For those against Auto Leasing, can you give me your reasons why?

[al audi]

thanks in advance

 

[mmg]

The car is never really yours and insurance is pretty high, plus you get a
Certain amount of mileage , if you go over they can take the car back or beat you over the head for more money.

 

[tero]

if that @+!@ breaks your !@***%

 

[4wrestling]

Pros and cons either way.
For me personally, I chose to buy because I put so few miles on my car (3400 in 10 months).  I know my car will have a high resale value between the model and low mileage, so buying was the option for me.  If I chose to lease, the lowest mileage option was 10k/yr which means I would be paying for 5-6k miles a year that I wouldn't be using.

If I knew I was going to be putting 10-15k miles/yr on the car, I probably would have leased so I would be able to get something new in 3-4 years.

 

[al audi]

Originally Posted by 4wrestling

Pros and cons either way.
For me personally, I chose to buy because I put so few miles on my car (3400 in 10 months).  I know my car will have a high resale value between the model and low mileage, so buying was the option for me.  If I chose to lease, the lowest mileage option was 10k/yr which means I would be paying for 5-6k miles a year that I wouldn't be using.

If I knew I was going to be putting 10-15k miles/yr on the car, I probably would have leased so I would be able to get something new in 3-4 years.

im one of those people who drive 10-15k a year easy.

 

[al audi]

Originally Posted by Nowitzness41

Originally Posted by MMG

The car is never really yours and insurance is pretty high, plus you get a
Certain amount of mileage , if you go over they can take the car back or beat you over the head for more money.

This, and I've seen my mom and a friend get taken advantage of financially, even screwed up my moms credit

how??
ya got educate yourself first....

 

[pworld10]

IMO if its a car i know i do not want to keep (will want the next new thing), and i can use it for work (i work in the aftermarket auto industry, and can write it off under business), or its a more expensive car (unless its a limited model, it will depreciate like hell once u drive it off the lot. i.e. mercedes) I would lease. I am currently in my first lease ever, and love the peace of mind i have that in 3 years i can get something new and fresh, and i don't have to worry about the longevity of what i have now. I drive it i do not baby it.

Only time i will buy if its certified pre-owned. That way I let the person who bought it new off the late take the biggest depreciation hit. Their loss, not mines. Or if its under 10k of course.

 

[returnbama]

1000 post -

I want a new car, but most models I want, I am afraid they will be redesigned pretty soon after purchase, and I would be pissed. So, I was going to maybe lease for a couple years, then buy. Thoughts?? Or suggestions on new cars to buy? 30k or so..

 

[big1236]

isn't leasing a car basically just throwing money away?

 

[seasoned vet]

Originally Posted by Nowitzness41

Originally Posted by Al Audi

Originally Posted by Nowitzness41


This, and I've seen my mom and a friend get taken advantage of financially, even screwed up my moms credit

how??
ya got educate yourself first....

she was short after losing her job, and missed a payment- had to turn in the car, and i believe since she didnt complete the 4 year lease note so it jacked up the credit. Ya, she was a little naive about it- but still, i aint leasing any cars

 
 
....its amazing to me how people break a financial contracts and call it being taken advantage of. happens far too often. 
 
 
 

Originally Posted by MMG

The car is never really yours,
plus you get a certain amount of mileage.

 
...these types of responses about leasing make no sense.
 
 
...i mean, the object of leasing is to not own it in the first place, meaning you dont want it to be 'really yours' anyway.
 
....and the mileage thing? most often they sell mileage packages. usually what you see advertised is their lowest mileage package. you can sign up for however many miles you think you'll drive in that time period.
 
 


   
  

 

[k2theablam]

I drive a lot, so for me... a mileage limit is out of the question. 12k a year isn't going last me 9 months so I can't have that restriction. Additionally, with the money I'm using to lease a car, I can be purchasing a car and have something of value at the end and not go through the entire leasing process all over again. I hate making car payments in the first place, so to have a lease payment that will show no value for me at the end is asinine.

