Rich people straight up buy Ferraris, Porsches, and Lamborghinis, but no financing.
Tips for a vehicle leasing virgin??
- Thread starter Rev
- Start date
na i would love to get a new Ford Explorer, GMC Acadia or something in that class. I know people hate on american makes, but i dunno. the new Odyssey's are nice tho, not your typical "minivan"....and you know i'm Dominican anyway.
you say it's stupid to buy a car. that's different than financing, right? so you are pro-leasing?
I'm pro leasing, I've owned cars and trying to sell them after is fukking annoying, everyone in here talking about how much money you pay up front on a lease probably hasn't had to sell a car for $10,000+ less than what they paid for it. It's a depreciating asset and it's better to let the dealer handle that depreciation.
The only cars I'd tell people to buy are niche vehicles, economy cars (ie. you're driving 100 miles a day) or secondary weekend cars that they KNOW they will hold onto for a decade or more. Outside of that, buying a car is fukking stupid.
And I forgot about your peoples' affection for Minivans, that Odyssey probably reminds you of the Mazda MPV, those shyts were heavy in the heights
Rich people straight up buy Ferraris, Porsches, and Lamborghinis, but no financing.
Sports cars that can retain value, or increase in value.
That's not that same as taking out a loan on a 2015 Toyota Camry
excellent...this is along the lines that i was thinking, and i'm glad you co-sign.I'm pro leasing, I've owned cars and trying to sell them after is fukking annoying, everyone in here talking about how much money you pay up front on a lease probably hasn't had to sell a car for $10,000+ less than what they paid for it. It's a depreciating asset and it's better to let the dealer handle that depreciation.
The only cars I'd tell people to buy are niche vehicles, economy cars (ie. you're driving 100 miles a day) or secondary weekend cars that they KNOW they will hold onto for a decade or more. Outside of that, buying a car is fukking stupid.
And I forgot about your peoples' affection for Minivans, that Odyssey probably reminds you of the Mazda MPV, those shyts were heavy in the heights
i just gotta deal with paying that $2K up front, and i'm hoping i can get one of those 7 passenger vehicles for $300 a month with my credit history & driving record. hope that's feasible, since i don't really know the ranges.
Not really. The uber rich will buy the latest sports car whether or not it retains value. Drive for a year or two. Then, trade it in. It's lost value through depreciation. But they don't care. They just buy another one.Sports cars that can retain value, or increase in value.
That's not that same as taking out a loan on a 2015 Toyota Camry
Look around for no money down leases, see if you can get the dealer to offer the last years model.
I'd never buy a new daily driver, just makes no sense to me and I rarely like to keep cars more than a few years. Only exceptions were when I was into sports cars.
No, they really don't.
http://activerain.trulia.com/blogsview/98802/why-wealthy-people-lease-their-cars
The incredibly rich will buy their exotics, but all of their daily drivers (Benz, BMW, Rolls) will be leased. You're trying to use exotic cars as an example, they fall outside the realm of what we're talking about.
There's varying degrees of rich people.
1. There's billionaires and multi-millionaires.
2. There's upper middle class and lower middle class.
I'm not saying they don't lease cars, depends on the person.
But what do I know, I drive a Mazda Protege.
88m3
Fast Money & Foreign Objects
There's varying degrees of rich people.
1. There's billionaires and multi-millionaires.
2. There's upper middle class and lower middle class.
I'm not saying they don't lease cars, depends on the person.
But what do I know, I drive a Mazda Protege.
Of course...
In my experience most people lease RR's and Porsches for reference.
Idk about Ferrari or Lambo life
HookersandIceCream
#TeamOrange
My next car will be a lease.I been researching leading options for the past few years. I'll share my thoughts in a bit.
new Odyssey's are nice tho, not your typical "minivan"....and you know i'm Dominican anyway.
i been wanting a new odyssey for a minute. my cousin drives one hooked up with about $2,000 worth of speakers and 20 inch rims on it. we either get the civic/accord when we single and then we get a bytch pregnant and move up to the odyssey
i'll be working on my second child this year. so, it's time to get that 7-passenger joint...2 car seats, wife, possible other fam/in-laws. that's why i'm looking at the Explorer, Acadia, etc...or an Odyssey only if i go the "minivan" route.
i got #1 on the way in september. i really wanna get a 7 passenger vehicle because we always got family outings with either my fam or hers, but im about to say fukkit and get a used impala until my pockets get a little looser.
Black Ball
Superstar
Rich people lease their cars because they understand how stupid it is to buy a car. Anyone telling you to buy has never tried to sell their own car in this current market, muthafukkas want car fax, service records dating back to 12,000 B.C. and then will still try to low ball you, all the while you still have $ left on the loan and the car is worth $8,000 less than you paid for it.
Also @Rev, a Honda Odyssey....... you giving up on life already?
Breh rich people may not be concerned with value, but what about a regular 9-5 Coli nikka? If you plan on taking care of your car and owning it for 10 years plus, why would you do anything else but buy? Low mileage CPO's come with new car warranties, Drive Train, etc... You can get a virtually new car for $5K to $10K off the top. A quality 10 year old car gonna still look good and perform well while having no payments to make on it. Leasing is like renting furniture to me.
I would never try to sell a car while still paying on it though.
HookersandIceCream
#TeamOrange
Alrite so heres my take
Leasing makes sense if you are financially responsible
Meaning you are not paycheck to paycheck
Have a few thousand saved up and a steady job
And you like a new car every few years without the maintenance headaches.
I am also in NYC and the biggest thing stopping me is the insurance is extremely high for me(well NYC in general)
And you most likely will have to have full coverage.
Cars lose value like nothing and they are expensive as hell to fix.
Not everyone wants to drive a car that cheap to maintain.
If you don't drive much a lease is cheaper since they have 7500 and 10,000 miles options
But nothing beats having a well running car with no car note.
Leasing makes sense if you are financially responsible
Meaning you are not paycheck to paycheck
Have a few thousand saved up and a steady job
And you like a new car every few years without the maintenance headaches.
I am also in NYC and the biggest thing stopping me is the insurance is extremely high for me(well NYC in general)
And you most likely will have to have full coverage.
Cars lose value like nothing and they are expensive as hell to fix.
Not everyone wants to drive a car that cheap to maintain.
If you don't drive much a lease is cheaper since they have 7500 and 10,000 miles options
But nothing beats having a well running car with no car note.
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