# Leasing a car is stupid.... **URL:** \ **Category:** NYSpeed Automotive\ **Created:** [January 20, 2014, 9:59am UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589 "2014-01-20T09:59:26Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![Xander](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/xander/32/7597_2.png) [@Xander](https://forums.speedlife.net/u/Xander)\ **Post date:** [January 20, 2014, 12:11pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/21 "2014-01-20T12:11:24Z")
The first three years of a car’s life are generally the most “hassle free” years. Leasing can be a real good option. X… ---
**Author:** ![Wahoo](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/wahoo/32/8265_2.png) [@Wahoo](https://forums.speedlife.net/u/Wahoo)\ **Post date:** [January 20, 2014, 12:12pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/22 "2014-01-20T12:12:35Z")
The thread title should read Leasing and buying a new car is stupid. Buying used you pay the already semi depreciated value of the vehicle, which is also less in taxes too! 🍿 ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [January 20, 2014, 12:13pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/23 "2014-01-20T12:13:56Z")
> [@Wahoo](#): > > The thread title should read Leasing and buying a new car is stupid. > > Buying used you pay the already semi depreciated value of the vehicle, which is also less in taxes too! > > 🍿 Its 100% dependent on the individual situation. There isn’t a _right_ answer Example of a case where leasing didn’t work out - [http://www.nyspeed.com/showthread.php?243795-Lease-Questions](http://www.nyspeed.com/showthread.php?243795-Lease-Questions) ---
**Author:** ![LUKE\_L](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/luke_l/32/7462_2.png) [@LUKE\_L](https://forums.speedlife.net/u/LUKE_L)\ **Post date:** [January 20, 2014, 12:23pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/24 "2014-01-20T12:23:58Z")
> [@Beck](#): > > If leasing is so bad, how come almost every professional in the industry does it? I’d say 9/10 people who work/manage in a car dealer, lease. > > Would you pay $1600/mo for a $200,000 house if I told you, your house would be worth $100,000 in 5 years? > or > Would you rent the same house for $800/mo and you could walk away clean in 3 years? > > This guy is also talking about buying a $50,000 BMW. Most people aren’t leasing or buying a $50,000 BMW. 90% of leases are \< $300/month on cars that average out to be $25,000. So in reality, most leases will cost you $3,000 a year. Which is a hell of a lot less than you will lose in depreciation. I’m really glad you stepped in here. I was curious to see what a professional in the industry would have to say. > [@LZ](#): > > Its 100% dependent on the individual situation. > > There isn’t a _right_ answer Absolutely. * * * I’ll state I am not blindly against leases. I typically don’t see the value in **BUYING** a new vehicle. Also, I have never leased…but, only due to the situations I’ve dealt with. I was able to buy exactly what I needed used…so I did. Great banter though…keep it coming! ---
**Author:** ![ProgRocker](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/progrocker/32/5434_2.png) [@ProgRocker](https://forums.speedlife.net/u/ProgRocker)\ **Post date:** [January 20, 2014, 12:25pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/25 "2014-01-20T12:25:48Z")
> [@LZ](#): > > Right but at least banks make solid attempts to stop this from happening when it comes to homes. > > How many people on here drive cars they can’t afford? or rock some $700+ a month car payment while living in their parents basement? True, it was just an example though. Basically if you can’t afford it to start with, don’t buy OR Lease it. I know some people that do this exact thing. Making 100k a year (not directed to anyone on the board) doesn’t mean shit if you just blow it all. Also to piggy back on what beck said, I’ve turned in two cars now from leases, both with some accidental damage. They never asked for even a dime out of me. That “Oh I heard if you fart in the car they charge you a million bucks” mentality isn’t accurate, at least not with reputable dealers. ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [January 20, 2014, 12:31pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/26 "2014-01-20T12:31:29Z")
> [@theblue](#): > > **what are you doing on nyspeed on your day off** … at least I’m getting paid to waste my time 🙂 Shopping for a car to lease. ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [January 20, 2014, 12:32pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/27 "2014-01-20T12:32:24Z")
I’m curious if long term ownership costs have decreased on newer vehicles since reliability seems to be up. ---
**Author:** ![Beck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/beck/32/28683_2.png) [@Beck](https://forums.speedlife.net/u/Beck)\ **Post date:** [January 20, 2014, 12:33pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/28 "2014-01-20T12:33:21Z")
> [@ProgRocker](#): > > True, it was just an example though. Basically if you can’t afford it to start with, don’t buy OR Lease it. I know some people that do this exact thing. Making 100k a year (not directed to anyone on the board) doesn’t mean shit if you just blow it all. > > Also to piggy back on what beck said, I’ve turned in two cars now from leases, both with some accidental damage. They never asked for even a dime out of me. That “Oh I heard if you fart in the car they charge you a million bucks” mentality isn’t accurate, at least not with reputable **dealers.** Manufacturers, not dealers. Dealers have _nothing_ to do with fees incurred at the time of lease turn in. ---
