Cheapest way to lease in this situtation

[lovemuffin]

I am trying to relocate very quickly from Washington D.C. to Lexington, KY for two years. I am a New York state resident with a driver's license there. I had a car in NY that I sold to my mom, but I think I am still registered with that car, a 2007 Ford Focus. I need to get a car and move my stuff from D.C. to Kentucky very soon to start a new job. I didn't need a car in D.C., but I will need one in KY.

My question is, would it be cheaper in terms of licensing and registration fees to lease a car from a New York dealer? Also, would it be cheaper to go in on my mother's insurance than getting my own? I could pay to lease a car and give my mom the car, taking over the Focus (which used to be mine) if that is cheaper. The car is older, but in good condition and I'm willing to save money where possible. On top of the cost of leasing, I want to pay as little as possible in extra taxes and fees, etc.

Also, if you think I will find better, cheaper deals for leases in Kentucky or D.C., I could go that route too. I just need a car quickly for two years and don't want to overpay. I thought maybe since I already owned the car in NY, taking that over might have less extra costs associated with it. Thoughts??

[Ray paulsen]

You think you are still registered ? if you are then take the car back and find affordable transportation for mom is just one avenue that may work.

You thinking lease - I don't have a clue what type budget " payments " you are thinking, but can tell you a 2 year lease is considered short term and very costly.

Sure you can go in on your mothers Insurance " but " the moment there are 2 cars involved you will not benefit.

It's kind of hard to submit a valid answer to your Q,,, but if you care to pursue this Q further, answer following.

1,,, When you think lease for 2 years instead of purchase or finance, I am interested as to know what made you arrive at that decision ?
2,,, What kind of payments would be within your budget having a 2 year lease ?
3,,, How is your credit rating ?
4,,, Have you got any funds towards a vehcle at this moment ? if so , how much ?

[lovemuffin]

Originally Posted by Ray paulsen

You think you are still registered ? if you are then take the car back and find affordable transportation for mom is just one avenue that may work.

You thinking lease - I don't have a clue what type budget " payments " you are thinking, but can tell you a 2 year lease is considered short term and very costly.

Sure you can go in on your mothers Insurance " but " the moment there are 2 cars involved you will not benefit.

It's kind of hard to submit a valid answer to your Q,,, but if you care to pursue this Q further, answer following.

1,,, When you think lease for 2 years instead of purchase or finance, I am interested as to know what made you arrive at that decision ?
2,,, What kind of payments would be within your budget having a 2 year lease ?
3,,, How is your credit rating ?
4,,, Have you got any funds towards a vehcle at this moment ? if so , how much ?

Well, I only need the car for two years and buying would equal years of payments. If I can lease for around $200 a month (Honda is having a special) that would be less or equal to monthly payments of purchasing, but without the longterm obligation. I have some savings, but I will need them for other things. I want to do $0 down or an extremely low down payment. I worry about locking myself into a lease, but I worry more I will buy some sort of used car and then it will break and I will pay hundreds in repairs.

Basically this is the situation currently: my mom found a Honda Civic for $224 a month fortwo years with $500 for the cost of registration, plates, etc. I would take the 2007 Ford Focus I used to own and my mom would drive the leased car while I make the lease payments. I'd also go on my mom's car insurance, which I think I am still on. The cost would just go up with the second car. I told my mom to ensure a warranty covers the full lease term. I just need a car but don't want to spend a lot. I'm going to drive this car across country with all my stuff so I want to be safe, too.

[danielsatur]

Get a 2-year lease with zero down!
Only if you got good credit + driving record, and register in another state.

[lovemuffin]

Originally Posted by danielsatur

Get a 2-year lease with zero down!
Only if you got good credit + driving record, and register in another state.

What is the difference in cost based on where I register it? Honestly, I don't know that I'd qualify for a lease so my mom being the one taking out the lease helps. Would it be cheaper to lease in Kentucky?

[Ray paulsen]

I would sure like to know the link where your mom found this car, so I can check the deal for red flags.

