Leasing vs Buying a car

[luckyluchiano]

My boy was telling me he was going to start leasing whips, It sounded like a cool thing, but Idk me personally I like to say I own my stuff. He made very valid points in how, the money you spend leasing will be pretty much like you buying a new car every so often , so you might as well get something new, and other stuff.

I want to get a new whip maybe next summer if  all goes well even though I have a Camry that runs perfectly well lol. I don't drive much either, outside of to work, and home, maybe going out too. My home girl was like her mom always leases cars, she pretty much has a honda she owns and drives that for road trips, and has a lease car to just drive normally.

I know this is probably on some flexing stuff lol. I know most corporate types just lease cars in stead of buying them. Any info?

 

[cels the younggod]

When I obtain a career making good money I would definitely lease...never really have an old car when you lease.

 

[ninjahood]

leasing is good if you just wanna get rid of your car every couple of years...and if you have a business you can right off da lease as

a business expense...

if you OWN your car its a asset, and after its paid for you can do w/e you want to it..its yours.

 

[luckyluchiano]

I`m looking at the Infiniti G35 the 05 and back junts are real obtainable for the price I`m setting by next year, but by leasing I could be sitting in a 2011 junt lol

 

[Mister Meaner]

There are a lot of nuances when it comes to leases. IMO, a lease would only be worth your while if you are caking and want to have a new Lexus/BMW/Benz every few years or using it for business.

 

[luckyluchiano]

Originally Posted by Super Producer J

There are a lot of nuances when it comes to leases. IMO, a lease would only be worth your while if you are caking and want to have a new Lexus/BMW/Benz every few years or using it for business.

yea thats what I was thinking, I didnt want any regulations on me, just want a damn car lol

 

[crcballer55]

If you want to rent a car for 5 years and have a car payment for ever, go ahead and lease.  Otherwise, stick with your current car and invest the month you would be putting in a deteriorating asset into something that will make you money in the long run.

 

[stylez23]

leasing will be more expensive in the long run, even if you don't buy it at the end of the lease.. you'll be spending thousands of dollars on something you don't own

i suggest you just save enough to buy the car upfront, my family has always done that... if they wanted a 50k car, they made sure they had 50k and would either pay it upfront or finance it for 2-3 years a most... you don't want to bury yourself in debt or be worried about making payments every month

 

[airkeung88]

If you got no money issue and love changing new cars every couple years, leasing is your best choice.

 

[Mister Meaner]

Originally Posted by LuckyLuchiano

Originally Posted by Super Producer J

There are a lot of nuances when it comes to leases. IMO, a lease would only be worth your while if you are caking and want to have a new Lexus/BMW/Benz every few years or using it for business.

yea thats what I was thinking, I didnt want any regulations on me, just want a damn car lol

I hear you though because I looked into it too. I'm pushing my old %!% Camry and have wanted a new car since '08

.

That new Maxima is good money.

 

[ninjahood]

having nothing to show for when your lease is done is wack......

 

[born to be fly]

You can lease with an option to buy, so after you pay it off it's yours if you still want it.

 

[ninjahood]

Originally Posted by Born To Be Fly

You can lease with an option to buy, so after you pay it off it's yours if you still want it.

too bad none of da money you used on leasing it is used towards da purchase of da car...

da best answer is finance..pay it slow or fast w/e u want, but own da car at da end of da day.

 

[grizzlyboy]

Leasing vs buying is always a tough decision. I have leased before and purchased. When it all come down to it you have to think about your situation. I personally think that buying is better. You own it, and after it is paid for you have the option of trading for a new one or keeping it for a project car or daily driver. Think long and hard.

