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I am leasing an 2016 auto and question is should I prepay…

Customer Question
I am leasing an 2016...
I am leasing an 2016 auto and question is should I prepay maintenance cost by including it in monthly payments.
Submitted: 2 years ago.Category: Finance
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Customer reply replied 2 years ago
What about a warranty for extended mobility tires that cost $1500 or $500per year. Maintenance cost is $800 over 36 months instead of $1050 over three years.
Answered in 6 hours by:
1/31/2016
Financial Professional: Stephen G., Sr Financial Expert replied 2 years ago
Stephen G.
Stephen G., Sr Financial Expert
Category: Finance
Satisfied Customers: 7,469
Experience: Extensive Experience with Tax, Financial & Estate Issues
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Are you saying that the savings on the maintenance costs by including it in your payments is $250.?

Not sure what you are asking about in terms of the warranty for tires? Can you explain why you would need $500. on tires each year? What is your expected mileage & what mileage is covered under the lease?

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Customer reply replied 2 years ago
Are maintenance cost required on a lease auto ?Extended mobility tires are special tires that allow 50 miles of travel after incurring a flat tire. Replacement tires is costing $500.
Financial Professional: Stephen G., Sr Financial Expert replied 2 years ago

As far as maintenance costs are concerned, it depends upon the terms of a particular lease. The leases are written both ways. Since you mentioned prepaying maintenance costs, I presume that your proposed lease passes the

routine maintenance costs on to the lessee? Whether or not it makes sense to prepay those costs depends upon the savings involved and what kind of mileage you are dealing with. Depending upon make of the 2016 auto you are talking about and your projected mileage most 2016 leased autos require very little maintenance in the 1st 36 months of operation.

As far as the mobility tires are concerned, when is the last time you had a flat tire? So you need to evaluate that in terms of the cost involved. If you are driving around a lot of construction sites, or anywhere else where the risk of flat tires is increased, perhaps it would be prudent to have that protection. If you do mostly highway driving on good roads, I would think it wouldn't make sense.

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Financial Professional: Stephen G., Sr Financial Expert replied 2 years ago

Just Checking In.......I see that you have seen my response; are you having any trouble with the rating system?

Do you have any questions, or may I assist your further with your question?

If not, please remember to rate my response as that is the only way we receive credit for our work.

Thanks very much.

If you'd like to reach me again here at JustAnswer.com, just ask for "Steve G." at the beginning of your tax or financial question.

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Financial Professional: Stephen G., Sr Financial Expert replied 2 years ago

Just checking in....are you having a problem with the rating system? It happens periodically.

I see that you have had a chance to review my response, but I don't see any follow-up questions?

If you do not have any additional questions, I would appreciate it if you would take a minute to rate my response as that is the only way we receive credit for our work.

Thanks very much,

Steve G.

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