VWTOBENZ

What lease term did you go for? and why?

topsider

36 months because i dont think i can mentally keep a car longer than that lol

chango450

36 months, then it's onto bigger and better things

LateC300

this

Mike5215

Agree. I get itchy at two years. Plus currently it looks like the sweet spot on residual is at 36.

VWTOBENZ

In Canada currently, it is 72% FOR 24MO, 64% FOR 36MO, 63% FOR 39MO. Does it mean 39MO term is the best value?

LAC300

36, always ready for a new car after 3 years.

Mike5215

The higher the residual number the more the car is worth at the end of the term. Since on a lease your paying for the difference between what you buy the car for and what it'll be worth at the end divided by the number of months in the term, a high residual is good, but 24 months is going to be a high payment. Really, since there's only a point between 36 and 39 I'd go 39.

darwin329

I have a question.. let say at the end of the lease you want to keep the car or let say purchase it.. do you pay the RESIDUAL value or depends on the market value of the car.. i get confuse with people leasing the car they keep the car if market value is high and they return if low value.. currently leasing c400 i like the car but i was thinking since its discontinued market price valuei s pretty low at the end of the lease.. Maybe you guys can help me so i know what to do at the end of the lease. Thanks

Mike5215

On a closed end lease you can buy the car for the residual. If yours is closed end the buy out value is in your lease contract.

You can also trade a lease car at any time in the lease. The payoff will be the sum of your remaining monthly payments plus the residual.

If you have a lease you've been in for awhile and you're significantly under on mileage, the market value may be enough to get you out plus some equity. Lots of options.