MitsuStyle - View Single Post

**Trogdor** · 10-26-2012

The one thing I could highly advise you look at on a lease is what your loan on the buy out would be. Some companies way over value what their cars will be worth after your lease, making them difficult to buy for the same monthly payments when you're lease is up. With a company like Mitsu the make an effort to use realistic residual values. Assuming I get a decent rate, my buy out will actually drop $48 a month.

But if a company over values their residuals and you end up doing like 35% lease and 65% buy out your buy out loan is either going to require a large sum of money down or a longer loan payment to be at the same price. You don't want to end up leasing for 3 years, then taking out a loan for another 5 just to keep your payments the same.

TBH, I don't know what Kia's leasing programs look like or how their residual values are calculated. But you wanna make sure to ask what percentage of the value of the vehicle the residual is vs. the percentage of the lease. If the gap is larger than 40:60, run.

Also, just an FYI, because Suzuki is offering the 0% for 72/m on new ones, their lease program is almost non-existent. With that offer, you're payments are nearly the same, or better (depending on your credit and down payment) if you take the special financing. I wouldn't recommend leasing a new Suzuki.

10-26-2012	#13
Trogdor Join Date: Aug 2011 Location: Blaine Drives: people crazy Posts: 985	Re: Need New DD...~15k The one thing I could highly advise you look at on a lease is what your loan on the buy out would be. Some companies way over value what their cars will be worth after your lease, making them difficult to buy for the same monthly payments when you're lease is up. With a company like Mitsu the make an effort to use realistic residual values. Assuming I get a decent rate, my buy out will actually drop $48 a month. But if a company over values their residuals and you end up doing like 35% lease and 65% buy out your buy out loan is either going to require a large sum of money down or a longer loan payment to be at the same price. You don't want to end up leasing for 3 years, then taking out a loan for another 5 just to keep your payments the same. TBH, I don't know what Kia's leasing programs look like or how their residual values are calculated. But you wanna make sure to ask what percentage of the value of the vehicle the residual is vs. the percentage of the lease. If the gap is larger than 40:60, run. Also, just an FYI, because Suzuki is offering the 0% for 72/m on new ones, their lease program is almost non-existent. With that offer, you're payments are nearly the same, or better (depending on your credit and down payment) if you take the special financing. I wouldn't recommend leasing a new Suzuki.