Thinking of leasing a car

[quackagator]

The wife is thinking of leasing good idea or not?

 

[FoBoT]

very few people should lease a car

it is almost always a BAD idea

read this

Leasing may seem cheaper than buying, but you're mortgaging your future when you lease. After a few years of leasing a vehicle and making payments, you own nothing.

 

[StageLeft]

Not always, but generally it's for those who can more reasonably afford a lower car, but they would rather have the nicer car now, now now. If you have to lease you probably shouldn't be buying it.

 

[conjur]

Depends on if you want to have a perpetual car payment or not.

Do you get a new car every 2-4 years? If so, leasing can be cheaper or let you get a better car. You'll typically never have to worry about major maintenance either.

 

[boggsie]

Originally posted by: quackagator
The wife is thinking of leasing good idea or not?

Wow, if you perpetually have a car payment (never pay off the loan for buying one), never expect to go over the lease mileage and will be able to last for the entire lease term, it might be a good idea.

 

[gogeeta13]

You put yourself in a loop of not being able to afford what you drive, and not having anything to show for your money. Dont do it. Live within your means, go against the grain of poorly judged americans spending their money on leases.

 

[SuperSix]

Not a bad idea if you can stay under the mileage limitations. That;s what gets you.. if the xxc/mile.

 

[SherEPunjab]

interest rates are pretty low. if you are a business owner and can write it off, that may be another benefit.

it also depends on the car she would like. if she wants a car that depreciates heavily, she should not buy it IMHO, rather lease it. after lease period is over, she can buy it for cheap, or buy something else. If you have excess money, you may also want to lease it so you can get a new car every 3-4 years without breaking the bank.

 

[ElFenix]

Originally posted by: conjur
Depends on if you want to have a perpetual car payment or not.

Do you get a new car every 2-4 years? If so, leasing can be cheaper or let you get a better car. You'll typically never have to worry about major maintenance either.

i think you've sold cars for too long

 

[ElFenix]

Originally posted by: SherEPunjab
it also depends on the car she would like. if she wants a car that depreciates heavily, she should not buy it IMHO, rather lease it.

that makes no sense. you have to pay for the depreciation either way

 

[conjur]

Originally posted by: ElFenix

Originally posted by: conjur
Depends on if you want to have a perpetual car payment or not.

Do you get a new car every 2-4 years? If so, leasing can be cheaper or let you get a better car. You'll typically never have to worry about major maintenance either.

i think you've sold cars for too long

heh...dropped that like a hot potato almost a year ago!

You'd be surprised at the # of people who sell cars that lease them.

 

[ElFenix]

Originally posted by: conjur

heh...dropped that like a hot potato almost a year ago!

You'd be surprised at the # of people who sell cars that lease them.

any time selling cars is too long

 

[conjur]

Originally posted by: ElFenix

Originally posted by: conjur

heh...dropped that like a hot potato almost a year ago!

You'd be surprised at the # of people who sell cars that lease them.

any time selling cars is too long

I think everyone should try it. Interesting to see it from the other side!

 

[SherEPunjab]

Originally posted by: ElFenix

Originally posted by: SherEPunjab
it also depends on the car she would like. if she wants a car that depreciates heavily, she should not buy it IMHO, rather lease it.

that makes no sense. you have to pay for the depreciation either way

but you're not stuck with a car that only worth 1/8th the price that you started with after 4 years.

 

[Eug]

Having gone thru all the calculations, it made sense for me only because I could write part of it off. However, if you like a new car every year or something it might make sense to lease.

Also... I leased mine for 4 years and still had 1.5 years left. Then I saw a new car I wanted and asked how much it would cost me to break the lease. To my surprise, it was zero, because I was getting another Toyota. I had low mileage though.

 

[ElFenix]

Originally posted by: SherEPunjab

Originally posted by: ElFenix

Originally posted by: SherEPunjab
it also depends on the car she would like. if she wants a car that depreciates heavily, she should not buy it IMHO, rather lease it.

that makes no sense. you have to pay for the depreciation either way

but you're not stuck with a car that only worth 1/8th the price that you started with after 4 years.

and yet either way you still paid the 7/8th of the price of the car, either they took it back at the end of the lease or you sold the car. actually, since leases are so convoluted and impossible to understand, you probably paid more than that

 

[CraigRT]

I might lease my next car. I want to be in something new all the time, and I got quoted on a new Dakota with a higher amount of miles lease, it was very affordable.

 

[nsafreak]

I don't think I'll ever lease a car myself. I just can't see the sense in make car payments for 2 years or 4 and then having to typically pay more than the car is worth to buy it. I'll just stick with buying thank you very much.