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

[milesgiles1]

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.

Miscalculation by the dealer, manufacturer discount you don't know about, excess/shortage of stock etc etc. Not to say you shouldn't take advantage of it.

[milesgiles1]

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

I guarantee you Warren Buffet has never leased a car. I'd further bet he doesn't hire anyone who does either.

[Acal83]

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

This is incorrect. Any kind of inquiry on your credit will lower it temporarily. Paying your loan on time builds your credit score. Loans have been around since there was currency and do not imply someone is irresponsible.

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.

The depreciation is built into it... but only for the time period that you are driving it. If you buy it you get all of that. I have never leased a car and probably never will but there are very good reasons for doing so.

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?.

Wear and tear would be damage to the exterior of the car. Most warranties don't cover stuff like scratches, tires, etc. Those are more for mechanical components. Most people don't get charged for this.

[milesgiles1]

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.

Company cars aren't a typical example and I didn't mention them in the op since it's not 'your' lease. Why do companies use leasing firms? Because they haven't got the cash up front. It's more expensive, and comes out of your wages ultimately. But if you are cool with that..

[milesgiles1]

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.

Are we mad while we stack paper watching your insecurities eat you alive?

Nah, not really cuzz

[milesgiles1]

This is incorrect. Any kind of inquiry on your credit will lower it temporarily. Paying your loan on time builds your credit score. Loans have been around since there was currency and do not imply someone is irresponsible.

The depreciation is built into it... but only for the time period that you are driving it. If you buy it you get all of that. I have never leased a car and probably never will but there are very good reasons for doing so.

Wear and tear would be damage to the exterior of the car. Most warranties don't cover stuff like scratches, tires, etc. Those are more for mechanical components. Most people don't get charged for this.

1. It's arguable, but you definitely have to make all the payments on time for a start.. and no excess mileage/out of warranty parts. Mortgage companies love you the fewer regular outgoings you have, including car loans.

2. Rubbish. You have the depreciation for as long as you have the car ONLY.

3. Any warranty that comes with the lease will be the most cheap and cheerful you can get. They already know you are a dumb ass when you signed up for the lease, so they know you won't read any of the small print on the warranty either.

[Aesthetical]

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.

Enjoy your age 78 retirement goals

[nm1891]

ITT, a red who doesn’t know the difference between financing and leasing tries to give everyone financial advice. Only on the misc.

[Joseph1990]

This is incorrect. Any kind of inquiry on your credit will lower it temporarily. Paying your loan on time builds your credit score. Loans have been around since there was currency and do not imply someone is irresponsible.

The depreciation is built into it... but only for the time period that you are driving it. If you buy it you get all of that. I have never leased a car and probably never will but there are very good reasons for doing so.

Wear and tear would be damage to the exterior of the car. Most warranties don't cover stuff like scratches, tires, etc. Those are more for mechanical components. Most people don't get charged for this.

I can understand damaging the body since it's got nothing to do with kms. Tires tho... what? If you mean you roll up with a hole in one of the tires, or no tread when there should be because burnouts sure, but regular wear from kms dafuq bro?

[lildave]

Nope.. but it's the poorest people that lease. That's why they are poor.

All of my buddies that have wealthy families are leasing all the time. Same with their parents. My buddies dad is always borrowing money for any projects he works on too since his interest rate is lower then what he makes by investing the same money.

[askem]

See you crawled out of the red my man

check again lmao

[lildave]

Very rarely there are some that are, but they are already pricey to start. Like I mentioned before the 2006 Ford GT that has gone up in value. Brand new they were in the mid $100's. Now used they are going for $200k+.

https://www.hemmings.com/classifieds...3/2043109.html

https://www.roadandtrack.com/car-cul...e-911-gt2-tho/

Old Porsches are/were great investments too. Not sure how much a 993 911 GT2 would have sold for when new but they have been going for well over a million now.

