Now you can have more money for mods...

JAGS

Hooked
Wow. Those are sub-prime terms hitting the prime market. Buyers will be upside down sooner than later. As the saying goes, just cuz you can doesn't mean you should. This is my $0.02 at least.
 

SmokinV10

Caught the Bug
Insanity. 7 years of car payments. Freak!

And I will never understand the logic of leasing a vehicle....


7 years of car payments is stupid but leasing works for the right cars. Go buy a high end luxury barge like a MB S Class, pretty much any MB AMG rig, BMW 7 series, Audi A8, Jaguar XJ and the smart consumer will lease. These rigs will lose 60+% of their value inside of the first 3 years of ownership. Imaging buying a $100k car and having it worth $37k in 36 months & 40k miles. A factory sponsored lease with a pumped residual protects you from the depreciation as you can walk away from the car when it's done and is often a lower payment than the 60 month purchase payment. Some argue "why don't you buy used?". Answer is that no smart consider will ever own any of these cars outside of warranty because any single trip to the dealer is >$2k. Lower mileage used is an option but a factory sponsored lease still might have a similar payment for a never farted in car. At the end of the day you want to dump it before the 50k mile bumper to bumper warranty is up so its temporary anyways.
 
Yes. I know what a lease is and "how they work".
Still retarded to even entertain the thought that it makes sense financially.
 

13_gecko_rubi

Caught the Bug
Yes. I know what a lease is and "how they work".
Still retarded to even entertain the thought that it makes sense financially.

The fact you made that statement shows you dont know how they work. Anyone who wants to have a new vehicle every few years should lease. They are a few exceptions on vehicles that hold their value like the Wrangler and trucks but not many. More and more manufacturers now are subventing the leasing companies rather than offer rebates too. It's why you see the lease pmts so low.
 

Brent McCartney

New member
Only way a lease is any good is if you intend on all ways having a car payment. For the 12 years I leased vehicles for my wife. It kept her in a vehicle I didn't have to worry was going to strand her or my kids. For me it was peace of mind, but then gm was taking a beating on the off lease cars and changed there residuals making it less advantage to lease for me. Now we have 2 jeeps.
I would never lease a Jeep.
 

catahoula

Caught the Bug
Leases blow! I will never understand the people who lease a vehicle THEN mod it out only to take all the parts off so they can turn it in at the end of it. Same feeling for a longer payment term.
 

cozdude

Guy with a Red 2-Door
Lol I leased my jeep and I do t regret it at all! After 39 months i bought it out. Yes I'm still making loan payments on it but it's well worth it.
 
The fact you made that statement shows you dont know how they work. Anyone who wants to have a new vehicle every few years should lease. They are a few exceptions on vehicles that hold their value like the Wrangler and trucks but not many. More and more manufacturers now are subventing the leasing companies rather than offer rebates too. It's why you see the lease pmts so low.



Let me guess. Your also going to tell me how a credit card is a powerful financial tool. LOL

Let's just agree to disagree.
 

SmokinV10

Caught the Bug
Let me guess. Your also going to tell me how a credit card is a powerful financial tool. LOL

Let's just agree to disagree.

No. He's right. It just depends on a variety of factors. The type of car, and your personal habits/need to have a new car. Most here are correct not to lease a wrangler since most will mod them and they hold their value. That one rule also doesn't work for other cars. As an example, take the current national offer on a Mercedes Benz S550. MSRP is $99825. Exclusing TT&L that translates to a ~$1900 a month payment on a 60 month term with average interest rates. In 36 months and 36,000 miles that car will be worth $40-50k. You will have paid $68400 into the car and might have $10k in equity. On the other hand the lease terms are. $7k down (cap cost reduction) and roughly $1250 a month. Comparing miles for miles you'll pay a $1500 penalty at the end for the 6k extra miles (30k mile limit with $.25/mile penalty). All in you're at $54k and you walk away. You have an extra $650 a month in cash flow every month, you're still $5k on top of of what you would have paid for purchasing it and you're not exposed to and additional depreciation that could potentially happen. These benefits are more common on luxury cars as they tend to depreciate more rapidly but there are often attractive terms on other cars. (Ie the occasional $199 month term on a Honda Accord) Then add in the fact that you get a new car every 3 years. Now if you are the type that keeps a car for 10 years that might not be for you. Some just don't want to
Keep their cars that long and will be in another car anyways. Which is the smarter decision then?
 
