Car Leasing question
- Thread starter swine
- Start date
Depends...
1) Did you buy the "insurance" the dealership tries to sell you for excess wear / tear / Kms?
2) If the car is fixed "properly" then the insurance company / repair shop should gurantee their repairs....so any repairs that fail the return inspection they should be prepared to "make right".
swine said:
1) Did you buy the "insurance" the dealership tries to sell you for excess wear / tear / Kms?
2) If the car is fixed "properly" then the insurance company / repair shop should gurantee their repairs....so any repairs that fail the return inspection they should be prepared to "make right".
swine said:
IF it was fixed by the dealership body shop its better, but if it were properly repaired by a reputable body shop there is nothing they can do. That part of the risk they take by leasing cars some will be involved in car accidents. I 've been in the business for 20 years.
MYSITEONLY said:
So you're saying no penalty then? I was thinking that there might be a penalty because of the reduced value of the vehicle due to the accident, say 8 grand dammage.
In case you guys are wondering, I'm just asking because I'm comparing leasing vs. buying. If you bought a car and had an accident, then you will take a loss when you resell the vehicle.
So in the case of leasing, and there's no penalty for the accident, then I see this as a major plus. Just give back the keys at the end of the lease and jump into a new vehicle again.
swine said:
Thats part of the risk they take when leasing a car to you the value is less, however if the vehicle was repaired properly there is nothing that they can really do. Existing dents, scratches, bald tires you are responsible for.
There are pros and cons to both buying and leasing, if you are self employed or own your business then leasing gives you immediate deductions via the monthly leasing payments. If you purchase a vehicle for the business you can only write off 20% per year for 5 yrs.....
Just remember when you lease, when you go to turn in your vehicle, they do a mighty thorough check. Ford uses this credit card sized thing that has all the specs on it. For eg: if you have a scratch that is longer than one edge, you pay. Or if it is deeper than the clear coat. Dents larger than x etc.
Just remember when you lease, when you go to turn in your vehicle, they do a mighty thorough check. Ford uses this credit card sized thing that has all the specs on it. For eg: if you have a scratch that is longer than one edge, you pay. Or if it is deeper than the clear coat. Dents larger than x etc.
swine said:
This recently happened to a buddy.. he called the manufacturer & they said to get it fixed at the dealership & return the car at the end of the lease & it was the manufacturers problem... there would be no penalty
Seem to remember a clause in the lease contract that states that collision repairs were to be done at the dealership.
The dealerships may try to screw you around over damage and wear when you return the car if you are not buying a new car from them. Ie, they can touch up and buff out scratches good enough if they like you, but if they don’t like you the car will need major work to be repaired.
The dealerships may try to screw you around over damage and wear when you return the car if you are not buying a new car from them. Ie, they can touch up and buff out scratches good enough if they like you, but if they don’t like you the car will need major work to be repaired.
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