Poll

Do/Would you Lease or Buy?

Only Lease.
54 (25.2%)
Only Buy.
50 (23.4%)
I judge both options and usually lease.
46 (21.5%)
I judge both options and usually buy.
50 (23.4%)
I don't have a car.
14 (6.5%)

Total Members Voted: 214

Author Topic: Car Lease v. Buying  (Read 33795 times)

Offline george

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Re: Master Thread of Pet Peeves
« Reply #15 on: November 03, 2013, 01:11:59 AM »
I was just offered a 36 month lease on an infinity sedan for ~$400 that's $14400 for 3 yrs I think that's pretty affordable...
14400 for three years as compared to what? When you buy a car, you expect it to last a lot longer than three years. So 14400 is less than list price, but list price gets you way more than three years.
So we need to compare apples to apples in order to really clarify this.
I spent almost exactly $14400 on a two year old Accord with 20,000 miles. I expect it to last me at least ten years. That's $120/month, plus it will still have done year in value after 10 years.
« Last Edit: November 03, 2013, 01:15:47 AM by george »

Offline ayman

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Re: Master Thread of Pet Peeves
« Reply #16 on: November 03, 2013, 01:12:38 AM »
Mods can we spin this off into a buy vs. lease thread or s/t like that. Would love to follow that argument.

Offline ayman

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Re: Master Thread of Pet Peeves
« Reply #17 on: November 03, 2013, 01:13:28 AM »
14400 for three years as compared to what? When you buy a car, you expect it to last a lot longer than three years. So 14400 is less than list price, but list price gets you way more than three years.
So we need to compare apples to apples in order to really clarify this.
and money that goes into maintenance? And when you lease, you not so worried about how you handling the car...

Offline bubbles

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Re: Master Thread of Pet Peeves
« Reply #18 on: November 03, 2013, 01:16:24 AM »
14400 for three years as compared to what? When you buy a car, you expect it to last a lot longer than three years. So 14400 is less than list price, but list price gets you way more than three years.
So we need to compare apples to apples in order to really clarify this.
I spent almost exactly $14400 on a two year old Accord with 20,000 miles. I expect it to last me at least ten years. That's $120/month, plus it will still have done year in value after 10 years.

apples to apples then would be leasing a three year old car after the first lease, correct?

Offline SamKey

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Re: Master Thread of Pet Peeves
« Reply #19 on: November 03, 2013, 01:28:48 AM »
14400 for three years as compared to what? When you buy a car, you expect it to last a lot longer than three years. So 14400 is less than list price, but list price gets you way more than three years.
So we need to compare apples to apples in order to really clarify this.
I spent almost exactly $14400 on a two year old Accord with 20,000 miles. I expect it to last me at least ten years. That's $120/month, plus it will still have done year in value after 10 years.
I'm talking about an infinity
« Last Edit: November 03, 2013, 01:35:53 AM by SamKey »

Offline DovtheBear

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Re: Master Thread of Pet Peeves
« Reply #20 on: November 03, 2013, 01:32:43 AM »
Nobody pays list.  And the numbers seem funny, I just did this comparison on a '14 Ody and it was very different.
I'm just going by the numbers.
+1. Could have easily gotten '13 ody for under 30k. And please point to where you can can it for $330?
Also you are forgetting bank fee (and disposition fee/damages depending on which company you lease from...)
A '13 EX Ody for under $30,000 half a year ago?
I'm not forgetting fees; a relative of mine is paying under $330 all-in (without shtick).
And the lease is since June.
« Last Edit: November 03, 2013, 01:36:01 AM by DovtheBear »
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Offline Saver2000

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Re: Master Thread of Pet Peeves
« Reply #21 on: November 03, 2013, 01:43:41 AM »
@george
A car loses a few thousand dollars in value when it is driven off the dealers lot. 

I ccan use an example of a car that's 2 weeks old, and you'll also be getting a way better deal than  leasing. 

We are talking about brand new cars here. 

