when does leasing a car make sense?

[The Bilingual Gringo]

Buy here pay here ain't no joke. My uncle is setting up a BHPH dealer right now and will probably make a good bit of money if he does it right.

People with bad credit need cars too.

If you have the capability to own one or start one up, I'd say go for it. There is a demographic that will always be there to cater. I'd venture to say that MOST of the people will make the payments on time and it'll be fairly stress free. But the ones that do cause you problems, they will definitely be that headache.

I remember a fairly well to do person said that the best money making investment he had were trailer parks, because there was always that demographic looking for cheap places to live. Makes sense.

 

[GatorStaceyAdams]

Leasing makes sense for most people,

Unless you are getting a very nice car that retains value, a car is not a great investment and depreciates terribly.

Lets say you hold onto this whip for 8 years- normal wear and tear, how much % do you think you are going to get if you sell? Basically Pennies on the $ really.

and now you are locked into this car note.

 

[L&HH]

One of the grimiest set ups for a dealership ever. They have been outlawed in a lot of states, but basically they have in house lending, but the interest rates are INSANE, they basically cater to people that have zero or shyt credit, that will basically come in to make weekly or bi-weekly payments.

Here's the catch, if you default, they repo the car and then put it right back on their lot. I found an article on them once, I'll have to go dig them up.

Edit: http://www.latimes.com/business/buy...uy-here-pay-here-part1-storyb,0,5689256.story

shawty put $10k total on the car ($3000 down + 18 x 387) and has NOTHING to show for it...that is a hustle if I aint seen one

 

[dallastexas]

did the math after seeing a mercedes commerical.... basically with the up front 4k due at signing and the payments, you willl be paying like 20k over 2 years to lease/borrow that car to then give it back and be with nothing just to redo another lease,,,, had you of financed what you can afford you would be halfway to ownership

 

[C-NICE]

I work In banking and MOST IF NOT ALL businesses lease. Actually most people in major cities lease cars It makes no sense to own one. A car is one of the worst things you can buy unless its cash plus if its a new model by time you pay it off its gonna be . best of both worlds would be to have a paid off car and lease something newer to drive around for luxury and travel with the money you save on that car note. Ain't nothing like bending your Space Jams flooring the newest benz/lexus

 

[feelosofer]

Leasing only makes sense if it's for a business. If they called leasing what it really is, a long term rental, people would not be as bamboozled.

Leasing makes sense for most people,

Unless you are getting a very nice car that retains value, a car is not a great investment and depreciates terribly.

Lets say you hold onto this whip for 8 years- normal wear and tear, how much % do you think you are going to get if you sell? Basically Pennies on the $ really.

and now you are locked into this car note.

Not to mention if you lease a mass market vehicle, the option to buy is still attractive because most lease buyouts are 2-3k cheaper than their relative market value, or you can bring it back and lease something else. With todays deals, if you do your homework the cost of leasing a vehicle is way less than ownership in your 1st 3 years. I would only buy if I was putting more than 15-18k a year on the car depending on the model.

 

[-G$-]

I lease both my cars

 

[FaTaL]

i never understood leasing cars, pay all that cash and you have nothing in 2 years

 

[ghostwriterx]

If you're going to lease
1. make sure you negotiate the price of the car upfront. the lower the price the lower your payments
2. don't ever put any money down, they'll try and pass it off as "capitalization costs", which is a fancy way of saying deposit. Don't put down a deposit on something you're not going to own.

 

[DrX]

i dont know , but either way just make sure u can afford it



my uncle been leasing for a decade and it works out for him....he likes to switch whips