Thoughts on leasing??

ElVee · 12-09-2014, 12:17 PM

Another reason one may lease a car is if you plan to trade in at the end of the short term (2-3 years). Whether you buy the car or lease it, you're basically paying depreciation. If you plan to keep the car 5+ years, you're better off buying the car. If you plan to keep it less, you're better off leasing it.

For instance, you say you want something to show for it after the term. If you buy the car, and sell at worth after 3 years, you'll have nothing really to show for it since you took the hit for the depreciation. If you lease, you still take the hit for the depreciation in the lease terms, and the car is taken off your hands. The longer you lease the car, the dumber the decision, though.

In addition, depending on the lease deals, you could get free services for the term. Also, you don't have to do the selling when you do get rid of the car, you can often roll into a new lease deal at a good price. Though you do have the option of buying at the end. Another benefit is being able to wring out the car and drive it like you stole it, especially if you're in a manual, and not really worry about the condition at the end. That chances are good your 2-3 year-old car is going to be in fine condition and nowhere near 100k miles, so you can beat the hell out of it and no one will ever really know when you turn it in.

If you want a new car and not have to ever really worry about your car, and you want to keep getting new every 2-3 years, you certainly can lease just fine.

Some people lease because it allows them to get their butts into a car that is more expensive than they could afford by buying it. Honestly, this isn't a great idea. As someone already said, don't rent what you can't afford. That money should probably be used elsewhere or for something less.

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12-09-2014, 12:17 PM	#10 (permalink)
ElVee Track Member Join Date: Mar 2013 Location: Iowa Posts: 750 Drives: 13 370z 7at t+s grey Rep Power: 18	Another reason one may lease a car is if you plan to trade in at the end of the short term (2-3 years). Whether you buy the car or lease it, you're basically paying depreciation. If you plan to keep the car 5+ years, you're better off buying the car. If you plan to keep it less, you're better off leasing it. For instance, you say you want something to show for it after the term. If you buy the car, and sell at worth after 3 years, you'll have nothing really to show for it since you took the hit for the depreciation. If you lease, you still take the hit for the depreciation in the lease terms, and the car is taken off your hands. The longer you lease the car, the dumber the decision, though. In addition, depending on the lease deals, you could get free services for the term. Also, you don't have to do the selling when you do get rid of the car, you can often roll into a new lease deal at a good price. Though you do have the option of buying at the end. Another benefit is being able to wring out the car and drive it like you stole it, especially if you're in a manual, and not really worry about the condition at the end. That chances are good your 2-3 year-old car is going to be in fine condition and nowhere near 100k miles, so you can beat the hell out of it and no one will ever really know when you turn it in. If you want a new car and not have to ever really worry about your car, and you want to keep getting new every 2-3 years, you certainly can lease just fine. Some people lease because it allows them to get their butts into a car that is more expensive than they could afford by buying it. Honestly, this isn't a great idea. As someone already said, don't rent what you can't afford. That money should probably be used elsewhere or for something less.