NTers who lease their whips? Vol: new whip every 3 years

[DB Cooper]

Leased a 2012 Lexus IS250. Put 2k down, $349 a month. Lease is up in October. About to trade it in for a GS.

 

[mivish06]

Leasing...I just couldn't do it. A car payment for a lease on top of a mandatory insurance payment is very expensive. I'd rather pay off a car in its entirety and pay for insurance monthly only

 

[keko jones]

http://newyork.craigslist.org/que/cto/4516992322.html

SMH ... Just don't understand why this person leased a 2013 when he could of have purchased a off lease 2010 for way less have the same monthlies and ran the **** out of with loosing very little ....

 

[heliumclinton]

I'm actually all for leasing but I can admit it costs more than buying a car and is wasting money.

and I could admit eating at restaurants cost more than cooking food, what's your point? People that lease aren't concern about the financial aspect, that's the point.

 

[picasso swerve]

If you care how much your car is worth so you can sell it in the future then you might as well should have leased it.

Everyone knows cars arent an investment, no one buys them thinking that. Some people want brand new because of various reasons: first statement buy ("Bought my first car and its brand new"), dont trust used cars, family doesnt believe in used cars, etc. Its all fine at the end of the day.

 

[Betonblck]

I'm actually all for leasing but I can admit it costs more than buying a car and is wasting money.

and I could admit eating at restaurants cost more than cooking food, what's your point? People that lease aren't concern about the financial aspect, that's the point.

Then don't say you lease because you are concerned about the financial aspect because it is like saying "eating at restaurants costs less than cooking food".

 

[heliumclinton]

I'm actually all for leasing but I can admit it costs more than buying a car and is wasting money.

and I could admit eating at restaurants cost more than cooking food, what's your point? People that lease aren't concern about the financial aspect, that's the point.

Then don't say you lease because you are concerned about the financial aspect because it is like saying "eating at restaurants costs less than cooking food".

Dude what?

People that lease 9 times out of 10 is because they don't want to be stuck with a car and nothing to do with the cost of the car note, it's simple

 

[al audi]

I average about 27 to 30k miles a year. I can't see how some of you young cats do it. 10k that's 3 month for me. If you want to stunt that bad so beat it. But what you tell the yambs when you can't joy ride?

i cant lease beause i drive too much also currently

i get up an go as i please, go to diff gyms, will meet up with people......sometimes i hit a mall then im like lemme check the other mall etc

best way is to have a daily driver then a lease car for other purposes or hell just straight up fun factor/stuntin

 

[miniojw]

OP, was all parts of your OG question answered? Cats is talking about food now.

 

[keko jones]

Dude what?

People that lease 9 times out of 10 is because they don't want to be stuck with a car and nothing to do with the cost of the car note, it's simple

I actually think that number is wrong ... I'm certain that there are a lot of cats that lease because they can't afford to buy the brand new luxury whip. They have accord money but leasing to have the Lexus ...

There are plenty of people that lease Hondas Toyota's because they want a brand new vehicle but can't afford those payments as they have other priorities ....

Of course you have the rich or wealthy people that lease because they have a image to uphold and simply a 2011 in 2014 is old for them.

 

[al audi]

most ppl lease because you get more bang for your buck an also worry free

those 2 factors alone

win/win

 

[heliumclinton]

Dude what?

People that lease 9 times out of 10 is because they don't want to be stuck with a car and nothing to do with the cost of the car note, it's simple

They have accord money but leasing to have the Lexus ...

There are plenty of people that lease Hondas Toyota's because they want a brand new vehicle but can't afford those payments as they have other priorities ....

If you have accord money how are you leasing a Lexus?

 

[Betonblck]

Dude what?

People that lease 9 times out of 10 is because they don't want to be stuck with a car and nothing to do with the cost of the car note, it's simple

They have accord money but leasing to have the Lexus ...

There are plenty of people that lease Hondas Toyota's because they want a brand new vehicle but can't afford those payments as they have other priorities ....

If you have accord money how are you leasing a Lexus?

Are you trolling?

 

[al audi]

If you have accord money how are you leasing a Lexus?

um......

yes makes sense to

if you can buy a 30k car you can lease a 40k car........

 

[heliumclinton]

If you have accord money how are you leasing a Lexus?

um......

yes makes sense to

if you can buy a 30k car you can lease a 40k car........

so basically $400 car note would get you a Lexus lease but Accord financed?

 

[keko jones]

so basically $400 car note would get you a Lexus lease but Accord financed?

Basically ..

 

[seasoned vet]

i lease to keep my wife and son in something new and worry free.

im leasing a 2014 Impala 2LT right now
15k miles/ 36 mos/ $400 mo

 

[Betonblck]

13 pages of mostly foolish arguing on this topic when this is all that needs to be said:

Summary

In a nutshell, leasing makes it easier to get more car for less money. You are essentially paying for a portion of the car, instead of buying the entire vehicle. So, like many things, leasing looks great in the short run. But if you take the long view of economics, you will see that leasing will eventually be more expensive. It is more costly because once you begin leasing, you wind up leasing again. This means you will always have a car payment and never own anything.

Now consider the person who buys a car. At the end of five years of car payments, the car now belongs to him or her. It might not have much value on the open market, but if you're willing to drive it for several more years, it becomes nearly free transportation until the wheels fall off.

