Is this a good lease deal?

Toyota Passenger and Sports Car Forums Corolla and Matrix
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I find 64 months to be a pretty long lease. What do you all think?

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[deleted]

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StarlightSpecter said:
[deleted]

Where do you see a $15k down payment? It says $0 down, bro!

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Gentry said:

StarlightSpecter said:
[deleted]

Where do you see a $15k down payment? It says $0 down, bro!

My bad! :joy: That’s actually a good deal.

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Why would anyone lease a Corolla?

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Chancey said:
Why would anyone lease a Corolla?

Why not?

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Gentry said:

Chancey said:
Why would anyone lease a Corolla?

Why not?

I think you’d get way more out of life buying a 7th or 8th gen for under $3k and driving that without a hitch for years.

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@Ameliascarlet
Oh, you might be right!

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Leasing is never a good deal.

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Bowie said:
Leasing is never a good deal.

Maybe it makes sense if you want an EV but are worried about battery longevity or changing charging standards.

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Bowie said:
Leasing is never a good deal.

Why’s that? I’m new to this, so help me out! :joy:

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Gentry said:

Bowie said:
Leasing is never a good deal.

Why’s that? I’m new to this, so help me out! :joy:

Leasing is short-term; you’ll end up losing money and never own the car. If you need a new ride every couple of years, go for it. But it’s not a solid financial choice. You want something that lasts and costs less, so financing for the same duration as leasing can save you cash.

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@Bowie
But I don’t get it… financing has higher monthly payments for three extra years. Can you explain how it’s cheaper?

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Gentry said:
@Bowie
But I don’t get it… financing has higher monthly payments for three extra years. Can you explain how it’s cheaper?

Because after a few years, you won’t have any monthly payments at all! :joy:

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Gentry said:

Bowie said:
Leasing is never a good deal.

Why’s that? I’m new to this, so help me out! :joy:

You’re paying over $4,000 a year to return the car at the end. You might as well finance it.

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@Asa
But financing costs like $5,500 a year… how is that cheaper?

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Gentry said:
@Asa
But financing costs like $5,500 a year… how is that cheaper?

It’s cheaper because once you finish financing, you own the car outright and can keep it for 20 more years without any payments!

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@Rowen
Oh, I see… did I get scammed then? :cry:

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Where did you find this? I don’t think the L trim exists anymore.

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Laurel said:
Where did you find this? I don’t think the L trim exists anymore.

Toyota Canada. But imagine it’s an LE… I think they made a mistake.