Never Leasing A Vehicle Again

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I actually had among the most pleasant leasing experiences from Chrysler Financial compared to other leasing companies, but as I turned in my lease this week they company deemed I had no wear and tear costs. This was amazing since there was some windshield dents, a long set of scratches from someone keying my car in the airport parking lot, and a rusted small section of the bumper.

I did however get hit with an almost $900 turn in fee for my lease, disposition fee and over mileage means I paid almost $900 just to turn in my vehicle. A friend of mine paid over $4,500 to turn in his lease once they added up over-mileage and wear and tear on the vehicle.

Even with the company offering to reduce the total price of the vehicle, I would have overpaid like $12,000 for the vehicle if I bought it after the lease came up. Had I financed the vehicle to keep from the start, I would have been better off, but most people lease for the same reason I did and that is to keep the monthly payment low.

So in order to keep costs down and get ahead in this difficult economy we have decided to consolidate to a single vehicle and at least go the rest of the year with only a single car. This is doable because I telecommute from my job 99% of the time, and I can carpool on days that I need to go into the office.

I would suggest everyone out there thinking about getting a lease, you will owe hundreds if not several thousand when you turn your vehicle in. It is not cost efficient and you will get burned, avoid a lease just to save some money on monthly car payment, you will pay much more for it in the end.

-Justin Germino

WPX Support

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Updated: February 25, 2009 — 2:52 pm