Anyone else MOD a lease?

[Neuf Cruz]

Or am i the only moron? One reason besides money to get the V6 instead of the 8 was that i know that i would get the bug and go crazy with the MODS. I went a step further and got a lease to also help in turning down the urge to MOD. Had my car exactly a month now and phantom grill, side vents and fuel door, Roto Fab CAI, axle back Flow masters exhaust, Zinik rims, springs, MGP caliper covers. Ordering the tail light black out kit and engine cover next.

What is wrong with me? It's a lease and I justify it that I can easily remove and sell in 3 years!

Anyone doing the same?

Neuf Cruz

[CamaroVision]

Not even planning on buying out the lease when it's over....and STILL buying mods? I don't think so..

[Darth Martel]

I have to agree... modding a leased vehicle is nuts unless you're going to buy it at the end of the lease. Yes, you can remove all that stuff but, it just doesn't make much sense.

[Nightfall]

i don't think you should buy mods if your under a lease what if you return it or can't afford it? your basicly screwed or what if something gos worng your no longer under factory warenty screwed again just saying

[Nightfall]

Originally Posted by Darth Martel

I have to agree... modding a leased vehicle is nuts unless you're going to buy it at the end of the lease. Yes, you can remove all that stuff but, it just doesn't make much sense.

[1BADLS3]

I've always found lease terms to be exceptionally unfavorable. I'd only lease a car if I didn't care about it, and it would have to be a car that provides a lot of value in leasing like a premium car BMW/Audi.

[Ir0nM4n]

On a side note, how do you like the Flowmaster exhaust?

[Neuf Cruz]

I thought about possibly buying out! the payoff is $12k and change. I would think in 3 years it would be worth more than $12K. Right?
This is what the dealer is hoping for on a lease anyways! That you just hand over the keys and get another and now they have a car that they can turn around and sell for a small profit so even if not planning on keeping it then why not buy it out and then sell and use that small profit *(maybe a few grand) instead of handing it over to the dealer to make? Besides the CAI, not sure what would void the waranty! i can easily put back on the factory one if i think it something with the engine.
I know it's stupid and that's why i was asking. Just wanted confirmation from you guys that i'm still an idiot!

Neuf Cruz

[1BADLS3]

Originally Posted by Neuf Cruz

I thought about possibly buying out! the payoff is $12k and change. I would think in 3 years it would be worth more than $12K. Right?
This is what the dealer is hoping for on a lease anyways! That you just hand over the keys and get another and now they have a car that they can turn around and sell for a small profit so even if not planning on keeping it then why not buy it out and then sell and use that small profit *(maybe a few grand) instead of handing it over to the dealer to make? Besides the CAI, not sure what would void the waranty! i can easily put back on the factory one if i think it something with the engine.
I know it's stupid and that's why i was asking. Just wanted confirmation from you guys that i'm still an idiot!

Neuf Cruz

I think what you have to look at is, is it worth putting another $12k into owning the vehicle, after you've leased it for 3 years?

Consider a typical lease agreement:

$1000-$2500 due at signing
$299/month for 36 months

I don't know what your terms are, but based on the sample above, you're paying $2500 + ($299*36) + $12k = $25300 for the vehicle over 3 years, and depending if you plan on financing the buyout, you could be an additional 3-5 years into paying off the vehicle. (you need to calcuate what the interest would cost you as well).

I would think a payment of like $359/month is more likely on a V6 Camaro, so it's possible you'd be paying even more to complete the lease.

THEN, you add in the cost of mods

So, yes, from a business standpoint, you're an idiot, but if it makes you happy and it's what you can afford, that's a value-weighting system that nobody but you can argue with.

[Neuf Cruz]

Originally Posted by 1BADLS3

I think what you have to look at is, is it worth putting another $12k into owning the vehicle, after you've leased it for 3 years?

Consider a typical lease agreement:

$1000-$2500 due at signing
$299/month for 36 months

I don't know what your terms are, but based on the sample above, you're paying $2500 + ($299*36) + $12k = $25300 for the vehicle over 3 years, and depending if you plan on financing the buyout, you could be an additional 3-5 years into paying off the vehicle. (you need to calcuate what the interest would cost you as well).

I would think a payment of like $359/month is more likely on a V6 Camaro, so it's possible you'd be paying even more to complete the lease.

THEN, you add in the cost of mods

So, yes, from a business standpoint, you're an idiot, but if it makes you happy and it's what you can afford, that's a value-weighting system that nobody but you can argue with.

I dont think I would buy to keep but to flip. If the payout is $12k and lets say its worth $15K the why not just buy it and sell it? Not arguing but trying to make myself feel better!
And yes, making the car look good makes me happy and never been smart with my money anyways!

Neuf Cruz

[Yahtzee]

Idk about that move....

i look at it like leasing a home... would you put new siding on the house and take it off when you leave? or any other mods.

Just doesnt make sense IMHO

[NYJets77]

I've made some (removeable) mods to my leased Camaro, but I like it so much, I'll almost certainly keep it.

I don't think I'm a moron, but opinions vary.

[ss=scuba steve]

No...I wouldn't ever lease a car anyway (know people that have been squirreled on that)

[daveagogo1]

If i ever did lease a vehicle and that's never going to happen. I certainly would not mod it with anything i couldn't take off in a few minutes and leave no trace the mod was ever done. Springs and an exhaust on a leased car is too much.