NTers who lease their whips? Vol: new whip every 3 years

[utvol23]

As i understand it it is not deductible if you only use it to travel from home to work and back.

https://www.irs.gov/publications/p463/ch04.html#en_US_2016_publink100033930

 

[dacityslanga]

bump...

I dont see the problem with leasing... free maintenance, cheaper payments, new car ever 3, 3.5, or 4 years.

Some folks think that people have leases that our parents had back in the 90s. That's not the case anymore, it is more options and packages in regards to leasing.

If you already own a bucket, keep it and use that as your daily driver and use the lease as your weekend/travel car.

Living in DC Area, the roads are pure terrible, the wear and tear on the bucket would be better than on the leased whip.


But I'm an Oldhead tho...

 

[the antihype]

BUY property
LEASE cars
Too many people have that formula reversed.

 

[bendover]

The problem with leasing is that you just paid a car for 1,2,3 years and when you turn it in you have absolutely NOTHING to show for it lol

 

[tay1]

I'm not turning my car in after the lease is up. I plan on keeping it. It's a nice, reliable car.

 

[23kidd]

Leased my wrangler, but planning on buying it.

 

[capital sb]

BUY property
LEASE cars
Too many people have that formula reversed.

[emoji]128293[/emoji][emoji]128293[/emoji][emoji]128293[/emoji]

 

[polosanddunks]

The problem with leasing is that you just paid a car for 1,2,3 years and when you turn it in you have absolutely NOTHING to show for it lol

[emoji]127998[/emoji]‍. You don't get the idea of leasing then. Read up...

 

[Betonblck]

Buying or leasing expensive cars to impress people you don't know is the easiest way to keep from accumulating wealth.

 

[dwalk31]

Yea leasing just works out way better for me. Would likely never buy again. With cars like BMW/Benz, the maintenance is absurd over time. You're not saving by purchasing. I own a SAAB from a while back (maintenance is terrible). Leased a 2016 3 series BMW last year for 24 months. Payments $250/month. It will be under warranty for the entire time. Easy choice as I'd spend that on maintenance easily. Unless you're buying a car that's increasing in value yearly, I don't see the upside in buying. Plus, people are upside down on their car payments. That's silly imo.

 

[diego]

The problem with leasing is that you just paid a car for 1,2,3 years and when you turn it in you have absolutely NOTHING to show for it lol

I could go to an expensive restaurant tonight and tomorrow morning I'll have nothing to show for it.

 

[dwalk31]

Yea the nothing to show for it argument falls flat. You do have something to show for it (a reliable car for the period of the lease, and no worries about maintenance). Folks owning cars that cost them more than their payments to keep up. Not to mention, the dealer won't even buy it back from you for close to what they sold it to you a month later. I understand buying Hondas and Camrys. I have friends that buy luxury cars and complain until they just start leasing. It's an easy financial decision if you've actually bought a car in the past and had to deal with upkeep. And if something ever does go wrong I just get a courtesy car until it's fixed.

 

[$tacy]

Leasing 2 whips and own an older 2007 for a beater. I'd never buy a new car nowadays, imma just always grab a shooter in between my leases.

 

[antbanks81]

I'm definitely going with leasing for a daily driver. I'm going to incorporate and build the biz credit up. I'll likely go with two year leases so I can keep something new.

 

[utvol23]

Continual car payments are not my cup of tea.

 

[picasso swerve]

Looking to lease an Accord Sport in the near future.

Wondering if its just better to finance since it is a Honda and will last forever.

If I lease and decide to finance after how much difference would it be money wise than if I just financed from the start? Roughly of course.

 

[throwback1718]

I'm highly upset with my father.

He's a public tax accountant. He has his own business with it. Office and all...

And he also owns a side business...

I refuse to believe he doesn't know about this.

I mean he is a very simple guy. But if he can do this, why is he pushing a 97 LS400 ? (Granted the car still runs and looks good)

But still.

 

[23kidd]

Let the man drive what he wants. If it aint broke, then why even bother

 

[diego]

Looking to lease an Accord Sport in the near future.

Wondering if its just better to finance since it is a Honda and will last forever.

If I lease and decide to finance after how much difference would it be money wise than if I just financed from the start? Roughly of course.

If you think you'll eventually want to finance, just get it out the way and jump in the finance.
Leasing to then finance is such a waste of time and money IMO.

 

[utvol23]

I'm highly upset with my father.

He's a public tax accountant. He has his own business with it. Office and all...

And he also owns a side business...

I refuse to believe he doesn't know about this.

I mean he is a very simple guy. But if he can do this, why is he pushing a 97 LS400 ? (Granted the car still runs and looks good)

But still.

IMO he is doing it right. His car is serving the purpose he wants it to and he hasnt had a car payment in many years!

 

[heliumclinton]

Yea leasing just works out way better for me. Would likely never buy again. With cars like BMW/Benz, the maintenance is absurd over time. You're not saving by purchasing. I own a SAAB from a while back (maintenance is terrible). Leased a 2016 3 series BMW last year for 24 months. Payments $250/month. It will be under warranty for the entire time. Easy choice as I'd spend that on maintenance easily. Unless you're buying a car that's increasing in value yearly, I don't see the upside in buying. Plus, people are upside down on their car payments. That's silly imo.

250 for a 3 series? you put money down?

 

[dwalk31]

250 for a 3 series? you put money down?

Yea, but not a lot. I heard that if I get another lease through BMW I probably won't have to pay anything down. This was my first lease through them.

 

[23kidd]

My friend was showing me how lexus or audi commercial and it showed "lease for 300/month" but what he didnt see was the "2500 due for downpayment"


Btw, if youre leasing, theres no reason to put a downpayment, youre throwing money in trash basically.

 

[MVP]

My friend was showing me how lexus or audi commercial and it showed "lease for 300/month" but what he didnt see was the "2500 due for downpayment"


Btw, if youre leasing, theres no reason to put a downpayment, youre throwing money in trash basically.

Not necessarily if you want the lower payments. That's how they get them down to that number they show on TV. Unless they have a special sign and drive or financing promotion.

 

[dwalk31]

My friend was showing me how lexus or audi commercial and it showed "lease for 300/month" but what he didnt see was the "2500 due for downpayment"


Btw, if youre leasing, theres no reason to put a downpayment, youre throwing money in trash basically.

How much do you normally put down on a new/used car? My friend bought a 2013 Infiniti in 2013. Paid around 4500 down and his payments are still almost 600/month.