[Trife]

My lease is coming up on my 04. I am also due for a the next service which is almost $200. I was talking with someone and they said I can just get the oil change service done and it would be fine. Is this true? Anyone else have any experience with this?

Also my next car is the 07 GT in Phantom Blue

I love black but I cant take it anymore! Gets dirty too quick.

 

[ViperKillerWannabe]

You should look at the terms of your lease and decide if you need to do it. If you're unsure, you should probably do it anyway. They can penalize you for not maintaining it properly, and they may just try to come up with anything to get that penalty from you.

 

[rpn453]

Look in your owner's manual. It tells you exactly what you need to do and when to meet lease requirements. Don't do anything that's not in the book if you're not keeping it!

 

[Mazz]

Ive had 3 different leases. When i picked up my new car, just gave them the keys to the old.

Nobody ever looked or asked for my maintenance records. They walked around looking for dings & dents, & checking tires weren't bald. Had it idling, checked A/C & if radio worked. One car I had an aftermarket radio, which wasn't a problem. They check the mileage, & will charge u if its over the allotment on your lease papers.

I wouldn't even bother, nor bring it up.

One thing I did once, you may consider, I bought out the lease since it was less than blue book on the car (actually a 95 Silverado PU). Sold it within 2 weeks to a private party, netted about $800. I could have used it for a trade-in at the same value my new loan was for in the event I couldn't sell it. All depends on the numbers of course. I did this because I was way over on the mileage which would have cost me several thousand.

 

[alecshawn]

Leasing is NOT a good financial decision. Its like renting apts. Waste of money...You cant build equity or net worth that way. In the future please buy the car via cash or better yet a low rate loan. You'll be WAY better off in the long run. As for your question...NO do not do it. It will not be a required maint. PERIOD

 

[jdanielsg]

[quote author=alecshawn link=topic=71580.msg1260155#msg1260155 date=1173564181]
Leasing is NOT a good financial decision. Its like renting apts. Waste of money...You cant build equity or net worth that way. In the future please buy the car via cash or better yet a low rate loan. You'll be WAY better off in the long run. As for your question...NO do not do it. It will not be a required maint. PERIOD
[/quote]

So true, cash upfront for everything house, cars etc. Do not even keep a balance on my credit card, just use it as a payment method. But the thing is most people cant afford, so they lease or rent or whatever.

 

[Mazz]

[quote author=alecshawn link=topic=71580.msg1260155#msg1260155 date=1173564181]
Leasing is NOT a good financial decision. Its like renting apts. Waste of money...You cant build equity or net worth that way. In the future please buy the car via cash or better yet a low rate loan. You'll be WAY better off in the long run. As for your question...NO do not do it. It will not be a required maint. PERIOD
[/quote]

Leasing is a VERY GOOD option if you use it largely for business, normally write off most if not all of your mileage, your payments, & get a new car every few years. Very few people can or do do this, & if you can't, then you're correct. This usually falls in line with owning a biz, and treating the car as a depreciable business expense. You'll never get any equity or net worth out of a car unless it is a collectible, which I've also owned, & profited over $60K when sold. This again, is rare. Cars & boats depreciate way too fast to be considered as any real equity or net worth. In reality, they're just disposables. The real problem is many people who can't afford the higher monthly loan payment get talked into a lease by the dealership. At the end of the lease, they've got no trade-in to negotiate, & usually pay outrageous charges in over-mileage fees. If you're the kind of person that gets a new car every 2 or 3 years, can keep it low mileage, than a lease isn't bad compared to a loan that you may be upside down in.

 

[DrWebster]

[quote author=alecshawn link=topic=71580.msg1260155#msg1260155 date=1173564181]
Leasing is NOT a good financial decision. Its like renting apts. Waste of money...You cant build equity or net worth that way. In the future please buy the car via cash or better yet a low rate loan. You'll be WAY better off in the long run. As for your question...NO do not do it. It will not be a required maint. PERIOD
[/quote]

I totally agree, even if you sell the car in a few years, the depreciation hit you'll take will often be less than what you paid into the lease.

And specifically, buying a 3 (instead of leasing) is a great idea. I paid $19k for my 3 one year (and 8,000 miles) ago, and I just ran a KBB value check on it. KBB says my car would retail on a dealer's lot for $21k. Even if I sold it private party, I would end up either having made money, or not paid any on this car.

