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

[guest89]

Only if they are fraudulently claiming it for business. Even then they would get the same deduction by paying cash and claiming the wear and tear. Show me a worked example of the benefit of leasing. I reject your reality

I'm guessing you know very little about business, personal finance, accounting and tax law. Depending on someone's line of employment a vehicle may or may not be tax deductible. Some people actually come out ahead in the long run by spending money on business expenses. So leasing a high end vehicle is a smart decision. Yes. maintenance and up keep on a paid off vehicle would be tax deductible. But why drive a chit vehicle with problems when you don't have to.





In 2018 I have to spend a minimum of 12K on deductible expenses. Unfortunately for me a vehicle isn't deductible so it becomes a bit more difficult. But you can bet if a vehicle were a deductible expense in my line of work I'd be driving something that costs around 600-800 per month.

[kneecapsbrah]

ITT miscers shouting "FREE FREE!" when it comes to leasing.

But mention universal free healthcare they come back: " It's not 'free'"

[milesgiles1]

ITT miscers shouting "FREE FREE!" when it comes to leasing.

But mention universal free healthcare they come back: " It's not 'free'"

This

[milesgiles1]

I'm guessing you know very little about business, personal finance, accounting and tax law. Depending on someone's line of employment a vehicle may or may not be tax deductible. Some people actually come out ahead in the long run by spending money on business expenses. So leasing a high end vehicle is a smart decision. Yes. maintenance and up keep on a paid off vehicle would be tax deductible. But why drive a chit vehicle with problems when you don't have to.





In 2018 I have to spend a minimum of 12K on deductible expenses. Unfortunately for me a vehicle isn't deductible so it becomes a bit more difficult. But you can bet if a vehicle were a deductible expense in my line of work I'd be driving something that costs around 600-800 per month.

Think I've answered this about 5 times ITT

[milesgiles1]

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.

Worth nine figures ($100 mill +)
Leases cars so he can keep the 50 or 100k free for investments..

In the history of how legit things sound, this is surely the most legit sounding thing ever lol

Get real. He doesn't have the liquid unless he leases a car or two for a whopping 0.1% of his net worth?

One advantage of being very old, I can see straight through miscers bs at a hundred paces. Although I'd have believed you if I was 12.

[Cytomegalovirus]

If you really could care less about what you drive, buy a Toyota and keep it for 20 years but the reality is, if I have enough money and I am an avid car enthusiast, leasing is a great option to keep up with the latest cars.

[milesgiles1]

If you really could care less about what you drive, buy a Toyota and keep it for 20 years but the reality is, if I have enough money and I am an avid car enthusiast, leasing is a great option to keep up with the latest cars.

Why is leasing better than buying and selling though?

(Clue, it isn't..)

[RainingBlood]

The only reason I wouldn't lease is because I want to actually own my ****. If I lose my job, run out of savings, have an emergency, I don't have to worry about losing my car.

[Chesterier]

agreed. car is the biggest money pit people throw money into. it's dumb.


buy a lexus. drive it into the ground. when people ask i still drive a lexus.

[milesgiles1]

The only reason I wouldn't lease is because I want to actually own my ****. If I lose my job, run out of savings, have an emergency, I don't have to worry about losing my car.

High 5

(Reads sig)

Low 5 then..

[GymRat128]

Your avi just screams 'success'..

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

OP you mad I have a body shop and mechanic shop and I can fix my cars for virtually labor free just the price of parts and I still lease 4 cars? Red is Red.

[juvefan]

Lmao at being a poor peasant and not driving a new car every 2 years

[FastBack6]

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.

I enjoy having nice things. I couldn’t care less what anybody else thinks about it.

[guest89]

Why is leasing better than buying and selling though?

(Clue, it isn't..)

If a person wants to get a new vehicle every 24 months what advantage is there to buying and trading in VS just leasing?




We aren't talking about the financial choice of driving some old azz vehicle for 15 years. We're talking about someone that is an auto enthusist and wants to drive the newest model/something different every 2 years. From what I've seen a decent lease deal will save you about 4,500- 5,000 over the course of two years.

[Aesthetical]

If a person wants to get a new vehicle every 24 months what advantage is there to buying and trading in VS just leasing?




We aren't talking about the financial choice of driving some old azz vehicle for 15 years. We're talking about someone that is an auto enthusist and wants to drive the newest model/something different every 2 years. From what I've seen a decent lease deal will save you about 4,500- 5,000 over the course of two years.

