Haha, no QX80…this is not a woman that cares much about material things, even if it were $250 a month the gas would be a deal breaker for her.
My thinking exactly, especially if she puts any sort of mileage on.
Also, I hope she is simply looking to maximize her cash flow on said vehicle and NOT simply choosing leasing because that is only payment she could afford to drive a “decent” vehicle.
If it is the latter, that is an evil circle to fall into…and I would not recommend leasing at all (for the majority of cases).
She’s not getting anything for effective $240/month right now. The only way she’ll get a $240 payment is to put a bunch of money down (from her equity).
So, again, what’s going to happen the next time (to start the next lease)? Where is that money down coming from?
Obviously she’s not getting anything for $240 a month, she’s willing to pay and can afford more than that…did I ask for something for $240 a month?
I don’t know too many people that start planing their lease after their next one before they have even signed it. You’re really reaching to try and make a point here…
No, she’s not destitute by any means I definitely did not mean to paint that picture. She is actually incredibly responsible with her money…
In fact she has another vehicle, a 2003 Sierra sidestep which is her baby and has become quite valuable. But that’s not feasible for her as an everyday back and forth vehicle.
Sure
This contradicts being responsible with money. If the friend has an asset that isn’t usable, get rid of it and turn that money into something usable.
It’s great you’re trying to help her. There has also been a lot of effort to assist you from the community here. In the end there is no perfect answer. Sticking under $300/month for a lease is not really achievable without factoring in any “equity” she has in her existing lease. I also have to agree with a number of these commenters that leasing may not be the best option for her. Maybe she can use the equity to get a decent extended warranty on a used vehicle. You could likely find a mid 2010’s Hyundai Santa Fe in the $15K price range. Add in a warranty and you’re likely under $20K. Just a thought.
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Haha okay thanks for the input, yea only filthy rich people are allowed to have things they like…got it.
I swear some of you just type shit read your own words. The fact that this is a forum about leasing cars…in essence a forum about numbers, and this thread is about that topic but you guys find a way to somehow make it contentious…it’s just weird.
Got the info I needed from the non weirdos, thanks to everyone who replied!
First and foremost, this place is about empowering people to make educated financial choices. In this case, youre talking about trying to help someone that is on a tight, fixed budget try to maximize their situation. Leasing isnt the right answer for every situation.
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You’re doing gods work brother, god bless you…
Do you want this thread to remain open?
I think what he’s trying to say is a cheap lease is just a temporary band aid and at the end of it, she’ll be back to square 1 likely without the equity. As Matt said above, leasing may not be in her best interest.
No need i got the help I needed and it is appreciated, thank you
I understand that but as I said the equity is not a factor, it was just a nice bonus probably shouldn’t have even mentioned it. She can afford more than her current payment.
Closed per OP