A few facts about me though...

I don't care about having the hottest car, never have. I just need something reliable, decent gas mileage and with enough step to change lanes without blowing a gasket.

I drive a lot... like 18 -20,000 miles a year.

Hate making car payments

I drive a 2008 Honda Accord (bought it new when it came out), do the oil changes myself and get it checked up when I need to.
I'm not saying leasing is a bad thing, though... so don't get me wrong. It's just not for me and my lifestyle. 

 

[airthompson]

If you dont drive too far, and want free maintenance then leasing is for you, but your paying for a good amount of a car your not keeping.

 

[al audi]

Originally Posted by pworld10

IMO if its a car i know i do not want to keep (will want the next new thing), and i can use it for work (i work in the aftermarket auto industry, and can write it off under business), or its a more expensive car (unless its a limited model, it will depreciate like hell once u drive it off the lot. i.e. mercedes) I would lease. I am currently in my first lease ever, and love the peace of mind i have that in 3 years i can get something new and fresh, and i don't have to worry about the longevity of what i have now. I drive it i do not baby it.

Only time i will buy if its certified pre-owned. That way I let the person who bought it new off the late take the biggest depreciation hit. Their loss, not mines. Or if its under 10k of course.

all your maintenance is covered too? 

 

[al audi]

Originally Posted by K2theAblaM

I drive a lot, so for me... a mileage limit is out of the question. 12k a year isn't going last me 9 months so I can't have that restriction. Additionally, with the money I'm using to lease a car, I can be purchasing a car and have something of value at the end and not go through the entire leasing process all over again. I hate making car payments in the first place, so to have a lease payment that will show no value for me at the end is asinine.

A few facts about me though...

I don't care about having the hottest car, never have. I just need something reliable, decent gas mileage and with enough step to change lanes without blowing a gasket.

I drive a lot... like 18 -20,000 miles a year.

Hate making car payments

I drive a 2008 Honda Accord (bought it new when it came out), do the oil changes myself and get it checked up when I need to.
I'm not saying leasing is a bad thing, though... so don't get me wrong. It's just not for me and my lifestyle. 

damn, how many miles are you currently at?
i thought i drove a lot........i assume you plan on keeping this car a while....no? 

my thing is, seems when ppl get real high in miles or done payin off a car they usually wanna try an sell or trade in anyways so the whole car payment thing starts over, an with the miles youre runnin, the value is going down  lots, even for a honda

lease, i can get the mileage i need, maintenance done, then re up when im done.

 

[rfx45]

Originally Posted by Nowitzness41

Originally Posted by Al Audi

Originally Posted by Nowitzness41


This, and I've seen my mom and a friend get taken advantage of financially, even screwed up my moms credit

how??
ya got educate yourself first....

she was short after losing her job, and missed a payment- had to turn in the car, and i believe since she didnt complete the 4 year lease note so it jacked up the credit. Ya, she was a little naive about it- but still, i aint leasing any cars

If she financed the car (I'm going to assume most will finance when buying a car and not pay cash because not many has enough cash to buy a new car) and lost her job, wouldn't she still be in an even bigger debt? I mean if you miss your payments on a financed car it'll mess up your credit anyways, especially if the car gets impounded and your mom would have paid more monthly and have absolutely no car to show for.

 

[venom lyrix]

I've been driving since I was 17.

I'm getting my 3rd car next week (First was Honda Accord 06, Next was Mazda 6 09, now '12 Ford Edge)

I've leased all of them.

A. It allows variety and a change of car every 36 months, which is great because it's always nice to get a new car and switch things up.
B. Maintenance has been minimal, aside from one major accident I got into in the rain, but insurance covered it.
C. Only having to pay 5-8K in that time and then changing the car has it's value instead of paying 22-30K for a car and being stuck with it.
D. I take the train to work, and my long trips to AC, or other states out of NY are the only ones I make, so 10.5-12K miles is fine for me.