Thats different, but you need to understand that the auto enthusiast who wants to drive a new car every 2 cars is vastly outnumbered by people, who based on their incomes, should be buying a quality used car rather than buying new or leasing. Its personal finance 101. But not surprising because most adults cant even complete their own budget. Financial illiterate people think its normal to spend over 30% of their net income on a vehicle LMFAO

[rectifryer]

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

Very nice way of putting it. However, I am too shredneck to be 100% responsible so:

-Max out monthly investments

-Lease wife's car

-Buy race car

Having been through a cycle of buying and paying off a car just to see it depreciate to basically nothing, I definitely see the value in leasing. It's FAR less money if you like having new cars. Keeping 10% of value in the end versus avoiding paying 50% is an easy decision.

[milesgiles1]

OP you mad I have a body shop and mechanic shop and I can fix my cars for virtually labor free just the price of parts and I still lease 4 cars? Red is Red.

Blue collar tradie is financially illiterate?

I mean really, so what?

[milesgiles1]

I enjoy having nice things. I couldn’t care less what anybody else thinks about it.

Funny because you were the one that raised the issue of no one caring if you drive a 98 Toyota..

I mean, damn square.. but they also don't care if you drive an m3 or an S class either. It's the equivalent of a 2 bed town house. Nice enough to live in but not as if anyone's jaw will be on the floor.

[milesgiles1]

If a person wants to get a new vehicle every 24 months what advantage is there to buying and trading in VS just leasing?




We aren't talking about the financial choice of driving some old azz vehicle for 15 years. We're talking about someone that is an auto enthusist and wants to drive the newest model/something different every 2 years. From what I've seen a decent lease deal will save you about 4,500- 5,000 over the course of two years.

You are completely misunderstanding the terms of the lease if you think that's right. Link me, srs.

[milesgiles1]

Very nice way of putting it. However, I am too shredneck to be 100% responsible so:

-Max out monthly investments

-Lease wife's car

-Buy race car

Having been through a cycle of buying and paying off a car just to see it depreciate to basically nothing, I definitely see the value in leasing. It's FAR less money if you like having new cars. Keeping 10% of value in the end versus avoiding paying 50% is an easy decision.

Far out, man.

I mean, your maths is FAR out. Link me to this lease deal let's get the straight dope.

[guest89]

You are completely misunderstanding the terms of the lease if you think that's right. Link me, srs.

Far out, man.

I mean, your maths is FAR out. Link me to this lease deal let's get the straight dope.

We aren't sitting in auto dealerships with invoices/paperwork in front of us. I'm not sure what your expecting anyone to link.


Just from browsing Jeeps website. A 2 year lease agreement is $200 cheaper per month then a 6 year finance. Assuming you do a 6 year finance and trade in at the 2 year mark the value of your vehicle will be affected by depreciation and you literally spent $4,800 more during that two year period on the monthly note. Even with low millage that vehicle will likely depreciate by $10,000-$12,000 in that two year period (As far as trade in value). I've never traded in a vehicle 2 years after buying. But everyone I know that have done that has taken a huge hit.



I'm not arguing leasing is the smart call for everyone. But you made an entire thread criticizing people that lease. When in reality people who's vehicle is a tax deduction likely need to be spending that money to always have a new vehicle. And people who are going to drive a new car every few years regardless typically come out ahead by leasing.

If you buy a used high end luxury or exotic that doesn't depreciate much and you don't put very many miles on it, buying and selling in a few years might be more beneficial. But that's not what we're talking about.

[Gratechester]

You are retard. I get free coverage, no issues under my responsibility, and can upgrade every few years. All while fitting into my budget. U mad

[milesgiles1]

We aren't sitting in auto dealerships with invoices/paperwork in front of us. I'm not sure what your expecting anyone to link.


Just from browsing Jeeps website. A 2 year lease agreement is $200 cheaper per month then a 6 year finance. Assuming you do a 6 year finance and trade in at the 2 year mark the value of your vehicle will be affected by depreciation and you literally spent $4,800 more during that two year period on the monthly note. Even with low millage that vehicle will likely depreciate by $10,000-$12,000 in that two year period (As far as trade in value). I've never traded in a vehicle 2 years after buying. But everyone I know that have done that has taken a huge hit.



I'm not arguing leasing is the smart call for everyone. But you made an entire thread criticizing people that lease. When in reality people who's vehicle is a tax deduction likely need to be spending that money to always have a new vehicle. And people who are going to drive a new car every few years regardless typically come out ahead by leasing.

If you buy a used high end luxury or exotic that doesn't depreciate much and you don't put very many miles on it, buying and selling in a few years might be more beneficial. But that's not what we're talking about.

I've literally answered everything you have written several times ITT, but for the benefit of your lazy ass I'll go over it one more time.

