lease to own?
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Thread: lease to own?

  1. #1
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    lease to own?

    im interested in the optima turbo sx with the premium. sticker is like 31 somthing. with usaa i would be paying 27k. teh lady was bascically telling me i should lease the car for 3 years to get a lower monthly payment. she said if i decide to keep the car after 3 years i would be financing a lower amount. so it would basically be lease to own. would this be worth it at all. i really just talked to her on the phone and do not know anything about buying a new car. leasing sounds to good to be true, if that was teh fact everyone would lease to own instead of financing.

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  3. #2
    "VILE K5"
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    I have never leased a car before always bought. I just can see renting a car. Just my opinion.

  4. #3
    Learner's Permit Wankel's Avatar
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    I leased for 3 years, im still debating on keeping it, but yes you would be paying about the same if not a lower monthly payment after the lease is up. Its also a lower monthly than purchasing. YES it costs you more in the long run and YES you are making payments longer (depending), but I think its worth it. If there's no more problems I MIGHT purchase, but I like the idea of leasing because once im 3 years in, I usually start to look for something new anyways. If you think about it, its the same as renting an apt., you will never own the apt. and you cant afford to purchase a house, so its really not a bad deal.

  5. #4
    Learner's Permit BlackonBlack's Avatar
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    595 acc fee to lease and the money factor is not much better than most interest rates. 600 to have a free out after 39 months, you make the call.
    '12 SX Touring/Tech Ebony Black
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  6. #5
    Lot Attendant osbornk's Avatar
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    If you lease the car and buy it at the end of the lease, you would be the second owner. The power train warrant does not transfer to the second owner.
    2011 Spicy Red EX with Premium Package

  7. #6
    Lube Tech molina67's Avatar
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    IMO If you know that you will get a new vehicle in three years then it is better to lease, but if you want a title don't lease.

    2012 Kia Optima SX (Spicy Red) Premium package-build date 10/14/2011
    2012 Kia Forte Koup SX, (Racing Red) - build date Feb 2012
    2010 Chevy Traverse (Silver) (Traded for Forte Koup)
    2009 Pontiac G8 (Trade it for the Optima)

  8. #7
    Learner's Permit Wankel's Avatar
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    Quote Originally Posted by osbornk View Post
    If you lease the car and buy it at the end of the lease, you would be the second owner. The power train warrant does not transfer to the second owner.
    You sure about that? I find it extremely hard to believe they wouldn't honor the warranty even if you were technically the second owner.

  9. #8
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    Quote Originally Posted by osbornk View Post
    If you lease the car and buy it at the end of the lease, you would be the second owner. The power train warrant does not transfer to the second owner.
    I bought my '11 used , with 17k miles on it and have the remainder of the 60,000/5year BTB warranty as well as a fresh 10year/100k limited warranty as mine was Certified Pre-Owned.

  10. #9
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    Leasing is the better option in my opinion. I sold cars years ago and I always had an easy time convincing buyers to lease. First of all, unless you are paying cash and getting the title on the spot, there is absolutely no difference in buying vs. leasing! In both cases you have a lien holder (i. bank/finance company). The nice thing about a lease is at the end of the lease (after you paid thousands less than you would have over a 3 year period with a loan) you have options. You can buy it out, you can trade it in, you can sell it on your own. All of this can be done after 3 (whatever term you chose 36/39/42) years. The other nice thing is that you drove the car and you know whether its worth purchasing at the end of the lease. Typically the buyout is in-line if not a little more than what you could buy the same car for on the used market (big difference is you don't know the history on that other used car- you know the history on the one you are driving). Another nice feature about leases is something called "gap insurance". If you total a car you purchased your insurance company is going to pay you what they think the car is worth. Lets say you owe $25K on it and the insurance states they will only give you $20K for the totaled vehicle- guess what, you are coming up with the other $5K out of your pocket just to pay it off! With a lease they (KIA Finance) pays that difference.
    Lastly, never worry about mileage restraints unless you plan to walk in at the end of the lease and hand them the keys (and walk home). If you plan on trading, buying, selling the car at the end of the lease you will not pay mileage overage fees (now obviously your vehicle will be worth less if you trade, or sell with high miles). As others have said though, if you think you are going to save money if you buy at the end, you probably are not. The best question for you to ask yourself is Do you think you will own (want to own) the car for more than 5 years- if the question is NO, then leasing is probably your best option!
    Example:
    39 month lease on an SX =$375/ mnth
    60 month Finance (Buy) SX =$500/ mnth
    Savings $125/ mnth

    At the end of 39 months you can start over and have saved $4,875!!!
    At the end of 39 months you may or may not have equity! (highly doubtful that you have the above in positive equity!!)

    For those of you saying you would never "RENT"- once again, if you have a payment, you are RENTING AS WELL!!!

  11. #10
    OptimaForums Veteran XxHaimBondxX's Avatar
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    Whether you're buying or leasing, always remember to negotiate the actual price of the car. You will have 3 years to think about buying the car out at the end, but how you negotiated the car on day one will depend how much you will have to pay at buy out.
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