I really am happy you told mom that's bullshit getting out of a lease after 2 years,,, I just know there is more hidden factors, than meets the eye in this deal.

I must tell you up front, I am not a fan of any type lease,,, here is an excerpt from my website on the matter.

Don't Let Emotions Overide Your Signature
You must FULLY understand the contract when leasing a vehicle.
Whatever terms you agree to and sign, be 100% sure you will want to keep it for
that term and fully understand the fine print. If you went to jail for 3 or 4
years, you would most likely be released early based on good behavior. Not so
with a lease! There is no parole without severely hurting your
pocketbook.

[danielsatur]

The big savings is probably what state it's registered, insurance, tags, personal property tax.

Alot of truck drivers like Oklahoma. Your primary job might be in DC, but you can do business is several states.
Avon, Tupper ware, Herbalife, or Pre Paid Legal services.

You can write the lease, fuel, hotel, and outher business expense off your taxes.

[lovemuffin]

Originally Posted by Ray paulsen

I would sure like to know the link where your mom found this car, so I can check the deal for red flags.

I really am happy you told mom that's bullshit getting out of a lease after 2 years,,, I just know there is more hidden factors, than meets the eye in this deal.

I must tell you up front, I am not a fan of any type lease,,, here is an excerpt from my website on the matter.

Don't Let Emotions Overide Your Signature
You must FULLY understand the contract when leasing a vehicle.
Whatever terms you agree to and sign, be 100% sure you will want to keep it for
that term and fully understand the fine print. If you went to jail for 3 or 4
years, you would most likely be released early based on good behavior. Not so
with a lease! There is no parole without severely hurting your
pocketbook.

Yes, I knew a three-year lease would not be breakable. That's why we went from $190 for three years to $224 for two. Anyway, she is dealing with a local dealership there in NY, but this is the nationwide promotion run by Honda: http://automobiles.honda.com/current...3BEW&sf=2&ft=2 We have to pay $500... I'm not sure why. My mom said so they can take care of registration, license plates, etc. for us. I don't know if she is being worked. I said the deal is supposed to be zero down, she said that $500 is how much it costs to process everything and take care of everything.

My mom qualifies for that sort of lease and I wouldn't. Also, I'm going to put a lot of miles on it by driving from NY, to D.C. to Kentucky. In 2012, I will move again and need to drive it wherever I move. So I might exceed the lease limit and she wouldn't. So I will drive a 2007 Ford Focus I used to own and she'll get a new Honda for two years. Is this an OK deal? I feel if I bought used or something, I could save and if I bought new, I could overpay. I just need to do this fast (moving in a few days) and don't want to waste a ton of money. Also, the Honda promotion ends today.

[lovemuffin]

Originally Posted by Ray paulsen

I would sure like to know the link where your mom found this car, so I can check the deal for red flags.

I really am happy you told mom that's bullshit getting out of a lease after 2 years,,, I just know there is more hidden factors, than meets the eye in this deal.

I must tell you up front, I am not a fan of any type lease,,, here is an excerpt from my website on the matter.

Don't Let Emotions Overide Your Signature
You must FULLY understand the contract when leasing a vehicle.
Whatever terms you agree to and sign, be 100% sure you will want to keep it for
that term and fully understand the fine print. If you went to jail for 3 or 4
years, you would most likely be released early based on good behavior. Not so
with a lease! There is no parole without severely hurting your
pocketbook.

Yes, I knew a three-year lease would not be breakable. That's why we went from $190 for three years to $224 for two. Anyway, she is dealing with a local dealership there in NY, but this is the nationwide promotion run by Honda: http://automobiles.honda.com/current...3BEW&sf=2&ft=2 We have to pay $500 down... I'm not sure why. My mom said so they can take care of registration, license plates, etc. for us. I don't know if she is being worked. I also asked about warranty -- she said she was told the warranty will last through the lease and covers "everything."

