Leasing my first car.

[Bronn]

I know the difference between a lease and financing. Also the cars I want can't be paid off in 5 years. If you don't have any experience with leasing or anything to contribute then kindly take your leave. Thank you though.

 

Ahhh I think I see where we are disagreeing on concept. You were responding after I hit the reply button.

 

Sorry for offering unsolicited advice.

[Ja Rhule]

I know the difference between a lease and financing. Also the cars I want can't be paid off in 5 years. If you don't have any experience with leasing or anything to contribute then kindly take your leave. Thank you though.

 

I'm an assistant controller for a large company and I manage over 200 leased vehicles.  I honestly have no idea why u started this thread.  You have your mind set so before you signed anything, read the damn contract.

[Ja Rhule]

I'm not trying to pry or to judge, but if this is the case, (and I realize you said it wasn't debatable) it sounds like you're a very temporary car user. I still think it'd be better for you financially if you could find a cheap, reliable used car.

 

I'm not sure what kind of area you're in, but if you're taking a train to the city, are there any other public transit options that would better suit you?

 

I just feel like leasing isn't a good financial decision because all your money is getting you is a temporary use of someone else's thing.

With the amount you spend on a lease, you could easily make loan payments on a used car loan and get something with money left over that you can put towards something else.

 

Again, I'm not trying to sound judgemental or whatever, but I just personally feel like there have to be better options out there for you.

 

 

His mom probably think he will get a tax break from leased car... nope, only businesses get tax breaks from leased vehicles.

[Dex]

I'm not trying to pry or to judge, but if this is the case, (and I realize you said it wasn't debatable) it sounds like you're a very temporary car user. I still think it'd be better for you financially if you could find a cheap, reliable used car.

I'm not sure what kind of area you're in, but if you're taking a train to the city, are there any other public transit options that would better suit you?

I just feel like leasing isn't a good financial decision because all your money is getting you is a temporary use of someone else's thing.

With the amount you spend on a lease, you could easily make loan payments on a used car loan and get something with money left over that you can put towards something else.

Again, I'm not trying to sound judgemental or whatever, but I just personally feel like there have to be better options out there for you.

Appreciate the feedback. However I personally like the idea of getting a new car every 3 years. I don't feel like paying off a car I really don't even want for 5-7 years. Leasing is also cheaper monthly payments.

[Brooklyn Bully]

Why lease?

I always figured there were too many catches in the contract and you're just borrowing someone else's property for a while.

 

Because people don't want to be stuck with the same car for a long period of time? Some people like driving something new every 2-3 years. If you can afford it, leasing is hands down the better thing to do.

 

That said, take care of it. Maintain it, keep it clean inside and out, don't race it, don't add mods, and plan your mileage. That way when you turn it in, they will have less ways to try and fine you.

[Dex]

Because people don't want to be stuck with the same car for a long period of time? Some people like driving something new every 2-3 years. If you can afford it, leasing is hands down the better thing to do.

That said, take care of it. Maintain it, keep it clean inside and out, don't race it, don't add mods, and plan your mileage. That way when you turn it in, they will have less ways to try and fine you.

I like this guy. This is why I'm leasing some people just don't get it.

[Ja Rhule]

Appreciate the feedback. However I personally like the idea of getting a new car every 3 years. I don't feel like paying off a car I really don't even want for 5-7 years. Leasing is also cheaper monthly payments.

 

It's cheaper because it's a rent...

 

You lease a car that worth $25k for $250 a month for 3 years.  When you gonna return that car in 3 years... It will have 36k miles and you paid $9k.  You give that car back and get a new one.  Car company takes your vehicle and resales it for about $21k.  Making $5k profit from you.  Profit on top of profit. 

 

You buy a car for for 25k and you pay $417k for 5 years.  Your car has 60k and 5 years, your car worth about $16k.  You can sell your car in 5 years and buy a new car for $25k but this time you have to pay $9k over 5 years or $150 a month.  This is true going forward.  You can pay it off in 3 years by paying $250 a month.  Magic eh?

[Ja Rhule]

I like this guy. This is why I'm leasing some people just don't get it.

 

Because it's not cost effective.  If you got money to throw away, go ahead.

 

Dealerships love leasing cars to people.

[Dex]

Because it's not cost effective. If you got money to throw away, go ahead.

Dealerships love leasing cars to people.

Like I said in my previous post I personally like getting a new car every 3 years. I'm not trashing buying a car because it does make more sense finqcially. What pisses me off is you coming into my thread and essentially calling me an idiot for wanting to lease.

[The_Light_Brigade]

You asked for advice and he's giving it to you.  

[Dex]

You asked for advice and he's giving it to you.

Advice when i go to lease. Hes telling me to buy...

[Ja Rhule]

Like I said in my previous post I personally like getting a new car every 3 years. I'm not trashing buying a car because it does make more sense finqcially. What pisses me off is you coming into my thread and essentially calling me an idiot for wanting to lease.

 

I'm try to save you some money but if you determined to lease, more power to you.  My wallet is not getting hit in any way.

 

I got some good friends that got completely burned by leased vehicles.  It's a lot of restrictions to follow and it's a long 3 year contract. 

[Ja Rhule]

Advice when i go to lease. Hes telling me to buy...

 

There is no advice for leased vehicle.  You follow the contract... that's it, they tell you advices how to avoid penalties and extra fees.

[Dex]

There is no advice for leased vehicle. You follow the contract... that's it, they tell you advices how to avoid penalties and extra fees.

Negotiating and stuff.