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Lease VS buy?

meh, cars start to wear out over time, so if you lease it for 3 years or something, you can get rid of it once you're tired of it, or its starting to show signs of decay. this way, you don't really have to be meticulous with it, either. 🙂
 
geezus, enough of these good vs. evil, hot vs cold, small rack vs. massive jugglies posts already.

any vehicle you cannot break at least even with in 3 years on a trade....lease
 
Originally posted by: RaiseUp
Well, I want to get a nice car but I can only pay as a car payment 560-670 a month.
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Only $670/mo.? At today's low rates of (for example) 2.9% over 60 months, that would get you a car of $37,379 with no down. You couldn't just buy a car like that, you have to lease to get more?

Just how "nice" of a car do you want?
 
Originally posted by: RaiseUp
G35 or Range Rover
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done, go to the dealer and get one. you will probably get a better rate with a lease just because luxury cars tend to depreciate less then normal cars.
 
Originally posted by: RaiseUp
G35 or Range Rover
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You shouldn't pay more than the price above even if you buy a G35 with ALL options.

That you want 2 cars that are completely different is even more case for alarm though.
 
changing cars every 3 years is a waste of money regardless of if you lease or buy.

the problem with a lease is that it is not something you can just whip out a financial calculator and figure out while in the finance thief... er, manager's office. you can do that with a buy. a lease you have to use leasing software (preferably the kind your state's attorney general uses to investigate lease fraud). if you don't do that it is particularly easy to get screwed. they're also a horrible idea if you burn a lot of miles. and don't believe the radio ads that say you're only paying for the half of the car you use, that is BS. in a buy the car depreciates just as much and you can sell it to recover the equity.
 
Originally posted by: ElFenix
changing cars every 3 years is a waste of money regardless of if you lease or buy.

the problem with a lease is that it is not something you can just whip out a financial calculator and figure out while in the finance thief... er, manager's office. you can do that with a buy. a lease you have to use leasing software (preferably the kind your state's attorney general uses to investigate lease fraud). if you don't do that it is particularly easy to get screwed. they're also a horrible idea if you burn a lot of miles. and don't believe the radio ads that say you're only paying for the half of the car you use, that is BS. in a buy the car depreciates just as much and you can sell it to recover the equity.
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My dad has always liked leasing, but I was never convinced he saved money. Leasing companies aren't in business to lose money, so worked into the cost of the lease is all the depreciation and financing costs accrued over the lease term, plus their profit. Then as ElFenix said, mileage charges plus any damage you may cause get tacked on in the end. If for some reason you NEED a new car every three years, leasing seems like a false economy to me.
 
How to pay lease prices while buying:
- Buy car at a good price, preferably dealer invoice, and make sure the car has a good projected resell value
- Finance it at one of today's ridiculously low interest rates for 3-4 years (NEVER more than 5)
- Take proper and good care of the car while you own it (get it serviced according to schedule, remember to wax it)
- Own it until it is paid off
- Sell it private party, holding out for book value or better, and pocket the cash

Boom! You now just paid for only the portion of the car's depreciation that you used.
 
You should calculate the depreciation value of it in X years, then see how much the lease costs for X years. That's how my dad taught me to do it. Also buy if you plan on modifications, else just lease. Usually leases you save money and don't have to go through the hassle of selling the car.
 
Originally posted by: MagicianBdotCom
You should calculate the depreciation value of it in X years, then see how much the lease costs for X years. That's how my dad taught me to do it. Also buy if you plan on modifications, else just lease. Usually leases you save money and don't have to go through the hassle of selling the car.
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Yep, you just have to deal with the hassle of buying or leasing a whole new car at a set determined time when your lease ends. You don't get anytime with no car payment and you don't get to buy your next car on your schedule. You do everything on the dealer's terms.
And you pay fees out the ass on the return. Drive too many miles? Pay a fee. Ding or scratch here? Pay a fee. Didn't get the oil changed at the dealer? More fees. And so on...
 
Neither is better. THey all depend on the person. But if you have to ask, then you don't understand what Leasing is so you should buy.
 
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