Leasing Vs. Buying

[sky121]

Depends what circles your in and who your meeting. I happen to have been meeting with some1 abt a yr ago, where if he saw me in my accord which I happen to think is a good nice car , I honestly feel like I wouldn't have got wat I needed out of that meeting. And that's y I parked around the corner

If I ever was in such a situation for work or what not (and I'd hope to not deal with anyone like that) I'd probably rent a car.


Or... I'd just take my Honda Accord and just OWN it. Its all how you present yourself.

[wierdal832]

That's just crazy, find a new place to live.  What a waste.

But even with that, I don't really get what a luxury car does over a regular sedan with leather seats.
It's fun for the first few days, but is it really worth it after the novelty and ego boost wears off?

I have a good job and like where I live. No reason to move. Yea I'd be nice if my commute was shorter  but I'm fine with it

[wierdal832]

If I ever was in such a situation for work or what not (and I'd hope to not deal with anyone like that) I'd probably rent a car.


Or... I'd just take my Honda Accord and just OWN it. Its all how you present yourself.

You'd wana deal with them if it was in your benefit

[sky121]

I have a good job and like where I live. No reason to move. Yea I'd be nice if my commute was shorter  but I'm fine with it

Whatever floats your boat.


Though I am going to guess half the people who think they're fine and happy just don't know how much better/calmer/ nicer it could be. But perhaps its better than that.

[whYME]

I think there are two very different questions/discussions here.

1) Should somebody be getting a new car every few years? Is it ok to spend money on a luxury car?

2) If somebody is getting a new car every few years, should they lease or buy?

[sky121]

You'd wana deal with them if it was in your benefit

Obviously. Like I said, If I had to...

[Dan]

I have a good job and like where I live. No reason to move. Yea I'd be nice if my commute was shorter  but I'm fine with it

Wow.
I just can't wrap my mind around spending 20% of my waking hours doing a mindless commute.
Just think of all the extra time you could be spending with your family or being otherwise productive.

I hope you at least learn some new languages via Pimsleur tapes during the commute.

[wierdal832]

Wow.
I just can't wrap my mind around spending 20% of my waking hours doing a mindless commute.
Just think of all the extra time you could be spending with your family or being otherwise productive.

Not all of us have the luxury of working from a computer in their house

[whYME]

Not all of us have the luxury of working from a computer in their house

Exactly what I was gonna say.


ETA: Not that I would know from personal experience, but I've heard that some people do this commuting thing.

[yehuda S]

Just this evening I had a discussion with a guy who felt really down and out; felt like G-d just didn't want him to be successful. I told him this:

G-d put us in the wealthiest most tolerant country in the world and gave us health and boundless opportunities. I think He is laughing at how silly we are because logically we shouldn't be struggling at all! We should all be millionaires if we just didn't pay attention to how society thinks we should live and instead of buying fancy clothes and driving brand new cars to impress people we don't even like, we use our seichal to become financially secure.

Instead of viewing struggling to make ends meet as the norm, and millionaires as the exception we should view millionaires as the logical practical people and those who fritter their money away in restaurants and on electronic gizmos but can't pay tuition as irresponsible.

I saw a study that showed most American millionaires buy their jeans in Walmart. That's how they got rich- by avoiding Emporio!

[Dan]

Not all of us have the luxury of working from a computer in their house

Of course not, but surely most people would consider a 3 hour commute to be excessive, no?

Maybe I'm just thinking of CLE...nobody spends more than an hour here.

[sky121]

Just this evening I had a discussion with a guy who felt really down and out; felt like G-d just didn't want him to be successful. I told him this:

G-d put us in the wealthiest most tolerant country in the world and gave us health and boundless opportunities. I think He is laughing at how silly we are because logically we shouldn't be struggling at all! We should all be millionaires if we just didn't pay attention to how society thinks we should live and instead of buying fancy clothes and driving brand new cars to impress people we don't even like, we use our seichal to become financially secure.

Instead of viewing struggling to make ends meet as the norm, and millionaires as the exception we should view millionaires as the logical practical people and those who fritter their money away in restaurants and on electronic gizmos but can't pay tuition as irresponsible.

I saw a study that showed most American millionaires buy their jeans in Walmart. That's how they got rich- by avoiding Emporio!

When you're that wealthy you don't need to wear expensive jeans to feel good.

[Ergel]

Why is it all about being rich?
You keep saying don't lease a fancy car so you can be a millionaire. And then what? Who cares? As long as you can provide for your family bnachas isn't that all that matters?

[wierdal832]

Of course not, but surely most people would consider a 3 hour commute to be excessive, no?

Maybe I'm just thinking of CLE...nobody spends more than an hour here.

