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	<title>Comments on: Can I be approved for a car lease with fair credit?</title>
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		<title>By: HerbS</title>
		<link>http://www.carhistoryblog.com/can-i-be-approved-for-a-car-lease-with-fair-credit/comment-page-1#comment-177</link>
		<dc:creator>HerbS</dc:creator>
		<pubDate>Thu, 18 Jun 2009 01:33:51 +0000</pubDate>
		<guid isPermaLink="false">http://www.carhistoryblog.com/?p=204#comment-177</guid>
		<description>&lt;a href=&quot;http://www.carpoliceauctions.com/cars-at-auction-right-now/buick&quot;&gt;Luxury Cars at Auction&lt;/a&gt;


T o answer your question, yes. But you will be ripping yourself off.

Leasing:
2007 Lincoln MKZ, MSRP $30,145 – $500 Rebate - $2,460 Park Central Ford discount = $27,185 + TTL.  Based on 39 month lease with zero down, 39 payments of $367.00 per month.  Total of payments = $14,313.  First months payment and security deposit of $0 due at lease inception.  Total due at signing $1,915 based on 10,500 miles per year subject to excess wear and tear for over mileage @ $.20 per mile over 34,125 miles.

Discount price: $27,185. + $1,915.ttl =  $29,100.  to own &amp; use as wanted.
Note: that price is negotiable, see:

(39payments X $367.) + $1,915.ttl =  $16,228. for permission to drive it 39 months, yet not more than 10,500 miles per year.

The salesperson will say you are “saving” $12,872. in reality the money would be well spent as the car is good for at least another 70,000 miles or 6.3 lease years.

6.3yrs = 75.6 months PLUS 2X for ttl renewal
10,500 miles per year/ 12 months = 875 miles per month

(75.6 payments X $367.) + (2 X $1,915.ttl) =  
$27,745.20 + $3,830. = $31,575.20 Cost to lease for 6.3yrs

(1st 39mon cost $16,228). + (6.3yrs cost $31,575.20) = $47,803.20 for a car that you can only drive 100,275 miles w/o penalty.  For a net loss of $18,703.20

39 + 75.6 =  114.6 TOTAL MONTHS X 875 MILES = 100,275
$47,803.20 - $29,100. = $18,703.20

Also to consider is the issue of lease end, where you must purchase the car, usually at a price above it’s actual value, or turn it in. If your financial situation is not good, at that point in time, it is possible to end up without a ride. Whereas, if it had been purchased, at the end of the financing [never go more than 3 years] the big monthly payment is gone.
A friend once told me, &quot;when you earn a dollar your lucky to get 80 cents, but when you save a dollar you get the whole dollar, so it makes sense to work harder to save money than you do to earn it.&quot;</description>
		<content:encoded><![CDATA[<p><a href="http://www.carpoliceauctions.com/cars-at-auction-right-now/buick">Luxury Cars at Auction</a></p>
<p>T o answer your question, yes. But you will be ripping yourself off.</p>
<p>Leasing:<br />
2007 Lincoln MKZ, MSRP $30,145 – $500 Rebate &#8211; $2,460 Park Central Ford discount = $27,185 + TTL.  Based on 39 month lease with zero down, 39 payments of $367.00 per month.  Total of payments = $14,313.  First months payment and security deposit of $0 due at lease inception.  Total due at signing $1,915 based on 10,500 miles per year subject to excess wear and tear for over mileage @ $.20 per mile over 34,125 miles.</p>
<p>Discount price: $27,185. + $1,915.ttl =  $29,100.  to own &#038; use as wanted.<br />
Note: that price is negotiable, see:</p>
<p>(39payments X $367.) + $1,915.ttl =  $16,228. for permission to drive it 39 months, yet not more than 10,500 miles per year.</p>
<p>The salesperson will say you are “saving” $12,872. in reality the money would be well spent as the car is good for at least another 70,000 miles or 6.3 lease years.</p>
<p>6.3yrs = 75.6 months PLUS 2X for ttl renewal<br />
10,500 miles per year/ 12 months = 875 miles per month</p>
<p>(75.6 payments X $367.) + (2 X $1,915.ttl) =<br />
$27,745.20 + $3,830. = $31,575.20 Cost to lease for 6.3yrs</p>
<p>(1st 39mon cost $16,228). + (6.3yrs cost $31,575.20) = $47,803.20 for a car that you can only drive 100,275 miles w/o penalty.  For a net loss of $18,703.20</p>
<p>39 + 75.6 =  114.6 TOTAL MONTHS X 875 MILES = 100,275<br />
$47,803.20 &#8211; $29,100. = $18,703.20</p>
<p>Also to consider is the issue of lease end, where you must purchase the car, usually at a price above it’s actual value, or turn it in. If your financial situation is not good, at that point in time, it is possible to end up without a ride. Whereas, if it had been purchased, at the end of the financing [never go more than 3 years] the big monthly payment is gone.<br />
A friend once told me, &#8220;when you earn a dollar your lucky to get 80 cents, but when you save a dollar you get the whole dollar, so it makes sense to work harder to save money than you do to earn it.&#8221;</p>
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