Pros and Cons of Leasing a Car

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Thread: Pros and Cons of Leasing a Car

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    Pros and Cons of Leasing a Car





    Leasing can be a convenient choice for some and here are some of the pros and cons of this option.



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    Re: Pros and Cons of Leasing a Car

    Been leasing since '89. Never out of warranty. Never over my miles. Never any wear and tear at end of lease. I budget so much a month for transportation. I lease as much vehicle as I can that fits the budget. Never have to worry about being upside down and always have the latest tech and safety features. Perfect for my needs. For those that prefer to "own" their car....if you finance it ask the finance company who owns the car and who holds the title while your monthly payment is at least 40% more than if you had leased. If you drive a boatload of miles annually it is a different story
    Last edited by criticalmass; 07-24-2019 at 10:16 AM.

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    Re: Pros and Cons of Leasing a Car

    Quote Originally Posted by criticalmass View Post
    Been leasing since '89. Never out of warranty. Never over my miles. Never any wear and tear at end of lease. I budget so much a month for transportation. I lease as much vehicle as I can the fits the budget. Never have to worry about being upside down and always have the latest tech and safety features. Perfect for my needs. For those that prefer to "own" their car....if you finance it ask the finance company who owns the car and who holds the title while your monthly payment is at least 40% more than if you had leased. If you drive a boatload if miles annually it is a different story
    Tried to convince my wife of this back when we bought our Buick...If we would've leased we probably could've gotten a Navigator/Escalade/LX570/X7/etc for the $800 and some change /mo we're paying on the Enclave. We've had it 8 months and we've put a grand total of 5500 miles on it so far. And that includes a 1200 mi round trip drive to Disney World. You know what they say..."happy wife, short life"...that's not right is it?
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    Re: Pros and Cons of Leasing a Car

    Guaranteed buy back price, GM's leasing deals on Volt was incredible.

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    Re: Pros and Cons of Leasing a Car

    Lease New, Buy Used. There are very few scenarios in which this isn't the right financial approach to car ownership.

    I'm actually leasing a new car tomorrow. 2019 Lincoln Nautilus Black Label.
    Last edited by BORG; 07-23-2019 at 06:48 PM.

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    Re: Pros and Cons of Leasing a Car

    Quote Originally Posted by BORG View Post
    Lease New, Buy Used. There are very few scenarios in which this isn't the right financial approach to car ownership.

    I'm actually leasing a new car tomorrow. 2019 Lincoln Nautilus Black Label.
    90% of financial planners will disagree.

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    Re: Pros and Cons of Leasing a Car

    I am tempted to lease a Kia Forte for $129/month but I just paid for a wheel alignment and 4 new tires for my 2013 mazda 3 (40,000 miles)

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    Re: Pros and Cons of Leasing a Car

    no real pros to leasing. what car guy wants to rent? have bought tons of brand new cars paid off in 3 or 4 years driven for 7 or 8. you can always trade it sell it keep it or give it to family or kids who need a car. the years without payments save and invest and you have plenty for huge down payment plus your pick of one owner paid off cars to trade if you keep most of them after paid off.
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    Re: Pros and Cons of Leasing a Car

    Quote Originally Posted by criticalmass View Post
    For those that prefer to "own" their car....if you finance it ask the finance company who owns the car and who holds the title while your monthly payment is at least 40% more than if you had leased.
    Why is this even a consideration unless you expect to default on the loan?

    The only pro to leasing is convenience. And living beyond your means, if you consider that a "pro". If you want a new car and never be out of warranty, you can always buy a car, use it for 3 years (or whatever the lease term would have been) and sell it and be better off than leasing.
    Last edited by emh; 07-23-2019 at 11:44 PM.
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    Quote Originally Posted by emh View Post
    Quote Originally Posted by criticalmass View Post
    For those that prefer to "own" their car....if you finance it ask the finance company who owns the car and who holds the title while your monthly payment is at least 40% more than if you had leased.
    Why is this even a consideration unless you expect to default on the loan?

    The only pro to leasing is convenience. And living beyond your means, if you consider that a "pro". If you want a new car and never be out of warranty, you can always buy a car, use it for 3 years (or whatever the lease term would have been) and sell it and be better off than leasing.
    leasing works when vehicle is use for business, it’s easier to keep track of costs on a fully maintained lease

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    Re: Pros and Cons of Leasing a Car

    Not even sure why I buy my cars when I live in Chicago and every where I need to be (work, loft, night life, grocery and most friends) are within 20 mins of each other WALKING! Lol I go weeks without driving my cars. Uber and the L train are my go-to. Lease would be perfect for me. Book by Cadillac was going to be my route until they stopped accepting new members in the USA. Must be lucky to be over there in Europe.
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    Re: Pros and Cons of Leasing a Car

    Quote Originally Posted by BORG View Post
    Lease New, Buy Used. There are very few scenarios in which this isn't the right financial approach to car ownership.
    Because of the VW scandal, my Cruze diesel had a huge discount when new.

    I financed it because interest rates were well under 2%.
    My payment's been low this whole time, not much more than what people pay to lease.

    Soon this car will be paid off. It'll have less than 40K miles on it, so I'll be able to drive it for years with no payment.
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    Re: Pros and Cons of Leasing a Car

    I will lease but only if it's a better deal than financing and sometimes it is.

    GM has offered substantial "lease cash" and cash back on leases only. We also got 0% lease rate on our Montana back in the day, the purchase rate was 1.9%.

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    Re: Pros and Cons of Leasing a Car

    Quote Originally Posted by buildacariwant View Post
    no real pros to leasing. what car guy wants to rent? have bought tons of brand new cars paid off in 3 or 4 years driven for 7 or 8. you can always trade it sell it keep it or give it to family or kids who need a car. the years without payments save and invest and you have plenty for huge down payment plus your pick of one owner paid off cars to trade if you keep most of them after paid off.
    What "car guy" is into driving a 7 or 8 year old car and dealing with the associated maintenance issues? If that is the objective then financing is your best bet. I like to turn my cars frequently so leasing makes that easy. I never exceed 12 thousand miles a year, car always looks new, I have latest safety features and I never go over my budget. Doesn't work for everyone but for me it is a no brainer. I do not regard a car as merely a conveyance. It is an extension of my personality. But that's just me. And I am a "car guy".

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    Re: Pros and Cons of Leasing a Car

    I Like a new car every three years. Much easier to lease IMO.

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