Completely agree.
Leasing is a very specific point of entry. For some people it does make sense. It is very good if the company is providing you with a monthly stipend specifically to lease a vehicle. For most of us the math will never work out in our favor! In most leases you are still responsible for maintaining the vehicle. This includes new tires, repairs after wrecks, etc. you pay for the miles driven. Drive a lot, you will be paying a lot.
I have been buying new trucks when buying but those days are probably long gone. We buy older vehicles which will not depreciate too much over the next two to four years. Drive, sell, repeat. I can do ,most of my own mechanic work but there are some I cannot and some I do not have time to complete.
The dealership will always win the financial portion. Most of the time they make a killing on leases.
I have been buying new trucks when buying but those days are probably long gone. We buy older vehicles which will not depreciate too much over the next two to four years. Drive, sell, repeat. I can do ,most of my own mechanic work but there are some I cannot and some I do not have time to complete.
The dealership will always win the financial portion. Most of the time they make a killing on leases.
Dealerships make the same money they do on leases as they do on anything else. A sale is a sale. New car sales are there biggest loss and used car sales their biggest money maker. The difference is leases offer them repeat customers every 3 yrs returning low mileage, well maintained used vehicles, that somebody will buy at premium, plus all the warranties. So in that since yes, dealerships make a killing on leases.
They can make a killing if you don’t know what you’re doing. For those of us that like new vehicles, leasing can be much better than buying. Most people just don’t have the knowledge or experience in leasing to get a good deal. It’s not for everyone, but it’s definitely for me. I never pay for anything mechanical, free oil changes and sell for enough to get my deposit back, and pay low monthly payments. I’m lucky, my kids could never make it work. It’s very easy for me now that I’m retired and rarely go anywhere. I might not even put 1K on my car this year. I was thinking about just Ubering, but the wife didn’t like not having a car. Right now I go to Sam’s one time a month or month and 1/2. Everything else I have shipped to my door. If I Uber, I’d spend maybe $50 a month and not pay insurance.
Don’t ever sell to a dealer, period.
Help me understand; you stated that ‘leasing is better than buying’ and then say you’re doing “quite well” because you don’t have car debt.
That is literally opposite sides of the same coin.
Part of why I believe leasing to be bad (besides being locked in with mileage and repairs on a timeframe and risk for said mileage overage or cosmetic damages) is that I do not carry any debt outside of my Primary residence due to the small tax benefit that lowers my effective interest rate to 2.5%.
How are you proud of being debt free (you should be) while telling the group that leasing is better than buying?
I can’t Uber! We live 27 miles from town, no body is going to come pick me up for anything except when the medical examiner comes to get me. We own a ‘02 we bought in ‘04 and a’09 we bought in ‘11. We have kept them maintained and have had only minor issues with them. Can’t even begin to imagine how much money we have saved over the years by not making payments on vehicles we don’t even need. We don’t mind driving older vehicles, they get us where we’re going and back again and we’re not concerned with them breaking down.
Because you don’t know what you’re talking about Mr. know it all. Locked in with mileage? Nope, because you know nothing, but think you do. Repairs, cosmetic damages? You seriously know nothing because you can’t think out of the box Snoopy. Now stop. Seriously you have no clue. I’d explain leasing in detail, not what dealerships tell you, but leasing the right way, but why would I want you to benefit? No you just keep to your dumb ideas Snoopy.
You do you. I never said it’s for everyone. I’d only Uber now because I rarely go anywhere, but I’ve leased for many years.
If I’m wrong; please correct me:
1) How do you have unlimited mileage leases? I’ve never seen a lease without either a mileage limitation or simply pay for more mileage before/after lease term.
2) How is a lease car able to be returned with cosmetic damages (above normal wear and tear) not being charged either to fix or to offset the depreciated value from said damages?
Example: your leased car is sitting outside your apartment complex and get bad door dings or weather related damages. Who eats that?
You are correct in that I do not have first hand experience because I pay cash for vehicles and do not carry debt (like a lease).
Can you answer those questions without name calling or being overly dramatic?
