Leasing Vs. Buying

[yehuda S]

Anyone who leases a new car is getting screwed whether it sounds like a great deal or not.

Be smart. Don't get screwed.

[judahk88]

Anyone who leases a new car is getting screwed whether it sounds like a great deal or not.

Be smart. Don't get screwed.

  explain?

[wierdal832]

Anyone who leases a new car is getting screwed whether it sounds like a great deal or not.

Be smart. Don't get screwed.

How do u figure

[Dan]

Because leasing costs more in the long-run than buying.

[yehuda S]

There is a whole list of reasons.

Number one on the list is: a car loses massive amounts of money within the first couple of years. Who do think is paying for that depreciation? Hint: it isn't the leasing company, it's you.

It's a well known fact that as soon as you drive a new car off the lot it loses thousands of dollars in value. Would you pay three thousand dollars to drive a car out of a parking lot? Of course not, so don't lease it.

When you lease a car you aren't renting the car, you are essentially buying a new car and selling it back to the company at the price they are willing to pay.

[wierdal832]

Because leasing costs more in the long-run than buying.

Agreed. But not evey1 wants the same car for more then 2-3 yrs

[SamKey]

How do u figure

Damage and Mileage

[yehuda S]

Agreed. But not evey1 wants the same car for more then 2-3 yrs

The only 'advantage' to leasing is being able to drive a car you can't afford. And for smart people that isn't an advantage at all.

[SavingsBigtime]

Just keep in mind that is hassle free , u do pay for that, the question is how much it's worth.

[wierdal832]

There is a whole list of reasons.

Number one on the list is: a car loses massive amounts of money within the first couple of years. Who do think is paying for that depreciation? Hint: it isn't the leasing company, it's you.

It's a well known fact that as soon as you drive a new car off the lot it loses thousands of dollars in value. Would you pay three thousand dollars to drive a car out of a parking lot? Of course not, so don't lease it.

When you lease a car you aren't renting the car, you are essentially buying a new car and selling it back to the company at the price they are willing to pay.

You are way off dude. It's a long term rental. U pay a set amt per month and then return it when it's up. Not sure what your talking abt, selling it back

[wierdal832]

When u can get a Honda accord for 175-200 a month, it's a very solid car and not at all expensive

[Dan]

You are way off dude. It's a long term rental. U pay a set amt per month and then return it when it's up. Not sure what your talking abt, selling it back

He's not.
How do you think the price is calculated? They figure out what it will be worth in 3 years from now.

[Dan]

Agreed. But not evey1 wants the same car for more then 2-3 yrs

Fair enough, but realize you're paying a premium for that.

[wierdal832]

Fair enough, but realize you're paying a premium for that.

Of course. I think every1 knows that.

[yehuda S]

Just keep in mind that is hassle free , u do pay for that, the question is how much it's worth.

If you consider it hassle free to fret about staying under your mileage, worry about dings and dents and pay high premiums for insurance... And then be informed that you owe hundreds of dollars just for the honor of returning the car to the leasing company. Which they will gladly roll into a new 'hassle free' lease.

Ugh. I've been there and done that. What a headache. No more.

[Dan]

The only 'advantage' to leasing is being able to drive a car you can't afford. And for smart people that isn't an advantage at all.

That's the annoying part.
Guy paying cc debt leases a $45K car.  I mention this to a friend and they brush it off, well it's just leased.
As if that makes it better...it makes it worse!

[wierdal832]

You pay a premium for most things in life. Unless your name is Dan eleff

[sky121]

That's the annoying part.
Guy paying cc debt leases a $45K car.  I mention this to a friend and they brush it off, well it's just leased.
As if that makes it better...it makes it worse!

In general, I'm not a fan of leasing. I've had plenty of people try to convince me why its a "smarter" choice. I just don't see it.

[sky121]

You pay a premium for most things in life. Unless your name is Dan eleff

What's that supposed to mean? Why lease an expensive car when you can buy a cheaper one?

[yehuda S]

He's not.
How do you think the price is calculated? They figure out what it will be worth in 3 years from now.

Yup and if you were rear-ended they will decide to pay you less for it. And they'll charge for the over mileage and the stain from when your baby threw up in the back seat.