**Author:** ![LUKE\_L](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/luke_l/32/7462_2.png) [@LUKE\_L](https://forums.speedlife.net/u/LUKE_L)\ **Post date:** [January 20, 2014, 12:57pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/29 "2014-01-20T12:57:47Z")
```auto ``` What determines buy versus lease? Monthly Payment? Warranty? Down Payment? Credit? Sexual Orientation? No really, it is the security of knowing you OWN something versus something you don’t care about because you don’t own it? ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [January 20, 2014, 1:02pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/30 "2014-01-20T13:02:01Z")
> [@LUKE\_L](#): > > ```html > > ``` > > What determines buy versus lease? Monthly Payment? Warranty? Down Payment? Credit? Sexual Orientation? > > No really, it is the security of knowing you OWN something versus something you don’t care about because you don’t own it? You don’t _own_ a car if you buy it new with multi year loan anyways. Oh and this - [More new-car buyers opt for 7-year loans](http://www.usatoday.com/story/money/cars/2013/10/28/long-term-car-loans/3191819/) ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 20, 2014, 1:32pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/31 "2014-01-20T13:32:02Z")
with loan rates at like 1.99% for used cars (penfed), I’ll take the longest term they will give me. Not because I can’t afford it, but because I have better uses for my money than as equity in a car. ---
**Author:** ![LUKE\_L](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/luke_l/32/7462_2.png) [@LUKE\_L](https://forums.speedlife.net/u/LUKE_L)\ **Post date:** [January 20, 2014, 1:32pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/32 "2014-01-20T13:32:03Z")
Another valid point. Why not stretch it out if it adds up to be a good decision? > [@LZ](#): > > You don’t _own_ a car if you buy it new with multi year loan anyways. > > Oh and this - [More new-car buyers opt for 7-year loans](http://www.usatoday.com/story/money/cars/2013/10/28/long-term-car-loans/3191819/) True. I’ve only had 2 vehicles out of 6 in my possession that I have never truly owned: ie did not pay cash for free and clear. That article was a good read. I can’t imagine a $600+ payment for a vehicle. I’ve never been over $400…but that was my preferred payment with regards to affordability in addition to my down payment. ---
**Author:** ![ultradriver10000](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ultradriver10000/32/7397_2.png) [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)\ **Post date:** [January 20, 2014, 2:42pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/33 "2014-01-20T14:42:56Z")
I’d lease a viper, corvette or mustang, and use all the miles on a track… I wouldn’t even register it. ---
**Author:** ![honda4life](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/honda4life/32/5300_2.png) [@honda4life](https://forums.speedlife.net/u/honda4life)\ **Post date:** [January 20, 2014, 3:03pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/34 "2014-01-20T15:03:52Z")
Personally with my experience with leasing, I will not do it again, I’d rather pay a down payment and buy a new or used car. $xx,xxx to lease a car for 2-3years, that could of been money towards a new or used car. ---
**Author:** ![slo\_ride](https://avatars.discourse-cdn.com/v4/letter/s/49beb7/32.png) [@slo\_ride](https://forums.speedlife.net/u/slo_ride)\ **Post date:** [January 20, 2014, 4:09pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/35 "2014-01-20T16:09:19Z")
> [@LZ](#): > > I’m curious if long term ownership costs have decreased on newer vehicles since reliability seems to be up. Bought a new cruze and a grand cherokee in 2012 for cash. Both are around 60k miles and have only incurred the costs of scheduled maintenance and a set of tires each… So far so good. ---
**Author:** ![1QIKZ](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/1qikz/32/6112_2.png) [@1QIKZ](https://forums.speedlife.net/u/1QIKZ)\ **Post date:** [January 20, 2014, 4:30pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/36 "2014-01-20T16:30:28Z")
I fart in my truck all the time but I own it so… ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [January 20, 2014, 4:31pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/37 "2014-01-20T16:31:09Z")
I love throwing curveballs so… Lease vs own… You don’t own your car when you register it anyway, you are turning it over to the state that is why they give you a title. :tinfoilhat: ---
**Author:** ![slo\_ride](https://avatars.discourse-cdn.com/v4/letter/s/49beb7/32.png) [@slo\_ride](https://forums.speedlife.net/u/slo_ride)\ **Post date:** [January 20, 2014, 4:45pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/38 "2014-01-20T16:45:50Z")
> [@Blue Eyed Devil](#): > > I love throwing curveballs so… > > Lease vs own… > You don’t own your car when you register it anyway, you are turning it over to the state that is why they give you a title. > > :tinfoilhat: Tell me your thoughts on birth certificates… ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [January 20, 2014, 5:54pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/39 "2014-01-20T17:54:30Z")
> [@slo ride](#): > > Tell me your thoughts on birth certificates… Obama’s birth cert especially. ---
**Author:** ![Deathproof](https://avatars.discourse-cdn.com/v4/letter/d/dec6dc/32.png) [@Deathproof](https://forums.speedlife.net/u/Deathproof)\ **Post date:** [January 20, 2014, 5:59pm UTC](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589/40 "2014-01-20T17:59:29Z")
Why pay money for something you can take from someone else at gunpoint? Paying for a car, what a waste of money… [Previous page](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589.md?page=1) [Next page](https://forums.speedlife.net/t/leasing-a-car-is-stupid/234589.md?page=3)