Why Buy when you can LEASE? Ah boy Massy Motors...

[Monk BANzai]

Well look ting. I would love to see public buy in considering that our mentality is that a car is an asset..



Under this agreement, the following terms apply * Customers are responsible for covering the cost of insurance and maintenance of the vehicle
* Customers would not have to face the hassle of looking for a buyer of the vehicle, they could do either one of the following ;
- Purchase the vehicle at a predetermined price
- Finance the residual balance for a new term
- Return the vehicle and lease or buy a new vehicle
* Customers would have to take out a full comprehensive Insurance in their name as well as Massy Finance GFC as the vehicle is owned by Massy Finance
* Up to 100% of the cost of the vehicle could be financed through a loan or a lease
* 24 hr approval can be given, once all documentation is completed and submitted
* All lending terms are subject to normal lending criteria

[abducted]

Lifestyle motors offers a similar plan with Simpson Finance, do not think they refer to it as a lease however.

[ProtonPowder]

Since car loans started being 6-7 years long, for a lot of people out there it becomes less "I paid off my car" to "i have an extra $2500 to spend every month, why not get a new car." Plenty people jumping straight from a PCT to a PDU because of this, and if you give them the chance to do so for a lower monthly payment at the loss of ownership or equity, they would leap at the opportunity to get that new car smell once again.

[pugboy]

hope a lot of ppl jump at it
I own massy shares

[TrinbagoMan]

Anyone did this?

[nervewrecker]

Anyone did this?

Have a lot of old board house with PDU parked in front. No garage to park it self, parked on the road sometime.
buh them rollin in PDU jed, izza PDU, yuh nuh fresher than them.

[Dizzy28]

Anyone did this?

Have a lot of old board house with PDU parked in front. No garage to park it self, parked on the road sometime.
buh them rollin in PDU jed, izza PDU, yuh nuh fresher than them.

Yesterday a RORO car carrier left the port of Port of Spain. Today there is another one.
Cars affi sell!!!!!

[teems1]

Anyone did this?

Have a lot of old board house with PDU parked in front. No garage to park it self, parked on the road sometime.
buh them rollin in PDU jed, izza PDU, yuh nuh fresher than them.

Yesterday a RORO car carrier left the port of Port of Spain. Today there is another one.
Cars affi sell!!!!!

The carrier left POS full of cars because there is a constant demand for new/foreign used vehicles in Trinidad. You can't blame the sellers for stocking up their supply to meet demand.

[16 cycles]

somebody will have to do a side by side loan vs lease with ownership to really see if there is a saving....plus including fully comp for the duration of the lease...

[Strugglerzinc]

Wonder if there is a Mileage limit like in the US

[thelem-again]

I personally would love the option to lease a new vehicle instead of purchase.

New model vehicles do not hold resale value in trinidad. The very fact that a Tiida and Almera can be the same price as a well maintained and excellent new model elantra, cerato etc is ridiculous IMO.

And dont tell me its because its a nissan. Because there are other vehicles that just wont sell even though its a Nissan. Like the Sentras or Sylphy.

I would lease the new 2019 Tuscon and if its like a 5 year lease, give it back for a newer model at the end of the period. The true cost and way Massy would make money out of this is:

1. If the cost of the lease at the end of the time, exceeds the retail value of the vehicle showroom.
2. The fact that you'd be obligate to service and maintain the vehicle at Massy's call and beckoning.
3. Using Massy's Insurance as compared to your own.

[MaxPower]

Its designed to make you pay car installments for the rest of your life.

Btw dearest friends, dont feel u getting any best vehicle to lease for small monthly payments, this aint the USA

[ismithx]

1steups.

own or nothing

[Duane 3NE 2NR]

1steups.

own or nothing

Owning a depreciating asset?

[toyolink]

Lease rental arrangements are really nothing new, actually this is considered the most practical method of having use of a vehicle by many in the developed world.
The local offer doesn't seem to quite fit the first world arrangement and may actually be more like a loan arrangement for a principal value which is equivalent to original cost less projected residual asset value at end of term. All administrative, maintenance and insurance costs being borne by the leasee/borrower.
Something to consider depending on your circumstances.

[Slartibartfast]

1steups.

own or nothing

Owning a depreciating asset?