I haven't found an issue with it yet, I enjoy leasing. Maybe if I really fall in love with a car I'd consider buying it, but until I decide to reach into the luxury department of cars, I won't be doing that.

 

[seasoned vet]

Originally Posted by Nowitzness41

Originally Posted by seasoned vet

Originally Posted by Nowitzness41


she was short after losing her job, and missed a payment- had to turn in the car, and i believe since she didnt complete the 4 year lease note so it jacked up the credit. Ya, she was a little naive about it- but still, i aint leasing any cars

 
 
....its amazing to me how people break a financial contracts and call it being taken advantage of. happens far too often.
  

The breaking of the contract wasnt the part i was talking about when i said getting taken advantage of, she was getting ripped off on the price (her fault, i know- but still took advantage of my mom and her being naive- she hadnt leased before, and hadnt bought a car in YEARS until that point). She basically couldve owned the same car in that time frame

Oh, and is your sentence singular or plural bro? Hard to tell Mr Seasoned vet  (why you gotta assume and be rude, thats my mom)

 
 
...whatever the case you have to educate yourself before signing on to pay anything. and yes that includes your mom.
 
...you choose not to educate yourself before signing on the dotted line to pay something back, thats not you being taken advantage of, thats you not being smart about your money.
 
 
...i would say i feel sympathetic because its your mom, but i dont. i dont play those games, not even in my own family. sorry.
 
 

  

 

[al audi]

Originally Posted by venom lyrix

I've been driving since I was 17.

I'm getting my 3rd car next week (First was Honda Accord 06, Next was Mazda 6 09, now '12 Ford Edge)

I've leased all of them.

A. It allows variety and a change of car every 36 months, which is great because it's always nice to get a new car and switch things up.
B. Maintenance has been minimal, aside from one major accident I got into in the rain, but insurance covered it.
C. Only having to pay 5-8K in that time and then changing the car has it's value instead of paying 22-30K for a car and being stuck with it.
D. I take the train to work, and my long trips to AC, or other states out of NY are the only ones I make, so 10.5-12K miles is fine for me.

I haven't found an issue with it yet, I enjoy leasing. Maybe if I really fall in love with a car I'd consider buying it, but until I decide to reach into the luxury department of cars, I won't be doing that.

ford edge is nice
which trim?

imo its even better to lease the luxury cars cuz they depreciate and change the fastest..........not to mention the maintenance.

 

[k2theablam]

Originally Posted by Al Audi

Originally Posted by K2theAblaM

damn, how many miles are you currently at?
i thought i drove a lot........i assume you plan on keeping this car a while....no? 

my thing is, seems when ppl get real high in miles or done payin off a car they usually wanna try an sell or trade in anyways so the whole car payment thing starts over, an with the miles youre runnin, the value is going down  lots, even for a honda

lease, i can get the mileage i need, maintenance done, then re up when im done.

Been driving it for about 4.5 years and I'm tipping the 80k mark right now. Payed it off over a year ago so I haven't made a single payment since. I'm going to be driving this car for a while though, so I don't have plans on another ride until this one literally falls apart on me, which I'm hoping won't be for another 100k miles or so.
Although I can appreciate a nice late model sedan, I don't necessarily need one if it'll save me 400 - 500 bucks a month.

 

[pworld10]

Originally Posted by Al Audi

Originally Posted by pworld10

IMO if its a car i know i do not want to keep (will want the next new thing), and i can use it for work (i work in the aftermarket auto industry, and can write it off under business), or its a more expensive car (unless its a limited model, it will depreciate like hell once u drive it off the lot. i.e. mercedes) I would lease. I am currently in my first lease ever, and love the peace of mind i have that in 3 years i can get something new and fresh, and i don't have to worry about the longevity of what i have now. I drive it i do not baby it.

Only time i will buy if its certified pre-owned. That way I let the person who bought it new off the late take the biggest depreciation hit. Their loss, not mines. Or if its under 10k of course.

all your maintenance is covered too? 