[eXistenceLies]

https://www.hemmings.com/classifieds...3/2043109.html

https://www.roadandtrack.com/car-cul...e-911-gt2-tho/

Old Porsches are/were great investments too. Not sure how much a 993 911 GT2 would have sold for when new but they have been going for well over a million now.

Damn that first Porsche is hideous, but that GT2 "drool".

[ANumber1]

Leasing is like banging a 20-year-old undergrad.

You're paying half the price to get the best years out of it when it's happy just to get breakfast at a diner, and then you're done with it and move on clean while some other 'tard pays full price to keep it while it needs a ton of repairs.

[milesgiles1]

ITT, a red who doesn’t know the difference between financing and leasing tries to give everyone financial advice. Only on the misc.

Where did I say you should finance?

It's a sad state of affairs when CASH seems to mean 'loan' to miscers

[milesgiles1]

All of my buddies that have wealthy families are leasing all the time. Same with their parents. My buddies dad is always borrowing money for any projects he works on too since his interest rate is lower then what he makes by investing the same money.

1. Not money they worked for so they couldn't care less it's all 'free'
2. Buddies dad.. sure, that's what he tells you. Likely reality, hasn't a pot to p!ss in

[milesgiles1]

https://www.hemmings.com/classifieds...3/2043109.html

https://www.roadandtrack.com/car-cul...e-911-gt2-tho/

Old Porsches are/were great investments too. Not sure how much a 993 911 GT2 would have sold for when new but they have been going for well over a million now.

Check what happened in 1989 though.. classic car market crashed. Anyone with half an ounce of brains can see that classic car inflation (even for cars that aren't remotely classic) is nuts. Will crash again at some point(which is when I MAY invest..cash only of course)

[lildave]

Damn that first Porsche is hideous, but that GT2 "drool".

If I owned a GT2 I would refuse to drive the thing. It would scare the **** out of me. lol

[lildave]

1. Not money they worked for so they couldn't care less it's all 'free'
2. Buddies dad.. sure, that's what he tells you. Likely reality, hasn't a pot to p!ss in

1) Their families gave my buddies opportunity but they had to work to get to where they are now.
2) That family is worth well into the 9 figures. This is basing off of me knowing the projects they worked on and how much money they would typically make off those projects.

[MetroBrah]

loving the debate ITT srs

[Jms89]

Depends on your goals...if you are trying to convince everyone you are a baller by driving around in a car you can't afford, by all means lease.

If you want to build wealth, but a reliable used car, pay for the repairs as they come, and sock away the hundreds of dollars a month you are saving into an ETF or Mutual Fund that is compounding year after year. Let's see who comes out ahead in 20 years boys.

Plenty of good used car options out there unless you are buying german stuff....then maybe leasing isn't such a bad idea.

BTW, to anyone curious about this debate you would be doing yourself a favor by reading the millionare next door. You will find most millionares studied own cars which are modest, and paid for in cash.

[BeanTank]

Depends on your goals...if you are trying to convince everyone you are a baller by driving around in a car you can't afford, by all means lease.

If you want to build wealth, but a reliable used car, pay for the repairs as they come, and sock away the hundreds of dollars a month you are saving into an ETF or Mutual Fund that is compounding year after year. Let's see who comes out ahead in 20 years boys.

Plenty of good used car options out there unless you are buying german stuff....then maybe leasing isn't such a bad idea.

BTW, to anyone curious about this debate you would be doing yourself a favor by reading the millionare next door. You will find most millionares studied own cars which are modest, and paid for in cash.

this.

Book is a gamechanger.

[Nelly87]

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

Just wrong all over the place.

I tried man. Where maths wrong?

300x12 = 3,600
3,600 x 2 = 7,200

I guess instead of showing errors and helping point taking a broad swing and just saying wrong is your style. thanks for the response.

