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[blastercombo]

you cant lease if you dont have good credit in the first place.

leasing is not intended for folks with average credit.

when you buy a vehicle, it depreciates when you drive off the lot anyway. so whats the difference?

im not going to drive a honda today that i bought from 1995. i'd prefer to never drive anything less than 4-5 years old anyway.

look at it this way:

you are interested in a 30k vehicle.

you purchase it. you make 3 years of payments, lets say its worth about 20 grand.

for leasing, you made about 10k worth of payments in 3 years. car is also worth about 20 grand.

its the same thing. plus, if you REALLY like the car you leased, you can choose to purchase it at the end of your term.

but now instead of worrying about your warranty running out and fixing it, you get the newer body style and a brand new car again.

The value you're talking about is resell value. When you're using the vehicle the TRUE value is the use. You can still us a car at any age as long as it works. The difference is you will pay off a car you own it and the payments stop. You lease and you lease for life. The "cost" is not the same

Now the "I like a new car all the time" deal is a matter of taste I guess.

 

[friscosfinest]

Don't you have to put a large deposit down every time you lease a car though? I always see commercials saying $2,999 due at signing and on top of that don't you have to pay money at the end of your lease too? You're essentially paying for the depreciation anyway. I think it would be smarter to get a year old car, put a large down payment once and then sell it after 2-3 years. If you continued doing this you wouldn't have to keep coming out of pocket 3 grand up front because the car you're trading in would have positive equity and you would always have low monthly payments depending on how much you initially put down.

the more you put down, the less your payments are.

there are options for putting 0 down for leasing, called a "sign and drive"

ususally you just have to pay your first payment upfront.

and at the end, its about a 600 dollar turn-in fee.

smarter to get a pre-owned? its subjective. someone that has money is paying for what they like, they arent trying to avoid depreciation. many people wont even TOUCH a used car.

 

[stillin729]

$385 a month for insurance :x

 

[friscosfinest]

The value you're talking about is resell value. When you're using the vehicle the TRUE value is the use. You can still us a car at any age as long as it works. The difference is you will pay off a car you own it and the payments stop. You lease and you lease for life. The "cost" is not the same

Now the "I like a new car all the time" deal is a matter of taste I guess.

the "cost" is not just monthly payments, but maintenance and service/repairs as well.

you're not hands free after you paid your last payment

 

[stay lurkin]

That premium. Damn OP

 

[blastercombo]

the "cost" is not just monthly payments, but maintenance and service/repairs as well.

you're not hands free after you paid your last payment

Yes but you're ALWAYS paying when you lease

 

[capital sb]

Yes but you're ALWAYS paying when you lease

Exactly that is the difference. If I started leasing at my current age and leased for the next 35 years that would be 210K dollars of continuous payments ($500/mo) spent on 12 cars that I never owned. That is a lot of money any way you look at it.

 

[johnnyredstorm]

but who keeps a car for 10 years?!?

my car is about to be 8 years, old, runs beautifully, looks perfect, hasn't needed any work done on it but i guess I'm losing since i bought it instead of leasing it and being on my 2nd whip by now. please man. buy 1 good car, treat it well and it'll last 20 years. **** outta here needing status symbols/new cars every few years. got better **** to do with my money.

 

[yanky]

$2600 for 6 months on a Honda?

RIP

This how many tickets you got? Sheesh

 

[diego]

If you would've financed for the next 35 years how many cars would you have had in that same time period?

You one of those cats that keeps a car for 30 years?

 

[jewseejay]

how is leasing better than buying a car? you buy a car once, pay it in 5 years, it'll potentially last you 10-30 years, you lease, you're continually making car payments for an eternity.

Eternal car payments mean forever whilping summin u like.

Having a car paid off means no payments sure but its still a depreciating "asset"

I was less than 2 years from my owning my G when i traded it. Will prob never own another automobile i dont inheret. Fully anyway. Doesnt make sense to me.

If i was a wrench head then sure id pay something off n flourish payment free but as it stands. 320 a month to have a vehicle thats new n i like is so worth it

 

[dathbgboy]

Check your state law. Some have clauses that allow u to void the contract within a certain amount of time

 

[bravelude]

Automobile questions always come up, but no one really understands the moving parts behind it.  While each and everyone's financial situation is different, so are their needs.  The hype about a 'new' car goes out the door with time.  After racking up the mileage, the thrill just goes out the door.  Like many individuals, people want a car that's reliable and hassle free.