It is ultimately up to the smart car buyer to weigh the pros and cons, determine what their needs are, and what best suits their lifestyle.

http://www.edmunds.com/car-buying/should-you-lease-or-buy-your-car.html

 

[keko jones]

i lease to keep my wife and son in something new and worry free.

im leasing a 2014 Impala 2LT right now
15k miles/ 36 mos/ $400 mo

Boy boy boy ... I don't understand some people .... $400 a month for a lease car that MSRP is 30k that for about $500 you can own it? Doesn't make any sense to me.

 

[diego]

i lease to keep my wife and son in something new and worry free.

im leasing a 2014 Impala 2LT right now
15k miles/ 36 mos/ $400 mo

Boy boy boy ... I don't understand some people .... $400 a month for a lease car that MSRP is 30k that for about $500 you can own it? Doesn't make any sense to me.

You're forgetting the fact that the lease would be getting you a brand new car.
That $500 finance will be for a used car with who knows how many miles.

 

[capricdragon]

Sheesh 1k a month for something you won't own? Idk I can't do it, call me poor broke etc

I hear yeah. We've done the $800-$900 month finance payments years ago.
Sure we owned it outright, but eventually when the mileage gets up there, mechanical parts start breaking down; preventive maintenance and surprise disasters put a hurt on the wallet.
We wanted a high-end SUV, we didn't want to put a ton of cash as down payment (finance). Lease worked out well for us. Plus we can decide to ultimately purchase it at lease-end anyways.
Saved $$ on monthly payments up to that point.

 

[capricdragon]

From a strictly financial standpoint, leasing makes more sense unless you buy outright. You save on maintenance with a lease(as they are typically under warranty the entire term). I think it's the best/smartest option since cars are depreciating assets. If you have the credit for a lease, it makes more sense.

 

[capricdragon]

whats the residual at end of term? did they tell you what the lease/rate factor was? how much down? was tax/title/license/fees rolled in?

i'm not really in the market for a car right now (knock on wood) but i've been thinking of puttin my wife into a Denali XL now that we got a kid. Asian woman drivers y'know? Now that she driving my kid around I want to wrap her in 5,000 lbs of metal.

Sup Mojo. Hahah we're Filipino so I hear yeah.

I don't have the residual amount in front of me, but what I recall at the dealership, the residual was very competitive compared to other dealerships we researched. Anything in the 3-4 year lease window, the residual for high credit score customers doesn't vary much.
If we would have gotten a longer lease period, the residual would have become more of a eye-sore than a positive.

We definitely get a lot of looks in the neighborhood because it's a 2015 model.
Tax/title/registration/delivery fee was paid out of pocket at the dealership.
No money down. We basically paid for the 1st month with all the above.
We did haggle the final price down a few dollars and got a few dealer options at a discount, but not much considering the Denali is super high in demand.

You can't find a 4WD Denali XL anywhere is southern Cal. especially in White Diamond Tri.
You'd have to wait 4-8 weeks for delivery from the manufacturer ~ for a 4WD model in White Diamond.

We lucked out finding ours. Apparently, a guy from south OC went around to a few GMC dealerships and put a 'deposit' hold for this specific Denali package. No obligation deposits.

Our dealership and one close to this guy's house received the Denali from the manufacturer on the same date. So he basically just withdrew his 'hold' at our dealership freeing up the vehicle the day before we walked onto the lot.

Only 1 kid?? This beast sits eight! We have 3 kids so it fits us perfectly for those trips to Costco.

Go to a dealership and check out the 2015's. You'll be impressed.
Or even check out the 2014's... from what we heard dealerships are trying to 'give them away' to make room for the '15s.

IMO you'll like the '15s better though. If you test drive, give it the gas and listen to the exhaust. It's pretty sick.

 

[Hank Scorpio]

Just read through this thread and a lot of you guys are well informed with the whole leasing vs. financing a car deal.

I've been thinking of leasing a car now for the past few months and decided on either leasing the 2014 BMW 535xi or Mercedes-Benz E350 4matic.

Been doing some research and the residual value for these cars aren't high at all (which is expected). Luxury cars are known to depreciate terribly over time and I just can't justify financing or owning a luxury car unless it's for collective purposes.

I've done the math between both lease option and it seems like the best bet would be to get the MB E350--36 months with $693/month w.o anything down. MSRP on the MB is $64k

The BMW was 36 months with $730/month w.o anything down as well. MSRP on the BMW is $67k

Paying a downpayment for a lease is the dumbest thing I've ever heard. IDK why people do this. It seems like a total waste of money.

I live in NYC, so I'm perfectly fine with a 10k miles a year limit. The only time I'd need a car would be to go out on the weekend or when I go snowboarding or golfing away from the city.

 

[heliumclinton]

i lease to keep my wife and son in something new and worry free.

im leasing a 2014 Impala 2LT right now
15k miles/ 36 mos/ $400 mo

Boy boy boy ... I don't understand some people .... $400 a month for a lease car that MSRP is 30k that for about $500 you can own it? Doesn't make any sense to me.

400/month for 36 months and getting in a new vechicle after > 500/month for 60 months to own a car that you're going to be bored with after 5 years