Yes, if it means one less fixed monthly expense at the end of the repayment period. Also, if we are being honest, car dealerships are not in the business of charity. They will find a way to make it profitable for them which means more costly for you.

Why pay hundreds of thousands of dollars to rent a vehicle for 5 years and then not own it. It may make sense for someone that can afford lease payments for the rest of their life but for many a car loan is something they want to get over with so they can put the money to something else. A car is still a car and if you were in a position where you had to make the decision between a severely depreciated car and no car at all, given the state of our public transport, I am sure you will choose to own a car.

Personally, I got a RORO grocery getter a few years ago. It's worth half of what I paid for it but it's value is still the same to me. It works samer and it still gets me from A to B. This lease to own thing has potential to be a big chain up for those that want cars with the latest number plate.

[skylinechild]

1steups.

own or nothing

Owning a depreciating asset?

Yes, if it means one less fixed monthly expense at the end of the repayment period. Also, if we are being honest, car dealerships are not in the business of charity. They will find a way to make it profitable for them which means more costly for you.

Why pay hundreds of thousands of dollars to rent a vehicle for 5 years and then not own it. It may make sense for someone that can afford lease payments for the rest of their life but for many a car loan is something they want to get over with so they can put the money to something else. A car is still a car and if you were in a position where you had to make the decision between a severely depreciated car and no car at all, given the state of our public transport, I am sure you will choose to own a car.

Personally, I got a RORO grocery getter a few years ago. It's worth half of what I paid for it but it's value is still the same to me. It works samer and it still gets me from A to B. This lease to own thing has potential to be a big chain up for those that want cars with the latest number plate.

Here we have a winner !!!!!

[wickedtuna]

Well men with tida ...almera...vigo and holding price may soon find no one wants those anymore .....paupers like meh self go get a Lil tida 4 small money now

[pugboy]

Where the hire purchase crowd ?

[pugboy]

You mean navara

Well men with tida ...almera...vigo and holding price may soon find no one wants those anymore .....paupers like meh self go get a Lil tida 4 small money now

[*KRONIK*]

Where the hire purchase crowd ?

[wagonrunner]

Hasn't vehicle leasing has been taking place at least since those 2003 Vitaras, if not before.?

[snatman]

hope a lot of ppl jump at it
I own massy shares

Petrotrin's closure may have a considerable impact on Massy's revenue (Massy Energy)
Massy stores' reusable bag push has affected sales.
Car sales in Colombia has been down and margins there are thin.

However if you're holding for the long term, you should be good esp. when things start happening in Guyana!
Good luck!

[pugboy]

Hope so, been a owner since 1995 when I bought a bunch at $2

hope a lot of ppl jump at it
I own massy shares

Petrotrin's closure may have a considerable impact on Massy's revenue (Massy Energy)
Massy stores' reusable bag push has affected sales.
Car sales in Colombia has been down and margins there are thin.

However if you're holding for the long term, you should be good esp. when things start happening in Guyana!
Good luck!

[snatman]

wow!!! great discipline in holding on!
I've lost out on huge gains from selling too quickly

Hope so, been a owner since 1995 when I bought a bunch at $2

hope a lot of ppl jump at it
I own massy shares

Petrotrin's closure may have a considerable impact on Massy's revenue (Massy Energy)
Massy stores' reusable bag push has affected sales.
Car sales in Colombia has been down and margins there are thin.

However if you're holding for the long term, you should be good esp. when things start happening in Guyana!
Good luck!

[l33t2]

Wow this is cool, now I can save money and get a better car

[nervewrecker]

Most new cars built weak and on a budget I find.
Gimme and older car in better condition anytime.
Only new vehicle I could have seen myself buying was the isuzu dmax

[ras_elmo]

Lease will probably also require maintenance per their schedules and at their specific location and using solely dealer supplied parts (aka hard jam) as well as may have restrictions on modifications/customization.
This will be very attractive for those who run down new/recent plate car bling.

[nervewrecker]

They not ballin unless their vehicle maintained by de firm.

[Slartibartfast]

Most new cars built weak and on a budget I find.
Gimme and older car in better condition anytime.
Only new vehicle I could have seen myself buying was the isuzu dmax

Some cars are just lemons. The ones that are lemons are less likely to have a long service life so used cars should have a lower probability of being lemons. If you find one that well maintained and in good condition then you get through.