Home and Auto New vehicle vs current vehicle

**DaneMcCloud** · 06-19-2015, 08:07 PM

Lease. Cars aren't an investment.

**lewdog** · 06-19-2015, 08:09 PM

Quote:

Originally Posted by DaneMcCloud

Lease. Cars aren't an investment.

For some it makes sense but only if you don't drive much. On many leases you are only allowed 10-15k miles per year. If you plan on keeping the car for a while, leasing never makes sense. If you need a new car every few years for whatever reason, it might make sense.

**BigMeatballDave** · 06-19-2015, 09:23 PM

Quote:

Originally Posted by DaneMcCloud

Lease. Cars aren't an investment.

I don't think I'd ever lease because of the mileage limits.

ThaVirus · 06-19-2015, 10:00 PM

Quote:

Originally Posted by DaneMcCloud

Lease. Cars aren't an investment.

I read a breakdown in this recently that argued it's better to buy. The equity built in buying was their main talking point.

I'm sure it depends on the person and situation.

I've only ever bought used cars cash and have been craving a car that I wouldn't have to worry about breaking down. I'm not sure I'd like making payments every month though.

cosmo20002 · 06-19-2015, 10:08 PM

Leasing is pretty much always dumb, financially.
Some will say, "Well, it's smart if you're the type who buys a new car every 2-3 years."
Yeah, ok...but buying a new car every 2-3 years is also really dumb, financially.

**Buehler445** · 06-19-2015, 10:13 PM

Quote:

Originally Posted by ThaVirus

I read a breakdown in this recently that argued it's better to buy. The equity built in buying was their main talking point.

I'm sure it depends on the person and situation.

I've only ever bought used cars cash and have been craving a car that I wouldn't have to worry about breaking down. I'm not sure I'd like making payments every month though.

You can find used vehicles that have life left. You're just not going to get them on the cheap.

ThaVirus · 06-20-2015, 12:53 AM

Quote:

Originally Posted by Buehler445

You can find used vehicles that have life left. You're just not going to get them on the cheap.

I've only ever owned used vehicles.

My first ended up being a lemon. Honda Civic that read 137,000 on the odometer. Found out a couple years later when the tranny went that it had been rolled back. The car really had 207,000 miles on it when I bought it. ****ing assholes. I was young though. That was a learning experience.

I've got an 03 Camry now. I've had it since 2010.

I'm not the type that needs a new, snazzy car to whip around. I am tired of constantly worrying about my next big repair, though. Some days I just want to say **** it and buy a new car but realize by pocketing the $2,000-3,000 down payment and $300-400 monthly payments I could pay for any major repairs pretty handily.

RedandGold · 06-20-2015, 06:12 AM

Quote:

Originally Posted by cosmo20002

Leasing is pretty much always dumb, financially.
Some will say, "Well, it's smart if you're the type who buys a new car every 2-3 years."
Yeah, ok...but buying a new car every 2-3 years is also really dumb, financially.

That pretty much sums it up!

**BigMeatballDave** · 06-20-2015, 08:29 AM

Quote:

Originally Posted by cosmo20002

Leasing is pretty much always dumb, financially.
Some will say, "Well, it's smart if you're the type who buys a new car every 2-3 years."
Yeah, ok...but buying a new car every 2-3 years is also really dumb, financially.

No, it's not. The payments are lower, in some cases, much lower than financing.

Leasing is the way to go if you don't drive a lot.

RedandGold · 06-20-2015, 04:46 PM

Quote:

Originally Posted by BigMeatballDave

No, it's not. The payments are lower, in some cases, much lower than financing.

Leasing is the way to go if you don't drive a lot.

The benefits of leasing only apply if you would otherwise trade the same financed vehicle in the same period of time (or trade immediately after a financed purchase was paid off). If you maintain that same financed vehicle five years after it's paid off, you're definitely ahead versus leasing.

Since my pattern falls into the latter category, it's difficult to justify making payments in perpetuity on a continuous string of vehicles that I don't own.

**Saulbadguy** · 06-20-2015, 02:02 PM

Quote:

Originally Posted by cosmo20002

Leasing is pretty much always dumb, financially.
Some will say, "Well, it's smart if you're the type who buys a new car every 2-3 years."
Yeah, ok...but buying a new car every 2-3 years is also really dumb, financially.

I agree, it doesn't save money in the long run over buying a vehicle and maintaining it.

I just like the fact that I never have to **** with maintaining a vehicle.

**BigMeatballDave** · 06-20-2015, 05:18 PM

Quote:

Originally Posted by Saulbadguy

I agree, it doesn't save money in the long run over buying a vehicle and maintaining it.

I just like the fact that I never have to **** with maintaining a vehicle.

This. Plus a new one every 3 years. I'd love to lease, but I couldn't deal with the mileage limits.

**mdchiefsfan** · 06-20-2015, 01:42 PM

Quote:

Originally Posted by DaneMcCloud

Lease. Cars aren't an investment.

Leasing doesn't work for me. I drive about 25,000 miles a year for my job. I would like to lease since I will probably be paying for a car the entirety of my career.

**Saulbadguy** · 06-20-2015, 02:01 PM

Quote:

Originally Posted by DaneMcCloud

Lease. Cars aren't an investment.

That's what i'm going to do for the remainder of my life.

06-19-2015, 08:07 PM	#1
DaneMcCloud Supporter Join Date: Sep 2000 Location: Hollywood, CA Casino cash: $10053648	Lease. Cars aren't an investment.
Posts: 88,960

06-19-2015, 10:08 PM	#5
cosmo20002 Debunking your bullshit Join Date: Aug 2002 Location: KC area Casino cash: $5010315	Leasing is pretty much always dumb, financially. Some will say, "Well, it's smart if you're the type who buys a new car every 2-3 years." Yeah, ok...but buying a new car every 2-3 years is also really dumb, financially.
Posts: 52,592