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Leasing Cars
- Thread starter RightCoastBias
- Start date
- Joined
- Jun 19, 2002
- Location
- Walnut Creek
- Moto(s)
- Monica Sweetheart!!!!
- Name
- Berto
- BARF perks
- Barf Racer
Yeah, be the leasing company and use the depreciation!
stan23
Well-known member
yep, and i've helped quite a few people buy cars/bikes. I'm one of those negotiators that dealers don't really like working with since I come armed with information. As mentioned, there has been more than once that I was offered jobs at car dealers on the spot when i was buying a car.
I've probably personally bought/sold over 50 vehicles in the last decade.
That's waaay too advanced for me. I would be interested in getting a fleet of cars on turo. I know what the market likes.
stan23
Well-known member
What I meant is lease a new Tesla Model X P100D MSRP $140K, probably $3000 month with no down. Rent it out on Turo for $400 bucks a day (and that's a good deal!). At lease end, sell it back to Tesla (do not turn it in!!) If you live remotely close to an airport, you would probably have the car out for rental 3 days out of the week.
There are guys with 4-5 teslas. Of course, you can't guarantee rental, and the Turo thing is still a little grey, but if you have the capital and can afford the lease payments, go for it. It's not a bad way to make some extra cash.
JesasaurusRex
On a break
Typed in RNO for shits n giggles
on a side note, i'm guessing you need some 3rd party insurance to cover your "renters". Doesn't sound all too fool proof to me if somebody wrecks your car
stan23
Well-known member
Typed in RNO for shits n giggles
on a side note, i'm guessing you need some 3rd party insurance to cover your "renters". Doesn't sound all too fool proof to me if somebody wrecks your car
Turo is the 3rd party insurance. They cover your car 100%. I've rented from guys with 5-6 cars doing this as a side gig. Apparently there are folks in LA with 20-30 cars.
stan23
Well-known member
easter bunny
Amateur Hour
Never heard of Turo but I used something similar in the past. I typed in SFO. Found a half dozen Teslas for about $200/day. That would probably still pay for the car plus some. I'm sure the early adopters made a good buck.
RightCoastBias
F8TRED
Just beginning looking at new cars now and going to have to go through this thread again and try to make some sense of it all.
We're considering both buying and leasing, depending on the vehicle. I'd like to buy a German car, but no way I'd buy one, lease for sure.
We're considering both buying and leasing, depending on the vehicle. I'd like to buy a German car, but no way I'd buy one, lease for sure.
Search this in google "2017 <Your Make and Model> Lease Questions site:edmunds.com"
It should take you to a thread on their forum where they'll have this months money factor + residual + other users deals to help you shop. I found out the base interest on a lease for the car I'm looking at was .00151 while the dealership initially offered me a markup of .00191
It should take you to a thread on their forum where they'll have this months money factor + residual + other users deals to help you shop. I found out the base interest on a lease for the car I'm looking at was .00151 while the dealership initially offered me a markup of .00191
RightCoastBias
F8TRED
Awesome, thank you for that.
RightCoastBias
F8TRED
So how does this thing work when I sell the leased car back to the dealer?
Is the MF and residual value listed in my lease contract somewhere? Got to try and dig that up, hopefully it didn't get lost in the move.
If I go off of what's on Edmunds at the time we bought our car, MF is .00160 and a residual value of 63%. Doing the math, that is about our payment with the cost of the car.
Residual value when we're done with it in a few months is just about 20k.
Is the car of value to another dealer? One that I may want to purchase/lease another car from? Or just Subaru?
Is the MF and residual value listed in my lease contract somewhere? Got to try and dig that up, hopefully it didn't get lost in the move.
If I go off of what's on Edmunds at the time we bought our car, MF is .00160 and a residual value of 63%. Doing the math, that is about our payment with the cost of the car.
Residual value when we're done with it in a few months is just about 20k.
Is the car of value to another dealer? One that I may want to purchase/lease another car from? Or just Subaru?
- Joined
- Jun 19, 2002
- Location
- Walnut Creek
- Moto(s)
- Monica Sweetheart!!!!
