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Ended car lease early - what do I lease now?
07-04-2018, 04:26 AM
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#91
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aware me on op setting his hair on fire
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07-04-2018, 04:46 AM
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#92
07-04-2018, 05:30 AM
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#93
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07-04-2018, 05:39 AM
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#94
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Originally Posted By LinuxJon⏩
Official unbelievable roll bread commentI just called the dealer and spoke to finance to confirm what people are saying here.
Holy fuk I'm screwed.
Nobody explained to me you have to keep the car 3 years regardless of mileage. So now I've got to pay a $.15 per mile overage for the next 18 months, which is going to be something like $5400 when I turn the car in. I swear this isn't how the salesperson explained it to me. I feel like there's no way they can legit enforce this. I'm also pissed b/c I was looking forward to going and trading the car this weekend for like the last month. I even ran up the miles just to get it past 36k
Holy fuk I'm screwed.
Nobody explained to me you have to keep the car 3 years regardless of mileage. So now I've got to pay a $.15 per mile overage for the next 18 months, which is going to be something like $5400 when I turn the car in. I swear this isn't how the salesperson explained it to me. I feel like there's no way they can legit enforce this. I'm also pissed b/c I was looking forward to going and trading the car this weekend for like the last month. I even ran up the miles just to get it past 36k
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07-04-2018, 05:44 AM
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#95
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LOL bro you made me laugh so hard with this post. I feel bad for you RN but omg I couldn’t breathe for like 5 minutes. Thank you bro this was gold lmao best of luck boyo
Originally Posted By LinuxJon⏩
I just called the dealer and spoke to finance to confirm what people are saying here.
Holy fuk I'm screwed.
Nobody explained to me you have to keep the car 3 years regardless of mileage. So now I've got to pay a $.15 per mile overage for the next 18 months, which is going to be something like $5400 when I turn the car in. I swear this isn't how the salesperson explained it to me. I feel like there's no way they can legit enforce this. I'm also pissed b/c I was looking forward to going and trading the car this weekend for like the last month. I even ran up the miles just to get it past 36k
Holy fuk I'm screwed.
Nobody explained to me you have to keep the car 3 years regardless of mileage. So now I've got to pay a $.15 per mile overage for the next 18 months, which is going to be something like $5400 when I turn the car in. I swear this isn't how the salesperson explained it to me. I feel like there's no way they can legit enforce this. I'm also pissed b/c I was looking forward to going and trading the car this weekend for like the last month. I even ran up the miles just to get it past 36k
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07-04-2018, 07:45 AM
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#96
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Nobody is this f*cking stupid so it's obviously a roll attempt.
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07-04-2018, 08:46 AM
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#97
Originally Posted By Postmort3m⏩
You're talking about a guy who tried to domesticate a raccoon.Nobody is this f*cking stupid so it's obviously a roll attempt.
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07-04-2018, 09:58 AM
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#98
Originally Posted By LinuxJon⏩
Did you really not know how a lease works?Got a Subaru Legacy just over a year ago on a 36 month or 36,000 lease. Just passed over the 36k mark (drive a ton for work), so now I need to decide what to get when I go turn the car back in this weekend.
I'm seriously considering an Outback for more space. I'm also considering a BMW X3, but the AWD version is pricey.
Requirements:
1. AWD / good in snow
2. 4 doors
3. Comfortable for long (300+ mile) drives
Reps for answers
I'm seriously considering an Outback for more space. I'm also considering a BMW X3, but the AWD version is pricey.
Requirements:
1. AWD / good in snow
2. 4 doors
3. Comfortable for long (300+ mile) drives
Reps for answers
Or you were playing candy crush when your salesman and finance guy was finalizing the deal and paperwork?
You can get out of the car, but you're going to spend a chit ton. Either way you're fukked.
But i think the penalty will be less if you eat the fees now rather than keep the car until the 3 years and having to pay the over mileage and wear and tear.
Normal wear and tear is exempt from leases unless the scratch/dents is over 1 inch if i remember correctly. Other than that, normal wear and tear are no fees.
