Buy vs Lease

[Ratt]

I buy used for me, but since this was the wife's first ever car I wanted to get her something she would be proud of, so we leased her a brand new Mini. We did not put that much down and have low monthly payments, and resale on a Mini is actually really good, so when she wants to trade it in I won't feel like I'm getting ass-pounded sans lube.

[Cooter]

I get bored and change vehicles fairly often...

pay cash, get good deals, break even or make money when you sell.

been driving "free" vehicles for over a decade that way

[Woods Racing Transmission]

People that are wealthy buy their cars, yet people that think they are wealthy lease their cars. Or flease like Dave Ramsey would say.

[DamonH]

New cars are for suckers. These things depreciate astronomically until they are about five years old then they start to level out.

I used to think the same thing. Don't lock yourself into that type of thinking, every car is different. Sometimes the difference in interest rate is enough to make buying a new car worth it. Sometimes a car gets old enough that nobody wants to buy it from you or can't get a loan / doesn't have cash when you want out. Sometimes it's just not worth the headache of dealing with an older car. When I was younger I always got a nicer used car then I could afford new. Now that I'm older, I prefer to take the hit and not have to worry about what previous owners did or my wife getting stranded with the kids. I don't trade out cars, I usually drive them 6-8 years at this point. We still drive an '05 Accord and a '06 F150 (both paid off), so your mileage may vary.

[ELVIS]

People that are wealthy buy their cars, yet people that think they are wealthy lease their cars. Or flease like Dave Ramsey would say.

yep, people just scraping by like myself find it easier to lease.

god bless.

[Nash B.]

yep, people just scraping by like myself find it easier to lease.

god bless.

See you at the soup kitchen tonight!

[johnny--2k]

People that are wealthy buy their cars, yet people that think they are wealthy lease their cars. Or flease like Dave Ramsey would say.

Quite the opposite. I have more clients with ridiculous amounts of money that Lease in comparison to buy (cash or finance) and I work in a high end dealership.

If you get bored with your cars quickly, like to have the newest and best technology etc, and dont drive an exhorbitant amount of miles, lease is your best bet. No worries about negative equity, always have a car under warranty, always getting the best of the best when it comes out, and you still have options at the end. You can turn it in and walk away, you can buy it out, or you can lease a new one and in almost all cases, at that point you get some form of loyalty, so chances are your payment will go down. Also, there is the possibility of getting out of your current lease earlier, into a newer car, for the same or lower payment depending on programs.

EG: Right now, we have an 8 Pamyent pull ahead program plus another $2K incentive, so really, you could get out 10 or 11 months early into a newer car for the same payment.

I am going to be leasing a car in the next few months, and residuals on it are awesome! 74% residual value after 2 years and 30K miles, that's pretty damn good in just about any scenario when it comes to new cars.

[slow99]

People that are wealthy buy their cars, yet people that think they are wealthy lease their cars. Or flease like Dave Ramsey would say.

Yet another reason to ignore anything DR says.

[POSYJ]

I am going to be leasing a car in the next few months, and residuals on it are awesome! 74% residual value after 2 years and 30K miles, that's pretty damn good in just about any scenario when it comes to new cars.

Sounds like the exception instead of the rule? I am from MI and the lease deals in TX are terrible compared to what I could do in MI:

1998 - new ext cab 4x4 K1500 - 25k a year 2 year lease - 198/mo
2000 - similar truck C1500 - $300/mo
2006 - F150 4x4 ext cab xlt, 2 yr, 24k miles - 219/mo - when I turned in this truck the dealership down here said that the lease programs they offered at the time were closer to 2x that??

cant find any deals like that down here???

Regarding buying new being for idiots...picked up a new vert 5.0 premium for the wife - after rebates and discounts for 36k otd iirc...sticker was almost 43k sticker...I dont consider that dumb..

[POSYJ]

Yet another reason to ignore anything DR says.

you do see alot of people driving cars worth more than their homes here in Dallas...alot have D&M and autoflex plates - just sayin..

on the other hand, If I could find a really good deal on a lease I would consider it...I get bored easy and a lease would a nice option...

[Silverback]

yep, people just scraping by like myself find it easier to lease.

god bless.

Cracka Rich!