 

[chest rockwel]

Originally Posted by stylez23

leasing will be more expensive in the long run, even if you don't buy it at the end of the lease.. you'll be spending thousands of dollars on something you don't own

i suggest you just save enough to buy the car upfront, my family has always done that... if they wanted a 50k car, they made sure they had 50k and would either pay it upfront or finance it for 2-3 years a most... you don't want to bury yourself in debt or be worried about making payments every month

Worst advice. Don't buy a 50k car if there is some concern that you won't be able to make the payments. You know your 50k instantly becomes around 40k as soon as you drive off the lot. Horrible way to throw away money. Never pay cash for a car unless you have tons of money and money is not an issue.
Simple . Lease a car if you like something new every couple years. If you don't care then purchase. I lease because I get sick of cars quickly. Plus I never have auto worries. Always under warranty. Just make payments and drive.


  

 

[18th letter]

Originally Posted by ninjahood

having nothing to show for when your lease is done is wack......

word to that cubby you live in

 

[STooK]

it really really depends. i always thought buying was better too, but leasing does have its benefits. unless you plan to keep the car for at least like 5 years or more leasing might be better if you plan to get rid of it in 3 years or so. the amount you would've lost anyway trying to sell your bought car in 3 years is similar to what you paid for your lease for those 3 years.

 

[blckmagc88]

Can u throw rims on a lease?

 

[STooK]

it really really depends. i always thought buying was better too, but leasing does have its benefits. unless you plan to keep the car for at least like 5 years or more leasing might be better if you plan to get rid of it in 3 years or so. the amount you would've lost anyway trying to sell your bought car in 3 years is similar to what you paid for your lease for those 3 years.

people are talking like if you buy you don't lose any money...either way money will be lost if it's a new car. only way to actually buy something and not lose too much money is if you buy a 15 year old car.

 

[diego]

I never understood people who finance cars and then trade it in or sell it to buy a new one once all payments are made.

 

[luckyluchiano]

Ok so some of you are giving me the impression, you must pay the full price of the car while leasing but at the end they let you swap. Or is there a set price you must fulfill? Or are you just paying a certain amount almost like a rental fee for however long you signed on to lease the car?

 

[pdot]

What about if the whip you're leasing is your summer/fun car?

 

[dam itz lou]

I dont believe in leasing unless you have bank. Paying for something your not gonna own a couple yrs down the road is

My best advice is don't buy something new, get something with low miles and if possible 1 owner. Let someone else take the hit when they drive it off the lot. Finance it or pay it up front and think of it when your done paying it, it's gonna be your down payment on your next car and then whatever money you saved on top of that. Then just keep repeating the process.

That's the way I thought of it when I got my car.

blckmagc88, yea you could do throw rims on a lease car. You just have to put the stock rims back on when you give it back.

Lucky, your definitely not paying the full amount for the car. It's probably like maybe half for the 3 yrs? not sure. But ya it's like a rental fee. Example $350/36 months then you give it back but you have to give it back the way they gave it you.

 

[maddenfan04]

Heres my take on it, if you have the money* then life is WAY too short to be financing

by having money I mean not having to be stressed out with payments, which for a 50,000 car is probably a mid 6 figures salary

so basically, leasing is dumb as hell unless your rich, which is beyond 99% of NT'ers so who really cares...

 

[weekend girl]

Leasing is a horrible trap

Insurance was higher because I was scared **@#@@!% to damage the car and the payments go nowhere. At the end of your term they'll allow you to buy but only at its current value after driving it around for a few years. On a 20k vehicle you've dropped 12k into leasing over 4 years they'll offer you to buy at like 15k. Wack. A lot of people lease because cars depreciate in value pretty quickly depending on what you get so the resale value won't be as great. Higher end cars depreciate a lot more but the majority of us don't even have to worry about that anyways...

Financing > leasing. Leasing a new car every few years just to stunt is stupid as hell (unless you can write it off).

Trade in the current whip and try to finance something at a low rate. A lot of dealerships doing 0% at 48/60/even 72 months on new vehicles now. If you want a new car before you're done financing you can always trade in your vehicle and refinance for something else. At least your money is going somewhere.