Is this a good time to lease?

KevinDFZ wrote: ↑ I know new car prices are messed up atm due to the "supply shortage" that all the dealers claim (which I don't really buy into), what about leasing? I've never leased before so I've only recently started doing some research. Due to WFH I don't need to drive everyday, mostly just need it on weekends for errands or trips. Mostly looking at small SUVs atm, but not completely excluding sedans. What are some makers I should consider or avoid?

The shortage is real, unless you want something like a Jeep Wrangler or Dodge RAM, I see lots of those on lots. Many cars have a 4+ month long wait with some over a year.
With how little you drive, why not Uber around town and rent for trips.
If you want a better deal and something quicker, go for sedans. small SUV are pointless but in high demand by people wanting the "look".

BTW, it looks like prices and availability may be getting worse due to sanctions and lockdowns in china.

Leasing is really no different than purchasing. You've got your vehicle price, your interest rate, and your lease term. The only thing missing is the residual which will determine how much of the price of the car you will be paying for over that lease term.

Apart from that, you negotiate the price of a leased vehicle exactly the same as a purchase vehicle. However with the "shortages" business many stealerships are basically playing a game of "pay MSRP or leave it" so you're probably not getting a deal, which is just as bad as purchasing at MSRP. The one saving grace of leasing is you're not paying for the entire amount of the vehicle and even if you are forced to lease at MSRP now, in 2-4 years (depending on your lease term) you can just walk away from it and get another car at an actual deal.

Am considering leasing too. Looking to get an Outlander - 530 a month, for 18 months. Base trim, 16k km

I’ve been on a mission to lease something new right now. Lease busters has been an ok avenue so far. Have seen one potential car today and will be seeing a couple more on the weekend.

I’m looking at under 3 year terms with buyouts that are around 10k. So something small and economical. Hopefully within those 3 years I can pre order something better on gas (phev/EV) where there isn’t a 2-3yr wait. Oh wait, maybe I should reserve a 2024 now. Lol

I'm also considering a lease takeover/transfer, so I don't end up locked in a lease for 3+ years. I only have a temporary need of a vehicle, ~1 year at most, so I felt this might be more suitable. What are some cons/traps of going with a takeover, besides the obvious fact that I need to spend more time searching around/finding people and I might not get the vehicle I want?

Did any of you guys find any deals? If so, how did you go about it?

I have been on LeaseBusters for weeks now, but not been able to find anything - there's no supply or perhaps I've just been looking wrongly.

For errands and light usage, do not get into fleasing.

Find a used car. The lease rates are too damn high

Thorkell wrote: ↑ For errands and light usage, do not get into fleasing.

Find a used car. The lease rates are too damn high

Get used to it...

engineered wrote: ↑ The shortage is real, unless you want something like a Jeep Wrangler or Dodge RAM, I see lots of those on lots. Many cars have a 4+ month long wait with some over a year.
With how little you drive, why not Uber around town and rent for trips.
If you want a better deal and something quicker, go for sedans. small SUV are pointless but in high demand by people wanting the "look".

BTW, it looks like prices and availability may be getting worse due to sanctions and lockdowns in china.

I agree should just use car sharing services too