just lease/rental until you stop or swap cars ?

L

Member

Is this a lease-purchase option if you keep making payments or just lease/rental until you stop or swap cars ?

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May 4, 2020 7:20 AM

People generally lease cars because they prefer the flexibility of making only a three-year commitment and want less expensive monthly payments than if they bought an equivalent car. It often becomes less convenient and inexpensive if you want to exit from the contract early.


Returning the vehicle before the lease expires is an option, but not a good one. You’re still on the hook for all the remaining payments, plus substantial fees and penalties for early termination.

May 29, 2020 6:55 AM

A lease is always a good choice when using the car for Uber or Lyft. Having a nice shiny car every few years is nice and customers tip for nicer cars it seems.

Just be sure you don't have too low of a mileage restriction.

July 18, 2020 12:11 AM

The millage restriction might cost you. A friend of mine driving a lease for Uber over drove the car and ended up having to pay more each month because of it.

July 22, 2020 9:32 PM

While leasing is fine for some people, I think for others it ends up being a bad move. If you credit scores are lower, you end up paying more monthly for a lease just like you would to buy a car but only you end up having noting to show for it once the lease is up.

July 23, 2020 6:36 PM

Member

I think leasing is smart for a job like this. If something goes wrong, they will fix the car for you and give you a replacement so you are not without a working car. I drive my own car and have had to stop driving for several days to a week because it needed repairs.

July 23, 2020 6:53 PM