Well, they pay for the maintenance on the car, so if something goes wrong that's not your fault, then they replace it.
As far as if you're in an accident, you would have to work that out with the dealer based on the lease's requirements. I generally don't do the cheaper, after market repairs anyway and take it to the dealer for repairs. I would also hope that if I were to be in an accident, I wouldn't be at fault (and my track record is good on that one...other drivers are lunatics but I'm a good driver).
This is one reason I'm asking for my dad's help: having free use of a lawyer is very handy. Even if that lawyer does think I should get a Buick and I'm like, "Yeah...no"
Aside from the price of the new bats, this part of the article really caught my attention...
Leah Zeamer, John’s mother, said she was already in deep for this year’s baseball budget. John wears adult sizes, and everything needed to be replaced: a helmet ($50), two pairs of pants ($70), batting gloves ($20), cleats ($70) and catcher’s gear ($200).
When I played Little League and Pony Colt ball, the only things we had to provide ourselves were a mitt, cleats, and a batting glove (if you wanted one - I never did).
All the rest, including the bats, uniforms, batting helmets, catchers gear, etc., were provided by the team/league.
Boy howdy, times have changed...
I remember just showing up with a mitt and we got sponsored Tshirts. It was that way for both baseball ad softball.
Definitely pros and cons to both. I think the lure for some people is that it's reasonable monthly payments, and you get to drive around a new car for 3 years (with specific mileage limitations). Sure, they don't get to keep it, but I think part of the problem nowadays is the incredibly high prices they are charging for new cars. Not everyone can afford it, and some "settle" for leasing a car instead.
The good thing is that this dealer that does the Hondas is the same dealer that has sold them their Buicks and I believe was the same one that did the lease deals for them on their Oldsmobiles, so the fact that he's even recommending it as an option means he believes that it would be a good option and that they wouldn't try anything, especially since, even though I'm most likely getting a Honda, we're still working with our Buick sales guy, who previously was in their repair department and did all of the work on my car. So I'm kind of trusting that he's not going to try anything on me. Especially since he's also been trying to sell my parents on a new Enclave.
I just wanted to comment on the leasing comments.
I’ve been leasing for most of my adult life.. sometimes I Buy when I know I’ll be driving more than 20k miles per year.. I’ve leased 7 cars though.
Quick breakdown on the comparison-
Lease Benefits-
Bank assumes Risk.
Typically lower payments than a purchase.
Only pay taxes on the price of the lease, not the price of the car.
At the end of your lease you have 3 Options-
Turn in. Buy. Trade. (You can actually trade or buy-out at any point, not just the end)
If you have equity in your car- you can use that equity and trade in.
If you have negative equity- you simply hand in your car.
Where people get most confused on leasing is- it’s really no different than financing a car when it comes to trading, you’re actually in a better position because your taxes were less, which means less chance of negative.
As far as “accidents” there’s no difference between lease or buy, your insurance handles it exactly the same.
Imo, unless someone keeps their car 8+ years, probably 10+ based on most vehicle prices, or drives over 17k miles per year- then there’s absolutely no reason to “buy”.
Leasing does also include GAP insurance from most brands, which is an added bonus..and including that makes a low down payment attractive, compared to a buy where you should put at least all of your taxes, fees, and some towards the price of the vehicle itself (especially now that interest rates are higher than they’ve been in several years).
Luxury brands usually include service, Honda and Chevy (as well as other brands) do not... but you can pay for it ahead of time and roll it into your lease.
If you know you’re going to be buying a new car every few years,. Or are fickle and get easily wooed by new technology.. leasing is by far the best option, buying will just end up costing so much money if you trade that quickly.. a car is the most depreciating asset one can buy.. but people get so stuck on “buy” as opposed to lease.. you just have to remember that if your “buy” is actually a bank loaning you the money to buy, then the bank owns our car, not us.
The majority of Americans never actually end up paying off their car, therefore they never actually owned it.
Some do pay off their loans and keep the vehicles for at least a few years after doing so, they’re the only people who are getting their money’s worth, and it would be a waste of money for someone like that to lease.
Hope this was helpful!!
