If you lease a car, please just remove yourself from the gene pool

[MetroBrah]

Lot of the newer german/british cars have good sound systems. My jag has a 770W sound system that's really good, as well as some of my other cars have Burmeister & Bang and Olufsen.

I really don't have a need to buy older cars anymore, except I am on the lookout for an E-Type.

mirin hard. How many miles do you usually drive per year?

[EmmaW4tson]

U mad I lease a company car for a third of the retail lease?

[DatFeelGuy]

OP is correct.

Buy used cars from meticulous private owners.
Sell privately.
Maintain your car.

You'll come out hundreds of thousands ahead over someone buying new their entire life, after factoring in compounding interest.

[eXistenceLies]

Lot of the newer german/british cars have good sound systems. My jag has a 770W sound system that's really good, as well as some of my other cars have Burmeister & Bang and Olufsen.

I really don't have a need to buy older cars anymore, except I am on the lookout for an E-Type.

I think I may do this for my next vehicle. As of now I could not pass up a deal my Dad had for me. He sold me his 03 Ford F250 with 60k miles on it for $8k. It is worth around $16k in its condition. So I could flip it, but why do that when these things can last 400k+ miles? Im not strapped for cash either.

[milesgiles1]

Leasing is sensible if a car will depreciate more over the same period. Most high end luxury cars are leased.

Absolute piffle. You think the lease company hasn't thought of that?

[jackamo2887]

Why buy a depreciating asset you moron

[milesgiles1]

it's not black or white

also you have greater cash flow from leasing which you can use to make other investments.


a car is NOT an investment whether you lease or buy it.

Yes because everyone has a side hustle that makes more than the interest on a lease, lol miscers

[milesgiles1]

yep, even wipers and oil changes. don't pay for a thing

Just because you don't see it itemised, doesn't mean you don't pay. You definitely pay.

[FFailed]

I've always just bought mine and I end up not spending too much when it comes time to change cars since I have the old one to sell but always wondered about leasing. For certain cars like my WRX that have a really high resale value aren't you getting killed leasing it and spending probably $10k+ in 3 years to drive it when it could be bought and then sold in 3 years and have depreciated a lot less than that? Or can you just buy out the car for cheap at the end of the lease since you have the 10-11k into it and sell it if you wanted to get back some money. I'd imagine leasing would be good though on luxury cars that tank in value.

[milesgiles1]

Average new car price in 2016 was $33,000.00. The vast majority of consumers do not pay cash for a new vehicle. Even people who aren't "ultra poor/stupid" choose not to do that because, as another poster said, money is basically free right now.

Car loans damage your credit. Rightly so, because it is assumed you are irresponsible.

[milesgiles1]

Buy what goes up in value.
Lease what goes down in value.

No, for all the reasons mentioned. The lease benefits the dealer, NOT you.

[DatFeelGuy]

ITT: OP is correct and everyone who disagrees is getting rekt

[EnforcerOTF]

I think I may do this for my next vehicle. As of now I could not pass up a deal my Dad had for me. He sold me his 03 Ford F250 with 60k miles on it for $8k. It is worth around $16k in its condition. So I could flip it, but why do that when these things can last 400k+ miles? Im not strapped for cash either.

Yeah that's something you really cant say no to.

mirin hard. How many miles do you usually drive per year?

I have like 5 different cars, drive them all separately but I get 12k miles leases usually

[milesgiles1]

Just fuking lmao if you aren't leasing.

brb low payment
brb new car in 3 years
brb not owning depreciating asset
brb warranty
brb brb brb

Only people who make between 40k-100k and think they know everything about money think leasing is bad.

1. Define 'low'
2. Can do that anyway if you pay cash. Dont have to wait 3 years either
3. You aren't escaping depreciation
4. Can get the exact same warranty, or better, however you pay for the car

But tell me more..

[milesgiles1]

OP is correct.

Buy used cars from meticulous private owners.
Sell privately.
Maintain your car.

You'll come out hundreds of thousands ahead over someone buying new their entire life, after factoring in compounding interest.

Virtual high five, Repped

[Gayle1]

Sup GilesMiles

[midcoastking33]

join date: 2005

status: red

the lease is due on your entire life but it looks like you can't afford to pay it

[milesgiles1]

U mad I lease a company car for a third of the retail lease?

Part of your compensation for the job. I used to have a 'free' company car. Except I had the sense to realise it wasn't 'free'

[milesgiles1]

Why buy a depreciating asset you moron

For the 12th time.. THE DEPRECIATION IS BUILT INTO THE COST OF THE LEASE!

Please, understand this before calling people morons. I bet car salesmen love you.

[milesgiles1]

I've always just bought mine and I end up not spending too much when it comes time to change cars since I have the old one to sell but always wondered about leasing. For certain cars like my WRX that have a really high resale value aren't you getting killed leasing it and spending probably $10k+ in 3 years to drive it when it could be bought and then sold in 3 years and have depreciated a lot less than that? Or can you just buy out the car for cheap at the end of the lease since you have the 10-11k into it and sell it if you wanted to get back some money. I'd imagine leasing would be good though on luxury cars that tank in value.

