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Author Topic: Lease or Buy  (Read 3577 times)

Disgusted

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Lease or Buy
« on: July 17, 2008, 08:52:34 PM »
OK so I have never leased a car before, but I am thinking about it. I mean after 4 or 5 years the car isn't worth a shit anyway so I am undecided. Any advice?
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240 is Back

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Re: Lease or Buy
« Reply #1 on: July 17, 2008, 08:54:10 PM »
Buy cheap and easy to fix.  Dealers are desperate right now.
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Disgusted

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Re: Lease or Buy
« Reply #2 on: July 17, 2008, 08:55:34 PM »
Quote from: 240 is Back on July 17, 2008, 08:54:10 PM
Buy cheap and easy to fix.  Dealers are desperate right now.

Not sure I know exactly what you mean.
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calfzilla

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Re: Lease or Buy
« Reply #3 on: July 17, 2008, 08:56:45 PM »
Buy, do not lease!  Or should I say fleece?  

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240 is Back

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Re: Lease or Buy
« Reply #4 on: July 17, 2008, 08:58:07 PM »
Quote from: Disgusted on July 17, 2008, 08:55:34 PM
Not sure I know exactly what you mean.

sorry - my advice is don't lease.  many places want $2k - $3k down, just to start the lease.  At auction, you can get a nice, near-new verhicle for $5k or less.  

My truck has over 120k miles, still running perfectly.  I bought it used for $2500 when it had 30k miles on it.  I see my family making car payments every month and I just shake my head.  Lease seems even more crazy to me.  Cars should last you 10-12 years.
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candidizzle

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Re: Lease or Buy
« Reply #5 on: July 17, 2008, 08:58:32 PM »
3 new vw's for under 200 a month !!!!!!!
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body88

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Re: Lease or Buy
« Reply #6 on: July 17, 2008, 08:59:38 PM »
Quote from: 240 is Back on July 17, 2008, 08:54:10 PM
Buy cheap and easy to fix.  Dealers are desperate right now.

Dealers make a lot more money off used cars.
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Disgusted

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Re: Lease or Buy
« Reply #7 on: July 17, 2008, 09:00:37 PM »
I wish there was a good electric car out there.
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calfzilla

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Re: Lease or Buy
« Reply #8 on: July 17, 2008, 09:01:50 PM »
Listen to 240
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benchmstr

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Re: Lease or Buy
« Reply #9 on: July 17, 2008, 09:02:18 PM »
Quote from: Disgusted on July 17, 2008, 09:00:37 PM
I wish there was a good electric car out there.
go get yourself a motorcycle.

bench
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body88

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Re: Lease or Buy
« Reply #10 on: July 17, 2008, 09:02:28 PM »
Quote from: Disgusted on July 17, 2008, 08:52:34 PM
OK so I have never leased a car before, but I am thinking about it. I mean after 4 or 5 years the car isn't worth a shit anyway so I am undecided. Any advice?

Depends on how you feel about cars. If you see it as point a - Point b, then don't lease anything. If you feel your wheels are more than than that, work out what you can afford per month.

Dealers are not making the type of money they used to. You can get a cars invoice, and learn about factory incentives online. Most dealers are desperate to move cars, so they will work with you to give you a fair deal, if you know your shit.

Profit margins are razor thin for dealers right now, and they know they can't fuck with people as much anymore.
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Disgusted

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Re: Lease or Buy
« Reply #11 on: July 17, 2008, 09:03:13 PM »
Guess I won't lease then, I hear all the time how bad it is to lease just thought maybe things were different now.
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body88

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Re: Lease or Buy
« Reply #12 on: July 17, 2008, 09:05:00 PM »
Quote from: Disgusted on July 17, 2008, 09:03:13 PM
Guess I won't lease then, I hear all the time how bad it is to lease just thought maybe things were different now.


Beware when buying a used car from a dealer ( thats where they make the most money)... They take a trade in for well below market value, then sell it for thousands more.

You can really work with them on used cars. I have seen people who know thier shit, get nice used cars for over 5k below what the dealer was asking.
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240 is Back

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Re: Lease or Buy
« Reply #13 on: July 17, 2008, 09:05:20 PM »
If you're a single guy with good money, leasing isn't a bad option.  I'd love to live in a condo, lease a stress-free car, etc.

