ANyone else having trouble getting a lease in NY? It seems that leasing companies are gettin gout of NY due to some stupid law that says if you get in an accident, the person can go after the company, not the individual.

My dealer says that he only has 2 lease companies left, and they only will offer 48 month leases, and the lease payments are still high. On a $31000 car he's "estimating" low $500s.

Anyone else have better luck than me in NY?

 

my brother inlaw lease a 2004 expediction but it has the balloon program. he can buy after lease is over in ny.

 

That is not a lease....its a finace with a balloon payment in the end but u own the car....in a lease u do not own the car. U can trade the car in early and in a lease u would be responsible for the payment not made if u decide to get rid of the car.

 

Balloon payments and leases are basically the same thing. They have balloon payments in Texas as well, since they don't allow leases. It's just another way to get around restrictive lease laws.

Maybe that would work for you instead of a lease, RX8lover.

 

Somebody should tell my leasing company that they're breaking the law, then.

Seriously, where did you get the idea that leasing is not alowed here?

 

Ok, perhaps it's just very restrictive. When we had new car dealerships in Texas, we didn't do leases, we did balloon payments. And my understanding from our legal department was that they were not allowed. In any case, it's been two years since we closed our new car franchises there, so maybe things have changed.

(edit : I just went and asked one of our lawyers to remind again why we never leased in Texas- it's because you get double taxed. Not only do you get taxed on the overall amount financed, but you get taxed on every payment. Not that you guys really care, but I thought I'd try to redeem my info a bit)

 

The English Banks banks in NY - particularly Barclays will do leasing.... Rochester will definitely do it....

 

Barclays? Rochester? Please tell me more! This will be my first time leasing, and don't want to get stuck with what Mazda only has to offer. Where should I go to get information?