*Edit - my first 3 cars I paid all $4-7k cash, each. Each one lasted approx 2-3 years, had to replace alternators, spark plugs, timing belt, power steering rack n pinion, alignments fukked - burned through tires and had to get alignments, fuel pump, fuel filters, pads n rotors, one transmission was fukked had to put tranny oil in weekly (till I junked and bought another junker cash). This was also with normal maintenance. But what do you expect with a 10 yr old car with ~175k-200k miles on it?

Over those 6 years I dropped a total of $15k cash (just for the cars) and thousands upon thousands more in repairs and time.

I've never leased a vehicle but definitely can see the attraction towards it. Now I'll put a ton down or have such great credit I get awesome financing (0% APR 36 month) and only get certified pre-owned with extended warranty to protect my chit.

[FastBack6]

You're paying that amount of money a month for the privilege to drive a nice car that you don't carry any responsibility for, just lol at buying a car
BRB maintenance
BRB stress
BRB depreciating asset

Yep. Just LOL at people driving a rusted out ****box Toyota because “I own it” and “ain’t got no payments”

Yea that’s true. You own a ****box. Who cares.

People who are against leasing are just coping that they don’t make enough money at their McJob to guarantee that they’ll always be able to make the payments on time.

[DavidL913]

buy a used car

[milesgiles1]

I tried man. Where maths wrong?

300x12 = 3,600
3,600 x 2 = 7,200

I guess instead of showing errors and helping point taking a broad swing and just saying wrong is your style. thanks for the response.

*Edit - my first 3 cars I paid all $4-7k cash, each. Each one lasted approx 2-3 years, had to replace alternators, spark plugs, timing belt, power steering rack n pinion, alignments fukked - burned through tires and had to get alignments, fuel pump, fuel filters, pads n rotors, one transmission was fukked had to put tranny oil in weekly (till I junked and bought another junker cash). This was also with normal maintenance. But what do you expect with a 10 yr old car with ~175k-200k miles on it?

Over those 6 years I dropped a total of $15k cash (just for the cars) and thousands upon thousands more in repairs and time.

I've never leased a vehicle but definitely can see the attraction towards it. Now I'll put a ton down or have such great credit I get awesome financing (0% APR 36 month) and only get certified pre-owned with extended warranty to protect my chit.

I've had the opposite experience. My car is 16 years old it's had a couple of exhausts and radiators, a fuel pump and not much else. Obviously the average will be somewhere between my extreme and yours.

Leasing doesn't magically protect you from repair costs. The warranty will be no better and quite possibly worse than any other warranty you can get.

0%? Whoopdy doo. You will still get a better price if you pay all cash, upfront.

[milesgiles1]

Yep. Just LOL at people driving a rusted out ****box Toyota because “I own it” and “ain’t got no payments”

Yea that’s true. You own a ****box. Who cares.

People who are against leasing are just coping that they don’t make enough money at their McJob to guarantee that they’ll always be able to make the payments on time.

It's the complete opposite. The Mcjobbers form a line round the block for leasing.

You probably need to get past the idea of people caring what you drive because even in the most average of first world places, unless it's worth well over 6 figures, and/or is extremely rare and sought after, I can assure you anyone with an opinion worth anything couldn't care less.

[GymRat128]

I lease 4 cars OP, you mad? 2 regular cars and 2 luxury cars....ever heard of a tax write off?

[milesgiles1]

I lease 4 cars OP, you mad? 2 regular cars and 2 luxury cars....ever heard of a tax write off?

Your avi just screams 'success'..

And you can deduct depreciation from a car if you paid cash you know. It's no different..

[Norrov]

For rich people that buy new cars every 1-2 years it’s a better deal and they obviously have the income.

I wouldn’t ever buy a new car let alone lease a car. My ****box 20 year old Lexus gets me anywhere I need to go and I have a 08 diesel pickup if I need to tow trailers, ski trips or move stuff.

Rather use my money for traveling and living somewhere awesome.