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Roy
Roy, import/domestic specialest
Category: Car
Satisfied Customers: 1773
Experience:  ASE master tech for 40 years
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My wifes car lease is up in August. she has a 2011 rav4.

Resolved Question:

My wife's car lease is up in August. she has a 2011 rav4. i was thinking about exercising the option to buy for two reasons. 1. she has paid so much into it already 2. there is not a really another car out there that we like much better than her current car now.

my wife wants to lease another car b/c she is afraid of being stuck with a car later on that has problems. She also figures that we can lease for 3 more years and see if there is a car we like better so that we could finance.

there are a few things that make me want to lease a newer car 1. not having a continuous AWD option with the 2011 she has now. it can only sustain AWD until speeds of 25mph. 2. it doesn't have a back up camera

two questions: any recommendations on leasing a new car vs. just buying this one

second: if we decide to lease a new can you explain the 0 down but all the other fee associated with leasing. Is there ever a really a zero down with a lease?
Submitted: 1 year ago.
Category: Car
Expert:  Roy replied 1 year ago.

roy :

good Morning my name is XXXXX XXXXX I will assist you. Yes, there is a 0 down lease but I would be leary of them as the interest rate is higher than the alternative. Just like renting an apartment, 1st and last month is the way to go. There are alwys set up fees with tags, title and taxes, Thats normal for leasing. I prefer to lease as you have a new set of keys every 3 years without the worry of major breakdowns. All is covered under warranty except the basics which you are responsible for anyway. I agree with your wife, lease a new car and you will be surprized what is out there that you may like even more. Shop around for your lease, You wll be surprized the difference in pricing from place to place. Pick out the car you want and have the company base there pricing on that vehicle. Roy

Customer:

sorry for the delayed response. we went to dealer yesterday and had some other questions regarding a lease deal.

roy :

Ok, do you have any other questions?? Roy

Customer:

What are fees associated with leasing? For example bank fees. I don't want to pay a bank for leasing a car. Can i avoid the fees outside of tax title and license

roy :

If you work through the dealer, those are the only fees you should pay. Going through a bank you will have to pay these fees. What did the dealer tell you?? Roy

Customer:

i was also looking at the paperwork for lease my wife got before and for some reason my wife paid GAP insurance. does it make sense to pay gap insurance on a lease?

Customer:

I asked about lease specials and then they started breaking down fees and there was 600 bank fee associated with one them

roy :

Ok, gap insurance is a must. What happens is if you had a theft or loss, it makes up the difference between the value of the car versus the owed value. Had it happen to me and glad I had it or I would be responsible for the difference. I would shop around to other dealers and private leasing companies as they do in house financing and would not charge you this fee. Also, If you like a car and want it tell the dealer you dont want to pay this fee. Cant see them loosing a deal over 600. Roy

Customer:

GAP insurance for a leased vehicle? Doesn't the insurance company cover the cost of the car so that there should be no need for GAP insurance?

Customer:

if you are leasing you don't own anything so how can there be a difference

Roy, import/domestic specialest
Category: Car
Satisfied Customers: 1773
Experience: ASE master tech for 40 years
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