It is not. Not even close.
Google Lambretta and June Palmer
In May, my LH calc for my Jeep was the SAME as OP’s Soulless current payment. Wife wanted 15K (wisely) so we are just over 440/mo with taxes (399/mo pretax) Mine is not a stripper, and OP may not need leather,etc. so despite current market he could get close, plus be overwater.
Cmon you know better than comparing leasing and financing payments.
My car usage is very low (but not 0 to completely avoid getting a car in this market).
Is there a way to find out list of cars that offer low mileage leases? Lowest I have seen so far is 7500 miles/year but that was on the car I was not interested in.
Hoping to keep my monthly lease payment $250-$300 with $0 down. I know seems difficult in this market but that’s why trying to see if I can leverage my low usage somehow.
Lexus does 5k/year, but you still won’t get close to your price target. The difference between 5k and 10k miles per year is probably only 2 residual points.
Most non-luxury brands start at 10k.
You are going to have a hard time finding a car within your budget, even with a low mileage allotment.
What car/cars are you interested in?
Merged to avoid repetition and redundancy
Focusing on low mileage leases isn’t really going to get you across the finish line. There will be options with 10k miles as the lowest option that are way cheaper than another brand that’ll do a 5k mile lease.
Bottom line 7,500 leases are for higher end Benzs, BMWs etc and 5,000 mile leases are for true exotics.
If you don’t drive much why would you spend 300*36 = 10,800 + disposition to drive a 20k car?
Yeah I know. That’s why decided to go without a car for past year or so. But as much low usage I have, not having a car at all is very inconvenient. Public transport in Seattle is decent but not super connected.
I seriously considered used car but they are not going cheap either. At least the ones that aren’t super old and/or lot of mileage on them. I am not at all handy when it comes to cars so don’t want to risk spending money on maintenance.
Just need reliable set of wheels for minimal usage - running errands, random ad-hoc plans etc without spending too much.
I was thinking if I can get some car (MSRP ~20K) which is not crazy inflated in current market, use it till the market settles down and then return(if lease) or sell it (not expecting much equity since buying at wrong time just hoping low usage might help offset the loss).
Was really hoping the used Leaf 2011 I mentioned couple of posts ago for $4600 would work out but its low range (8 bar) is super risky for my case
Why not just buy a brand new 20k car and hold on to it longer? As long as the longest OEM warranty extension?
Like if you’re $22k OTD and can sell it for $6k in 10 years, that’s only $133 per month in depreciation and taxes.
All that’s left is the cost of financing which depends on how long of a loan you take and the APR. Unless it’s 0% APR.
@Jrouleau426 has $300 Tacomas 39/10.
At the end of the lease you will likely get a chuck of your money back.
That’s a great point. Did a similar calculation regarding the decision of financing Kia Soul. Probably will go that route eventually but just wanted to check if there are any other better options.
Thanks for your insights, gave me further clarity.
Have you looked at a Corolla? You might be better off just financing it, since the lease might not be that appealing.
sorry forgot to answer this earlier. I don’t have any specific ones on mind but generally the ones that satisfy my requirement of MSRP~20K with low APR OR $250-300 lease payment (due to low MF/high residual etc).
That’s the one I had leased earlier for dirt cheap and now regret returning it. But yeah one of the reasons for not buying off was - moving away from Sedans to SUVs, Hatchbacks. (It’s not a super strict requirement, if I find a very good short term deal though). I know Corolla has those versions too besides Sedan and I am looking at them but almost all Toyota dealers nearby have 2-3K “market adjustment” markups.
Also not much into trucks/ jeeps.
What has your research shown? Any cars that meet those requirements?
Have you trying searching the “Marketplace” for broker deals near you? You might have some luck with some dealers either having a small markup (less than $3k) or no markup on certain models.
This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.