I NEVER said 'finance'. Never even mentioned it. Cash means cash, not a loan. That's the only comparison I am making. And to be clear again, you are NOT escaping depreciation by leasing. Not at all. There's at least a dozen people in this thread, including the fuktard above me, who don't realise this, and you seem to be alluding to it as well.

Also, as I repeatedly said, it is NOT necessary to lease to write off tax. Wear and tear on a car you paid cash for is deductible in exactly the same way.

Type of vehicle is irrelevant because it is factored in by the dealer. You seriously think he is selling you a lease he is losing out on? Fuk no.

[milesgiles1]

You are retard. I get free coverage, no issues under my responsibility, and can upgrade every few years. All while fitting into my budget. U mad

IT IS NOT FREE. It's not itemised, but I guarantee you all the normal car expenses you are calling 'free' are more than covered by the cost of the dealer contract to you. How do you think his business runs exactly, on charity? No, by making $ off monkeys like you who haven't a clue what they've signed

[guest89]

I've literally answered everything you have written several times ITT, but for the benefit of your lazy ass I'll go over it one more time.

I NEVER said 'finance'. Never even mentioned it. Cash means cash, not a loan. That's the only comparison I am making. And to be clear again, you are NOT escaping depreciation by leasing. Not at all. There's at least a dozen people in this thread, including the fuktard above me, who don't realise this, and you seem to be alluding to it as well.

Also, as I repeatedly said, it is NOT necessary to lease to write off tax. Wear and tear on a car you paid cash for is deductible in exactly the same way.

Type of vehicle is irrelevant because it is factored in by the dealer. You seriously think he is selling you a lease he is losing out on? Fuk no.

Depreciation hit depends entirely on your lease agreement.



Paying for vehicles cash can be beneficial for some people (Poor people or those that are bad at managing finances) but in my opinion it can be a poor financial decision. Through my credit union I only pay 2% interest on finance. My investment accounts averaged 18% returns in 2017. Assuming I go pay 50K for my truck cash I'm out 50K, 'debt free herp derp', and don't pay the 2% interest. Assuming I stick the 50K in a my mutual fund I have access to that money should I need it and earn 18% returns (or 16% if you want to subtract the 2% I spent on interest). In my opinion its a no brainer to hoard your money and use the banks.



I'm guessing you'd advocate saving up like 5-10K then going buy an old beater cash and save/invest all your other money and then just hemorrhage money/time for ongoing maintenance/upkeep problems on and old high millage vehicle. No thanks. My time is too valuable.

I'm not a 20 year old college student or minimum wager. I prefer my vehicles to have less then 50K miles and everything under warranty. At a certain point the money for a vehicle isn't even really a factor for some people.

[Scartown]

I am on the side of leasing. Depreciating asset has no business taking up dat sweet sweet capital. But can a miscer explain why renting property (to live in) is seen as throwing cash away when its quite similar to leasing a car?

Although a car will almost always depreciate but real estate goes either way. Educate me brahs.

[CheekyKuntBrah]

I lease. I drive a BMW M135i. That car new at the time at the spec I chose would cost £35k. My lease agreement is 6+23 which basically means 6monthlies upfront and then ongoing monthly payments. My payments are £299.99. So i.e. Overall cost of ownership of that car for 2 years is £8,699.71. Could you buy that car for £35k and sell it in 2 years for £26,300, potentially yes but with a lease you remove this risk and hassle (if you dont have time). If you made any more than £26,300 (which would be marginal at best) then fair enough ownership has worked out better but factor in convenience and that balances the equation out.

The real answer here is each persons circumstances will dictate what the best option for them is. I wanted a decently high spec, fast sport car that was still affordable brand new and I could insure.

M135i unawares, 0-62mph in 4.9 sec, 326BHP, rear wheel drive and totally under the radar as doesnt look like much!

Edit - if you get a great discount off retail then that can heavily influence the decision as well, assuming the car doesnt have a massive depreciation curve and you think it will retain decent value at re-sale.

[r32gojirra]

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?

I bought a Datsun s30 coupe for $3k about 15 years ago, could easily sell it for 25k now.

Also we gonna act like tax deductibility plays no role in this or nah?

[FoulSmell]

**pays cash for my cars crew**

[SeymourGains]

you seem to have mixed your identity with finance and are lost, this copy pasta have never been so relevant.

The problem is you're focusing on the things in life that don't really matter. When I was a kid I had hopes and dreams. We all did. But over time, the daily grind gets in the way and you miss the things that really matter, even though they are right in front of you, staring you in the face. I think the next time you should ask yourself "Am I on the right track here?". I don't mean to be rude but people like you I really pity. So maybe you could use the few brain cells you have and take advantage of the knowledge I have given you now. Good luck.