I love auctions for cars.  My dad regularly buys them at auction, fixes them up for a few days, and re-sells to individuals in the paper or dealers at $1000 or more markup.  You can get some STEALS there.  He's driving a brand new mini-van (granted, it's a minivan lol)... a 2007 with maybe 10k miles... got it for 2500 at auction.  You can't beat that.  That thing will last him 20 years, if he chooses.  Or he can sell it to elderly couple in newspaper for $4500 easily.  
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elite_lifter

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Re: Lease or Buy
« Reply #14 on: July 17, 2008, 09:07:34 PM »
If you want to drive a new car every 1, 2 or 3 years lease. I you don't care about what you drive buy. Lease is just like a rental. Nice to never have to be responsible for anything that breaks when you lease, all covered.
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gordiano

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Re: Lease or Buy
« Reply #15 on: July 17, 2008, 09:07:57 PM »
Quote from: 240 is Back on July 17, 2008, 08:58:07 PM
sorry - my advice is don't lease.  many places want $2k - $3k down, just to start the lease.  At auction, you can get a nice, near-new verhicle for $5k or less. 

My truck has over 120k miles, still running perfectly.  I bought it used for $2500 when it had 30k miles on it.  I see my family making car payments every month and I just shake my head.  Lease seems even more crazy to me.  Cars should last you 10-12 years.

Yep, me too.

As long as I can help it, I'm never buying (I.E. traditional car payments) a car the way your average Joe does, again.

It is silly. Bad investment, all the way around. Besides, I don't care about "looks" or "bling", so having nice running cars works for me.
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elite_lifter

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Re: Lease or Buy
« Reply #16 on: July 17, 2008, 09:10:04 PM »
Quote from: candidizzle on July 17, 2008, 08:58:32 PM
3 new vw's for under 200 a month !!!!!!!
Junk, I would never buy VW.
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calfzilla

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Re: Lease or Buy
« Reply #17 on: July 17, 2008, 09:11:41 PM »
If you buy a car don't get any of the extra crap you have to pay for like extended warranty, rust proofing, maintenance package.  Dealers make little money on selling a car, they make their money on these extras and high interest rates. 
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elite_lifter

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Re: Lease or Buy
« Reply #18 on: July 17, 2008, 09:13:08 PM »
Quote from: calfzilla on July 17, 2008, 09:11:41 PM
If you buy a car don't get any of the extra crap you have to pay for like extended warranty, rust proofing, maintenance package.  Dealers make little money on selling a car, they make their money on these extras and high interest rates. 
True, tell to finance manager to fuck off with the extras.
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Disgusted

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Re: Lease or Buy
« Reply #19 on: July 17, 2008, 09:17:36 PM »
I once had a saleman try and make me pay for some kind of advertising fee. I just laughed at him, seriously.
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nicky.smth

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Re: Lease or Buy
« Reply #20 on: July 17, 2008, 09:18:01 PM »
Lease a car and drive worry free for the duration of the lease...It's only money ;D


The car still depreciates at the same rate no matter if you own or lease it
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knny187

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Re: Lease or Buy
« Reply #21 on: July 17, 2008, 09:18:46 PM »
lease if you don't drive alot of miles

buy otherwise


also...

never buy a car thinking it's an investment

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nicky.smth

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Re: Lease or Buy
« Reply #22 on: July 17, 2008, 09:22:18 PM »
Quote from: 240 is Back on July 17, 2008, 09:05:20 PM
If you're a single guy with good money, leasing isn't a bad option.  I'd love to live in a condo, lease a stress-free car, etc.

I love auctions for cars.  My dad regularly buys them at auction, fixes them up for a few days, and re-sells to individuals in the paper or dealers at $1000 or more markup.  You can get some STEALS there.  He's driving a brand new mini-van (granted, it's a minivan lol)... a 2007 with maybe 10k miles... got it for 2500 at auction.  You can't beat that.  That thing will last him 20 years, if he chooses.  Or he can sell it to elderly couple in newspaper for $4500 easily.  

Jesus 240 you must have a lot of money...Your quite the thrifty guy..That's a good thing i guess
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240 is Back

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Re: Lease or Buy
« Reply #23 on: July 17, 2008, 09:23:34 PM »
Quote from: nicky.smth on July 17, 2008, 09:22:18 PM
Jesus 240 you must have a lot of money...Your quite the thrifty guy..That's a good thing i guess

I'm practically a thousandaire :)

I am a scrub, sure.  But I want to retire at a decent age and spend my days traveling the world, posting on getbig from internet cafes all over the globe.
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nicky.smth

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Re: Lease or Buy
« Reply #24 on: July 17, 2008, 09:24:09 PM »
Magnum it really depends on how much you are to drive...How big of a down payment you're going to put down and if you plan on financing the purchase/lease of the losing asset(car)?
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