Offline Ergel

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Re: Master Thread of Pet Peeves
« Reply #22 on: November 03, 2013, 01:53:05 AM »
I'm just going by the numbers.A '13 EX Ody for under $30,000 half a year ago?
I'm not forgetting fees; a relative of mine is paying under $330 all-in (without shtick).
And the lease is since June.
I got it 4 months ago for less than that, yes
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Offline ckmk47

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Re: Master Thread of Pet Peeves
« Reply #23 on: November 03, 2013, 01:36:05 AM »
Years ago, I bought a Chevy Impala for $9000.  Over the years it needed repairs, sometimes big ones. I put in a new this and that adding up to $5000 or so.  So my actual cost was $14000 or more.  It plotzed after 5 + years Ė 70 months.  Thatís a cost of $200/ month to use up a car I owned.  And it spent time in the shop. And gave me heartburn.  A lease on a new Honda civic is now less than $200/ month. without the agita.
OTOH:  I replaced it with a Toyota Sienna.  I bought it. not a lease.  I use fewer miles than they expect, so I assume that after a few years the resale value will have me come out ahead of a lease.  My monthly payments (on a 1.9% loan),though, are significantly higher than a lease.

Offline jj1000

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Re: Master Thread of Pet Peeves
« Reply #24 on: November 03, 2013, 02:05:18 AM »
Years ago, I bought a Chevy Impala for $9000.  Over the years it needed repairs, sometimes big ones. I put in a new this and that adding up to $5000 or so.  So my actual cost was $14000 or more.  It plotzed after 5 + years Ė 70 months.  Thatís a cost of $200/ month to use up a car I owned.  And it spent time in the shop. And gave me heartburn.  A lease on a new Honda civic is now less than $200/ month. without the agita.
OTOH:  I replaced it with a Toyota Sienna.  I bought it. not a lease.  I use fewer miles than they expect, so I assume that after a few years the resale value will have me come out ahead of a lease.  My monthly payments (on a 1.9% loan),though, are significantly higher than a lease.
You bought a used Impala? Because that is a different sugya all together.
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Offline rots5

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Re: Master Thread of Pet Peeves
« Reply #25 on: November 03, 2013, 02:34:24 AM »
i must agree with dan. in my family we never lease cars. 1 - why walk away fin 3 yrs with nothing. 2- why does the world HAVE to see that im driving the newest and fanciest car? esp if i cant afford it?!?! with that recent infiniti deal. i know many people who offered it for 189 (the g35 - i think) and besides me, many of my friends said, how can we drive a car way abve our pay grade? it looks way to in your face (besides that its a bad car...)

secondly - if you finance a car and after 4 yrs of it payed off and you have it another 100k (or 6 yrs) you essentially saved 6 yrs of useless leasing, plus im sure by the time the car breaks down you still can get money for it from mechanics.

of course there are those who must drive the newest car, bec sitting in traffic feels much better in a 14' jag than a 08 camry... right?! :D
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Online cozmohoot

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Re: Master Thread of Pet Peeves
« Reply #26 on: November 03, 2013, 06:55:25 AM »
Mods can we spin this off into a buy vs. lease thread or s/t like that. Would love to follow that argument.
almost all these posts should be in a lease vs buy thread... Glad I opened this..

Online churnbabychurn

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Re: Car Lease v. Buying
« Reply #27 on: November 03, 2013, 12:16:51 PM »
Most ppl lease odys for 240 0 down and accords for 199.
@dan, still worth buying?

Offline bubbles

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Re: Car Lease v. Buying
« Reply #28 on: November 03, 2013, 12:17:13 PM »
Most ppl lease odys for 240 0 down and accords for 199.
@dan, still worth buying?

link please? looking to lease now and would love either of those deals

Online churnbabychurn

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Re: Car Lease v. Buying
« Reply #29 on: November 03, 2013, 12:57:13 PM »
These deals come and go by the month. I don't know what's available now but my oddy is 240 and a family member got the accord at 199.
I think best is to call the dealers every month and wait far a good deal. -Especially when they are trying to get rid of last years stock...