Lease/Leasing a car

[Guest cloudy]

Here's my dilemma people. I'm getting a new car here sometime soon and I've got some questions about leasing a car. I don't know much about leasing, but in some ways it seems good and in other ways bad. If I did decide to lease, about how much driving does one do while at UPT and all the follow on courses? To me it seems obvious, all my time will be spent in the classroom/flying, therefore, not too much time to be driving all over the place. Have any of you leased a vehicle and regreted it while in UPT or any other time in your career? Just trying to get an idea if I should buy something for my next few years of training or lease it instead. Any ideas?

[Guest newflyer]

If you want more car than you can afford...lease.

I have leased and bought...regretted the lease in the long run. Mileage restrictions. I have heard of residency restrictions on some leases, not really sure how that would affect military members though.

[gimmeaplane]

Okay...I'm a car nut...so here's what you do. Shop outside what's "hot" at the moment--never pay a premium (rules out a new Mustang). If you like all the options, give serious consideration to a 1-2 yr old used car. Options do not add value to used cars, but they add an ass load to a new one.

Unless you're really into cars, get something relatively practical (note this doesn't have to mean boring). You'll never pick up chicks by virtue of the car you drive (unless you're in Swingers). When you're ready to buy (not lease), go to the dealer and get a quote. Then go home! Get some insurance and loan quotes that afternoon. If you can do both comfortably, go to the dealer* and don't buy unless they knock AT LEAST a grand off the price.

* - much like with a chick's phone number, the 3 day rule applies.

And don't forget to budget for tax, title, and lease.

[gimmeaplane]

Oh, and use Edmunds & www.kbb.com. Sometimes they differ widely. Either way, they'll window your expectations.

[BFM this]

If you can get a car with no CARFAX history, only 1 - 1.5 years old with plenty of warranty left that you can extend out to 100K, why go to the dealer and pay markup?

I bought my wife's car this way off the private market and it worked great. At least 3K off what I would've paid on a dealer's lot.

Just don't cut corners: IE CARFAX, a good inspection by a mechanic that you trust, good value vs blue book values, don't be in a rush--shop around for a few months, etc, etc.

Shop autotrader and the local classifieds. If you're stuck in some hole like Columbus or Del Rio, scour one of the bigger markets nearby like Memphis or San Antonio.

Bottom line: Dealers are going to make a profit. They have to in order to keep their doors open. Some private sellers are only interested in getting rid of their payment.

[pcola]

If you lease, consider the possibility that you'll be stationed overseas within the next 2 years. Most leases cost $ to get out of, and I don't know of any that will let you take their car overseas.

[duece123]

I know this topic is a little off military aviation, but I am happy that it came up. I am about to graduate college and plan on going to OTS and UPT in the next few years (hopefully). I am in the market for a used car or possibly a leased new car. Any feedback on this subject is greatly appreciated. Also has out there anyone ever bought a car on EBAY?

[Guest Wxpunk]

Bottom line: Dealers are going to make a profit. They have to in order to keep their doors open. Some private sellers are only interested in getting rid of their payment.

Don't forget that for every one consumer that steals a car from the lot, there are five schmucks that pay full price.

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Wxpunk

[ 21. July 2005, 23:21: Message edited by: Wxpunk ]

[Guest flecth033]

If you lease a car make sure you get a good amount of miles. My wife leased a car and the miles added up very quickly. Once she went over she was charged like 23 cents per mile. Ya, we ended up owing $6,000 so we decided to lease to buy.

Driving around daily during UPT won't be to bad, but when you start moving around, the miles will add up quick.I second looking into a nice used car. If you look around long and hard enough you can find something that you really want for a good deal.

Remember there is always something better so don't rush into a deal. Whatever car you want, take it out for a day or two and put it to the test. Alignment, tires, AC, wiper blades, everything. If you buy from a car dealer tell them you want whatever fixed. You can talk some places into giving you a full size spare, couple car washes, and some oil changes. Tell them what they need to give you for you to take that car.Do your homework on the car before buying, and go in there letting them know you did your research.

[ 22. July 2005, 11:19: Message edited by: flyguy ]

[brabus]

Also has out there anyone ever bought a car on EBAY?

Seen it work for a friend, saw my mom get kind of screwed (not horribly I guess) and my brother get really screwed (as in the car should have had a salvage title). Carfax was done on both of them, what a waste of time. Carfax is pretty worthless sometimes because people can get in a huge crash (i.e. wrap the car around a phone poll) but as long as there's no police report/insurance claim, carfax will never know. So, the person can pay out of pocket just to get the car semi-working and then dump it...the perfect place to dump is ebay.

My advice: only buy a car off of ebay if you can personally check it out or have a trusted friend/mechanic check it out. It's always good to have a mechanic check any car out, but especially one for sale on the internet. Some people do ok on ebay, but I think a good number get anywhere from a little screwed to extremely screwed. And to add, my brother's car came from a dealership (or so they called themselves). So just b/c it's from some dealership in TX or whatever, does not make the description legit.

[Guest Wxpunk]

There's a paint depth test that can be performed to determine whether or not the vehicle has been repainted. Reputable dealerships will offer this test upon request.

I will never, ever purchase a used vehicle without doing a thorough mechanical/structural workup. Of course, I haven't bought a used car since 1992.

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Wxpunk

[Guest cloudy]

Thanks for the help. I've decided to just get a used car and it's in good condition. 100,000 miles on it (Toyota), but I'll just run it until it dies (hopefully another 100,000) and then maybe get something better once I'm making six digits as a 2nd Lietenent.....................yea right.

[STR1CK]

Buying a Car on ebay can be a good thing. So far I have bought 2 BMW's and 2 Motorcycles on EBAY. First and formost you really have to know what you looking for. You better have a good idea of what common failures are expected for a vehicle of a certain model, make, milage and year. DO YOUR HOME WORK. Try to find something Local that you can go and look at before you bid. If you can take a mechcanic with you for an inspection. If you have any doubts do not buy, for that matter don't even bid. Be patient something better always comes along. FOR MY 2 Cents a CPO (Certified Pre-Owned) car is a pretty good deal. GOOD LUCK with the car and Undergraduate Flying Training