- Name
- Berto
- BARF perks
- Barf Racer
Good find.
stan23
Well-known member
Just like different kinds of BMWs, Teslas scale significantly depending on the model you have. That's why a P100X with ludicrous will always rent much higher.
1. Yes, the MF and residual is clearly outlined in your contract.
2. Yes, every dealer will offer different prices for your car. I've had GREAT luck selling my car to DGDG buy center, and Beepi (now defunct, but there are similar options such as Shift and Vroom) I would also check with Carmax, and KBB's instant offer.
All of the above except for Carmax you'd have to physically drive there.
One thing to note, what is the condition of the tires? If anything less than 4/32, I would consider switching them out. Car dealers generally lowball HARD on worn out tires or any car that requires any type of work in order for them to re-sell. Clean it up, make it presentable, and you'll get top dollar.
I've gotten a KBB instant quote for my car, but then when I show up with my vehicle, they gave me more $$ because of how clean it is. I've also been told from Beepi when they bought my car, that it's the cleanest they have ever had on their site. They gave me $500 less than what I paid for my car new on a one year old, 10K mile WRX.
One thing to note. Selling your car, and buying a new one is 2 separate transactions! Don't make it one. That' the easiest way to lose money.
Sell your car FIRST. Then go lease/buy the new vehicle separately.
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stan23
Well-known member
If you are remotely even thinking of a GT car, get your allocation now! However, i'm probably a lot less patient than most folks. I can't wait 2-3 years for a car. Life is too short.
Aeroslash
Paddywhack
- Joined
- Nov 16, 2012
- Location
- San Francisco
- Moto(s)
- Current: '14 FZ-09. Sold: '99 R1 ; '07 Buell XB9sx
- Name
- Adam
This thread has peaked my interest in picking up a Lease Swap later this year.
How does this Fusion Energi look to the experts on here?
https://sfbay.craigslist.org/eby/cto/d/2016-fusion-energi-se-assume/6246681821.html
Original Sale price isn't provided, but is my thinking that this can provide 2 years/24k miles of driving for $0.23 per mile sound? (This is assuming $1k payment to seller and the monthly payment @ $200 inc. tax.
2 years of driving a fuel sipping hybrid for $5600 seems like a good deal. Even better if there is some equity in the vehicle at the end of the lease.
Thoughts?
How does this Fusion Energi look to the experts on here?
https://sfbay.craigslist.org/eby/cto/d/2016-fusion-energi-se-assume/6246681821.html
Original Sale price isn't provided, but is my thinking that this can provide 2 years/24k miles of driving for $0.23 per mile sound? (This is assuming $1k payment to seller and the monthly payment @ $200 inc. tax.
2 years of driving a fuel sipping hybrid for $5600 seems like a good deal. Even better if there is some equity in the vehicle at the end of the lease.
Thoughts?
madsen203
Undetermined
If you can make use of the carpool sticker...seems like a deal for you. Make sure the lease transfer cost is negotiated with seller if there is one.
And a disposition fee?
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stan23
Well-known member
You need to ask the seller the OTD cost of the car, and residual amount at the end of the lease. I assume you're looking to turn it in at lease end. Make sure the car is in good shape prior to making any deals, as you'll get dinged for any damage at lease end.
Also it seems ford motor credit, still puts the lease originator in lease take over contracts. Not a big deal for you, but this may be unknown for him.
RightCoastBias
F8TRED
Started test driving cars this past weekend, so the process has finally begun.
The info in this thread was very helpful and lead me down the right path to what to research.
The Edmunds lease info in their forums was probably the most valuable.
Currently shopping vehicles with good MF and residual value, found a few vehicles with great reviews I honestly wouldn't have considered and it took some vehicles out of the running I was considering.
Finding that some more expensive/nicer vehicles would cost us less than ones more in our price range if we were buying.
Thanks to those that helped!
The info in this thread was very helpful and lead me down the right path to what to research.
The Edmunds lease info in their forums was probably the most valuable.
Currently shopping vehicles with good MF and residual value, found a few vehicles with great reviews I honestly wouldn't have considered and it took some vehicles out of the running I was considering.
Finding that some more expensive/nicer vehicles would cost us less than ones more in our price range if we were buying.
Thanks to those that helped!