Lease vs. SmartBuy on new Camaro

7694 Views 22 Replies 10 Participants Last post by usmc190, Jan 10, 2008

SunsetHawkSelena

Discussion Starter · Jan 9, 2008 (Edited)

ok, guys. i have never leased nor have i done a smartbuy on a new car. i think i pretty much understand the basics of how they work... but i have a question that i need to get answered before i go to a dealer because F&I guys can be guilty of telling you stuff to get the most money out of you.

seeing as i am thinking of leasing/smartbuying a new Camaro when they first come out in 2009, and then buying (traditional financing) one 2-3 years later (2011 or 2012)... i want to know what typical dealers policies are on early lease/smartbuy turn ins?

would it be better to just do a 2-3 year lease or SB and wait until the term is up? or could i do a longer lease/SB and get a lower note... and turn it in early without a penalty? are there differences between leases and SB's when it comes to this type of stuff?

thanks in advance for any advice

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Dirtfarmer

· #4 · Jan 9, 2008

CUONCRS said:
I leased a minivan a few years ago, and there was definitely a penalty to turning it in early, and any scratches, dents, problems, mismatched tires, worn tires, stains, etc... they really charge you for. I will never lease again.

I still think you are better off just buying the car, and trying to pay more into the balance than you "have to" to build up equity (so it's worth more than you owe on it). Then you can sell it yourself.

That's just my opinion. I'm sure there are people that will say that leases are ok, but it just wasn't for me.

Edit: Plus, you can't really do any modifications to a leased car.

Don't they also limit your mileage?

I recall knowing a guy that had leased a vehicle but couldn't drive it because he was near the mileage limit. :screwy:

I always looked at vehicle leases to be for those that want to cycle into a new vehicle every few years and aren't concerned about always having a car payment.

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