re: Advice about leasing a car?

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Broke people think ‘how much down and how much a month’. Rich people think ‘how much’. If you can’t pay cash for a car, then ride a bicycle. But don’t lease a car.

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Look, you came here seeking advice, not me.

You're asking a financial question, so in order to give you sound financial advice, those questions must me answered.

Either way, leasing a vehicle is the dumbest thing anyone should ever do, no matter your financial standing. Anyone with enough money, would never lease a vehicle, because they can buy it.

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The lease on any car, whether it’s a Ferrari or a Chevy pickup, basically you have the value of the car, the sticker price of the car at the time you start, and then you have the depreciation—the loss in value at the time you turn the car in. The lease payments during the time of the lease have to cover the depreciation plus they have to cover what’s called in the leasing world cost of capital. Translation: Interest. When you add all of those things together, Smart Money magazine (a division of the Wall Street Journal), Consumer Reports and Dave Ramsey all tell you—and our calculators will tell you—that leasing is the worst deal, the worst possible way to drive a vehicle. They charge you more that way than they will any other way. Whether it’s a used car or whether it’s a $20,000 car or a $300,000 Ferrari, the numbers don’t work.

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Look, you came here seeking advice, not me.

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Yeah from people who actually have experience in the issue and know what they are talking about; both things which are foreign to you.

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Anyone with enough money, would never lease a vehicle, because they can buy it.

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Do you realize how many people, companies lease? Why buy an expensive car you only plan to keep for two years?

Only an idiot would buy or finance that.

This is my fault, I came to the wrong place to discuss this.

The real problem with most leases is the mileage catch.

What the most I have seen are what 10k a year then it's a huge penalty for every mile over.

I had a huge expense account in the ninety's and at one time I had three fricking leased cars maxed out parked in the driveway by the end of that year.

It was comical but, it seemed wise at the time.

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Are you a company?

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Are you simple? Educate yourself about the benefits of leasing expensive/luxury instead of coming here acting like you know something (which you've proven not to) and attempting to shite on people.

This isn't the rant. Troll there.

Oh an by educate, I mean like how must of you do. Use google.

I'll give different advice. Leasing a vehicle isn't always a bad idea. It just depends on your situation. The two things to think about are how much you drive annually and are you comfortable being left with nothing at the end of the lease. Usually a lease allows 12-14,000 miles a year. My cousin lives in Chicago and has leased for over 10 years now. He uses public transportation most of the time, though and has built a good relationship with a dealership that gives him a good deal every 2-3 years.

That said, if you want a luxury vehicle and have to justify that want by leasing it, it's probably not the best idea. Plus it sounds like you're considering a used vehicle, which I didn't even realize they did, but sounds like an even worse idea.

Damn. I guess you asked for advise so you got someone's point of view. It's your money. Do what you want with it. I tend to agree with you on the notion that over a buy over 6 years you could have had 3 new cars and 0 repair bills (granted you don't wreck it). I have and just currently leased my wife's car. This is our 3rd. She doesn't drive much other than to work so we can stay within the 15k per year mileage. You have a lower note and can get new cars ever so often.
With leases, it's their car and is under warranty. You put gas I. It and change the oil. You can buy it at the end if you would like or you can get a new one.


People have their own opinions on what they do with their money and that's fine. More power to them but don't let someone's own opinion on how to live life discourage you. I have leased vehicles my entire life and have never had a problem or regret. Of the 3 vehicles I paid off on a standard finance term, all have had major issues within 3 months of paying them off. One of those was only 4 years old and only had 40k on it. They don't build cars like they used to. No matter if you finance, buy cash, or lease, your technically "throwing away your money". No car is going to last forever and all depreciate over time.

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it sounds like you're considering a used vehicle, which I didn't even realize they did, but sounds like an even worse idea.

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Could be a demo or pep (never titled). If that's the case, it's not a bad idea, he can get all rebates as a a new purchase and they will discount the car because do the mileage. The only down side is going to be the residual but 8 k miles shouldn't affect it by that much.

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Damn. I guess you asked for advise so you got someone's point of view. It's your money. Do what you want with it. I tend to agree with you on the notion that over a buy over 6 years you could have had 3 new cars and 0 repair bills (granted you don't wreck it). I have and just currently leased my wife's car. This is our 3rd. She doesn't drive much other than to work so we can stay within the 15k per year mileage. You have a lower note and can get new cars ever so often.
With leases, it's their car and is under warranty. You put gas I. It and change the oil. You can buy it at the end if you would like or you can get a new one.


People have their own opinions on what they do with their money and that's fine. More power to them but don't let someone's own opinion on how to live life discourage you. I have leased vehicles my entire life and have never had a problem or regret. Of the 3 vehicles I paid off on a standard finance term, all have had major issues within 3 months of paying them off. One of those was only 4 years old and only had 40k on it. They don't build cars like they used to. No matter if you finance, buy cash, or lease, your technically "throwing away your money". No car is going to last forever and all depreciate over time.

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Thanks man.

I don't get why some of these dudes were attacking me? I'm thinking what did I do? I just asked a question, hoping to get as much intelligent feedback as possible.

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Nobody is attacking you. You came here asking for advice, yet you're pissed off at others for giving their point of view.

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You know absolutely nothing about leasing vs buying when dealing with luxury automobiles so what possible point of view were you giving?

Just stop. Go back to the rant and troll there.

The only cars that should be leased IMO are cars like 6,7 series BMWs and S,SL class Benz. Why? Because resale on them is shite.