Good or bad lease?

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Mar 17, 2014
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Would anyone be so kind to review this lease and tell me if it was any good? Someone with knowledge would be more readily able to spot something off. This lease was after a prior lease was ended about a year early after the dealer reached out. Thanks
 

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Joined
Feb 8, 2011
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Canadia
It’s a bad lease. You are paying $14,800 for a $19,000 vehicle only to have to give it back.
My thoughts exactly. Not to mention there doesn't appear to be a buyout option at the end of the term. If the dealer had at least defined a low residual value you could take advantage of at the end of the term, it might not be so bad.
 
Joined
Jan 24, 2008
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About 411 per month when the upfront fees are averaged in. So yes pretty high. I think a Kia Forte leases out for half of that amount. Ari Janessian on YouTube is a good resource on leasing deals. He breaks down all the numbers for you.
 

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Jul 25, 2017
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Sacramento, Ca.
Why are you leasing? If you can't afford to buy it, you probably shouldn't have it., unless there is a business reason & you can write it off.
At current low interest rates, just buy it.
 
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Rough math I thought was 10% of msrp for a lease payment. With standard fees due at signing.
 
Joined
Apr 27, 2012
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It's a bad lease. Use a site like Leasehackr.com. Basically it has a lot of fluff in it. The 899 dealer profit plus the extra $149 registration fee. Then you have the identity theft $140 fee, another scam. I'm also not sure why there's a $60 rental surcharge unless that's a local/state thing. Get a few other quotes from a few other dealers that don't have those fees. And yeah, it's not a good lease in general. The best cars to lease are the ones with a high residual so you pay less during the time you own it. The worst cars to lease are the ones with a low residual. Sounds like this is a low residual one.
 
Joined
Dec 10, 2006
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The IL
More terrible than standard leases. As I see it, the cost here is $11,845 ($1000 down + ($290.16 X 36) + $400 turn in) to the buyer for use of a car for 36 months. $329 a month to rent a car.
A lot of sneaky fees in there to prop up that price. You can buy a serviceable car for that payment.
 
Joined
Apr 27, 2012
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More terrible than standard leases. As I see it, the cost here is $11,845 ($1000 down + ($290.16 X 36) + $400 turn in) to the buyer for use of a car for 36 months. $329 a month to rent a car.
A lot of sneaky fees in there to prop up that price. You can buy a serviceable car for that payment.
Acquisition fee and lease disposal fees are pretty common but that basically just drives up the cost of the lease. That down payment is wiped out somewhat by the rebate, but they don't mention the residual so I think it's pretty low which is why it's a bad lease, the higher the residual, the lower the monthly lease payment. You also need to ask questions like what's the money factor? Once you have that, multiply by 2400 to figure out the interest rate.

Oh I guess all that info is in the last page. It can all be figured out. I guess a little math later and based on the money factor, the interest rate was about 6.5% not great but could be worse I guess. Also end date was 4/2022 so it sounds like you're already almost two years into the lease.
 
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