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why is xo against leasing cars?
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Date: February 24th, 2018 7:41 PM Author: pale house some arent terrible deals. you dont have to worry about maintenance and can get a new car every 3 years (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35479921) |
Date: February 24th, 2018 7:41 PM Author: pale house lol at used car cucks buying a car where some other man has had sex in the backseat. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35479926) |
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Date: February 24th, 2018 7:43 PM Author: Mustard Kitty Cat Legend It's a financially retarded move for anyone who drives even an average amount of miles. My friend's idiot paralegal GF just turned in her Cadillac ATS and owed like $4k in overages! (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35479935) |
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Date: February 24th, 2018 7:51 PM Author: yellow therapy That's easy to avoid. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35479985) |
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Date: February 24th, 2018 7:52 PM Author: beady-eyed medicated locale internal respiration if you have a short commute. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35479994) |
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Date: February 24th, 2018 7:57 PM Author: Excitant ticket booth Or if you lease again from the same dealership. They'll usually wipe away overages unless they are insane (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480042) |
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Date: February 24th, 2018 8:00 PM Author: crawly prole sound barrier Uh, why would they wipe away money you owe them unless you were signing up for something at a greater cost (iow, you paid that money anyway)? (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480072) |
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Date: February 24th, 2018 8:02 PM Author: Excitant ticket booth ... cuz they'll make more money over the long run by retaining you as a customer than gashing you for a few grand at one point. tons of companies waive fees they are otherwise entitled to if you'll re-up as a customer (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480079) |
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Date: February 24th, 2018 8:02 PM Author: crawly prole sound barrier Except that if you didn't have those fees you could negotiate better lease incentives. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480084) |
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Date: February 24th, 2018 8:03 PM Author: Excitant ticket booth Not actually true. The world isn't rational (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480090) |
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Date: February 24th, 2018 8:11 PM Author: crawly prole sound barrier The world of car dealers is incredibly rational. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480148) |
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Date: February 24th, 2018 8:47 PM Author: Glittery Affirmative Action Oh look, a retard! (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480435) |
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Date: February 24th, 2018 9:03 PM Author: crawly prole sound barrier Nah, you guys are just beating the system! Totally NOT wasting money! (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480519) |
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Date: February 24th, 2018 9:05 PM Author: Glittery Affirmative Action And you aren’t a 110 IQ compliance officer!!!! (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480537) |
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Date: February 24th, 2018 9:06 PM Author: crawly prole sound barrier LOL, I'm actually not. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480540) |
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Date: February 24th, 2018 9:36 PM Author: Glittery Affirmative Action lol, indeed. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480702) |
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Date: February 24th, 2018 11:03 PM Author: Thirsty boyish antidepressant drug tanning salon ljl at this goy logic. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35481242) |
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Date: February 24th, 2018 9:27 PM Author: yellow therapy If you have a long commute, you elect a lease with more mileage, which isn't very expensive.
If your circumstances change during what was supposed to be a low mileage lease, consider buying the car at the end of the lease, selling it, and avoiding the fee. |
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Date: February 24th, 2018 7:53 PM Author: Light rehab 4k in overages is not really standard fare for a lease tho. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480008) |
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Date: February 24th, 2018 7:54 PM Author: Light rehab it only makes sense if you're the type of person to switch cars every few years. if you do that, then it can make a lot of sense.
