- 273
- 57
I was always against the idea of leasing until I finally decided to lease this time around.
I've had 3 purchased cars and every single one of them was a huge hit in terms of depreciation.
Certain cars it makes sense to buy and if you drive your cars at least 8-10 years, then maybe you'll get your money's worth but for me having switched out every 2-3 years, I took a hit each time. Not only did I take a hit in terms of car value, I also ran into issues with maintenance on some of the cars I had purchased and the maintenance was starting to cost 1000+ at times.
The reason I chose to lease my current car is because the lease deal was too good of a deal and it made absolutely no sense to buy the car. In a 2 year lease term, I'm paying 13,650 with all taxes etc included on a 60k MSRP car for 15k miles a year. After 2 years, I'm going to throw this car back to the dealership without having to worry about depreciation. If I had purchased this car, I'm sure the car would see a 20k+ depreciation in 2 years which would mean I would have been taking a hit again.
There are lease deals that make sense and some that don't. The CLA45 AMG that I was looking at made absolute no sense to lease as the MSRP was in the 56k mark for the car I wanted yet they wanted 1000+/- a month with a huge down payment. The Porsche Macan was the same way where the car came out to 58k, wanted 5000 down and somewhere in the 700's a month.
Working in the auto industry has been interesting as I've been able to see from others in the industry what cars are good for leasing and not but I definitely have become a supporter of leasing as there are some insane deals out there. I really don't understand those people that say leasing is for people who are trying to stunt with no money. It's called being smart with your money and finding out how to get the car you want for the best possible price.
I've had 3 purchased cars and every single one of them was a huge hit in terms of depreciation.
Certain cars it makes sense to buy and if you drive your cars at least 8-10 years, then maybe you'll get your money's worth but for me having switched out every 2-3 years, I took a hit each time. Not only did I take a hit in terms of car value, I also ran into issues with maintenance on some of the cars I had purchased and the maintenance was starting to cost 1000+ at times.
The reason I chose to lease my current car is because the lease deal was too good of a deal and it made absolutely no sense to buy the car. In a 2 year lease term, I'm paying 13,650 with all taxes etc included on a 60k MSRP car for 15k miles a year. After 2 years, I'm going to throw this car back to the dealership without having to worry about depreciation. If I had purchased this car, I'm sure the car would see a 20k+ depreciation in 2 years which would mean I would have been taking a hit again.
There are lease deals that make sense and some that don't. The CLA45 AMG that I was looking at made absolute no sense to lease as the MSRP was in the 56k mark for the car I wanted yet they wanted 1000+/- a month with a huge down payment. The Porsche Macan was the same way where the car came out to 58k, wanted 5000 down and somewhere in the 700's a month.
Working in the auto industry has been interesting as I've been able to see from others in the industry what cars are good for leasing and not but I definitely have become a supporter of leasing as there are some insane deals out there. I really don't understand those people that say leasing is for people who are trying to stunt with no money. It's called being smart with your money and finding out how to get the car you want for the best possible price.
