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Originally Posted by Shadow  hmmm, Maybe this will be my next option.I love the Jettas and have forever wanted one.
Ok, A question,Don't you have the option at the end of the lease to buy the car? If so what is usually the cost to do this. Do you get a loan for the lease. |
I don't know about in the US, maybe its works the same as in Canada. Here you can lease or buy, when you lease the monthly payments are about half of what they would be when you buy. Say the vehicle cost $30,000 if you buy your car the payments are divide to the cost equally each month. More expensive payments but at the end of the contract the car is yours.
But if you lease they usually base your monthly payment to only half of the cost of the vehicle, reducing the amount of the monthly payments in half usually. The other half of the amount due of the car is due the end of the lease eg. $15000. You can refinance at the dealer again or lender of your choice.
The problem is that when it comes to the end of the lease, you owe on your car way more than it is worth so most people end of taking that money and trading it in for a newer nicer car. Why owe so much on an older car, when you can have new again? But after years of leasing you spend tens of thousands of dollars and have nothing to show for it except a new car you are still making payments on.
I think of all the money my family has spent on leases and trading cars in to have newest and lastest ones and it is such a waste. We now buy only and have decided to invest our money on other more important things.