ok, I'm tossing this out there for advice.

My car is leased. The lease is up on 3/13/07. Yeah, next month. I have two choices here, obviously. I can turn the car in and purchase or lease a new car, or I can buy the car (or refinance). Simple in theory, right?

Well...in order to turn a leased car the following items are required:

- Get the car inspected (no problem, I'm under the allowed mileage)
- Proof of maintenance (big problem, I basically changed the oil every 3,000 miles, bought new tires and had a 40,000 mile or thereabouts checkup...not quite meeting the lease requirements.)
- Receipts for said repairs (which, of course, I don't have)

Plus, if I refinance what's left on the car (about $7,000.00) my monthly payments will stay about the same, albeit for a shorter period of time.

So...if my payments will stay the same do I keep the old car or buy a new one? I don't think I'll lease again...I'm not good enough at keeping receipts, etc.

Advice?

I know this problem well...I leased my Rav because I didn't have the credit experience to purchase it...

My problem wasn't so much the maintenance but the mileage...i was over...um...way WAY over. I ended up financing my the rav for purchase...it worked out well.

I too will never lease again. I drive too darn much.

Is the car worth keeping? That's the key question, I think. If it's worth it then I'd be buying it out. If not, then I'd be looking at a new one. (Mind you, I just bought a brand new car a couple of months ago - there's nothing quite like a new car.)

Is the car in good condition and do you like it?

I've leased various cars for years because I don't want the worry of an older car breaking down. I've never had to produce receipts for anything as far as maint. records go.

But if it is a good reliable car, it may be worth keeping.

Contact the leasing company and see what your options are. Explain that you don't have the receipts. They may say "sorry, you'll have to purchase, then" or they may tell you "bring it in, if it's in good condition you have the option to return". Then, when you know all your options, decide whether or not you want to keep the car.

If the car's in good condition, you like it, and it has decent resale value, I would keep it. Then as it gets to the end of its life (or after 10 years, whichever comes first) see if you can donate your car to a charitable organization and take the tax writeoff.

Personally, I'm not a car-lease person. I'm not way up on owning a home, because of the ginormous costs; but I vastly prefer to own my transportation. It's a control issue (one of my horde thereof, I'm afraid...)

2 things:

1. if you've lived in the same area the whole time, and you have a usual shop you take the car in to have the oil changed, see if they can call up your history on their computer and print you a summary. you might actually find a way to get proof of being a good kiddo.

2. as far as the decision, try to be very cold & practical: go to the kelley blue book website and fig out how much your car in it's current milage/age/state of life is worth. if it's pretty close to what you would owe on the car if you bought it (i.e., a nearly-fair price), and you like the car, keep it. at least you know it's been well-maintained. if, alternately, you're being asked to pay far more than the car is currently worth, get out of it if at all possible. good luck!!

I leased my Jetta (many moons ago) and bought it out at the end of the lease. I would say what most others have. If it is still in good condition buy it out. Drive it into the ground. IMHO having an older car that is paid off is the best route to go as long as the car is reliable. Once you own it your insurance will go down too.

Take it from a former leaser (twice) I wouldn't suggest buying the lease out right unless you love it that much...then sure. But you are paying a heck of a lot for that ONE car in the end.

Also, all those receipts and the maintence you had, it's good to bring with ya, but chances are they don't care. I've never been asked for any of my records. I had an Acura (Honda family) and they never required those documents, but things might be changed now. You can get out of just about anything with a lease.

Since you bought new tires and the mileage is good and the car has been taken care of and the refinancing won't be too long it sounds like a keeper imho. :)

I've leased multiple times and wouldn't worry about the receipts. I would also not buy the car unless you're absolutely totally in love with it...Maybe not even then...:-)

I think leasing is fine if you drive a limited number of miles and habitually turn a car over every 3-4 years. Essentially you end up with the same paradigm whether you lease or buy unless you keep it for long periods 5 or more years.

I'd suggest figuring out what new car you want and then going to that dealership and "trust me" they will be more than happy to help you smoothly exit your existing lease and into a new deal (lease or buy). You can probably trade it in now and get them to pick up the final payment as part of closing the deal.

Two additional suggestions. I would research your planned new car to find "blue book" price lease/buy from sites like Autobytel to evaluate what you should go in with as a negotiating starting point. I would also time your visit towards the end of the month when the dealership is trying to make their numbers. You'll have more bargaining power.

Good Luck and have fun in getting your new toy...:-)