My car is about 10+ years old, bubble in tint, paint color fading, scuffs in the upholstery, etc.  But it's still smoothe and runs good and I hope it will continue to last me a few more years before major parts start to fail.  When it costs me more to fix, then I'll look to buy a new one.

I wouldn't recommend buying a 2nd hand.  There's just too much risk involved, but if you can't afford it consider it.  You don't want to be buying someone else's problem.  Depending on where you are financially and where you want to be, you have to compromise and make sound financial decision.  Vanity costs money, but it doesn't necessarily go far.

I would rather own my vehicle and pass it off to my kids though.

 

[capital sb]

If you would've financed for the next 35 years how many cars would you have had in that same time period?

You one of those cats that keeps a car for 30 years?

Lol who keeps a car for 30 years? 15 years max for commuter cars , so about 2. I have had my current car for 8 years has been payed off for 3 years. No major repairs only basic maintenance.

I would probably hold a used luxury car for 3-5years, but I'm leaning towards leasing luxury.

 

[kickhead23]

There was no consideration here OP so you are not legally bound. I would spend that 10k on a lawyer to clear up them vehicular homicide charges tbh.

 

[xbiker47]

$385 a month for insurance :x

:x

More then my monthly finance payment

 

[friscosfinest]

Yes but you're ALWAYS paying when you lease

Ok? You're also ALWAYS driving something new and ALWAYS have a warranty. Whats your point? No unexpected repairs is a little underrated dont you think?

 
Exactly that is the difference. If I started leasing at my current age and leased for the next 35 years that would be 210K dollars of continuous payments ($500/mo) spent on 12 cars that I never owned. That is a lot of money any way you look at it.

You also wont keep 1 car for 35 years. If you cant spare 210K for 35 years, then youre doing something wrong.

 

[blastercombo]

Unexpected repairs, ok, but again you're always paying when you lease. 35 years spending 210k on a monthly payment. With that much money you didn't need to only have 1 car that entire time. I could have 4 cars and keep the change leftover. I could have a new car with that money and have 3 "old" cars that are also mine.

Talking about depreciation, when you lease you own nothing. Nothing's depreciating because it's not yours. You just pay like you do

 

[biggie62]

Ok? You're also ALWAYS driving something new and ALWAYS have a warranty. Whats your point? No unexpected repairs is a little underrated dont you think?



You also wont keep 1 car for 35 years. If you cant spare 210K for 35 years, then youre doing something wrong.

Not but if you keep the car for lets say 10 years and then sell it still for 3-4k you actually come out on top. If you leased the entire 10 years at lets say 350 + down every 3 years thats. ~1500*4 + 350*120) = 48,000 for roughly a $30,000 car over 10 years. Sure you are in warranty, but you won't get crushed by repairs either if you take care of your car and don't buy German.l

The car will be outdated by the end but you won't have to hold full coverage once you pay off the finance. It's really different strokes for different folks. If you plan to hold a car for 5 years max then sure financing doesn't make sense. But if you hold it for over 8 years it does make sense to finance over lease.

 

[johnnyredstorm]

Unexpected repairs, ok, but again you're always paying when you lease. 35 years spending 210k on a monthly payment. With that much money you didn't need to only have 1 car that entire time. I could have 4 cars and keep the change leftover. I could have a new car with that money and have 3 "old" cars that are also mine.

couldve spent that money on a house.

 

[nawghtyhare]

Why can't u ask ur parents to Put the insurance in ur mom or dads name

 

[riverdale road]

Has he answered why his premium so high?

 

[af1nike]

So OP ain't gonna explain his awful driving record?

 

[capital sb]

Ok? You're also ALWAYS driving something new and ALWAYS have a warranty. Whats your point? No unexpected repairs is a little underrated dont you think?



You also wont keep 1 car for 35 years. If you cant spare 210K for 35 years, then youre doing something wrong.

of course I can. See I'd rather save or invest that money then waste it to have a new car every 3 years. I don't have a wasteful mindset like most people.

 

[johnnyredstorm]

spare 210k for 35 years on vehicles, or put that 210k toward a mortgage to own a home that i can live in or rent and profit off of....hmmmmmm