 

[drinkduff77]

You would never get more than 17k for it. KBB is way off on these cars. Why would anyone pay the same for a one year old car w/ 8000 miles as a brand new one? The only way to know for sure would be to put it up for sale and see what you get. I have a feeling it would sit for a long time if you waited for an offer of KBB.

 

[alecshawn]

[quote author=DrinkDuff77 link=topic=71580.msg1268409#msg1268409 date=1173930016]
You would never get more than 17k for it. KBB is way off on these cars. Why would anyone pay the same for a one year old car w/ 8000 miles as a brand new one? The only way to know for sure would be to put it up for sale and see what you get. I have a feeling it would sit for a long time if you waited for an offer of KBB.
[/quote]
Yep...Ive seen where 04's with just 40k is going for 12-13k at dealers...Meaning a private party sale is going to be at most 10-11k.

 

[HouRman]

Leasing can be good or bad.

Until you try it and realize the benefits and costs you realize that it's not as bad people say it is...

 

[Trife]

thanks for the replies. i went ahead and just did the oil change service.

as for the lease comments, i run a small business and write off the car as a business expenese.

 

[Mazz]

[quote author=Trife link=topic=71580.msg1273165#msg1273165 date=1174152887]
as for the lease comments, i run a small business and write off the car as a business expenese.
[/quote]

:lol: Hilarious.

Love advice where people who probably have no idea what capital amortization, asset depreciation, or even profit/loss write offs on schedule C for a business owner is, let alone consultation from business accountants, banks, and financial advisers give, then make blanket statements like leases are bad. :?

 

[alecshawn]

[quote author=Mazz link=topic=71580.msg1273325#msg1273325 date=1174162185]
[quote author=Trife link=topic=71580.msg1273165#msg1273165 date=1174152887]
as for the lease comments, i run a small business and write off the car as a business expenese.
[/quote]

:lol: Hilarious.

Love advice where people who probably have no idea what capital amortization, asset depreciation, or even profit/loss write offs on schedule C for a business owner is, let alone consultation from business accountants, banks, and financial advisers give, then make blanket statements like leases are bad. :?
[/quote]
Leases ARE bad. Period. Schedule c is NOT for expenses...Its for non taxed earnigs. Anyways, Renting apts. or leasing is NOT a good financial decision..period.

 

[Trife]

i've never had a thread hijacked before. it tickles.

 

[alecshawn]

[quote author=Trife link=topic=71580.msg1273412#msg1273412 date=1174166936]
i've never had a thread hijacked before. it tickles.

[/quote]
Isnt it great!!! Its so funny how all these unmanly men on here get thier panites in a wad over nothing!! :lol: Some people are sooo uptight and clueless...Unfortunately many lurk here. :?

 

[Mazz]

[quote author=alecshawn link=topic=71580.msg1273396#msg1273396 date=1174166192]
[quote author=Mazz link=topic=71580.msg1273325#msg1273325 date=1174162185]
[quote author=Trife link=topic=71580.msg1273165#msg1273165 date=1174152887]
as for the lease comments, i run a small business and write off the car as a business expenese.
[/quote]

:lol: Hilarious.

Love advice where people who probably have no idea what capital amortization, asset depreciation, or even profit/loss write offs on schedule C for a business owner is, let alone consultation from business accountants, banks, and financial advisers give, then make blanket statements like leases are bad. :?
[/quote]
Leases ARE bad. Period. Schedule c is NOT for expenses...Its for non taxed earnigs. Anyways, Renting apts. or leasing is NOT a good financial decision..period.
[/quote]

why don't you go lurk on some thread where you may know something that you're talking about & can contribute positively.

Schedule C is for expenses & profit/loses in a sole proprietorship. Matter of fact, line 9 & 20 is where you put in your lease payments & other vehicle expenses. If you lease, and are in business, you can write off every dollar of the payment plus mileage & maintenance. You cannot do this if you have a loan, period, because it is then treated as an asset & real property.. In a nutshell, that is why just about every businessman leases rather than buys. Like I said before, you have no idea on a profit/loss statement, which you just proved, or any of the other benefits of leasing vehicles for a business owner. All you can say is they are bad period, but you offer no reasons.

