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Thread: leasing a sedan

  1. #1
    Senior Member Elegant Limousines of Palm Coast's Avatar
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    Default leasing a sedan

    Anyone here have any info on leasing sedans? What would a lease that you turn in the vehicle every 24 months be like?

  2. #2

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    Leases usually have mileage restrictions and if you go over they charge you by the mile. Check the fine print.

  3. #3
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    Ford Motor Credit, Ally Financial/GMAC and most of the other captive finance companies don't lease for-hire vehicles for two reasons. (1) In a lease the vehicle is titled to the lessor and these huge financial intitutions don't want to be owning a vehicle used for paying passengers --- too many possible legal issues in the event of an accident. (2) Mileage - a regular car lease where you get a new car, drive it for a set period of time and turn it back in has a monthly charge based on combo of cost new, interest rate, term, and R E S I D U A L V A L U E. They don't wish to own vehicles that have low residual values based upon high miles.

    Yes, there are private leasing companies that might set you up in what they call a lease which is really a balloon payment at the end of say 10%. But, you aren't saving anyhing. It would take a lot of explaining but what you are doing is just getting someone to go to the bank to buy the car for you and then collecting payments from you. But, it's less expensive to do that on your own without a middleman marking up the payments.
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  4. #4
    Senior Member Elegant Limousines of Palm Coast's Avatar
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    Ok sounds like leasing is out. We have never done a lease and I didn't know all the pros vs cons. If we could get into a new or newer sedan, make payments for 24 months then turn it in for another one it may work for us. But I don't think so. Thanks for the info guys.

  5. #5
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    Try : http://www.advantagefund.com

    http://titusleasing.com/


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  6. #6
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    try Napleton Lincoln Mercury, they are in West Palm Beach

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