Close this pls 202020
You seem to have your mind set on leasing something, which is fine, but if you know that you are leaving anyway and the car doesn’t have any problems, maybe just try to refinance and drive it until you move? You might not be underwater in 2 or 3 years, especially if you refinance and try to pay it off a little quicker.
Ouch ouch ouch. I would say don’t lease. Just drive this this one into the ground. And refinance the loan/note at around 5%
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Yes that’s the plan if i can’t get anything better, but another reason why i want to lease is because i want to get a slightly roomier car, given my size and the fact that i regularly have family in the backseat the car is a bit too small for me.
In my opinion you should refinance. Something you should consider is the mileage you drive a year and the fact that it might be easier getting out of a car you own versus a lease if you don’t complete the terms. If leasing is what you want look into manufacturers that are offering conquest cash to get you out of a Japanese car that can offset the negative equity.
So the deal that was offered to me wasn’t good enough and i can’t do any better?
I know the most REASONABLE thing to do is to drive it to the ground and refi but i really think leasing a slightly larger car is the best choice for me at the moment.
Thanks for your input.
So…what happens when you need to move in 2 years and you’re stuck in a 3yr lease?
Or you sign a 24month lease and later realize you can’t move yet? You’re going to buy another car for, say, 10 months?
Owning a depreciated car is much easier and cheaper to get out of than a lease.
Check your refi rates on your current car and if you really wanna dump it then check what kinda APR you can get on a 2-3 yr old or CPO Elantra
In reality, your negative equity will be 2-3k. With your credit score and negative equity, your lowest lease will probably in the $300-400 rangr. Work with a dealer and post details here. Thats a start.
Why lease? You could buy another used one…