switching up cars once every three years at the top of the deprecation curve is a stupid thing to do in itself though. |
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Date: February 24th, 2018 7:57 PM Author: Trip blathering temple so how is it worse than the guy trading for a new car every 1, 2 or 3 yrs paying cash (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480045) |
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Date: February 24th, 2018 7:58 PM Author: Excitant ticket booth It's probably a wash (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480052) |
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Date: February 24th, 2018 7:59 PM Author: crawly prole sound barrier It isn't necessarily, but that is just a retarded practice. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480062) |
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Date: February 24th, 2018 8:00 PM Author: Light rehab i haven't actually been in the situation to do this myself, but from what i understand with lease incentives you can usually save yourself a few thousand dollars between leases compared to buying and selling cars every 2 or 3 years. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480066) |
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Date: February 24th, 2018 8:01 PM Author: crawly prole sound barrier But the real issue is that getting a new car and then getting another one after 1-3 years is totally irresponsible behavior. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480078) |
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Date: February 24th, 2018 8:02 PM Author: Excitant ticket booth Not if a few grand over a few year period isn't a huge deal to you. In other words, if you aren't a poor (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480088) |
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Date: February 24th, 2018 8:05 PM Author: Mustard Kitty Cat Legend If you're a nigger. A non-poor would take the few grand over a few years and roll it into real estate or index fund investments. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480102) |
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Date: February 24th, 2018 8:05 PM Author: Light rehab I guess I'm xo poor, but I would never do this and we make over 200k a year and we'll likely be close to 300k in a few years. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480104) |
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Date: February 24th, 2018 8:10 PM Author: crawly prole sound barrier Next year I'll be getting a car that costs six figures new. Not poor but wasting money is stupid. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480142) |
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Date: February 24th, 2018 9:35 PM Author: yellow therapy "a car that costs six figures new"
https://ebay.com/itm/2006-Mercedes-Benz-S-Class-S65-AMG/232668321908 |
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Date: February 24th, 2018 9:43 PM Author: crawly prole sound barrier https://www.cars.com/vehicledetail/detail/727254603/overview/ (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480736) |
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Date: February 24th, 2018 8:13 PM Author: Gaped Organic Girlfriend it's asinine (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480166) |
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Date: February 24th, 2018 8:04 PM Author: Light rehab agreed, i'm actually of the opinion that buying a new car is a bad route almost always (exceptions include things like the new prius prime with oodles of incentives). (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480096) |
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Date: February 24th, 2018 8:08 PM Author: crawly prole sound barrier Well, the benefit of used has decreased dramatically as people have caught on. For a Japanese car you probably should be buying new at this point. For others, you have to compare incentives for new vs. benefit of used.
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Date: February 24th, 2018 8:16 PM Author: Light rehab counterpoint, if you're in the market for an economy car, a 5 year old civic costs $7,500 with about 65k miles. if you're a true poor (which is who is looking at these) getting a 5 year old civic is a ton cheaper than a new one, which is probably gonna cost at least 10k more. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480191) |
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Date: February 24th, 2018 9:40 PM Author: yellow therapy If used and new are close in value, that makes leasing cheap. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480723) |
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Date: February 24th, 2018 8:15 PM Author: Trip blathering temple now imagine your time is more valuable than being a grease monkey doing the off-warranty repair/maintenance work on your 8-13 yr old jeep (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480182) |
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Date: February 24th, 2018 8:17 PM Author: Salmon confused center patrolman spin, ratfucks (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480195) |
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Date: February 24th, 2018 8:20 PM Author: Trip blathering temple going that route will quickly cancel whatever savings you were going for (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480232) |
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Date: February 24th, 2018 8:49 PM Author: wonderful gas station rigor not true. and i drive a 15 year old jeep (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480452) |
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Date: February 24th, 2018 8:51 PM Author: crawly prole sound barrier Mine is a 2013, bought in 2014 (at a huge discount, added a lifetime manufacturer's warranty for like $2400). I've had it for 4 years, paid little in maintenance/repair. It is at over 100k miles already because I drive a ton. Now, you would have replaced your car twice by now, losing money each time. I will get a newish car next year and keep this car as a second car.
As a bonus, I drive a car that cost over $50k new that is incredibly nice with a powerful V8 that I enjoy.
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Date: February 24th, 2018 9:04 PM Author: Trip blathering temple -I've had it for 4 years, paid little in maintenance/repair. It is at over 100k miles already because I drive a ton.
of course, its still fucking warrantied. so you bitch about leasing because it simply isnt even remotely applicable to you
-Now, you would have replaced your car twice by now, losing money each time.
wrong. once and my smartly negotiated close to 0% lease is hardly "losing money," esp in an inflationary environment
-I will get a newish car next year and keep this car as a second car.
thats fine. again, not all of us wish to live in a junkyard setting with shitpits roaming around |
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Date: February 24th, 2018 9:15 PM Author: crawly prole sound barrier "of course, its still fucking warrantied. so you bitch about leasing because it simply isnt even remotely applicable to you"
No, I'm noting that the response that you're going to get your advantage eaten in repair/maint is nonsense, and that is despite heavy use.
"wrong. once and mine would have had a fuckton more residual value"
Once every two years, it is just over 4 years, so you would be driving car #3 while I'm still on car #1.
"thats fine. again, not all of us wish live in a junkyard environment with shitpits roaming around"
Their names are Dima and Vlad and they're fantastic bros. No one steals from us! Also, it is not junkyard, it is former gas station.
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Date: February 24th, 2018 9:21 PM Author: Trip blathering temple -No, I'm noting that the response that you're going to get your advantage eaten in repair/maint is nonsense, and that is despite heavy use. uh dumbass, your car isn't off warranty.
