tincin
Drama Llama
Posts: 5,415
Jul 25, 2014 4:55:32 GMT
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Post by tincin on Jan 18, 2017 13:02:03 GMT
I've both leased and purchased cars. I love new cars. Depending on the mileage you need, you can prepay miles ahead of time and pay much less for them. I only Drive about 10,000 - 12,000 miles a year so that does factor in. I like leasing.
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Post by gar on Jan 18, 2017 15:28:16 GMT
All the people I've known who leased a vehicle have stated they would never lease again. I wonder if it was for various reasons or all for the same reason. It should go without saying that leasing isn't right for everyone, it does depend on your criteria and also, lets be honest, not everyone knows how to ensure they're getting a good deal and they can end up being stiffed. That's not the fault of leasing though, per se. |
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Post by tuva42 on Jan 18, 2017 16:21:33 GMT
There is not a financial advisor out there who will tell you that leasing is a good idea financially. Buy a new car, pay it off in 4 years, then keep it for another 4-6 years. You are unlikely to have significant maintenance costs in the first 4 years, and for the next 4-6 years you will have no car payments, and your maintenance costs will be no where near the cost of a lease payment. During the 4-6 years you have no car payment, put that money into a savings account. Use it for maintenance, and to buy a car when yours gets too costly to maintain.If you lease a car, you will have a lease payment every single month until you quit leasing. I agree that this can be a great plan - but there isn't much difference between continuing to set aside the equivalent of your car payment and making an actual payment each month. Either way you still "have a payment." Seriously? You'll be setting aside money FOR YOURSELF, not paying to someone else. |
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Post by bostonmama on Jan 18, 2017 16:33:49 GMT
I am currently leasing a car and I'm due to return it in September. For those that have leased before, when you go back to the same dealership do they usually give you the same offer you had before? They were offering zero down when we leased ours (we had to pay $900 for tax and licensing) and were wondering what the chances would be of us getting that same deal as I don't remember seeing it since we leased ours. We just tell them we're willing to move into a new lease at the same monthly payment we're currently paying with nothing else out of pocket. They act put out, but it's always happened  |
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Post by Darcy Collins on Jan 18, 2017 18:16:46 GMT
There is not a financial advisor out there who will tell you that leasing is a good idea financially. Buy a new car, pay it off in 4 years, then keep it for another 4-6 years. You are unlikely to have significant maintenance costs in the first 4 years, and for the next 4-6 years you will have no car payments, and your maintenance costs will be no where near the cost of a lease payment. During the 4-6 years you have no car payment, put that money into a savings account. Use it for maintenance, and to buy a car when yours gets too costly to maintain.If you lease a car, you will have a lease payment every single month until you quit leasing. Really the best financial decision is to buy a car one or two years old. The depreciation curve is so steep in those early years. Now I like a new car, so can't say that I follow that stellar advice, but my husband does. |
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