No specific brand but looking for at least a midsize sedan or a small SUV , and I have a budget of around 350$ per month for a lease with 0 down. I am not sure that its possible in this market. Saw some dealership deals that may work, like a 2023 Accord EX for 379 a month 0 down, but when I went in the price was 445 a month.
As for the lease terms, I am okay with 36 month and 10k a year.
I would appreciate any input, also I am sorry if this isn’t the right place to post but it’s my first time using leasehackr
Yeah sorry, I mean 0 down as nothing was paid upfront besides the first month payment. this is how I did my last lease. it was a 2021 Nissan Rogue S AWD for 288$ and this one was 0$ due at sign. It was a very good deal back then.
Times have changed. A lot. Unfortunately except for a few exceptions it’s hard to recommend leasing for anyone on a budget these days. Paying roughly the purchase price of a car over two leases and having nothing at the end is a terrible financial decision.
I totally agree with you, but unfortunately, even though loaning at the moment is much better than leasing I can’t take out a loan due to religious reasons. So I can either lease or buy a used car cause I don’t have the cash for a new car (even if I did it’s not the best idea either).
Good question, I will try to explain to the best of my ability since I am not an expert on the topic. The reason why a lease is okay in Islam is because you never end up owning the vehicle, the interest charged is more like a rental charge than actual interest. also, the final price is agreed upon at the time of signing the lease. As for financing, interest (riba) is prohibited on the basis that it is gained without any effort on the part of the lender and is considered exploitative.
Look at EVs - wont necessarily be 0 down, you will have some drive offs at signing but ID4, Subaru Solterra, Ariya base models can be had around that range w some legwork, depending on your location – search other threads here.
This is why I am here lol. Just went to the honda dealer i mentioned earlier. But from what I gathered the 350 budget is below most deals for the cars I am looking for.
You do realize that money factor is an interest charged on top of rent charge, don’t you?
Check out VW Taos, you should be able to get it with $350/mo and $0 down, depending on what tax situation you have got where you live.
Why don’t you all who are b&*$ing about me put me on your ignore list? He can get a base model Taos for $350/mo with zero down, depending on discounts he can get and the tax rate he owes for lease in state of his residence.