3 hr sud be a lot less. But when you have to deal with the van Wyck it's turns into 3 hrs

[whYME]

G-d put us in the wealthiest most tolerant country in the world and gave us health and boundless opportunities. I think He is laughing at how silly we are because logically we shouldn't be struggling at all! We should all be millionaires if we just didn't pay attention to how society thinks we should live and instead of buying fancy clothes and driving brand new cars to impress people we don't even like, we use our seichal to become financially secure.

Instead of viewing struggling to make ends meet as the norm, and millionaires as the exception we should view millionaires as the logical practical people and those who fritter their money away in restaurants and on electronic gizmos but can't pay tuition as irresponsible.

Yeah, go tell that to the guy who wishes he can afford the jeans at walmart instead of the gemach / goodwill...

[yehuda S]

Why is it all about being rich?
You keep saying don't lease a fancy car so you can be a millionaire. And then what? Who cares? As long as you can provide for your family bnachas isn't that all that matters?

Well by the time retirement comes around I think being a millionaire would be living bnachas. It would mean being able to help out children and grandchildren, supporting a regular lifestyle and not relying on the government to pay your medical bills when you get sick. And then when life is up leaving your children a small inheritance and a house.

Being a millionaire is t what it used to be.

[sky121]

Money def can help in living calmly. For some it does the opposite.

Meanwhile I understand the feeling of 'needing' a nice car. Especially when living in NY/LA. I'm just happy I don't have that problem.

[Let3]

I think there are two very different questions/discussions here.

1) Should somebody be getting a new car every few years? Is it ok to spend money on a luxury car?

2) If somebody is getting a new car every few years, should they lease or buy?

I think this was nicely said!
When buying a used car you are not getting that 'new' feeling - and that does last more then the first few days in my opinion.. Last almost two years till things dart braking down etc -cars just aren't made to last long anymore - and yes everyone knows that is what your paying for when leasing new car!

Even when financing used car was said you end up paying 100$/month.. So I think understandable for ppl to pay 190-215 for new one (based on above)
Especially if your the type that will want to "churn" your cars every few years- cause then you don't have to deal with finding a buyer and if being in top notch condition
And for all those complaining about leasing companies overcharging when returning- I don't know what you did to your cars but we have been leasing for quite a while and usually do not have any problems-
It is smart to get a car with a 1500$ damage waiver obviously (like Hondas) - and then we've had pretty bad dents and scratches and Got away with it (and can go to local mechanic and cover stuff up for cheap..) you don't pay for any motor or other inside damage that you would have to worry about when selling a used car- and THAT s what your paying for!!

[Name Changed]

I think its a pretty tough call.

The OP isn't very clear if he is referring to Leasing vs. Buying a new car or a used car.

My first car I bought was a used car, I paid $8000 for the car, put in ~$4000-5000 in repairs, sold it a year and a half later for $5000. So basically I lost $7000+ in the short time I had it, besides for the aggravation I went thru, and the major hassle of not having a car for weeks (at the time when it was at the mechanic) ect.

If I would've leased I would have done much better.

I know this case is a little of a fluke, and not the typical, but I'm just trying to bring out a point.

Either way after all this, I didn't want to buy a used car so I bought a new car. I ran all the numbers, and it definitely was worth it for me to buy a new car over lease. (At the deal I was able to get, a 2011 Sonata for $18k)

Now in comparing between buying new vrs leasing... Over the first 3-4 years your payments will be higher when you buy, but once your car is paid off you won't have to be paying. When by leasing after 3 years, you have nothing and have to lease again. However over a 6-8 year period (based on that 12k miles is enough for you, and you don't smash up the car) then its not a huge money difference. You will save a few thousand dollars , but not enough to buy a bank

Also - even in my case, if I wouldn't have gotten a great deal on my car, and if I would have paid full retail - $22k, likely I would be better off leasing. (So buying new is only worth it if you get a good deal)

People like leases, as you have a new car every few years, and don't have to worry about repairs ect. It is a little of a luxury, but you are paying for that. I don't think that its called throwing your money out.

Regarding leasing a more expensive car, if someone has money what is wrong with him doing that. He doesn't have to live his life on a constricted budget. The higher end cars, drive better are more comfortable and this is a luxury the person wants to pay for. Would you call eating out and paying $200-300 monthly a waste of money? That how this person enjoys spending his money.

Just wanna add - that usually its easier to get approved for a lease over a car loan, so people with not such great credit might have no other option
 

[mclovin]

People like leases, as you have a new car every few years, and don't have to worry about repairs ect. It is a little of a luxury, but you are paying for that. I don't think that its called throwing your money out.

Regarding leasing a more expensive car, if someone has money what is wrong with him doing that. He doesn't have to live his life on a constricted budget. The higher end cars, drive better are more comfortable and this is a luxury the person wants to pay for. Would you call eating out and paying $200-300 monthly a waste of money? That how this person enjoys spending his money.

+1 (i was just to lazy to write it out)