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Lease or finance 124 spider ?
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Thread: Lease or finance 124 spider ?

  1. #1
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    Lease or finance 124 spider ?

    So what should I do lease or finance?
    I am looking to get a 124 lusso or abarth in auto , nav, Bose.
    My question what the better deal for the lower monthly payment.

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    Moderator map's Avatar
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    Will you be able to write it off as a business expense? If not, you should run the numbers to see what makes the best sense to you and there's a lot more than payment cost.

    With a lease you pay a down payment, monthly payments, and at the end of 3 years don't have a car. Check the contract closely. What happens if you must return the car early? (Costs vary, but there's an early return payment on top of the cost.) Is there a penalty if the residual value is lower than stated in the contract, and what other end-of-term fees could you owe? What if you have "excessive damage" or put on more miles than in the contract? When the contract period is over, you'll have the option to buy the car. Unfortunately, the purchase price is the residual value. If the car depreciates slowly, it's a good deal. If, like the 500e, they depreciated quickly, you'll find the residual double the car's current value. (Fiat won't negotiate on the price.) Also check if there's a penalty if the car suffers an accident and is repaired. People lease all the time, but I might have my attorney and/or accountant look at the contract.

    On the other hand, you don't have to worry about maintenance. Your payments are always(?) lower. You'll also save money because you are not allowed to modify the car and probably won't be taking your pet for a ride. You can also bail on a lease if the car is a lemon and probably lose less money than selling. The best part, you don't have to be upset getting a poor trade-in when you walk away.

    If you finance, you'll probably want a 60 month loan. Your warranty lasts 4 years, so that will give you breathing room. If you go longer your payments will be a bit lower but you may be "upside down" when the car should be traded. That's just my advice.

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    Well, thanks but i know about leasing. Due to previously selling INFINITI cars. Back to the topic at hand. I am as asking to see if you guys have had any good luck with leasing or would it just be better to finance.

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    Moderator map's Avatar
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    OK, simple answer: I bought

    1. Wanted freedom
    2. Cheaper purchase price
    3. Nightmare returns *some* 500e owners faced

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    Robert Nixon's Avatar
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    I've always bought cars, new and used, leasing doesn't make sense to me. Maybe if the monthly payment was the only thing I cared about or could afford, then I'd consider a lease, but for me it makes more sense to buy and actually own something, which includes having some equity in it to sell or trade in later. Most lease ads on TV seem to include at least $3000 down, but that doesn't seem to stop many people.
    2013 Rosso Abarth with 68K miles, Koni yellow shocks, Madness springs, Neu-f rear sway bar, EBC Yellowstuff brake pads, DOT4 brake fluid, K&N air filter, autocross 17 inch Ciao Milano wheels with Bridgestone Potenza RE71R, daily wheels stock 16 inch Dunlop DZ102. 2017 1st place HS Tidewater Sports Car Club: 2016-2015 1st Place TSCC GS class; 2014-2013: 2nd place in SCCA South Carolina Region G Stock.
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    The key is often the down payment on a lease. Some are huge and would add $150-200/month, except you pay UP FRONT!
    IF you can score a nothing down lease, consider it. IF you can't , make sure you consider the up front costs carefully.
    In certain cities, an extra ad valorem tax is levied on leases(no such tax on a purchase. It was $500 over the term of the lease on our RDX)
    I actually made a few bucks on our '13RDX when I traded at the end of the lease. I bought the car for the residual and it was worth a fair bit more. That was a zero down lease for three years and the RDX was in high demand at the end of the lease. Not sure that will ever be the case with a FIAT, sad to say
    Current vehicles:
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    Previous Fiats: 2015 500L Lounge; 1979 Strada

  7. The Following User Says Thank You to CoachRick For This Useful Post:

    Robert Nixon (08-09-2019)

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    Lifetime Member Lifetime Member Saponetta's Avatar
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    For a car to lease well, it's all on manufacture incentives. Money factor, inflatednresidual, etc. You can walk into a.mercedes dealer with 5k in your pocket for cash down and look at 2 different 85k models and the lease payments can vary by as much as 500, 600 dollars monthly based on how incentivised a particular.model is.

    I leased a gf a new slk years ago. Maybe 2008. All things being equal on terms, the 52k slk was like 30 bucks a month on 48 higher than a high 30s msrp class all in with taxes title, liscense.
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    Enthusiastically Slow Lifetime Member Ando's Avatar
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    Local dealer has my dream spec (Mare Blue / Saddle / 6MT) and 0.9% financing.

    124.jpg

    If I didn't know how hard the values tank I might already have it in my garage... Leasing is confusing to me and I know too much about the time-value of money to plonk down $3000 at signing on something I get no equity in.

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    I don’t think anything is wrong, you have a gfv so the leasing company handles it. Plus car makers should want to lease cars. Well at least in the luxury market they do.

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    Moderator map's Avatar
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    It's not just the down payment. Local dealers whack $4200 off the 124... money that the leasee pockets. On purchase, they have several rates, including 0% for 36 months, but that's $700 payments.

    I'd saved enough to pay cash for the 124 I wanted... just waiting for it to arrive. Then I drove the new 500. Practical, fun and I wouldn't have to empty the garage.
    Last edited by map; 08-09-2019 at 11:25 PM.

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