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More on Ending My Car Lease

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Education & Training with Sparta Success Systems

It seems that there is more to this lease ending thing than I ever realized.  It is not enough to just turn one's car in.  One must also have an inspection done.  Well, the girl who set my appointment for this inspection said I had to have ALL of my maintenance records for the last four years available to the inspector.  So I spent 3 hours today digging through records and receipts looking for all of the data (the accountant left my records in total disarray - something I hadn't realized until today), only to have the inspector show up and say that he only needed the last vehicle maintenance which was the oil change receipt that had been sitting in my wallet and I found in 5 seconds since I'd had it done a week ago.  Needless to say, the scheduling company and I had a LONG talk about the value of my time. 

Sigh.  I've got a headache. Only two more weeks (and $600 in over-mileage fees) and I'll never have to deal with this again.  Repeat after me:  I will never lease a car, I will never lease a car...

But at least there is one good thing coming out of this.  I've gotten motivated to sort through all of my records for this year to get them ready for the accountant.  (Are your records accountant ready?  Tax season is upon us!)  So I'm off to watch a feel-good movie and shuffle papers.  Have fun all!

 

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Kelle Sparta, author of The Consultative Real Estate Agent, is one of the top innovators in the industry. She thinks outside of the box and she does it with style, which is how she managed to sell 25 houses her first year in the business in a market just like this one in an area where she had no sphere of influence! Kelle's innovative techniques took her to the top of the market in 1993 and they can take you there now. Kelle has coached agents from around the country who have been producing as much as $45 million per year in gross volume. Now she brings her unique style of real estate to you. Her dynamic presentation skills, high energy approach, and brilliant new ideas are sure to be the highlight of your day. Kelle is the founder of Sparta Success Systems, a real estate training company that provides products, coaching and training to empower agents and brokers to create lives and businesses they can love. For more information, visit her website at http://www.spartasuccess.com/. © 2009, Kelle Sparta.

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John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

Kelle I have never leased a car myself.  But, I have heard of the hassle when turning the car back over to the dealership.

Jan 21, 2009 07:27 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

I cannot imagine a real estate agent leasing a vehicle.  But, strangely, many do.  The mileage will break the bank.

 

Jan 21, 2009 07:30 AM
Kathy Toth
Ann Arbor Market Center Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Experts - Kathy Toth Team

Other than being able to more easily upgrade when new cars come on the market, I really don't see how leasing is a benefit over outright buying. Glad your ordeal is almost over!

Kathy

Jan 21, 2009 08:15 AM
Kelle Sparta
Sparta Success Systems - Somerville, MA
Real Estate Trainer and Coach

For the record, four years ago when I leased the car, it had been my plan to buy the car when the lease ended.  Otherwise, I would have been more careful with the mileage or bought additional mileage up front.  At the time I bought the car, I lived in the suburbs and wasn't planning on moving.  But now, four years later, I'm living in the city and being car-less is a far more viable option.  Shows that you really can't predict the future.

Jan 21, 2009 08:21 AM
Renae Bolton
Marketing 4 Realtors - Garfield Heights, OH
I'm your Professional Real Estate Marketing VA!

My sister used to lease her car.  She now has the same mantra you do.  "I will not lease a car again.  I will not lease a car again."  It was awful for her when she turned it in.  I feel for you and glad you're almost out of it!

~Renae

Jan 21, 2009 10:01 AM
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.

I really never understood the leasing thing but some here swear by it. My assistant has leased for ten years and she loves it. Good luck I am enjoying reading your post.

Jan 21, 2009 11:17 AM
Kelle Sparta
Sparta Success Systems - Somerville, MA
Real Estate Trainer and Coach

What's interesting for me is that Honda, which has been particularly bad at receiving feedback in the past (their owner's site online has NOWHERE for you to put in suggestions or communicate with the company in any way) has been really good about this process.  (The inspection company is a contractor.)  I've negotiated down my mileage overage because it took two weeks after I signed the lease to actually receive the car, so they gave me half a month's payment off of my overage amount.  I also intend to try to negotiate with them for the new tires and brakes I had done in the last year when I was expecting to buy out the car.  We'll see how well I do.

Thanks for the comments, guys.  I wasn't sure whether anyone would find this topic interesting.  It's good to know that someone is reading.

Jan 21, 2009 11:45 PM
Anonymous
Rob

It baffles me, the number of people who say they've had problems with leasing. I've leased about a dozen cars in the last 25 years, and have never had any of the problems mentioned.

 

Today there are still a number of good leases out there. Please see my website blog for good lease values.

 

http://productreviewratings.com/2009/02/top-10-car-leases-february-2009/

Feb 11, 2009 02:38 PM
#8
Anonymous
Rob

April 2009 Car lease specials are out and there are some pretty good deals. I still say, you can't beat a lease.

Don't let your last bad experience distract you from trying it again.

 

Check out the Civic Hybrid. Wish I could lease my new Subaru all over again. I might choose the civic this time.

 

http://productreviewratings.com/2009/04/april-2009-car-lease-specials/

Apr 05, 2009 03:03 PM
#9
Anonymous
Salma01

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Jun 16, 2009 07:21 PM
#10