Why not lease?

[Statler]

I think there is a website with that name. 

not work safe.   

[Randimus Maximus]

if you are the typical car buyer who, regardless of what they say, will want a new car in about 39 months, leasing is the way to go.

payments will be lower, and you'll be able to get more car.

and the argument that you "don't own the car" doesn't really hold much water if you bury yourself on a 60, 72 or 84 month finance note either.

also, if you use a little know option called multiple security deposits, you can lower your payment further and have money at the end of the lease to either use towards the next lease, or put in your pocket.

[Bun-bun]

In my case, I wouldn't lease for a number of reasons;
I have several cars/trucks for different purposes, so none of them reach even 5000 miles a year.
I tend to keep a vehicle until it's pleading "Take me to the junkyard, I just want to die!"

I get a sense of accomplishment when the finance company sends me the title and I know it's finally all mine.

Most leases have restrictions on modifying the vehicle.

[Howie]

Think of leasing as another form of financing.  After comparing numbers then decide.  Occasionally manufacturers reduce inventory by offering cheap leases instead of offering rebates.  The dealer should have software to do the number crunching.  Do consider over mileage charges that can add up big time.  If you do choose to lease, make sure it is a factory backed lease

[DoubleEagle]

Since 1992 I've done 39 month leases.

I like to drive a new vehicle at least every 39 months or sooner.

I have yet to put any money down on my next leased vehicle.

I have leased from the same Dealership since '92.

Leased from the same Salesman since '92.

The way I look at it is I'm paying to drive a new vehicle all the time.

My current vehicle was leased new in Feb., 2008.

It has just rolled over 3,000 miles . So it is like new 18 months out.

When it comes time to get my next vehicle , I'll call the Salesman , tell him what I want , if it's not in stock , I will go sit down and we will put it together and within a month or less it will be ready to pick up and I'll just sign some papers and drive it home.

Dolph       

[DRKWNG]

it is time for a different motorcycle.   BMW and Triumph have active forums I hear.

Hey now!  Don't you go and ruin my Triumph ownership experience!   

[cyrus buelton]

Hey now!  Don't you go and ruin my Triumph ownership experience!  

I'd love to see Beck on www.t595.net

[herm]

leasing a car is like renting your living space. always paying, but never any equity in ownership.
if thats your thing (by choice or necessity) so be it. but its not ideal, and not financially sound.

as others have said, i prefer to own my car/truck/whatever. so when i wanted an f250, i went looking for a used one that i could afford to pay cash. my 99 f250 now has over 210,000 miles, and running strong. i plan to drive it into the ground.

i would guess that i average about 2k worth of repairs a year at this point, but thats a heck of a lot cheaper than 400/500 month payment. even if the worst happens, and i find myself in need of a new engine (unlikely with a powerstroke) or transmission, i am still going to come out ahead.

a much more likely scenario at this point is that the body rusts off around a perfectly good power train in the next 5-10 years. i might even have the typical rust issue areas treated and rhino lined to hold that off for a few more years, and still be way ahead cost wise.

[GAAN]

a regularly driven rig will not rust out in a few years

that 99 will last for 50 + years if you wash it wax it and change the oil

[herm]

a regularly driven rig will not rust out in a few years

that 99 will last for 50 + years if you wash it wax it and change the oil

haha.......you have never lived/owned a vehicle in the great northeast.

i do wash it regularly (more in the winter) now that i am in the northeast. thats helping, but also starting to flake off some paint.

besides, i dont want it to last that long. i just did the math....having owned the truck outright, for 9 years has saved me about 35k in payments (assuming a 500 per month payment, and subtracting what i paid for it). i wish i had been smart enough to pay myself that 500 each month into savings.....

[GAAN]

move back to medford

go work for Ericson

[herm]

move back to medford

go work for Ericson

that would only be fun if i could fly in the things

[cyrus buelton]

Leasing is HUGE where I live.

Everyone wants a big house and a fancy car.

You have a fat mortgage payment, which doesn't leave much room for a car payment.....so a leasing a BMW is much cheaper then buying one.

There is one dealer called the Toy Barn, it only leases new vehicles or sells used (doesn't have the proper license to sell new).

It is facking insane what people lease from there and the prices they pay.............

[derby]

what are you going to do with the money you "save" by leasing? are you going to invest it (make more money with it)?

i evaluate leases with the intention of buying the vehicle at the end of the lease.

i (used to) have a spreadsheet somewhere that would compute all the buy/lease options for a given vehicle (including equity at the end of the lease period) so you could evaluate them side by side.

when i bought my tacoma, i did the math and there was a negligible difference in payment between the two options. it made no sense whatsoever to lease with the given options.

conversely, a few years earlier, i was looking at the newly redesigned audi a4/s4 and the lease rates were very favorable compared to buying.

[Triple J]

^^ +1 to Derby

I think you have to look at lease/buy on an individual basis.

I've always purchased cars, but we leased my wife's Infiniti. We didn't plan on putting over 15K per year on it, which is the max allowed by the lease.

We compared the monthly payment of buying or leasing, and leasing was a couple hundred a month cheaper. We then multiplied that savings over the lease term, then looked at the remaining puchase amount at the end of the lease...then compared that to the same term for the purchase option. Given the same downpayments, the lease was a better deal financially.