Dealer vs. Leasing Agent

februarybride Posted: Sep 11, 2003 12:14 PM

Dealer vs. Leasing Agent

Anyone ever deal with a leasing agent to get a car? The lease on a car we'd like to get is cheaper if we get it through a leasing agent rather than straight from the dealer.

Any info would be great! Thanks.

chmlengr Posted: Sep 11, 2003 12:41 PM

Re: Dealer vs. Leasing Agent

I currently lease my car through the dealer (hubby!). I have not heard of anyone ever using a leasing agent... However, I do know that because of the vicarious libaility law in NY, most banks are not financing leases anymore. What state are you thinking of leasing in?

februarybride Posted: Sep 11, 2003 12:46 PM

Re: Dealer vs. Leasing Agent

Either NY or NJ is where we're going to get the car from. We live in NY.

DH is aware that Honda/Acura are not leasing in NY - are there others?

chmlengr Posted: Sep 11, 2003 12:51 PM

Re: Dealer vs. Leasing Agent

Yes, but it's not the type of car you lease, it's the banks who are not financing the leases. I know GMAC Financing is no longer doing it (any GM car) as is JP Morgan Chase among others. I can ask hubby is it's still possible to lease a car in NY, but I don't think so.

ETA - I leased my car last year, just before they stopped doing leases in NY.

There are other financing options now equivalent to a lease. Essentially it's the same, but instead of the bank holding hte title, you do.

februarybride Posted: Sep 11, 2003 01:34 PM

Re: Dealer vs. Leasing Agent

Thanks. Any additional info you can provide is appreciated!

Rob-luvs-me Posted: Sep 11, 2003 03:25 PM

Re: Dealer vs. Leasing Agent

Honda will do some leases apparently we found this out when dad was deciding where to lease me car. We decided to go to MI since we wanted a 4 year/15,000 miles (Honda CR-V EX)

They told us the lease was thru Han (sp?) or Hon? And you can only do 3 years 12,000 - to do more than that you had to get a balloon payment - which you pay a certain amount a month - and the car is basically yours - but you could turn the car in in 3 or 4 years as if with a lease - but the car is essentially your rather than the banks.

They are doing this in NY and Conn - b/c NY and Conn have a new law that allows someone in an accident to sue not only the driver but the owner of the car - so companies like chase who were leasing cars were getting hit with HUGE lawsuits when their cars were getting into accidents

kelly6273 Posted: Sep 11, 2003 04:01 PM

Re: Dealer vs. Leasing Agent

Christine...This must be a new policy. I leased my Honda CRV EX in March and we have the 4 year/15,000 mile. That's strange. Where did you go?

februarybride Posted: Sep 11, 2003 04:15 PM

Re: Dealer vs. Leasing Agent

The leasing issue started in July so if you bought prior to that you were fine.

susans Posted: Sep 11, 2003 04:24 PM

Re: Dealer vs. Leasing Agent

We just leased the BMW X5 last month. There are actually a handful of car companies that have their own financing companies so the option to lease is still there. Not many though...