Geodriller
Full Access Member
thinkin bout leasing a new vehicle. I have never done it and am looking for pros vs. cons from those of you that have
thanks
thanks
Buy vs. Lease
- Thread starter Geodriller
- Start date
if you want a new vehicle every few years and intend to have a car payment the rest of your life because you want new, leasing is a good option.
pros:
usually have maintenance contracts/warranties
new car every few years
if you decide to purchase after the lease is up, you know how it's been driven for the first few years of it's life
end of lease buy out is usually a decent deal
cons:
like renting a house - you throw it away
usually can't get all the options you want with a lease vehicle
usually several k down payment
high charges for going over mileage
you end up paying the depreciation of a new car in the first few years with your lease payments, so say, $300/month for 36 months, then a 4 year loan at the end if you buy it out for $300/month... that's basically 7 years of payments if you buy it out (as an example) where you could very well have negotiated a better purchase price and owned it after 4 years... obviously the payment is higher, but then it's yours at the end...
pros:
usually have maintenance contracts/warranties
new car every few years
if you decide to purchase after the lease is up, you know how it's been driven for the first few years of it's life
end of lease buy out is usually a decent deal
cons:
like renting a house - you throw it away
usually can't get all the options you want with a lease vehicle
usually several k down payment
high charges for going over mileage
you end up paying the depreciation of a new car in the first few years with your lease payments, so say, $300/month for 36 months, then a 4 year loan at the end if you buy it out for $300/month... that's basically 7 years of payments if you buy it out (as an example) where you could very well have negotiated a better purchase price and owned it after 4 years... obviously the payment is higher, but then it's yours at the end...
I leased my jetta due to not wanting to buy another car out right.
my volkswagon can be taken back at anytime and given back to dealer, And I can walk away from it. just a 350.00 fee.
so in tough times, you don't have to make a car payment if you dont have to, unlike when you buy the car, your stuck inless you can sell it for what you owe on it.
I put nothing down, on mine. everything is under warranty, oil changes, etc. for 3 years.
I bought mine to keep miles off the truck everyday, plus a beater car from here to there.
Dan is kinda right and kinda wrong, I could of leased a full decked out CC with nothing down, but bigger payment everymonth. some dealers do this & some don't.
it boils down to if you want to keep the kinda car you are going to lease, would I buy my jetta outright, No. it's perfect as a lease to me and that's about it.
I should of leased a 2.0T cause this 140HP blows, but it's just a beater I keep telling myself that
go to the dealer and ask all of your questions, I only did mine due to the fact that I could return the car at anytime, and end my lease.
my volkswagon can be taken back at anytime and given back to dealer, And I can walk away from it. just a 350.00 fee.
so in tough times, you don't have to make a car payment if you dont have to, unlike when you buy the car, your stuck inless you can sell it for what you owe on it.
I put nothing down, on mine. everything is under warranty, oil changes, etc. for 3 years.
I bought mine to keep miles off the truck everyday, plus a beater car from here to there.
Dan is kinda right and kinda wrong, I could of leased a full decked out CC with nothing down, but bigger payment everymonth. some dealers do this & some don't.
it boils down to if you want to keep the kinda car you are going to lease, would I buy my jetta outright, No. it's perfect as a lease to me and that's about it.
I should of leased a 2.0T cause this 140HP blows, but it's just a beater I keep telling myself that
go to the dealer and ask all of your questions, I only did mine due to the fact that I could return the car at anytime, and end my lease.
I never knew you could do that return the car for a fee thats pretty cool
Callin my mans car a shit box lol
Geodriller
Full Access Member
I leased my jetta due to not wanting to buy another car out right.
my volkswagon can be taken back at anytime and given back to dealer, And I can walk away from it. just a 350.00 fee.
so in tough times, you don't have to make a car payment if you dont have to, unlike when you buy the car, your stuck inless you can sell it for what you owe on it.
I put nothing down, on mine. everything is under warranty, oil changes, etc. for 3 years.
I bought mine to keep miles off the truck everyday, plus a beater car from here to there.
Dan is kinda right and kinda wrong, I could of leased a full decked out CC with nothing down, but bigger payment everymonth. some dealers do this & some don't.
it boils down to if you want to keep the kinda car you are going to lease, would I buy my jetta outright, No. it's perfect as a lease to me and that's about it.
I should of leased a 2.0T cause this 140HP blows, but it's just a beater I keep telling myself that
go to the dealer and ask all of your questions, I only did mine due to the fact that I could return the car at anytime, and end my lease.
you call it a beater, doesw that mean you didnt get it new. i thought you could only lease brand new:dontknow:
505'sFastestViper.
