Poll

Do/Would you Lease or Buy?

Only Lease.
71 (21.9%)
Only Buy.
91 (28.1%)
I judge both options and usually lease.
64 (19.8%)
I judge both options and usually buy.
74 (22.8%)
I don't have a car.
24 (7.4%)

Total Members Voted: 324

Author Topic: Car Lease v. Buying  (Read 167308 times)

Offline DovtheBear

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Nov 2012
  • Posts: 2915
  • Total likes: 9
  • DansDeals.com Hat Tips 14
    • View Profile
  • Location: ליבי במזרח ואנכי בסוף מערב
  • Programs: Regus Gold, Hertz 5 Star, National Executive, Sixt Platinum, Chase Debit, Rav Kav Emerald
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 »
"להסתובב זה לא אומר להיות חופשי"

Offline Saver2000

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Apr 2011
  • Posts: 7660
  • Total likes: 47
  • DansDeals.com Hat Tips 0
    • View Profile
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

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Jun 2010
  • Posts: 12818
  • Total likes: 905
  • DansDeals.com Hat Tips 3
    • View Profile
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
Life isn't about checking the boxes. Nobody cares.

Offline ckmk47

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 7963
  • Total likes: 1045
  • DansDeals.com Hat Tips 3
  • Gender: Female
    • View Profile
  • Location: brooklyn
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 – 70 months.  That’s 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.
My favorite cause: cssy.org

Online jj1000

  • Administrator
  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • **********
  • Join Date: Jun 2008
  • Posts: 13472
  • Total likes: 6096
  • DansDeals.com Hat Tips 29367
    • View Profile
  • Location: The value of a forum such as this one is not in that one can post a question and receive an answer, but in that the question has most likely been asked before, and the answer is available to him that will but only use the search function.
  • Programs: 1. Search on google. 2. Search in the right board of DDF with a general word or two. 3. Read the wiki. 4. Read the thread. 5. Ask away.
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 – 70 months.  That’s 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.
See my 5 step program to your left <--

(Real signature under my location)

Offline rots5

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2011
  • Posts: 7996
  • Total likes: 27
  • DansDeals.com Hat Tips 17
    • View Profile
    • Custom Cakes for Every Occassion
  • Location: Monsey
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
If you have any questions please search and then ask. PM me for detailed help.

Offline cozmohoot

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jan 2012
  • Posts: 4440
  • Total likes: 95
  • DansDeals.com Hat Tips 5
    • View Profile
  • Location: NY
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..

Offline churnbabychurn

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2012
  • Posts: 7355
  • Total likes: 301
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Lakewood
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

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2011
  • Posts: 5060
  • Total likes: 20
  • DansDeals.com Hat Tips 67
    • View Profile
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

Offline churnbabychurn

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2012
  • Posts: 7355
  • Total likes: 301
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Lakewood
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...

Offline cozmohoot

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jan 2012
  • Posts: 4440
  • Total likes: 95
  • DansDeals.com Hat Tips 5
    • View Profile
  • Location: NY
Re: Car Lease v. Buying
« Reply #30 on: November 03, 2013, 01:01:09 PM »
No Ody is at 240 now.

Offline A3

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Nov 2009
  • Posts: 3449
  • Total likes: 95
  • DansDeals.com Hat Tips 5
  • Gender: Male
    • View Profile
Re: Car Lease v. Buying
« Reply #31 on: November 03, 2013, 01:12:20 PM »
Why calculate per year or per month. How about per mile. With lease your limited. But even if you buy not everyone drives a ton. I have a 14 year old car with 88,000 miles on. And bli ayan horo. Besides brakes and tires costed me under under $500 in repairs over the years. If you get a reliable car. Cheap or not and take care of it, there is no reason why it should last less then 10 years 100,000 miles.