You have the right idea, and no the type of car will not make any difference to how good a deal the lease is. It's factored in.

[BornToSmack]

Son, are you kidding me son? I only lease Mercedes S class and SUVs son. Best cars in the world until they're 3 years old or have over 50k miles on them. That's when they start to turn to CHIT. There's a reason why they depreciate so quickly. They are designed to fail son. No way am I owning a worthless turd. You lease luxury, and get rid of it before it becomes a turd.

I'll smack you in the mouth boy.

[Joseph1990]

At the end you turn the vehicle in and pay a disposition fee as well as any mileage you went over the contracted amount and wear and tear.

What the phuck? Explain this. "wear and tear" Are you chitting me? How is this not part of millage? what is the warranty even for?.

[milesgiles1]

join date: 2005

status: red

the lease is due on your entire life but it looks like you can't afford to pay it

Know how I know mods lease cars?

[Nelly87]

You're right. A car is NOT an investment (only very rarely they are. 2006 Ford GT for instance). So what is wrong with leasing a car? Comes with a full bumper to bumper warranty. Free service. Newest model every 2-3 years. I don't see the problem if you have the money for it?

^This. Some people look at it as an expense/necessity point a -> b.

Sure you can go extreme and buy the cheapest POS car and drive till' the wheels fall off, then rinse/repeat. However, having it under warranty, any problems - it's 100% taken care of and you get in a rental fast. No need to run around frantically tryin to figure out how you're going to get to work. So you drop $6k on a car that maybe will last 2-3 years if you're lucky. Throw in all the maintenance and repairs/replacement pieces/inconveniences, annoying.

If you pay $300/month (this will get you a much nicer car than $5k) - after two years you'd pay $7,200, maintenance and repairs included and bam you get a newer car.

[milesgiles1]

^This. Some people look at it as an expense/necessity point a -> b.

Sure you can go extreme and buy the cheapest POS car and drive till' the wheels fall off, then rinse/repeat. However, having it under warranty, any problems - it's 100% taken care of and you get in a rental fast. No need to run around frantically tryin to figure out how you're going to get to work. So you drop $6k on a car that maybe will last 2-3 years if you're lucky. Throw in all the maintenance and repairs/replacement pieces/inconveniences, annoying.

If you pay $300/month (this will get you a much nicer car than $5k) - after two years you'd pay $7,200, maintenance and repairs included and bam you get a newer car.

Maths, wrong, logic wrong, common sense wrong..

Just wrong all over the place.

[Trapstar4.4]

you say that vehicles are a depreciating asset.
thats exactly why owning a car is not imperative.

i like the idea of just writing that $300-400 cost into the budget and always having a newer car. that cost is nothing. im not making money off of a car anyway. in fact, i use it to make money

[FFailed]

You have the right idea, and no the type of car will not make any difference to how good a deal the lease is. It's factored in.

Is it though? I just picked 2 cars that I know are opposite in terms of resale value but close in initial cost and it doesnt seem that way because the one with the better resale value is the same or more to lease. For example an Audi A4 which just tanks in value because no one wants to own one after 3 years loses 15k+ in value over 3 years and from a quick search is around $400/mo to lease. Now take an STI which has a similar MSRP and costs 400+ to lease. In 3 years that STI probably wont even lose 10k in resale value but it costs more to lease. It would seem like buying an STI is a pretty good choice but the A4 you are getting fuked because it becomes worthless so fast.

[EmmaW4tson]

Part of your compensation for the job. I used to have a 'free' company car. Except I had the sense to realise it wasn't 'free'

ofc its not free you bell end. I stated I lease it for a third of the retail lease it goes for.

Company leases 30+ of the same model = cheaper for individual unit. No extras for new tyres (brand new), any mechanical problems etc. Obv I am liable for insurance up to a certain amount and I pay the tax.

Seems good to me for a brand new car for 3 years.

[Aesthetical]

Leasing only makes sense if you own a business or are clearing $75k+ as a single tax filer.

And then it only makes sense because you should have plenty of disposable income to burn on leasing luxury vehicles.
But you need to keep up with Carl next door in your luxury apartment so leasing luxury is the only way to go.
Dont forget since it has apple car play, you need to be up to date on the latest model phone, which you also lease.
But then since you are using your data, you need a max data plan on verizon so that your coverage is spotless.

lol @ leasecels

[Trapstar4.4]

Leasing only makes sense if you own a business or are clearing $75k+ as a single tax filer.

And then it only makes sense because you should have plenty of disposable income to burn on leasing luxury vehicles.
But you need to keep up with Carl next door in your luxury apartment so leasing luxury is the only way to go.
Dont forget since it has apple car play, you need to be up to date on the latest model phone, which you also lease.
But then since you are using your data, you need a max data plan on verizon so that your coverage is spotless.

lol @ leasecels

u mad that i drive a benz s550?
u mad that i move my car when you pull in next to me?
failure is contagious brah.