LEASING

[ggc]

This may be of interest. I did not lease my Viper. I would have assumed a lease on a 99 GTS with 2000mi, but someone beat me to it. The deal was an assumption: The lease payment was pretty steep, but it only had 12 months to go with a purchase option at 35K. I saw it at swapalease.com. Just a thought.

There are companies which specialize in leasing new and used exotic cars, including Vipers. They are probably on the net.

 

[ElDiablo Viper]

Get a DuPont Registry for cars. There is many leasing companies that would leas you 10 years old Lambo

 

[Bonkers]

Remember though too that gap coverage isn't an exact science. Dealerships promote it as a way to protect yourself from the catastrophic but I have heard some horror stories associated with it.

Also DuPont Registry is a great place to look but I agree with Boss that some of the deals are a little ridiculous. I recently read an ad for a GTS lease of $1100/m for 60 months with $5k down and 5000 miles per year.

'nuff said?

A lease is a great way to if you play your cards right and either don't drive the car often or far (or plan on keeping it forever.) My $27k Impala new costs me $300/m on lease with a 50% buyout due this December. It will save me over $3000 vs. the original purchase price.

I've even seen Dealerships offering slightly used RTs for around $600/m on lease (shame GMAC screwed me over and my credit is now shot or I’d have that one. But that’s a post for a different topic.) Hope it helps.

BjB

 

[ElDiablo Viper]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Bonkers:
Summery: Bought a newish Yukon ($22k) and lost my job a month later. Asked GMAC to defer a month and forgive a month (no money to pay having just spent savings for down payment) they said sure no problem. 64 days later I called them said I'll have a payment on Friday and will be caught up by end of month. They hired a repo man later that afternoon and had the truck in their possession by Friday morning. Said I can have the truck back if I could pay three payments (two original months plus that months) plus $500 for repo fee by the 30th. The 27th came, I had certified check in hand, went to repo station and the truck was already shipped to NC for auction. Called NC to hold truck but it had never arrived. Called GMAC they said they didn't think I could come up with the cash so they sold it first chance they had for $8k. Now I have $14k balance to pay and lost my job because I had no SUV to haul equipment the 150 mile commute. Oh another auction company apparently sold the truck in SC. I'm currently paying the minimum on the balance until I can find a lawyer with enough balls to fight beside me in court...been waiting awhile now. I have a feeling the son of some GMAC CEO is enjoying my precious Yukon GT down at Myrtle beach.

No job, no credit, viper fever...I should just shoot myself.

<HR></BLOCKQUOTE>

WoW and thought that I had problems. Sorry to hear that.

 

[Scott J]

BOSS:

You may have unknowingly answered your own question when you said LEASE then PURCHASE!! If you truly plan to purchase the vehicle at lease end then do not lease. You are much better served by financing the car at the onset and living with the higher monthly payments.

It makes absolutely no sense to lease a used vehicle. The simple math clarifies this argument [readily available in any book store or on the Net]

I personally would not lease a vehicle unless I have the ability to expense the monthly premium. You are paying to borrow and do not build equity in the same manner that traditional financing provides. For this reason, I lease one of my vehicles as a Business Write-Off and can justify the lease from an overall tax stand-point.

 

[V10 MOJO]

I personally think leasing is a good idea, but its to be determined case by case. I leased my 1999 silver rt10 new off showroom floor through one of my businesses, so everything i put into it is writeoff and expense. this summer, i complete lease and will buy out remaining balance to purchase car, so for me, my viper actually helped save some taxes. also, since i leased, if i decide i want to go with the gen three 2003, no problem, lets face it, no matter what direction, a car is not an investment for the most part, unless your jay leno, BTW payments are 1100/mo nothing down

 

[YellowSnake]

Differnet strokes for differnet folks, but I wouldn't lease unless you own your own company and can write it off.

 

[Bonkers]

Summery: Bought a newish Yukon ($22k) and lost my job a month later. Asked GMAC to defer a month and forgive a month (no money to pay having just spent savings for down payment) they said sure no problem. 64 days later I called them said I'll have a payment on Friday and will be caught up by end of month. They hired a repo man later that afternoon and had the truck in their possession by Friday morning. Said I can have the truck back if I could pay three payments (two original months plus that months) plus $500 for repo fee by the 30th. The 27th came, I had certified check in hand, went to repo station and the truck was already shipped to NC for auction. Called NC to hold truck but it had never arrived. Called GMAC they said they didn't think I could come up with the cash so they sold it first chance they had for $8k. Now I have $14k balance to pay and lost my job because I had no SUV to haul equipment the 150 mile commute. Oh another auction company apparently sold the truck in SC. I'm currently paying the minimum on the balance until I can find a lawyer with enough balls to fight beside me in court...been waiting awhile now. I have a feeling the son of some GMAC CEO is enjoying my precious Yukon GT down at Myrtle beach.

No job, no credit, viper fever...I should just shoot myself.