Yes, i got audi care. It was a no brainer. Lowered my residual 1 percent as well. so almost paid for itself. 

 

[biglescobar]

LOL at people wanting to say they own a car fully in their name like its an appreciating asset.....A car is the worst investment you can own in your name, it goes down in value everyday and requires money to maintain just to keep it functional.....With leasing you are paying for the depreciation instead of paying for the car and absorbing the depreciation and with most companies now you dont have to pay to maintain or service the car during the duration of the lease as well....There is no one right or wrong answer it all depends on your personal situation car wise and finance wise......What makes sense for one person may not make sense for another person so its really up to the individual to do whats right for their situation

When I get a new car I lease it and I am able to write the entire monthly payment off as a business expense, when financing you cannot do this.....But when I buy a high end used car I pay cash and buy it outright....

 

[rfx45]

Originally Posted by K2theAblaM

I drive a lot, so for me... a mileage limit is out of the question. 12k a year isn't going last me 9 months so I can't have that restriction. Additionally, with the money I'm using to lease a car, I can be purchasing a car and have something of value at the end and not go through the entire leasing process all over again. I hate making car payments in the first place, so to have a lease payment that will show no value for me at the end is asinine.

This is what most people do not get with leasing. You pay for the cars depreciation, it's like a reverse finance, so in essence you are pretty much paying the same amount. Here's an example I used from another thread:
If you finance a $20k car for 5 years. After 2 years, the car is worth ~$15k and you may have paid ~$5k or more by then. 

If you lease a $20k car for 2 years and say you paid $5k total for those 2 years and at the end the car is worth ~$15k in case you choose to buy it anyways after the lease is over.

So essentially you paid the same amount for the same amount of time. Of course it's a bit more complicated than that and a lot of other factors plays into it like how much value the car has after it is driven off the lot and how well it sells (also depends how well you haggle). A car that depreciates much quicker is better leased than purchased, a lot of people lose money or tends to owe more than the cars worth when financing because the car loses value so fast. Also, keep in mind that if you want a new car every few years, selling a financed car is a hassle. Lease payments tends to be less than financed car and even less if you choose to put a fully refundable security deposit (plus you're taxed on your monthly payments instead of the whole cars value). It is also a shorter contractual commitment as well. 

In the end, leasing isn't for everyone but it does suit some people better. 

 

[pworld10]

Plus, remember that you don't own a damn thing, until that pink slip is in your hand. And you have paid in full. I know many people that by that definition never owned a car. They always have a car note, finance, or lease. *shrugs* My last car i bought certified pre-owned. When i wanted to trade it in for something new it was a hassle. With the lease, i just see whats coming out end of 2014 for 2015 model year. And I'm praying the new M3 coupe is out by then!! or the new S4

 

[djaward]

If you want a new car every 3 years and you dont care to own, then lease.

If you hate car payments and want unlimited miles then buy.

I've been leasing for the past 8 years. Im planning on buying my next car this coming March. Im sure 3 years after that, Im probably going to want a new car.

 

[4wrestling]

Originally Posted by pworld10

Originally Posted by Al Audi

Originally Posted by pworld10

IMO if its a car i know i do not want to keep (will want the next new thing), and i can use it for work (i work in the aftermarket auto industry, and can write it off under business), or its a more expensive car (unless its a limited model, it will depreciate like hell once u drive it off the lot. i.e. mercedes) I would lease. I am currently in my first lease ever, and love the peace of mind i have that in 3 years i can get something new and fresh, and i don't have to worry about the longevity of what i have now. I drive it i do not baby it.

Only time i will buy if its certified pre-owned. That way I let the person who bought it new off the late take the biggest depreciation hit. Their loss, not mines. Or if its under 10k of course.

all your maintenance is covered too? 

Yes, i got audi care. It was a no brainer. Lowered my residual 1 percent as well. so almost paid for itself. 

I got Audi Care as well.  Buy or lease, this was a no brainer for me.