3 Yr Prepaid Lease?

[Mark inLA]

As my extended warranty is about to expire, I'm thinking about trading in my '02 w/55k(owned free and clear) for a 3-year prepaid lease on a new '07 or '08. This way I get to drive a new Trac for 3 years without making adding any monthly payments or worrying about maintenance costs. Anyone have any experience with the value of prepaid lease?



TIA

 

[Les]

Doesn't sound like a bad deal, just as long as you realize at the end of 3 years you have no truck and no money...

 

[Mark inLA]

Yeah, the lost equity doesn't bother me at all. My '02 won't be worth much 3 years from now w/100k miles anyway, and it will have cost me quite a bit in repair costs, most likely. I cannot believe how many thousands of dollars worth of repairs my 3rd party extended warranty has covered in just the last year, and that doesn't even include the more than $1500 that they DIDN'T cover that I had to pay for. I will never again own another car without a full factory warranty.