The increased cost of vehicle maintenance

[OKCShooter]

Thats not necessarily true. If your monthly payments are less than the depreciation of the vehicle at the end of your lease, you come out ahead. Ex: the car is worth 50k and in 3 years it depreciates 20k. Now if your lease payments were less than that 20k you come out on top and then if you want you can buy the car for 30k. Better yet if the car is mechanically trash you can turn it in and get a new vehicle. Besides most repairs are under warranty since no one should lease past the warranty period.

All leasing is, is betting you’ll be ahead of the market value at the end of the lease term.

Now if you’re a commuter and plan on racking up the miles, buying would be a better option.

Of course there are almost always exceptions to any rule but you’re defending Leasing cars as a better financial decision versus possible future repair costs without leasing?

You’d be the extreme minority in any financial think tank.

 

[OKCShooter]

Nope. Wrong. Made 7K on the last lease I sold during Covid. I get a new car every 3 years. Before that, once I paid a vehicle off I’d give it to my kids. So I’m not losing a dime and I pay low monthly payments. I don’t even pay for oil changes. Been doing this a long time and love always having a new car.

Everyone knows how Covid made a unique timeframe in Global history with supply chain issues. Thats an absolute one-off and you got “lucky”

If you’re leasing now with same intent there is absolutely no way it works.

 

[JokerofDeath]

Of course there are almost always exceptions to any rule but you’re defending Leasing cars as a better financial decision versus possible future repair costs without leasing?

You’d be the extreme minority in any financial think tank.

No…I’m defending leasing as a better financial decision than buying. If your lease payments are less than you end up losing in depreciation it is a win, also if the repairs are under warranty….how is that not a better financial decision? Lol.

Everyone who has no experience leasing always thinks leasing is some sort of scam.

 

[montesa]

No…I’m defending leasing as a better financial decision than buying. If your lease payments are less than you end up losing in depreciation it is a win, also if the repairs are under warranty….how is that not a better financial decision? Lol.

Everyone who has no experience leasing always thinks leasing is some sort of scam.

How does the dealer make any money on that then?

 

[OKCShooter]

No…I’m defending leasing as a better financial decision than buying. If your lease payments are less than you end up losing in depreciation it is a win, also if the repairs are under warranty….how is that not a better financial decision? Lol.

Everyone who has no experience leasing always thinks leasing is some sort of scam.

Sounds like you and I have different Financial IQs. Hope yours is working for you.

 

[JokerofDeath]

How does the dealer make any money on that then?

You’re paying the depreciation cost for the dealership.

 

[JokerofDeath]

Sounds like you and I have different Financial IQs. Hope yours is working for you.

Well considering the only debt I have is my home that I bought before the pandemic and is now worth 3x what we purchased it for and bills….I would say I am doing quite well.

 

[GaryOkie]

Thats not necessarily true. If your monthly payments are less than the depreciation of the vehicle at the end of your lease, you come out ahead. Ex: the car is worth 50k and in 3 years it depreciates 20k. Now if your lease payments were less than that 20k you come out on top and then if you want you can buy the car for 30k. Better yet if the car is mechanically trash you can turn it in and get a new vehicle. Besides most repairs are under warranty since no one should lease past the warranty period.

All leasing is, is betting you’ll be ahead of the market value at the end of the lease term.

Now if you’re a commuter and plan on racking up the miles, buying would be a better option.

You’re thinking like a car dealer. What you say makes sense, but there’s more to it. Most of this has to do with research before the sale. I’ve never lost money on a lease and that includes the deposit for the lease and I’ve leased many cars. There are plenty of people that shouldn’t lease, and others that are foolish not to. Though if you don’t know what you’re doing when you lease you can get bent over easily. There are even a lot of dealers that don’t know what they’re doing when leasing, because they just don’t lease many cars. I’m not begging anyone to lease, I’m just saying it works great for me and my needs. I don’t just walk into a dealership and lease a car. There’s a lot more to it if you want to make a good deal.

 

[Chief Sapulpa]

This is why I lease. Then sell before the turn-in date.

Especially as complex as new vehicles are today.

 

[JokerofDeath]

You’re thinking like a car dealer. What you say makes sense, but there’s more to it. Most of this has to do with research before the sale. I’ve never lost money on a lease and that includes the deposit for the lease and I’ve leased many cars. There are plenty of people that shouldn’t lease, and others that are foolish not to. Though if you don’t know what you’re doing when you lease you can get bent over easily. There are even a lot of dealers that don’t know what they’re doing when leasing, because they just don’t lease many cars. I’m not begging anyone to lease, I’m just saying it works great for me and my ne

I agree, not everyone should lease, just like not everyone should be a homeowner. Research is definitely the key.