Leasing a car is stupid....


#41

Don’t get me started on that. :wink:

Did you see last month where the woman who produced his bc died, not during a Plane crash but after the emergency landing she was the only one to drown as everyone else survived? Nothing fishy there. Lol I guess she can never be questioned now, huh?


#42

Maybe the Republican party captured her and they’re torturing her till she spills the beans? Life became less stressful once I admitted to myself it’s ALL a big conspiracy and nothing could be done. Sorry about the hijack here leasers and car owners. :wink:


#43

I am almost to the point where I feel nothing can be done. And yeah sorry about the hijacking.

Leasing is great for people who are materialistic and want to keep up with the joneses but do not have the money to be. Merica!

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I am going to go out on a limb and say, “if leased cars had bright red license plates the number of leases would drop dramatically”.

Anyone agree?


#44

Give me a red plate I’ll rock it all day long. Make the last 3 digits my payment while you are at it.

Cheap leases are the shit don’t believe anyone who tells you otherwise.


#45

I bet a lot of the people here suggesting buying used vs leasing new might have a different opinion if they were paying dealer rates for every repair like the majority of car buyers do.

If you’re a little handy and do most repairs yourself buying used vs leasing new is a clear money saver. When you’re paying a dealer $500+ for brakes, $600+ for an alternator or $1000+ for “fix some worn parts making the front end loose” (something a coworker just did) that fixed cost of a lease for vehicle with a bumper to bumper warranty looks better.

I was just going over the Murano before a road trip and noticed a few things wrong. Slight leak from the axle seal on the drivers side, small leak from the power steering high pressure hose and a little bit of play in the passengers side tierod. If I took it to the dealer for these I’d easily be spending over $1000. Total cost of my parts order this morning from Rockauto? $55. Sunday I’ll heat the garage up and fix all that up in a few hours.


#46

The average car buyer gets a new car every 39 months (or very close to that)

For people who normally buy used and lease a car for the lower payment I agree it’s not the best but for people who enjoy getting a new car every couple years leasing is the way to go


#47

I think you’re way off on that number.


#48

I don’t keep cars nearly long enough to lease one for 3 years.


#49

And when you roll in the sales tax into the lease cap cost, you can actually deduct sales tax when you’re deducting your lease payments.

And that is Jew Lawyering at its best.


#50

Buying vs. Leasing is completely situational. There are some instances leasing makes more sense, and sometimes buying will be the better option. I tend to personally be a believer in buying my cars, I can certainly make the argument as to why leasing a higher end luxury vehicle makes more sense especially when you do not want to deal with it outside of the warranty period.

Fortunately in todays world we have all these great online buy vs lease calculators that you can use to figure out whats best for your situation. But there is not black and white wrong or right answer without knowing the specific details of the scenario.


#51

I think the above is a small amount of people. Most people want a cheap monthly payment regardless of how. “Hey I can get a new Chevy Cruze for $160 a month”…pfft done deal.


#52

One of the guys at work just leased an Elantra GLS, zero down, 36 months 12k miles/year for $130/month. Looking around online I see that deal offered with 2k down but he says he didn’t put anything down. I wouldn’t doubt he got that deal because he’s a decent negotiator and has A credit. At the same time he’s a pretty good bullshitter so he might just be lying about putting nothing down.

But anyway, if it’s true for the next 3 years he’s in a new car, bumper to bumper coverage and will pay $1560/yr for it.

That’s a pretty damn good deal for someone who wants basic reliable transportation with a warranty.


#53

See I would do that in a heartbeat if I was in the market for a cheap car. And if I was looking for a luxury car I’d most likely lease. But for the majority that seem to want a car in the middle of those 2 extremes leasing seems to make little sense. It’s very situational and this convo went from ugly to very productive. Good info in here IMO.


#54

that is most likely due to the recession, i can almost guarantee that # will go back down in the next year or two

if you drive high mileage- dont lease a car
if you keep cars forever and dont mind being out of warranty-dont lease a car

if you want something new every couple years, dont drive over 20,000 miles a year, and dont want to worry about depreciation then lease a car


#55

there is a lot to read here but i’ll offer up that i am going to seriously look at leasing when i get an F30 M3…

i bought my E90 M3 outright and after being hit a couple times, even though it was repaired properly, i am going to get fucked on resale or trade in value… i believe there is huge value in me leasing the F30 modding it lightly and then returning it stock after 3 years or so and moving on to something else.

yeah it’s nice not having a car payment but unless i really keep the car for a long time it’s going to be a big lose lose proposition for me.


#56

Yeah that’s crazy. On my first car I had all the brakes, rotors and all replaced for zero dollars…2 years later I was in a brand new Subaru, which was great because my first car was to small. It would suck to be stuck with that car because I was young and didn’t have the $ for a new purchase

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#57

IIRC I saw a Basil ad a few months ago that had a car for $85/month. That is insane, I almost wanted to lease it just because it was so cheap. Lol
It seemed impossible.

Did anyone else see that? Basil?


#58

Leasing makes sense if you catch a good sale/lease incentive, and you know you will drive about the allowed amount of miles. If you drive under, then you are ripping your self off, and if you drive way over, you get hosed by the leasing company. I am a big fan of my mom leasing as she hates maintaining and repairing cars. Her Prius has free maintenance for 2 years of her 3 year lease, and I know she in always in a really reliable, safe, and efficient car.

I also think down payments in leases are stupid, unless you are trading in some heap worth a few grand. Why give up a chunk of your savings to rent a car for a few years?

Last month I saw a deal for a new Maxima with nothing down for something like $279 a month. If I didn’t drive 20K a year, I’d be all over that.


#59

He’s full of shit, I sold Hyundai’s for 6+ years, that deal is $0 down towards the vehicle, he would still be responsible for taxes/dmv fees and lease fees upfront. I am confident there is NO vehicle in WNY you can lease for $130/mo or less with $0 due at signing.

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If you want low payments and enjoy new vehicles every 2-3 years, or trying to bury negative equity quickly leasing is the way to go. If you drive less than 7-8k per year or keep vehicles after you pay them off, then your better off buying. It all depends on each situation.

Pros To Leasing.
-Lower Payments
-Get the hottest new model every couple years
-Always under warranty (for the traditional 2-3yr lease)

  • Leasee is not responsible for History (carfax) or market value at the end of the term of said vehicle
    -Typically lower rate to lease then to buy
    -If you drive a lot say 20k+ miles/year your not responsible for the crazy depreciation you would see on a buy
    -pay less sales tax
    -After the lease is up you have options to walk away, buy it and keep it, or buy it and sell it. If your life changes 2-3 years into your 5/6/7 year car loan and you NEED a different type of vehicle you can’t always get out if it w/o a boat load of negative equity.

#60

I agree on the down payment. … If you put 5000 down and pull out of the lot and wreck the car you’re most Likely going to be out of that 5000

Leasing a fuel efficient car that’s driven less than 20,000 miles a year is a waste as you could most likely lease a corolla/civic etc for much cheaper than your saving on gas from the hybrid

Ex 12000 miles/50 mpg = 240 gallons a year @ 3.75 a gallon Is $900 a year on fuel and a prius is at least $300 a month total yearly cost is 300x12+900=4500

12000 miles/30mpg corolla = 400 gallons a year @3.75 a gallon is $1500. Lease is around 200 a month so total yearly Cost is 200x12+1500=$3900

The prius Is a great car for people who drive more than 15000 miles a year minimum