Anybody here lease their vehicles?

[thingshappening]

My brother does. Although I never considered it before, his math is convincing.

Neither of us are good with our hands, therefore dealing with maintenance bullshit is a huge hassle. We have no idea whether or not we are being scammed by the inevitably lying garage (I know, I know. This is where everyone pretends they have a "guy" who would never lie to them, etc. etc. etc. *insert alpha male posturing here*).

My bro changes the oil every five thousand miles or so with zero other bullshit, zero down, and drives a new car every three years.

Anybody else lease? I'm considering it....

 

[Tronic]

Only way to go bro

 

[Sam the Caveman]

Its a good route for some people who fit into a certain category of driver.

If you've been buying a new vehicle as soon as you pay off the note on your current vehicle and you drive less than ~15,000 miles a year. Than I'd say that leasing is a good option for you.

Me personally, I'm a broke fellow, so I only buy a vehicle that I know I can put some miles on and then sell it for nearly what I bought it for. One time I drove a car for 4 years and sold it for more than what I paid for it. But I know how to work on vehicles, so if something like a water pump or alternator or power steering pump breaks I can fix it.

 

[qwerty]

What are some numbers, e.g?

 

[Stoner4Life]

What are some numbers, e.g?

you can lease a shit box w/4 cylinder for $160 per month, personally I drive nicer cars so.......


$2500 down & 250 per month for 36 months = $11,500 bucks you're shelling out every 3 yrs.

do NOT bring back a car w/any parking lot dings in it or you're paying for bodywork @ dealership prices, same w/the interior.

do NOT return your lease car w/any extra mileage on it or pay dearly a per mile fee.

they expect you to bring them back the car exactly as you got it.

you WILL buy the best insurance you can costing you more.


it's a friggin' racket, expect them to hit you w/a fee wherever possible.

 

[headiez247]

you can lease a shit box w/4 cylinder for $160 per month, personally I drive nicer cars so.......


$2500 down & 250 per month for 36 months = $11,500 bucks you're shelling out every 3 yrs.

do NOT bring back a car w/any parking lot dings in it or you're paying for bodywork @ dealership prices, same w/the interior.

do NOT return your lease car w/any extra mileage on it or pay dearly a per mile fee.

they expect you to bring them back the car exactly as you got it.

you WILL buy the best insurance you can costing you more.


it's a friggin' racket, expect them to hit you w/a fee wherever possible.

If you drive less then 15k (or even better, less then 12k) and want to have a new car every 3 years then this is one option. Also popular for people who have asset protection in mind.

If you drive more then 15k a year, leasing just doesn't work so your gonna want to buy a car. Buying is better financially if you can afford it.

 

[TruthOrLie]

I drive an old hand me down mercedes.

Gas guzzler but reliable.

Pay the mechanic less than $2k a year to keep me rolling.

Invincible to a Mack truck.

Low profile.

You can get a great one for less than $5k

 

[FunkBomb]

I currently lease my vehicle, but plan on buying once the lease is over. It's nice to have a new vehicle with all the warranties, but in the end you pay much more. It's smarter financially to save up and pay for a vehicle in full or put down a large down payment, thus making the remaining payments lower.

-Funk

 

[Greenwich Pope]

I have a couple of cars i dont drive much that are paid for.I don't want the payments.
Seems a waste unless you need some fancy car for work.

 

[TNTBudSticker]

you can lease a shit box w/4 cylinder for $160 per month, personally I drive nicer cars so.......

$2500 down & 250 per month for 36 months = $11,500 bucks you're shelling out every 3 yrs.

do NOT bring back a car w/any parking lot dings in it or you're paying for bodywork @ dealership prices, same w/the interior.

do NOT return your lease car w/any extra mileage on it or pay dearly a per mile fee.

they expect you to bring them back the car exactly as you got it.

you WILL buy the best insurance you can costing you more.


it's a friggin' racket, expect them to hit you w/a fee wherever possible.

That is just it...You have to be a on a hair-trigger and probably have to re-lease another car and then they won't charge not even alot for the body work and other related costs unless you keep re-leasing their cars and plan to keep that one last car in the garage spotless just to be safe from your last car you're going to lease spotless.

I shopped for a car one time and then was told they leased about 70 percent of their cars off their lot.Pretty skeptical.So I bought one that lasted 6 years and wrecked it and got full coverage and figured I paid $4,500 for the car for 6 years or all my insurance money back for 6 years because I paid off the car in 3 years.

Own a car.Whatever your Brother does..do the opposite. lol

 

[Lazyman]

Dont own anything you dont want stolen by Feds in an asset forfeiture suit. if you cant prove you bought it with legit funds, they will keep it.