Full Access Member
Dear Geodriller,
Well, to start with I’ve got to tell you that I’m a boy and I love cars. However, I have found as I run the numbers on cars that they are the largest purchase Americans make that goes down in value. We buy a larger purchase with our home, but typically it goes up in value. Kiplinger’s Personal Finance Magazine says that a new car will lose 60% of its value in the first four years. Well, that doesn’t work. Turning $30,000 into $11,000 is not a good plan. So financially speaking, and common sense agrees, if you’ll pay cash to buy a two-year-old car with very low miles in near perfect condition, you will let someone else take the bulk of the value loss. That is what the typical millionaire does. Very few millionaires lease cars – or as we call it, fleecing a car – because it is the worst deal on the car lot. Consumer Reports, Consumer Federation of America and Smart Money Magazine have all done articles on the “fleece” and the fact that it’s a rip-off. It is good only for the dealership. It is a high rate of interest; of course the interest rate is never disclosed.
The bottom line is that you’re buying a new car that’s going down in value and you’re financing it expensively, but they offer a low monthly payment, which is all a lot of people look at. You’re almost renting your car and at the end you turn it in and you have nothing. So I would buy a two-year-old or older vehicle – whatever I could get paying cash.
Dave Ramsey
Well, to start with I’ve got to tell you that I’m a boy and I love cars. However, I have found as I run the numbers on cars that they are the largest purchase Americans make that goes down in value. We buy a larger purchase with our home, but typically it goes up in value. Kiplinger’s Personal Finance Magazine says that a new car will lose 60% of its value in the first four years. Well, that doesn’t work. Turning $30,000 into $11,000 is not a good plan. So financially speaking, and common sense agrees, if you’ll pay cash to buy a two-year-old car with very low miles in near perfect condition, you will let someone else take the bulk of the value loss. That is what the typical millionaire does. Very few millionaires lease cars – or as we call it, fleecing a car – because it is the worst deal on the car lot. Consumer Reports, Consumer Federation of America and Smart Money Magazine have all done articles on the “fleece” and the fact that it’s a rip-off. It is good only for the dealership. It is a high rate of interest; of course the interest rate is never disclosed.
The bottom line is that you’re buying a new car that’s going down in value and you’re financing it expensively, but they offer a low monthly payment, which is all a lot of people look at. You’re almost renting your car and at the end you turn it in and you have nothing. So I would buy a two-year-old or older vehicle – whatever I could get paying cash.
Dave Ramsey
na bro 2012.
beater because it's a A to B car in my eyes ya know.
I pay 216.00 a month with a 5000.00 coverage for return of the lease, daily wear and tear.
so in a nut shell, I'll drop it off when i'm done and not put a cent into the car, brakes,tires,etc. 5000.00 worth of that kind of coverage, and dents and dings to.
I don't know about flease and i'm not rich so who really cares what rich people do. I'm a blue collar united states coast guard ship builder. they can cram that up their asses for all I care bro.
to each their own is how I look at it.
i'm guessing cause of the economy, with people losing jobs. instead of repo I guess give them a chance to bring it back :dontknow::dontknow::dontknow:
thats one of the reasons why I got it. If I don't like it, I take it back.
i agree with Dom:rock:
don't know if its still done, have known several folks over the years & took it up the butt with a hugh balloon payment at the end of the lease or the lease co. would sell the lease to another lease co. & they got stuck with which ever state it went to taxes. like i said not 100% sure on the details, just remember every one bitchin bout havin to pay taxes AGAIN
don't know if its still done, have known several folks over the years & took it up the butt with a hugh balloon payment at the end of the lease or the lease co. would sell the lease to another lease co. & they got stuck with which ever state it went to taxes. like i said not 100% sure on the details, just remember every one bitchin bout havin to pay taxes AGAIN
i'm pretty sure that's called read your lease contract...
505'sFastestViper.
Full Access Member
with that attitude you will never be rich
with that attitude you will never be rich
why cause I lease a car, and don't care about people with millions of dollars.
I am happy with my life and everything in it.
goes to show buddy, even on here. money don't buy you happyness.
if anybody has a problem with me not having a ton of money or a super fast car, please speak your mind and say so.
it's happiness
it's happiness
i'm glad you are here, your like my iPhone spell check.
:rock::rock::rock::rock: another factor in why I will never be rich, I can't spell
hahahahaha... i only do it now because you said i did it...
i'm here for you, bro... totally here for you
i'm here for you, bro... totally here for you
505'sFastestViper.
Full Access Member
some people are just content with what they have....thats fine .... i am not one of those people.....so to take advise from a multi millionaire (dave ramsey) is a smart move for me and others im sure im not here to measure peters or just start shit it was my opinion and you started talking about your mediocre job and how they can cram it up there ass.....the discussion was to lease or not and i gave my input quoted from d ramsey.....i wont worry about losing my house or cars....they are all paid for....
but if i were your phone, i'da changed "happyness" to "herpes of the face"
somehow that would have been my next best thing to the misspelling of happiness
somehow that would have been my next best thing to the misspelling of happiness
but if i were your phone, i'da changed "happyness" to "herpes of the face"
somehow that would have been my next best thing to the misspelling of happiness
probably would
Support Us
Become A Supporting Member Today!
