\\ Post Your Car vol. Been a minute //

[m boiz]

Well overall a car investment is horrible whether you buy it or lease it, it's still a waste of money.

For the most part cars aren't investments though, unless it has some collectibility to it then its not going to go up in value over time.

Not sure how buying is a waste of money, unless you specifically mean financing then I would somewhat agree because of course it would be nice to not have a car payment, but I would say a very large percent of people have one. But with rates as low as they are you would be dumb to not take some of these deals out there if you have the credit and income to be able to purchase. My boss always says its better to borrow someone else's money than use your own, i.e. if a bank is willing to finance you at anything under say 5% do it.

 

[MakeNTGreatAgain]

How is a lease a better deal? You have no equity after the term is finished

 

[SupremeBeing5]

How is a lease a better deal? You have no equity after the term is finished

Que?

 

[finessesosa]

Stay away. Way too many cars out there to buy one with a branded title. No one will touch it if you ever try to resale or trade it in, also I think some insurance companies won't give full coverage on one.

Huh. you spitting out wrong information bro. A lot of the top Insurance companies will give you full coverage and on top of that a lot of people will buy that "branded" title. Only thing bruh can do is go get it checked out.

As far as the leasing information you said id say go into the leasing thread and discuss. You being a salesman is not a good look with that wrong information your spitting out.

 

[23kidd]

 

[slicknick951]

I know people who like to change their car every 2-3 years. I would assume they are better off leasing than rolling over negative equity into the next car. Like the guy on NT with the 60k Kia

 

[m boiz]

Huh. you spitting out wrong information bro. A lot of the top Insurance companies will give you full coverage and on top of that a lot of people will buy that "branded" title. Only thing bruh can do is go get it checked out.

As far as the leasing information you said id say go into the leasing thread and discuss. You being a salesman is not a good look with that wrong information your spitting out.

Why would you buy a branded title car when there are plenty out there that have clean titles? I don't know any dealership that touches salvage and branded titled cars, it may be different in your area. I know a lot of banks won't even loan on one. By all means if you want to go buy salvage title cars be my guest, have fun with those problems.

Im not a salesman but I'm not spitting any wrong information out, leasing a car will never be more financially smart then buying one, period.

 

[plansb]

You have no idea what you are talking about (re: leasing), that much is obvious.

 

[m boiz]

You have no idea what you are talking about (re: leasing), that much is obvious.

Thats what like 3 of you are saying yet you don't provide any examples of how leasing is better

I get it, dude likes to get a new car every 3 years and doesn't put a lot of miles on them, cool that makes sense for him but it still doesn't mean he's not just throwing money away to basically rent the car.

I wouldn't take anyones advice on here about finances honestly, its a ******* shoe forum

 

[getyashinebox]

Buy car for $50K, sell it 4 years later for $30K. You paid $20K for 4 years of use.

Lease same car for 4 year term, $400/mo. You paid $19,200 for 4 years of use.

Lease cost you less in this example (random numbers to keep the math simple).

Decision relies on additional factors of course. Also it seems this thread isn't the best outlet to discuss finance concepts

 

[MakeNTGreatAgain]

Buy car for $50K, sell it 4 years later for $30K. You paid $20K for 4 years of use.

Lease same car for 4 year term, $400/mo. You paid $19,200 for 4 years of use.

Lease cost you less in this example (random numbers to keep the math simple).

Decision relies on additional factors of course. Also it seems this thread isn't the best outlet to discuss finance concepts

How does leasing cost less?
After four years according to your example u sell one for 30k while the lease u return back to the dealership. So at the end of the day u have 30k in ur pocket compared to 0 with the lease.

 

[m boiz]

Buy car for $50K, sell it 4 years later for $30K. You paid $20K for 4 years of use.

Lease same car for 4 year term, $400/mo. You paid $19,200 for 4 years of use.

Lease cost you less in this example (random numbers to keep the math simple).

