autos: Leasing vs Buying

[Xtraz2]

which is a smarter choice?

 

[BlvdBrawler]

Buying used, private sale.

 

[King Sun]

Leasing is a fake it til you make it type thing. Yeah you get to turn in your car every year but all that money you give to the company you lose it.

 

[Jayson_bourn]

Depends on your situation

There are alot of people out there that lease and see no value in owning a vehicle

Then there are others who feel like they want their money going towards something....plus if you're going to mod you'll need to own

 

[ThumpDaddy]

Yep, it depends on the situation. My friend did this. He was driving a Ford F-150 paying like $350 a month for it. He had a wreck and they totaled it out. He was already was wishing he had a smaller car that didn't much gas because he had some bills to pay off. So he found some deal where he leasted a Chevy Cobalt for like $169 a month. Well, he missed not having a nice truck to drive but he loved that he cut his gas cost and car note and insurance in half. Within 2 years he paid off all his bills and stacked up enough money to where when it came time trade it in he kept it and paid it off then stacked up some more money got him a nice Dodge Ram and go the notes to where it was a little more than the Cobalt but cheaper than the F-150. He still has the Cobalt and that's his daily driver.

I just see it as long as you aren't trying to live above your means it's all good to lease. But I would rather not have a note at all. If something goes wrong with the car I got now, I would try to get some deal like that and just stack my money. Then do what he did and pay the car off and turn around and get what I really want and keep it as the nice ride and my lease car as the daily driver.

 

[BLAZO da GAWD]

Leasing is a fake it til you make it type thing. Yeah you get to turn in your car every year but all that money you give to the company you lose it.

u do know that most rich people lease right

 

[King Sun]

u do know that most rich people lease right

thats my point though. Only rich people that can write off leases and have the money to throw away can do this .

 

[Return of the Jedi]

King Sun put it best. It's probably really fun swerving around for that year, but when you turn it in, you're gonna realize all the payments could've been an investment in actual purchase instead..cue the face

 

[Dr Dre's ProductionSkills]

thats my point though. Only rich people that can write off leases and have the money to throw away can do this .

wrong... only ppl that use the car withiin their job description can write off the car...

some 50k real estate agent or claims adjuster can write off their car but a doctor cant...


leasing is the best if you know you wnt a new car every couple of years or in my case have 2 other cars paid for but are borderling hooptys and want to acutally drive a nice car without haivng to stick with the same care for 5 or 6 years

ppl arent discounting buying a german car espeically and having to take that car around without warranty.. it gets expensive.... while if you lease basically for the lengiht of your time with the car its under warranty...

i prob wouldnt be leasing a honda accord or a car under 25k...but over 30k or 40 k it would stupid to buy it over lease it if you want a new car every couple of years...unless your getting awesome finanicing like 0% to buy

rich ppl lease cause they want a new car all the time...

 

[No Homo]

You can ALWAYS put the option in to buy the car after a lease just in case you end up liking the car and want to keep it. Or you can hop into another lease right after.

 

[ecnirp1]

it's really based on the type of car you want.

like ole dude above said, if you're gonna cop a large German luxury whip above 60K it makes more sense to lease so that you don't have that expensive maintenance on an out of warranty high-end vehicle.

plus if you drive these kinds of cars, you're probably the type to want the latest, greatest & cleanest whip out, so for that reason being locked into that same vehicle by financing long term would also not be a smart decision.

on the other hand leasing a Ford Fusion, Nissan Altima or the like doesn't make much sense at all. they're regular vehicles that will run for a long time and don't cost a whole lot to finance. plus their owner's are usually on a stricter budget and aren't that concerned with how flashy their ride is.

so in short, leasing is good for some, not so much for others.

 

[HacksawJimThuggin]

if you're gonna buy, buy something like 2 years old with low miles

if you're gonna lease, lease a car which historically holds its value so that the depreciation of the vehicle after the 24 or 36 months or whatever isn't too bad... leasing gets a bad wrap, but it's a great option for someone like myself who wants to always have a new car and doesn't mind having a car payment

 

[TLR Is Mental Poison]

Yep, it depends on the situation. My friend did this. He was driving a Ford F-150 paying like $350 a month for it. He had a wreck and they totaled it out. He was already was wishing he had a smaller car that didn't much gas because he had some bills to pay off. So he found some deal where he leasted a Chevy Cobalt for like $169 a month. Well, he missed not having a nice truck to drive but he loved that he cut his gas cost and car note and insurance in half. Within 2 years he paid off all his bills and stacked up enough money to where when it came time trade it in he kept it and paid it off then stacked up some more money got him a nice Dodge Ram and go the notes to where it was a little more than the Cobalt but cheaper than the F-150. He still has the Cobalt and that's his daily driver.

I just see it as long as you aren't trying to live above your means it's all good to lease. But I would rather not have a note at all. If something goes wrong with the car I got now, I would try to get some deal like that and just stack my money. Then do what he did and pay the car off and turn around and get what I really want and keep it as the nice ride and my lease car as the daily driver.

This is how you do it. If you are not a dude who likes to work on his whip, leasing a basic car is the way to go. You lease it for 3-4 years, and then either change it up or buy it

But what that does is keep your annual expenses low. Lease to buy is basically a 7-10 year finance... which sounds crazy... but isn't when you consider how little interest you pay compared to actually financing a car for 7-10 years. The big thing though is to run the numbers and do it responsibly. Use it to your financial advantage... not to drive a car you can't afford

I think me and wifey might lease if our insurance is cheap enough. You can get a new Civic for like $2000 a year. Beats putting down $10K upfront for a car we would prob only keep for 3-4 years anyway

 

[BlvdBrawler]

King Sun put it best. It's probably really fun swerving around for that year, but when you turn it in, you're gonna realize all the payments could've been an investment in actual purchase instead..cue the face

Been there. That shyt sucked, especially when your paper isn't as right as it was when you leased the car, so you go from driving a BMW M3 droptop to a 3-generation old Maxima with 80k miles.

That was *not* a good year, brehs.

 

[CJ]

Done both leasing, and have bought brand new factory ordered vehicles and I'll tell you this: I would rather wait a year or 2 when that car has taken it's almost 40-50% depreciation hit, and buy it then. Will still have a few years warranty left, and with that 20k+ I've already saved, that will offset some post manufacturer warranty repairs (assuming the car isn't flipped by then.)

But to answer the question, rule of thumb is: if you can't finance, you definitely should not lease.