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you dont actually OWN the car when your financing a car either.. the Bank does.
NTers who lease their whips? Vol: new whip every 3 years
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imo, i think leasing is a great deal, especially with the value of used cars going up.. a lot of times your car can be worth 1-2k more then the residual and you can just flip it and cash it out towards your next lease..
if your going to drive alot and want dont really care for having a new car, then buying is probably best..
BUT if you like to have a new car ever 3-5 years then get a lease..
if your going to drive alot and want dont really care for having a new car, then buying is probably best..
BUT if you like to have a new car ever 3-5 years then get a lease..
fontaine
Banned
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if you have the money for it.
What's wrong with buying the car if you have the money?
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and after you pay off the car your still losing money on the car.. its still an asset you own that is losing value..
one lesson I learned from a financial advisor was Never OWN a depreciating asset
If that's your financial advisor's justification for leasing, you have a horrible advisor.
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why?
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ok.
so when you buy that vehicle and the warranty expires, and you want another vehicle.....then what?
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Who cares if you don't own it. Leasing you're basically paying the depreciation of the car. If you owned the car is turned around and sold it 3-5 years down the road, you still paid depreciation lol
that 9/10 dont walk away....
WRONG
where did you get that number from
I mean it really just depends on the brand I bet. I would say 75% of our customers get into a newer model year when their lease term is up
i thought you meant do not walk away from th car they leased and end up buying it
In my eyes, walking away is turning the car in and wiping your hands clean. Guess I assumed that you were saying that 90% end up financing/buy outright the car they leased.
Because nearly everything depreciates except for maybe real estate and investments. However that doesn't mean that leasing/renting is the better decision.
Its more important to evaluate the depreciation curve than just simply the fact that an asset is depreciating when making the decision on whether to lease vs buy. Depreciation costs, repair and maintenance costs are all things that need to be factored into the decision.
Furthermore, I would not expect a knowledgeable financial advisor to be making such silly blanket statements.
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One, you have no idea what your talking about
Two, you act like everyone in here is leasing some kind of crazy whip which they aren't
And three, if you can't afford a high end vehicle but you are leasing you still gotta pay A LOT to lease it. Go check what you gotta pay a month and the money down and that's if you have tier 1 credit
Ain't no one leasing exotic/high end whips without bread
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Why can't some people accept that by the time you finish paying off that car...I don't want that 5 year old piece of ****.
**** your dirty leather seats, and outdated navigation system.
I'm just tryna stunt on these ****.
**** your dirty leather seats, and outdated navigation system.
I'm just tryna stunt on these ****.
urbetterthenme
Banned
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lol sad. Car is to take u from point a to b. Yall gone be broke boys with that mind set.
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this was strictly about cars.. and the cars dont have a depreciation curve, its a straight line down.. lol
obviously most things depreciate, but im not looking to sell my sofa or flat screen tv anytime soon.. I would however sell a car every 3-5 years.
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some people actually like to have a nice a car and can Afford it.. there is nothing wrong with that
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I would ask him what his bank account looks like personally if he's giving out that kind of advice. By that logic, does he only pay cash for assets that increase in value, or are those ones you should leverage too?
Just to be clear, EVERYTHING you own is going down in value to some extent unless you have a limited edition collection, or own real estate.
In this debate, there's clearly 2 camps. Those who think you should buy and hold a vehicle until it's actually not usable, and those who want to lease/finance a car because they think something older than 3-5 years isn't good quality anymore. One is justifying their argument with math and the other by emotion/safety. Either way, it's hard to bridge the gap between two parties with diametrically opposed views.
fontaine
Banned
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and i ain't even mad, pleighboiee.
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Y'all going back and forth with someone who can't afford to lease or finance, let him rock
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Stay out my pockets, boi.
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Owning a car for 3-5 years and reselling it after is almost equivalent to leasing
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ahhh, someone with a brain.
so if owning a car and selling it 3-5 years later is equivalent to leasing it you may as well what?
LEASE for a lower payment.
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there's pros and cons of both. a great example of buying a car benefiting you:
my dad bought a 2000 honda civic brand new in 2000, paid it off in 4 years (2004)
car still runs amazing at 200,000 miles and has another 100,000 miles (probably )left on it bc he knows how to take car of his car.
NO CAR PAYMENT for 10 YEARS while actually having a great reliable car is a good feeling y'all. and for the fact that still still runs great is a bonus. when i started driving i threw HIDs, tints, sub woofer and I was chillin. bagged a few yambs in that whip.
no financial struggles dealing with a payment. 
i just financed a 2014 Civic fully loaded in January. should have it paid even earlier than four years. to know that i'm gonna be car payment free soon for more than 10 years is a good feel.
but if you finance a car that isnt reliable and will break down in a few years, then your crap outta luck.
so it depends on what car youre looking for. it's also a really important factor into leasing or financing. if cats wanna floss in something luxurious and got the money, go for it. just make sure your making smart choices with the money you have.
my dad bought a 2000 honda civic brand new in 2000, paid it off in 4 years (2004)
car still runs amazing at 200,000 miles and has another 100,000 miles (probably )left on it bc he knows how to take car of his car.
NO CAR PAYMENT for 10 YEARS while actually having a great reliable car is a good feeling y'all. and for the fact that still still runs great is a bonus. when i started driving i threw HIDs, tints, sub woofer and I was chillin. bagged a few yambs in that whip.
no financial struggles dealing with a payment. i just financed a 2014 Civic fully loaded in January. should have it paid even earlier than four years. to know that i'm gonna be car payment free soon for more than 10 years is a good feel.
but if you finance a car that isnt reliable and will break down in a few years, then your crap outta luck.
so it depends on what car youre looking for. it's also a really important factor into leasing or financing. if cats wanna floss in something luxurious and got the money, go for it. just make sure your making smart choices with the money you have.
joepac12
Banned
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How does trading in a car that you still owe money on work for a newer version of the same car?
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depends on how much money you owe on the car.. if you owe more then its worth, then they roll that into your new car loan.. if its less.. they pay the car loan off and take whatever extra and put it down on the car.
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he is a finacial advisor and manages hedge funds.. graduated from harvard so, id say he is pretty smart dude.
he is referring to things you would consider an asset, like a car.. a couch, or a tv isnt really an asset., its something you buy and plan to use without changing out every 3-5 years.. plus they dont have near the cost of a car or depreciate as much as a car.. i know my car has depreciated at least 15k in the last 3 years.
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