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Originally Posted by silverback
Just wondering, how many owners lease their cars. I am thinking of leasing a C-6, but not sure of the problems that occur within a lease. Any ideas, please respond. Thank you.
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There are a couple of problem inherent to leasing.
Mileage limitations, condition of vehicle at the end of the lease and modifications.
A lot of people lease, mod (cosmetics) and then convert the car back before turning the car in at the end of the lease.
Leases have mileage caps. If you're over at the end, they will ding you for them on a $$ per mile basis.
Most all leases expect "normal" wear and tear to a vehicle. Make sure you know what your lease company means by "normal" and how they access costs if not within thier parameters.
The UP SIDE to leasing:
Maintenance- All Leases I've ever seen, include routine and periodic maintenance as part of the package. As well, any major issues are covered and you simply return the vehicle for another.
TAXES: If you own a business, you can write off the entire cost of a lease vehicle. I thought about leasing for my business, but the mileage and potential for damage changed my direction.
Finally: Buy out. At the end of the lease you have the option of refinancing and purchasing the vehicle for various amounts. Most I've seen go with the current retail value of the car based upon year, make, model, condition and mileage.
Hope some of this is some use to you.