that have to be repaired or considered at turn in time?
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Old 01-15-2014, 05:46 AM   #12
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Cool Re: 2014 Sport Lease

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Originally Posted by speedlever View Post
How about the dings and flaws from everyday usage? Won't that have to be repaired or considered at turn in time?
Rick, most (if not all) leases have a clause for "normal wear and tear".

If beyond normal wear is exhibited then a penalty is incurred just as in excessive mileage.

The lessee is also responsible for maintenance, insurance and fuel.
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Old 01-15-2014, 07:00 AM   #13
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Re: 2014 Sport Lease

Good to know. I've never been a fan of a lease. But I'm sure there are situations when they are appropriate, if properly setup.
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Old 01-15-2014, 10:25 AM   #14
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Re: 2014 Sport Lease

I can now see why leasing is an attractive option for some. A premium on the total costs of perhaps $1000/year could be worth the while for the freedom to walk away in case of boredom or needs changing. This would be in the same manner as many are willing to pay for a large vehicle's fuel costs in order to have the same safety margin in case of collision.

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The lessee is also responsible for maintenance, insurance and fuel.
Since this lease is only for the main part of the factory warranty, I think that the dealer should be willing to include one item with the lease that is high-margin in some places: all maintenance that is required for the warranty or advised by the vehicle's Maintenance Minder.
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Old 01-15-2014, 10:27 AM   #15
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Re: 2014 Sport Lease

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The pay out is .409 cents per mile. IOW $.41 per mile not .4 cents.

If you stay within the mileage you will not get hurt.
First off I've never leased a vehicle. So I know very little about a lease.

Say you are 5,000 miles over by the end of your lease. If you opt to buy the vehicle do you still have to pay the mileage penalty?
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Old 01-15-2014, 02:45 PM   #16
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Re: 2014 Sport Lease

My next RL which will most likely be a 2014 will be a 24 month lease just in time for the next gen RL. Won't have to worry about selling or depreciation. Don't want to be stuck with the old gen but have the option to buy if I want to keep. Will decide then. A bit more costly but peace of mind. 24 months, with only oil changes which are free for 3 years at my dealer and gas then drop off to dealer. My plan anyways.
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Old 01-15-2014, 02:49 PM   #17
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Re: 2014 Sport Lease

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Originally Posted by AG87BlkLX View Post
First off I've never leased a vehicle. So I know very little about a lease.

Say you are 5,000 miles over by the end of your lease. If you opt to buy the vehicle do you still have to pay the mileage penalty?
NO. You only have to pay the lease buyout price plus taxes applicable.
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Old 01-15-2014, 03:50 PM   #18
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Re: 2014 Sport Lease

Here is how I explained leasing to my three year old:

Lease = It is yours for the length of time/mileage in the lease. You are only buying a portion of the car.

Buy = The whole thing is yours you are buying the whole car.
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Old 01-15-2014, 04:06 PM   #19
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Re: 2014 Sport Lease

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Originally Posted by Black Prince View Post
Here is how I explained leasing to my three year old:

Lease = It is yours for the length of time/mileage in the lease. You are only buying a portion of the car.

Buy = The whole thing is yours you are buying the whole car.
With low interest lease rates, here's how I see it. If you have to borrow money to buy, then go with a lease and take the money you do have and invest in retirement. True that leasing is owning a portion but only paying for what was used is the way I look at it. But that's me. I have a tendency to believe that I may have a new car smell fetish... (no more details on that one) The day I buy will be the day I pay cash up front.
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Old 01-15-2014, 05:23 PM   #20
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Re: 2014 Sport Lease

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Originally Posted by MrNewEngland View Post

I added absolutely nothing to this discussion with that story.

...You put me out of a job !

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