My mom qualifies for that sort of lease and I wouldn't. Also, I'm going to put a lot of miles on it by driving from NY, to D.C. to Kentucky. In 2012, I will move again and need to drive it wherever I move. So I might exceed the lease limit and she wouldn't. So I will drive a 2007 Ford Focus I used to own and she'll get a new Honda for two years. Is this an OK deal? I feel if I bought used or something, I could save and if I bought new, I could overpay. I just need to do this fast (moving in a few days) and don't want to waste a ton of money. Also, the Honda promotion ends today.

[Ray paulsen]

You done your homework well, the link is very valid,,, just make sure you fully understand and agree with the dealer fees

Good luck, with your new venture

http://www.usedcartips.org/

[speediva]

Did you ever come to a conclusion? Let us know!

Oh, and the line from "Sweet Home Alabama" is right - you really SHOULD need a passport to come to the South! I moved to Nashville, TN from Pittsburgh, PA 2 years ago and it's another world.

Good luck!

['97ventureowner]

Originally Posted by lovemuffin

I am trying to relocate very quickly from Washington D.C. to Lexington, KY for two years. I am a New York state resident with a driver's license there. I had a car in NY that I sold to my mom, but I think I am still registered with that car, a 2007 Ford Focus. I need to get a car and move my stuff from D.C. to Kentucky very soon to start a new job. I didn't need a car in D.C., but I will need one in KY.

My question is, would it be cheaper in terms of licensing and registration fees to lease a car from a New York dealer? Also, would it be cheaper to go in on my mother's insurance than getting my own? I could pay to lease a car and give my mom the car, taking over the Focus (which used to be mine) if that is cheaper. The car is older, but in good condition and I'm willing to save money where possible. On top of the cost of leasing, I want to pay as little as possible in extra taxes and fees, etc.

Also, if you think I will find better, cheaper deals for leases in Kentucky or D.C., I could go that route too. I just need a car quickly for two years and don't want to overpay. I thought maybe since I already owned the car in NY, taking that over might have less extra costs associated with it. Thoughts??

I would first start by getting some quotes from both NY and KY car dealers on the vehicle you'd like to lease. I would think leasing a vehicle in NY might be a lot more due to the assorted fees associated with leasing. Add to that the current fiscal crisis has made the former Governor decide to issue new license plates to bring in needed revenues that took effect last April. There is an added $20 fee on top of the normal registration costs which also went up recently. It also may depend on which county you reside in that may determine any additional costs in the registration process. Our county executive instituted a $10/yr additional fee on vehicle registrations to make up a budget shortfall when the anticipated sales tax revenues went way down due to the downturn in the economy. I have heard of other NY counties also doing the same thing (adding a surcharge onto vehicle registrations to gain additional revenues.) I just renewed my registration and I paid $108 for 2 years (NY uses a 2 year registration program.) Two years ago I paid around $60 for 2 years . It is possible that in Kentucky the rates and fees may be lower, thus reducing the costs of leasing the vehicle.
On the question of auto insurance,again I would get different quotes for just yourself being insured and another quote if you went on your mother's policy. Keep in mind that there are other factors which can determine the quote such as driving record, where the vehicle is parked , how many miles are driven in a year, and where you live. It might be cheaper to obtain insurance in KY as they are less populated than NY and there also might be less instances of claims for residents on KY vs. NY which can affect the rates residents pay for their insurance.

[Ray paulsen]

Hey, venture,,, missed you, welcome back - a Mod has returned with excellent input and knows how to run a tight ship,,, yer you made my day a happy one.

[lovemuffin]

Hi, thanks guys. Just FYI, I went ahead with the Honda Civic lease. Thank you all for your input. The plan actually seemed to be working out pretty well and didn't seem too expensive. That is, until I got in a car accident. I made a new thread -- I think I am getting scammed big time. If anyone has insight into dealing with body shops, please check the thread out.

[speediva]

Thanks for updating us, and sorry to hear about your wreck. My area of expertise is definitely NOT auto repair, so hopefully some others can help you with that!