 

[Yes4Prop215]

BOTH! haha..but i love my lease car because i know the feds cant steal it. i pay 250 a month for my AWD "smuggler"....brand new, no maintenance...real low key.

but the "mileage penalty fee" is only .17 cents a mile, compared with the 25 cents a mile im paying for my lease payment. so i figure im gonna run that shit up and just buy the damn car......fuck all this cents BS. my buddy works at the dealer and they already told me they would sell me the car for 12k at the end of lease. total lease is costing me around 11k...so im getting the car for 23k and it was 21k out the door...so i figure im paying 2k for a low key car loan that keeps the feds from stealing my shit during the first three years...

ive owned a ton of cars...and they are usally money pits especially old ones. im 4 grand into a 1991 POS that isnt worth 1500 right now and she needs another 1k for brakes and bodywork....my brother is probably 25k into his 8k subaru WRX because so much shit keeps breaking..he just went into credit card debt to pay 4k for a new motor. so if your gonna own a car make sure its reliable...

other than that i like leasing....its good for those who do illegal shit. if you have legal cash up front, then buy the car outright. but if you got grow money...LEASE SOMETHING. brand new car = less chance of getting blurped for a broken taillight or breaking down on the side of the freeway with 10lbs stuffed into a subwoofer (happened to a friend lol).....

 

[BlueGrassToker]

It has been said the rich people never lease a vehicle. There is something to be learned from that if that is true. Rich people usually make the best economical moves...that's why they are rich.
But then, I'm not rich so I wouldn't know....

 

[thingshappening]

What are some numbers, e.g?

I'm looking at the Excel spreadsheet but it's littered with personal info. Sorry bro.

you can lease a shit box w/4 cylinder for $160 per month, personally I drive nicer cars so.......


$2500 down & 250 per month for 36 months = $11,500 bucks you're shelling out every 3 yrs.

do NOT bring back a car w/any parking lot dings in it or you're paying for bodywork @ dealership prices, same w/the interior.

do NOT return your lease car w/any extra mileage on it or pay dearly a per mile fee.

they expect you to bring them back the car exactly as you got it.

you WILL buy the best insurance you can costing you more.


it's a friggin' racket, expect them to hit you w/a fee wherever possible.

Well, I'm looking at swapalease.com right now. If you're unfamiliar, it's a site wherein you take over a lease from someone else. Often they left a ton of miles so you can drive the thing a ton with no down payment.

The dings and dents are to be expected, good point though. What I hadn't considered is the insurance side of things. Now that's an interesting point...

As others have said, dropping a ton of cash on a vehicle as a grower, well..

 

[vta]

It has been said the rich people never lease a vehicle. There is something to be learned from that if that is true. Rich people usually make the best economical moves...that's why they are rich.
But then, I'm not rich so I wouldn't know....

no...we do lease

 

[thingshappening]

hehe. I'm considering it even moreso because it's primary use will be towing. Aka, beating the hell out of the engine.

 

[thingshappening]

I just don't equate cars to the same kind of ownership as, say a home. The value of a car is dead so, so quickly, and they are still built like dogshit- all of them- relative to engineering in other "stuff" in the 21st century.

Consider this scenario. 30K vehicle, vs "sign and drive" zero down lease, 15K miles a year. I would have to keep the car for ten years factoring scheduled maintenance (not including any other unforeseen major repairs) in order to equal the price of lease payments for the vehicle. I hate driving older vehicles and have no intention to keep cars around for that long anyway.

If you're the kind of guy that prides himself on keeping old vehicles around can do the work yourself, then obviously leasing is a terrible idea. But for some, I think it's a very intelligent way to purchase cars; particularly if you view cars as a transportation expense, and not a long-term asset.

Also, the average american takes out a 48 month loan to buy a new car. So for the first four years, you don't own shit anyway. A bank does. You own it when it's already lost most of it's value. whoopy-dee-dooo.

 

[chargers123]

lease every 2 years..always stayin fresh

 

[Tronic]

swapalease.com / leasetrader.com are FANTASTIC.

Take over someone's lease that they can not afford... terms vary.. but you can get long term/short term leases all over the country.

Plus, when you turn in your car at the end of the lease they usually send you a 'ding chart' and any ding approx less than 10 inches in diameter will just be overlooked as 'wear and tear'

Trust me on this one.. a car is one of the worst 'assets' one can own. Most got it all wrong... the majority of the rich lease..... why? because they cant be bothered dealing with repairs or any of that shit. time = money

 

[In~Plain~Site]

Mid-scores in the mid 700's still required to lease.

They do pin you to the wall with increased insurance limits.

I'm fairly certain there are restrictions on commercial use, unless specified up front, for an additional fee/monthly add on.

Basic maintenance is still required on most leases(BMW and some others offer maintenance-free packages)

Why not just get a late model if it's going to be a work vehicle?

True. Cars are a depreciating asset, but when you consider they can/do make you money, the depreciation is offset some what.

I like to pay cash, but will finance an occasional good deal when needed.