So it might be best to get rid of the car now and eat the penalty, rather than keeping it and paying a higher penalty at the end of lease term.
I been through 2 leases before. Set up the appointment with your dealer to have it inspected IN FRONT OF YOU.
DO NOT, i repeat DO NOT just drop off the car at the dealer not knowing how the inspection went. That's how they make money. But tacking on the "wear and tear" even though they're lying, and you can't back up your innocence.
07-04-2018, 10:26 AM
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#99
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Originally Posted By LinuxJon⏩
I’m going to try to be as nice as possible...I just called the dealer and spoke to finance to confirm what people are saying here.
Holy fuk I'm screwed.
Nobody explained to me you have to keep the car 3 years regardless of mileage. So now I've got to pay a $.15 per mile overage for the next 18 months, which is going to be something like $5400 when I turn the car in. I swear this isn't how the salesperson explained it to me. I feel like there's no way they can legit enforce this. I'm also pissed b/c I was looking forward to going and trading the car this weekend for like the last month. I even ran up the miles just to get it past 36k
Holy fuk I'm screwed.
Nobody explained to me you have to keep the car 3 years regardless of mileage. So now I've got to pay a $.15 per mile overage for the next 18 months, which is going to be something like $5400 when I turn the car in. I swear this isn't how the salesperson explained it to me. I feel like there's no way they can legit enforce this. I'm also pissed b/c I was looking forward to going and trading the car this weekend for like the last month. I even ran up the miles just to get it past 36k
You are a potato for thinking that.
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07-04-2018, 10:36 AM
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#100
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I know OP is trolling, but if not you can't be this dumb knowing that you're lease will be rolled into you next one, especially if you have another two years, or you credit goes to chit if you bow out early.
It's not 36k miles or 3 years of which comes first. It's you can drive 36k miles in 3 years and if you go over you're responsible for the extra mileage you occur.
It's not 36k miles or 3 years of which comes first. It's you can drive 36k miles in 3 years and if you go over you're responsible for the extra mileage you occur.
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07-04-2018, 11:21 AM
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#101
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OP cannot possibly be this dumb....can he?
07-04-2018, 12:13 PM
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#102
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Originally Posted By LinuxJon⏩
This kind of stupidityactually angers me to no end.I just called the dealer and spoke to finance to confirm what people are saying here.
Holy fuk I'm screwed.
Nobody explained to me you have to keep the car 3 years regardless of mileage. So now I've got to pay a $.15 per mile overage for the next 18 months, which is going to be something like $5400 when I turn the car in. I swear this isn't how the salesperson explained it to me. I feel like there's no way they can legit enforce this. I'm also pissed b/c I was looking forward to going and trading the car this weekend for like the last month. I even ran up the miles just to get it past 36k
Holy fuk I'm screwed.
Nobody explained to me you have to keep the car 3 years regardless of mileage. So now I've got to pay a $.15 per mile overage for the next 18 months, which is going to be something like $5400 when I turn the car in. I swear this isn't how the salesperson explained it to me. I feel like there's no way they can legit enforce this. I'm also pissed b/c I was looking forward to going and trading the car this weekend for like the last month. I even ran up the miles just to get it past 36k
The fact that you didn't think you had to finish the length of your lease is really rustling me right now.
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07-04-2018, 12:34 PM
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#103
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Good Luck OP. You do have options, however.
1. Pay the $0.15/mile overage at the end of the lease
2. Pay the remaining Lease payments up front now.
3. Purchase the vehicle at the residual value at the end of the lease
4. Purchase the vehicle at the current residual value now. (This may or may not be an available option, check with dealer).
1. A lease you can deduct as a "business expense" there by reducing your taxable income.
2. Purchasing a vehicle puts the vehicle on your depreciation schedule and you can deduct the depreciation.
1. Pay the $0.15/mile overage at the end of the lease
2. Pay the remaining Lease payments up front now.
3. Purchase the vehicle at the residual value at the end of the lease
4. Purchase the vehicle at the current residual value now. (This may or may not be an available option, check with dealer).
