Leasing an IS300
05-12-01, 09:53 AM
#1
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Hello:
I'm new to the group, been driving an es 300 for two years. I recently turned 21 and have been intrigued by the IS300. My question, for anyone who's around my age or close to it and have leased, did you have any problems? Should I have my parents lease it(that'll be the day :-)? Any help or comments would be appreciated, thanx
Bill
I'm new to the group, been driving an es 300 for two years. I recently turned 21 and have been intrigued by the IS300. My question, for anyone who's around my age or close to it and have leased, did you have any problems? Should I have my parents lease it(that'll be the day :-)? Any help or comments would be appreciated, thanx
Bill
05-12-01, 11:09 AM
#2
Lexus Fanatic
Leasing considerations:
1.how is your credit? leasing is generally more strict, especially towards younger group(no offense).
2.if your parents own co./business, and you are listed as an emplyoee, they might be able to deduct part of the monthly payment for tax deduction. this is the best part of leasing cars.
the best thing to do is to go to your seales guy and have him/her do a credit check to see if you qualify. another thing you need to consider is the number of miles you dirve every year. i have a beater camry that have over-driven in terms of miles, and i will be penalized for it when i return it.
several dealers here in LA are still running the promotional IS lease from last month, and the deal is pretty good at $399+tax/ month for 39 months. they based the payment on $500 over invoice for the sale price of the car, and charge ~6.8% interest rate. as a return owner, they even waive the security deposit. my drive off total ~$800.
the new 2002 IS will have several more features, options and colors. but then the prices would not be as attractive.
some people lease cars all their life, some swear never do it again. it all depends on your situations.
william
1.how is your credit? leasing is generally more strict, especially towards younger group(no offense).
2.if your parents own co./business, and you are listed as an emplyoee, they might be able to deduct part of the monthly payment for tax deduction. this is the best part of leasing cars.
the best thing to do is to go to your seales guy and have him/her do a credit check to see if you qualify. another thing you need to consider is the number of miles you dirve every year. i have a beater camry that have over-driven in terms of miles, and i will be penalized for it when i return it.
several dealers here in LA are still running the promotional IS lease from last month, and the deal is pretty good at $399+tax/ month for 39 months. they based the payment on $500 over invoice for the sale price of the car, and charge ~6.8% interest rate. as a return owner, they even waive the security deposit. my drive off total ~$800.
the new 2002 IS will have several more features, options and colors. but then the prices would not be as attractive.
some people lease cars all their life, some swear never do it again. it all depends on your situations.
william
05-12-01, 11:13 AM
#3
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Im not sure about leasing but if you have good credit it will get you a long way. Im 21 and financed everything on my own. I went to one dealership and they wanted a co-signer and a ridiculous amount for the down payment. I go to another dealer and they financed me no problem. If one dealership says they wont finance you go to another one.
05-12-01, 11:45 AM
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While there are advantages to leasing, remember this: when dealing with a car with an excellent resale value, you can make roughly the same payments over a slightly longer term and own the vehicle. Then, when you trade it in, you get a built in downpayment for your next vehicle. Plus, any mods/customizing of a leased vehicle is probably a mistake. You wouldn't do a lot of redecorating on a rented apartment, would you?
05-12-01, 12:04 PM
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While youre rating wouldnt be bad... Not enough credit could hurt you. I used to have this problem a few years ago. Everytime I would try to finance something they would say that my credit isnt bad... i just dont have enough of it. The best way to establish credit is by having credit cards..
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05-12-01, 12:11 PM
#8
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Obviously I don't have to go out and get this car today, so I guess I should go get some credit cards :-)
Reason I am asking all this is cause I currently have a 99 es300 that was given to me for my birthday, nice car and all, but I was hooked one day when i when I saw the IS300 when the ES went in for service. I'm totally hooked on these cars, just wish it was easy to get em :-)
thanks
Bill
Reason I am asking all this is cause I currently have a 99 es300 that was given to me for my birthday, nice car and all, but I was hooked one day when i when I saw the IS300 when the ES went in for service. I'm totally hooked on these cars, just wish it was easy to get em :-)
thanks
Bill
05-12-01, 02:14 PM
#9
Lexus Fanatic
this might be a problem
Meg,
this is very unusual. you do not have credit cards, but you are a co-signer on another lease?
by getting credit cards now does not immediately grant you credit-worthy status(nothinh personal). i used to work in credit/finance industry. and i would highly recommend you to start build up positive credit history by having car loans/lease and 2(max) credit cards. too many cards could also lower your credit rating, as bank see you with too much buying power is not a good thing.
like you said, you are in no hurry. i was driving a '78 accord when i was 21. and after 3 lexus later, i am still impressed by the IS300. my babe said my mid-life crisis kicks in waay too early at mid 30s.
this is very unusual. you do not have credit cards, but you are a co-signer on another lease?
by getting credit cards now does not immediately grant you credit-worthy status(nothinh personal). i used to work in credit/finance industry. and i would highly recommend you to start build up positive credit history by having car loans/lease and 2(max) credit cards. too many cards could also lower your credit rating, as bank see you with too much buying power is not a good thing.
like you said, you are in no hurry. i was driving a '78 accord when i was 21. and after 3 lexus later, i am still impressed by the IS300. my babe said my mid-life crisis kicks in waay too early at mid 30s.
05-12-01, 02:33 PM
#10
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Yup
Its on my sisters lease for a chevy Impala, all they asked me to do was co sign and that if she couldn't pay the bills I'd have to, and that was about it, I guess GMAC is weird or something? Lemme ask you something, since I am a co signer if she was ever late on a payment would that go against me also?
thanx
u guys are the best
Bill
Its on my sisters lease for a chevy Impala, all they asked me to do was co sign and that if she couldn't pay the bills I'd have to, and that was about it, I guess GMAC is weird or something? Lemme ask you something, since I am a co signer if she was ever late on a payment would that go against me also?
thanx
u guys are the best
Bill
05-15-01, 07:10 AM
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Lets say that you do lease an Is300. Even after the term is over you have slappped some rims and intake and all the other goodies especially a high amount of miles on it. Why not but the car after the term because if you just trade it in with the miles you will be penalized right...keep the car refinance and sell it else where.....
thats is what i would of done....
thats is what i would of done....
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