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catahoula

Caught the Bug
My wife's 1998 Honda Civic bought brand new $13,000.
Had to add air, floor mats and CD player.
No money down and no lease.
4 year low interest rate.
Paid off in 3 years
Maintained through the dealership for all maintenance and oil changes.
Put on 185,000 miles on it(she wanted to get over 200,000 on it).
Only left her stranded twice towards the end due to a piece of metal on roadway she could not avoid and totaled car last month.
I shit a loaf when theY gave us close to $3000 back.
I feel that was an excellent buy...but now we got a fucking car payment!!!!
Bought another Honda, an 2015 Accord Coupe this time. It is a sexy bitch I gotta admit.
She will drive this one into the ground as well.
 
No. He's right.

What's right for you isn't right for me.
No need to try and sell me on this subject. I flat out don't believe in debt so I find your logic amusing.

If you can't afford a 100K Benz don't buy one. If you can't afford the maintenance. Don't buy one.

There are no exceptions to the rule. Regardless of luxury vehicle or wanting to own a new vehicle every year. The car lease is for the chumps trying to keep up with the Jonses.
 

MTG

Caught the Bug
Go buy a high end luxury barge like a MB S Class, pretty much any MB AMG rig, BMW 7 series, Audi A8, Jaguar XJ and the smart consumer will lease.

Using "buy a luxury barge" and "smart consumer" in the same sentence is pretty funny. However...

As an example, take the current national offer on a Mercedes Benz S550. MSRP is $99825.



You have an extra $650 a month in cash flow every month,

Justifying the acquisition of a $100,000 vehicle with an extra $650/mo in cash flow takes the cake. LOL! :cheesy:

Please keep wowing us with your financial acumen. :yup:
 

SmokinV10

Caught the Bug
Using "buy a luxury barge" and "smart consumer" in the same sentence is pretty funny. However...



Justifying the acquisition of a $100,000 vehicle with an extra $650/mo in cash flow takes the cake. LOL! :cheesy:

Please keep wowing us with your financial acumen. :yup:

So all the guys buying luxury cars are dumb consumers. I'm make sure to pass on your financial analysis of their investment judgment to the majority of the executives at pretty much every corporate parking lot in America.
 

SmokinV10

Caught the Bug
If you can't afford a 100K Benz don't buy one. If you can't afford the maintenance. Don't buy one.

There are no exceptions to the rule. Regardless of luxury vehicle or wanting to own a new vehicle every year. The car lease is for the chumps trying to keep up with the Jonses.

The majority who buy these can afford them (either lease or purchase). Question is which option is going to land you on top after a few years.

Switching cars every few years might not be for everyone. But some have the means/need and the lease is the way to go.

If you think leasing makes someone a chump, I have more than a handful of friends who are either dealership owners or are GSM's of dealerships who have leased vehicles in their households. I'm sure your advice and generalizations are more sound than those who do it for a living.

EDIT: You also don't have to buy a $100K rig to see the benefits. That example just makes the figures more obvious. Take a middle of the road BMW 528i XDrive. This is also their national offer. $3000 down and $479 a month with 30K miles allowed. The car has a $55,000 MSRP. Purchase on a 60 month term would cost you more than $1K a month and the car would be worth $25K in 3 years (look it up on ebay for a 2012 528i). On the lease you'll have $20K invested and you walk away. On the purchase you'll have $36,000 invested and you might have $5K in equity in 3 years. Who's the dummy?
 
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