Decision relies on additional factors of course. Also it seems this thread isn't the best outlet to discuss finance concepts

I just talked to my boss and he said he has came out on top of a lease before but we agreed if the rates as as low as they are right now that it wouldn't make sense to lease over finance.

Your example makes sense mathematically but you still don't own the car after those 4 years if you lease it, the goal for majority of people is to own it and not have a car payment anymore, with leasing its just a never ending cycle of payments.

 

[bwood056]

It only took what, 3 posts for you to come out? Never change man, never change.

I can say it till I'm blue in the face but no one who gives good advice would suggest leasing cars over and over again, you should agree with that Mr homeowner.

Congrats on the baby by the way.

If you're trying to compare owning a home to owning a car - you're more delusional than I originally had thought.

 

[getyashinebox]

How does leasing cost less?
After four years according to your example u sell one for 30k while the lease u return back to the dealership. So at the end of the day u have 30k in ur pocket compared to 0 with the lease.

Srsly? My example shows buying cost $800 more than leasing...

 

[bwood056]

Zero down leases >

All relative tho.

 

[m boiz]

If you're trying to compare owning a home to owning a car - you're more delusional than I originally had thought.

All you do is throw shade at me and don't really provide any context.

Wish you'd grow a pair and tell me what I did to upset you so bad but we both know that won't happen.

Lease or buy its your money do as you please. I'll never cosign buying salvage cars though best thing I've heard all week.

 

[slicknick951]

Buy car for $50K, sell it 4 years later for $30K. You paid $20K for 4 years of use.

Lease same car for 4 year term, $400/mo. You paid $19,200 for 4 years of use.

Lease cost you less in this example (random numbers to keep the math simple).

Decision relies on additional factors of course. Also it seems this thread isn't the best outlet to discuss finance concepts

And that's if you only had a 4 year term. Most people financing take the 60+ which leaves them with a balance they are either carrying over or taking off their payout when they sell.

According to Edmunds

In 2014, 62 percent of the auto loans were for terms over 60 months. And nearly 20 percent of the loans were for 73- to 84-month terms

 

[23kidd]

Jeez yall two should get a room already.

One cant say "lease is bad" all together. Like its been stated, it all depends on the person.

A company asked my dad to work for them for 3 years, to help them, and they got him a leased car for the 3 years which was a perk for working with them.
Only advise ill give for leasing is never to put down a "down payment" for the car, thats just a waste of money right there


Im leasing the jeep i posted, im content with it.

 

[slicknick951]

How does leasing cost less?
After four years according to your example u sell one for 30k while the lease u return back to the dealership. So at the end of the day u have 30k in ur pocket compared to 0 with the lease.

You have 30k In your pocket but it cost you 50k to have the car.

That's why u spent 20k after all is said and done

 

[davizzy]

If you advise not to put a deposit down then how do you get a lower monthly payment ? Excuse my ignorance since I am not too familiar on leases and am considering one in the near future

 

[23kidd]

If you advise not to put a deposit down then how do you get a lower monthly payment ? Excuse my ignorance since I am not too familiar on leases and am considering one in the near future

Refinance.

It all depends on residual value. Also Credit score really helps woth lease as well

 

[slicknick951]

If you advise not to put a deposit down then how do you get a lower monthly payment ? Excuse my ignorance since I am not too familiar on leases and am considering one in the near future

I've never leased so I'm not sure if the down payment makes much of a difference to your interest paid but either way you paying now or later.

4k down just means they take 4k off the price.

So you pay 4k over 4 years or drop the price 4k so you pay less each month for 4 years. Some people would rather put the down payment into something else rather than a car.

 

[m boiz]

Yeah if they're willing finance the entire amount at a good rate and its a comfortable payment for you then I wouldn't put anything down.

 

[slicknick951]

For those that have leased or know what portions are negotiable?
Residual value?
Rate?
or just the price?

 

[MakeNTGreatAgain]

Im looking at buying another whip.
I want a V8 dont care about ****** too much and a budget of 20k or less, maybe 25k if the car is really that good.

What would yall recommend?