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Posted in Auto Loans
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Question By
allsnsct

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I'd like to trade in my $568 car loan for a lease special. Good idea or bad idea?
My financed loan is killing me;my cs ranges 580's to low 600's; Honda has some really good deals on car leases. I'm on a fixed income, so I can melt down with the smallest financial bomb that comes every so often and I'm never prepared for; trying to get all expenses down to the minimum.

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Top Contributor
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Leases can be dangerous, because if you exceed the mileage allowed, you will have to pay a hefty fee. Something like 18 cents a mile. You also have to return the car clean and in good shape. I believe fees and costs might be calculated differently too, although I have no personal knowledge. Read articles online and talk to friends or family to see if they've had experience with this issue.

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