If you're going to argue this asinine point, bring it on, you are the clueless one, obviously you have never owned a business, & your response makes me wonder if you have ever even paid taxes. Go get educated.

Until then, go away troll.

 

[alecshawn]

[quote author=Mazz link=topic=71580.msg1273453#msg1273453 date=1174168928]
[quote author=alecshawn link=topic=71580.msg1273396#msg1273396 date=1174166192]
[quote author=Mazz link=topic=71580.msg1273325#msg1273325 date=1174162185]
[quote author=Trife link=topic=71580.msg1273165#msg1273165 date=1174152887]
as for the lease comments, i run a small business and write off the car as a business expenese.
[/quote]

:lol: Hilarious.

Love advice where people who probably have no idea what capital amortization, asset depreciation, or even profit/loss write offs on schedule C for a business owner is, let alone consultation from business accountants, banks, and financial advisers give, then make blanket statements like leases are bad. :?
[/quote]
Leases ARE bad. Period. Schedule c is NOT for expenses...Its for non taxed earnigs. Anyways, Renting apts. or leasing is NOT a good financial decision..period.
[/quote]

why don't you go lurk on some thread where you may know something that you're talking about & can contribute positively.

Schedule C is for expenses & profit/loses in a sole proprietorship. Matter of fact, line 9 & 20 is where you put in your lease payments & other vehicle expenses. If you lease, and are in business, you can write off every dollar of the payment plus mileage & maintenance. You cannot do this if you have a loan, period, because it is then treated as an asset & real property.. In a nutshell, that is why just about every businessman leases rather than buys. Like I said before, you have no idea on a profit/loss statement, which you just proved, or any of the other benefits of leasing vehicles for a business owner. All you can say is they are bad period, but you offer no reasons.

If you're going to argue this asinine point, bring it on, you are the clueless one, obviously you have never owned a business, & your response makes me wonder if you have ever even paid taxes. Go get educated.

Until then, go away troll.
[/quote]
WRONG!!! again fool, If you "own" via a loan or cash.You most certainly CAN deduct mileage. IF you are using ALL those deductions that you listed that means they are more of a total than the standard deduction. If thats the case your business is in the red and your welcoming an audit.

 

[Mazz]

[quote author=alecshawn link=topic=71580.msg1273687#msg1273687 date=1174181153]
WRONG!!! again fool, If you "own" via a loan or cash.You most certainly CAN deduct mileage. IF you are using ALL those deductions that you listed that means they are more of a total than the standard deduction. If thats the case your business is in the red and your welcoming an audit.
[/quote]

Yea, sure, I'm wrong. Owned 4 biz's over 28 years, never been in the red, never been audited. Sure anyone can deduct mileage. BFD, go get your pennies on the mile. Try to right off your car payment, you can't. Because you've made it into an asset that will fall into a depreciation schedule. This is exactly what leases were structured for. And conversation of capital. And equity to debt ratios. And increased borrowing potential thru banks for your business needs. And what do you think is a 'standard' deduction on a schedule C?

Keep to your 1040 short form with your standard deductions, you have no idea what you're talking about.

 

[alecshawn]

[quote author=Mazz link=topic=71580.msg1273734#msg1273734 date=1174182712]
[quote author=alecshawn link=topic=71580.msg1273687#msg1273687 date=1174181153]
WRONG!!! again fool, If you "own" via a loan or cash.You most certainly CAN deduct mileage. IF you are using ALL those deductions that you listed that means they are more of a total than the standard deduction. If thats the case your business is in the red and your welcoming an audit.
[/quote]

Yea, sure, I'm wrong.  Owned 4 biz's over 28 years, never been in the red, never been audited.  Sure anyone can deduct mileage.  BFD, go get your pennies on the mile.  Try to right off your car payment, you can't.  Because you've made it into an asset that will fall into a depreciation schedule. This is exactly what leases were structured for.  And conversation of capital.  And equity to debt ratios. And increased borrowing potential thru banks for your business needs.  And what do you think is a 'standard' deduction on a schedule C? 

Keep to your 1040 short form with your standard deductions, you have no idea what you're talking about.
[/quote]
Wrong again....Owning IS always better than leasing..Period. As far as your business..GAY porn does not count. opcorn: You own a business ALL those years and drive a lowly mazda 3? SURE...