Offline Ergel

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Jun 2010
  • Posts: 12818
  • Total likes: 905
  • DansDeals.com Hat Tips 3
    • View Profile
Re: Car Lease v. Buying
« Reply #32 on: November 03, 2013, 02:31:29 PM »
No Ody is at 240 now.
+1, and much as I hate to say it, I doubt ever was.
"Most people"- do you know anyone other than yourself. And yes the accord is occasionally 200 but most people pay more. Also, what model of the odyssey are we talking (when that doesn't get mentioned you can be comparing two totally different cars. Odyssey's range in price from $27k-$46k)
Life isn't about checking the boxes. Nobody cares.

Offline SamKey

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Mar 2013
  • Posts: 3311
  • Total likes: 30
  • DansDeals.com Hat Tips 2
    • View Profile
  • Location: If I'm there I can't be here and if I'm here I can't be there
  • Programs: National EE; Hertz PC; Sixt Plt; Avis First; Hilton Gold; Priority Club Plt; West Bestern DE; Carlson Club GE; Accor PLT
Re: Car Lease v. Buying
« Reply #33 on: November 03, 2013, 02:44:47 PM »
I still believe the smartest thing (though not hassle free) is renting at least over leasing

Offline Lou Bob

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Apr 2010
  • Posts: 2036
  • Total likes: 153
  • DansDeals.com Hat Tips 3
    • View Profile
  • Location: Hidden City
Re: Car Lease v. Buying
« Reply #34 on: November 03, 2013, 02:46:20 PM »
I still believe the smartest thing (though not hassle free) is renting
ur biased, but at the end of the day  ur basically saying leasing makes more sense, cuz they have similar perks such as no maintenance
Always use an Amex, you'll thank me one day.

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 67601
  • Total likes: 16913
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
Re: Car Lease v. Buying
« Reply #35 on: November 03, 2013, 02:52:25 PM »
+1, and much as I hate to say it, I doubt ever was.
"Most people"- do you know anyone other than yourself. And yes the accord is occasionally 200 but most people pay more. Also, what model of the odyssey are we talking (when that doesn't get mentioned you can be comparing two totally different cars. Odyssey's range in price from $27k-$46k)
The '14 Touring for example was $570 from the NY leasing places.  Plus $1,650 in fees makes that $616.
Compared to a $42.7K sticker that can be negotiated down to $37K+tax=$40K.
That's a breakeven point of 65 months.  And that doesn't account for damages, disposition, and mileage limitations that come with a lease.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 67601
  • Total likes: 16913
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
Re: Car Lease v. Buying
« Reply #36 on: November 03, 2013, 02:53:09 PM »
ur biased, but at the end of the day  ur basically saying leasing makes more sense, cuz they have similar perks such as no maintenance
A good Japanese car probably won't need any kind of major maintenance for 10/100K.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline churnbabychurn

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2012
  • Posts: 7355
  • Total likes: 301
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Lakewood
Re: Car Lease v. Buying
« Reply #37 on: November 03, 2013, 02:54:36 PM »
I pay 240 and yes it does happen ~ once a year when the new model comes in.... Ask around in Lakewood, no one pays 300+ they wait for a deal.
I'm talking stripped down base. (Two seats in middle row which is awful BTW)
« Last Edit: November 03, 2013, 02:58:57 PM by churnbabychurn »

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 67601
  • Total likes: 16913
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
Re: Car Lease v. Buying
« Reply #38 on: November 03, 2013, 02:56:26 PM »
I pay 240 and yes it does happen ~ once a year when the new model comes in.... Ask around in Lakewood, no one pays 300+ they wait for a deal.
That happens because the price of buying it also plummets.  Cheap lease pricing isn't magic, it's because of other factors.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Ergel

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Jun 2010
  • Posts: 12818
  • Total likes: 905
  • DansDeals.com Hat Tips 3
    • View Profile
Re: Car Lease v. Buying
« Reply #39 on: November 03, 2013, 03:04:36 PM »
I pay 240 and yes it does happen ~ once a year when the new model comes in.... Ask around in Lakewood, no one pays 300+ they wait for a deal.
What model? Can you scan your lease payment?
And "most people" lease during a two week window? 
Life isn't about checking the boxes. Nobody cares.