Would you get this suv?
I am looking into leasing an SUV (used) and I found a 2017 Kia Sportage. It’s $27,248, but they brought it down to $26,284
$183 biweekly. Warranty is 2 years. Lease for 7 years. History report is clean. 48920 km. Would you get it ? What do you think? I am nervous but I want it. What do you think?
It’s an AWD Ex peen.
- David 14Lv 71 month ago
Leasing for SEVEN YEARS? That may be the dumbest transaction in the history of automobiles.
- Jay PLv 71 month ago
I only buy vehicles, not lease them.
But it sounds like you are mixing up leasing with financing. When you lease, you are essentially renting a vehicle on a long term basis but a typical lease is usually around 3 to 4 years. When your lease is up, you either return the vehicle and walk away or you have the option of purchasing it at that point. When you finance a vehicle, it is yours. Financing terms can be longer, including 7 years. Just be aware that the longer you finance a vehicle, yes, the payments are lower BUT you end up paying far more in interest. $183 biweekly for 7 years ends up being $33,306. That is a just over $7000 in interest alone, not counting whatever money you put down initially on the vehicle. $7K is a lot of money...
- Anonymous1 month ago
Dude, if you can afford $400 a month for 7 years, you can afford a NEW one for 3 years (and keep the change).
- Anonymous2 months ago
A smart person wouldn't lease a used car for 7 years @ $366 a month PLUS carrying full coverage insurance for 7 years. You should have a trusted adult help with your car buying .😉
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- A HunchLv 72 months ago
A lease is simply renting the car.
I don't believe that you have your facts straight. I don't think even the scammiest of scam places would rent you a car for 7 years. They don't want it back after 7 years (which is what happens with a lease).
At least you got your interest rate down below 18% which it was 2 days ago.
What's your issue with simply buying a car that you can afford?
People who can "afford" the car don't do bi-weekly loans nor do they do 7 year loans.
- Anonymous2 months ago
A 7 year lease of a USED car with biweekly payments takes a special kind of stupid. You are going to pay some $33k over 7 years and you will be responsible for all repairs & maintenance less whatever warranty work, if any. If the miles are too high, you owe extra. If the tires are bad, you owe extra. If the condition is anything less than good, you owe extra.
- 2 months ago
I thought Kia warranty was 10 years
- G. WhilikersLv 72 months ago
You can do better. 7 years is far too long to be locked into RENTING a USED car. Your predecessor decided not to keep it!
It sounds like you are making a sacrifice or compromise to get it, or the salesman saw you coming and made a weird deal out of it to meet your desired monthly payment.
- Don't fall in love with a vehicle.
- Find out how much car you can really afford ahead of time. Use a loan calculator to explore scenarios (price, down payment, length, interest, etc.), and get pre-approved at your favorite bank.
- Don't negotiate based on payments. That's a favorite tool of dealers who use that as a tool to sell expensive cars to suckers fixated on keeping the payments low. Shop the price.
- artherLv 42 months ago
you think its going to last 7 years how about in 5 years while your still paying it off if something major fails will you be able to afford to keep it on the road. At the end of the 7 years do you own it out right is it a loan or a lease?
- ANDRE LLv 72 months ago
Looking on KBB for 2017 Kia Sportages shows many available for $20K and even a bit under.
The more recommendable mid-trim EX starts at $26,395 new back in 2017.