Originally Posted By Fatkidwholifts⏩
Can one of you guys acting like lease/finance wizards explain why a business owner leasing a vehicle is a good idea?
Originally Posted By cobhc⏩
So your options here are:
1) Continue driving the car at the same rate and you'll have to pay an extra $5,400 at the end of the lease that you should be able to have SIGNIFICANTLY reduced if you get another Subaru.
2) Put the car in your garage and have the dealer call you when there's a buyback offer for early lease termination (They may not offer it in the next 19 months is a very real possibility). They'll take the car back early and put you in a new Subaru.
3) Negotiate a lease termination. This may not be successful because you have ZERO leverage besides putting the car in your garage and not driving it for a year and a half. The dealer essentially is going to want you to pay $7,200~ to terminate the contract but the problem with that, is your vehicle is only 17 months old and has not depreciated for 36 months yet. They may be able to work with you a little bit but you just put a whole ton of miles on that vehicle in a very short life and mileage will hurt the vehicles value too. This negotiation will always be easier if they can make money off of another vehicle they put you in.
Don't sign your name on anything again until you know THOROUGHLY what you're doing. You're lucky that this is a Subaru and not a more expensive car.
Tax deductions.
1) Continue driving the car at the same rate and you'll have to pay an extra $5,400 at the end of the lease that you should be able to have SIGNIFICANTLY reduced if you get another Subaru.
2) Put the car in your garage and have the dealer call you when there's a buyback offer for early lease termination (They may not offer it in the next 19 months is a very real possibility). They'll take the car back early and put you in a new Subaru.
3) Negotiate a lease termination. This may not be successful because you have ZERO leverage besides putting the car in your garage and not driving it for a year and a half. The dealer essentially is going to want you to pay $7,200~ to terminate the contract but the problem with that, is your vehicle is only 17 months old and has not depreciated for 36 months yet. They may be able to work with you a little bit but you just put a whole ton of miles on that vehicle in a very short life and mileage will hurt the vehicles value too. This negotiation will always be easier if they can make money off of another vehicle they put you in.
Don't sign your name on anything again until you know THOROUGHLY what you're doing. You're lucky that this is a Subaru and not a more expensive car.
Tax deductions.
Originally Posted By guest89⏩
Both are correct, however, there are tax deductions with both purchasing and leasing a vehicle.OP have you asked if they take cats as a form of payment?
Tax deduction as a business vehicle/expense. In general if your business shows a large profit your going to pay more taxes. If you have to 'spend' a large portion of the money you make on things like a company vehicle, advertising, 'work clothes', business dinners, etc. you'll pay less in the long run.
Ideally if you own a small business you want to show a small profit margin or perhaps even a 'loss'. I've run across a few people that tries to keep their business operating in the red.
Tax deduction as a business vehicle/expense. In general if your business shows a large profit your going to pay more taxes. If you have to 'spend' a large portion of the money you make on things like a company vehicle, advertising, 'work clothes', business dinners, etc. you'll pay less in the long run.
Ideally if you own a small business you want to show a small profit margin or perhaps even a 'loss'. I've run across a few people that tries to keep their business operating in the red.
1. A lease you can deduct as a "business expense" there by reducing your taxable income.
2. Purchasing a vehicle puts the vehicle on your depreciation schedule and you can deduct the depreciation.
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07-04-2018, 12:35 PM
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#104
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Originally Posted By litljay⏩
Exactly, a leased vehicle is a non-depreciating asset for the leaseeGood Luck OP. You do have options, however.
1. Pay the $0.15/mile overage at the end of the lease
2. Pay the remaining Lease payments up front now.
3. Purchase the vehicle at the residual value at the end of the lease
4. Purchase the vehicle at the current residual value now. (This may or may not be an available option, check with dealer).
Both are correct, however, there are tax deductions with both purchasing and leasing a vehicle.
