Vehicle Leasing: Thanks!

» DennisL - Thanks!

Kirk, Al, Steve, KLR,

Thanks for your input. If your opinions regarding leasing are representative of the public's at large, it's pretty negative. I hope I won't regret my decision.

What you say about buying a car cash and paying yourself, or paying yourself after you have paid the car off are true. Having a car payment works for me, though, because I had one before (that was actually a little higher than my lease payment) and was still able to continue the same saving and investment program that I have on for so many years. At the end of the three years, if I decide then that leasing is not for me, I will buy the car or another car cash. I already have the money in the bank to do that.

KLR: Thank you very much for the link to leasetips.com. After reading through the site, I went through my lease contract, which is with GMAC. The contract looks clean and kosher. There are an "administrative fee" and a "rent charge" that I may have been able to negotiate had I read leasetips.com first. So be it. Chalk it up to "tuition."

Also, I watched the segment on getting out of a lease on KRON a few minutes ago. It mentioned two Web sites where people can swap leases, thereby bypassing dealers' early termination penalties. The sites are:

http://www.leasetrading.com

http://www.swapalease.com

Kirk: Thanks again for running this site, which has been a very important source of information for me. I am most happy to click on your sponsor links daily...8-)

-- posted by DennisL