1. A lease you can deduct as a "business expense" there by reducing your taxable income.
2. Purchasing a vehicle puts the vehicle on your depreciation schedule and you can deduct the depreciation.
1. Pay the $0.15/mile overage at the end of the lease
2. Pay the remaining Lease payments up front now.
3. Purchase the vehicle at the residual value at the end of the lease
4. Purchase the vehicle at the current residual value now. (This may or may not be an available option, check with dealer).
Both are correct, however, there are tax deductions with both purchasing and leasing a vehicle.
1. A lease you can deduct as a "business expense" there by reducing your taxable income.
2. Purchasing a vehicle puts the vehicle on your depreciation schedule and you can deduct the depreciation.
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07-05-2018, 10:14 AM
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#105
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Originally Posted By Seatard⏩
Hadn't considered this......If it gets stolen and set on fire then the insurance will pay off the lease.
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07-05-2018, 10:32 AM
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#106
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If you're doing 40K miles in like 1 year why wouldn't you just get a high MPG used indestructible chitbox like a Corolla and drive the fuk out of it.... rinse and repeat.
Then if you really wanted to embrace the vanity of having a nice car to drive then get another nice used weekender.
I knew a few people from my previous job that did this.
Then if you really wanted to embrace the vanity of having a nice car to drive then get another nice used weekender.
I knew a few people from my previous job that did this.
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07-05-2018, 10:38 AM
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#107
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Originally Posted By KILLdante⏩
To be fair... financial stuff and contracts are often made intentionally confusing and the people peddling the stuff can often be worse. I'd bet the average person doesn't even read the finer details on most stuff they sign.This kind of stupidityactually angers me to no end.
The fact that you didn't think you had to finish the length of your lease is really rustling me right now.
The fact that you didn't think you had to finish the length of your lease is really rustling me right now.
brb .... 4 legal length pages, back and front, and 6 point font.
brb .... every persons reaction .... "Fuk this chit...i aint reading that... can you explain it to me mr. car salesman?"
1. Turn around
2. Drop your pants
3. Bend over
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07-05-2018, 10:42 AM
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#108
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Isn't there like mileage limitations and you still have to pay for maintenance if you lease a car? It just all around seems like a huge scam and the company just gets the car back at the end. It seems I need to get into this business.
edit:
edit:
07-05-2018, 10:56 AM
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#109
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Originally Posted By Shufr0⏩
Unless you make $$, leasing a car is the worst way to own one. Currently getting 'fleased' myself right now.
Originally Posted By LieutenantGains⏩
literally potato people being influenced by the opinions of other morons.Leasing is literally flushing money down the toilet.
brb pay hundred of dollars for a car every month for 3 years
brb give it back to the dealer when you’re lease is up and get nothing in return lmaooooooo
Have had the same car for 9 years and am enjoying dat dere #nocarpayment life.
brb pay hundred of dollars for a car every month for 3 years
brb give it back to the dealer when you’re lease is up and get nothing in return lmaooooooo
Have had the same car for 9 years and am enjoying dat dere #nocarpayment life.
leasing the best way to go, its a business write off for me and usually turn in early because all my cars keep their value or more and get a brand new car every two years.
lol @ owning a piece of sh*t for 10 years only to pay repairs on it forever and then save up enough to buy another used sh*tbox after trying to sell your current sh*tbox for 3 months to private sellers and lowball offers.
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the only car I would personally buy is a pre 1993 911
07-05-2018, 11:06 AM
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#110
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Originally Posted By EnforcerOTF⏩
So you can't own a car and write it off for business? makessense.jpg.literally potato people being influenced by the opinions of other morons.
leasing the best way to go, its a business write off for me and usually turn in early because all my cars keep their value or more and get a brand new car every two years.
lol @ owning a piece of sh*t for 10 years only to pay repairs on it forever and then save up enough to buy another used sh*tbox after trying to sell your current sh*tbox for 3 months to private sellers and lowball offers.
nothx
the only car I would personally buy is a pre 1993 911
leasing the best way to go, its a business write off for me and usually turn in early because all my cars keep their value or more and get a brand new car every two years.
lol @ owning a piece of sh*t for 10 years only to pay repairs on it forever and then save up enough to buy another used sh*tbox after trying to sell your current sh*tbox for 3 months to private sellers and lowball offers.
nothx
the only car I would personally buy is a pre 1993 911
07-05-2018, 11:11 AM
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#111
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Originally Posted By faxanadu⏩
I really need AWD, so I had to do SubaruIf you're doing 40K miles in like 1 year why wouldn't you just get a high MPG used indestructible chitbox like a Corolla and drive the fuk out of it.... rinse and repeat.
Then if you really wanted to embrace the vanity of having a nice car to drive then get another nice used weekender.
I knew a few people from my previous job that did this.
Then if you really wanted to embrace the vanity of having a nice car to drive then get another nice used weekender.
I knew a few people from my previous job that did this.
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07-05-2018, 11:15 AM
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#112
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Originally Posted By LinuxJon⏩
You commute 40K in a year and need AWD? You do sierra nevada hippie excursions?I really need AWD, so I had to do Subaru
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07-05-2018, 11:18 AM
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#113
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Originally Posted By LinuxJon⏩
That's not how it works stupid.Why not? Run out the lease every 12-18 months and get a new car. Dunno why you'd take 3 years to drive all the miles.
07-05-2018, 11:19 AM
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#114
Originally Posted By LinuxJon⏩
You should!Hadn't considered this......
Insurance, and insurance fraud, is all about taking calculated risks. It's just basic math used to make a business decision.
Run the numbers and see what works for you.
07-05-2018, 01:06 PM
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#115
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Originally Posted By faxanadu⏩
Drive through the grapevine in winter a lot, and also into the seirra nevada's and Yosmite in the winterYou commute 40K in a year and need AWD? You do sierra nevada hippie excursions?
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07-05-2018, 03:37 PM
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#116
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Originally Posted By cobhc⏩
Tax deductions.
Originally Posted By guest89⏩
Yeah but business vehicles are deductible when purchased/owned too....you guys are making it sound as if leasing somehow equals a bigger deduction than purchased. Why is that?OP have you asked if they take cats as a form of payment?
Tax deduction as a business vehicle/expense. In general if your business shows a large profit your going to pay more taxes. If you have to 'spend' a large portion of the money you make on things like a company vehicle, advertising, 'work clothes', business dinners, etc. you'll pay less in the long run.
Ideally if you own a small business you want to show a small profit margin or perhaps even a 'loss'. I've run across a few people that tries to keep their business operating in the red.
Tax deduction as a business vehicle/expense. In general if your business shows a large profit your going to pay more taxes. If you have to 'spend' a large portion of the money you make on things like a company vehicle, advertising, 'work clothes', business dinners, etc. you'll pay less in the long run.
Ideally if you own a small business you want to show a small profit margin or perhaps even a 'loss'. I've run across a few people that tries to keep their business operating in the red.
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07-05-2018, 04:26 PM
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#117
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Originally Posted By Fatkidwholifts⏩
Edit: To put it simply, you can deduct your cumulative annual lease payments proportional to business use for tax deductions.Yeah but business vehicles are deductible when purchased/owned too....you guys are making it sound as if leasing somehow equals a bigger deduction than purchased. Why is that?
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RED BULL RACING
07-05-2018, 04:37 PM
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#118
- NuggzTheNinja
- Exotic Game Hunter
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- NuggzTheNinja
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Lease a car with a sunroof so you can ride around with your hair on fire.
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07-05-2018, 04:47 PM
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#119
- tng83
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- tng83
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Originally Posted By Shufr0⏩
I pay 350 a month for a 43000 dollar car and never ha e to replace tires, brakes, batteries, etc. Always under warranty too. Leasing is not a bad idea for people who likely wont pay off a car and see the title.Unless you make $$, leasing a car is the worst way to own one. Currently getting 'fleased' myself right now.
07-05-2018, 04:51 PM
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#120
- BrotherAndy
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- BrotherAndy
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lessee you light your hair on fire
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