-Once every two years, it is just over 4 years, so you would be driving car #3 while I'm still on car #1.
lease is 3 yrs brah |
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Date: February 24th, 2018 9:22 PM Author: crawly prole sound barrier Only because I paid for the warranty, but still came out ahead. I still pay for maint out of pocket.
Depends on the lease. Some were talking about 1-2 years. |
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Date: February 24th, 2018 9:43 PM Author: Trip blathering temple what is the standard warranty on a jeep? (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480740) |
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Date: February 24th, 2018 9:45 PM Author: crawly prole sound barrier I don't even know. Truthfully, not buying the lifetime maxcare warranty is retarded. One of the best argument for a Jeep is that a legit manufacturer's lifetime warranty exists at a reasonable cost. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480747) |
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Date: February 24th, 2018 7:59 PM Author: crawly prole sound barrier tcr (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480060) |
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Date: February 24th, 2018 8:13 PM Author: Swashbuckling indecent cruise ship tank Cr (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480163) |
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Date: February 24th, 2018 7:56 PM Author: Excitant ticket booth It's not? Way more people here lease than the general population (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480038) |
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Date: February 24th, 2018 7:59 PM Author: Lavender charismatic pozpig i fyou own a business its stupid not too and write off the entirety of the lease (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480056) |
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Date: February 24th, 2018 8:05 PM Author: balding fiercely-loyal den macaca you have to be really careful with that. the irs will hit you hard. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480100) |
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Date: February 24th, 2018 8:06 PM Author: Lavender charismatic pozpig give me tips, pretty much every thing i drive to is work related in some fashion
how to not get pwnd by TAXFAGGOTS |
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Date: February 24th, 2018 8:12 PM Author: balding fiercely-loyal den macaca STEP ONE: DON'T GET AUDITED. (HOW? DON'T DO STUPID SHIT LIKE THIS) (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480156) |
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Date: February 24th, 2018 8:16 PM Author: appetizing reading party I barely know anyone who leases and have ALWAYS heard that it's a bad decision unless you "own a business" and can "write it off."
The other time it's credited imho is for when you already would've traded the Car in after 2-4 years for whatever reason (like if you are a fan of German cars/Land Rovers/what have you)... if the lease is structured such that you're only paying for the depreciation, then you might come out ahead... remember, if you buy a car, you're paying sales tax on the whole thing, versus on a lease where you only pay tax on the lease payment afaik. Also, the residual value is a done deal as soon as you sign the thing, and not like trying to trade in a Car, where the dealer tries to fuck you over at all costs. |
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Date: February 24th, 2018 8:32 PM Author: Lavender charismatic pozpig tax wise best thing ive heard is to lease a huge vehicle like Range Rover to take advantage of Bush 2 tax credits for gas guzzlers after 9/11 (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480333) |
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Date: February 24th, 2018 9:48 PM Author: yellow therapy "If the lease is structured such that you're only paying for the depreciation,"
With the exception of fees and taxes, leasing is essentially financing depreciation. |
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Date: February 24th, 2018 8:23 PM Author: unholy marvelous athletic conference I am going to be driving a max of 3k miles per year (to and from train station). I was considering leasing a civic or corolla so I can avoid having to worry about maintenance, but I would consider buying something cheap if it will last me for 5-6 years. Any suggestions? (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480265) |
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Date: February 24th, 2018 8:26 PM Author: Light rehab 2007 Honda Accord 4 cylinder. Thing is rock solid and you can get one for under 5k, make sure the major maintenance that happens around 100k miles has already been done. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480283) |
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Date: February 24th, 2018 9:57 PM Author: yellow therapy Bushings, starters, pumps, clutches (where present), CV joints, struts, shocks, and various suspension bits start going out around then. You'll never find a car that has recently had all those components replaced, so you'll have to plan on taking care of some of them (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480825) |
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Date: February 24th, 2018 8:44 PM Author: lilac national juggernaut How is maintenance less of a worry for a lease compared to buying new? You still need to take it in for oil changes periodically don't you? (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480416) |
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Date: February 24th, 2018 8:53 PM Author: Motley shrine It really comes down to how often you want a new car. If you're the type who keeps cars for 8-10 yrs, leasing doesn't make sense. However, if you want a new car every year or every other year, it makes sense. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480466) |
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Date: February 24th, 2018 8:53 PM Author: Zombie-like stain overages from excess wear and tear? (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480471) |
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Date: February 24th, 2018 8:57 PM Author: black state liquid oxygen Leasing makes sense if you're like me and dont drive a lot (under 10k miles a year) and yet dont want to keep the same car for more than 3 years. Otherwise LJL at leasing. The worst part of leasing isnt even the lease costs but the insurance they make you get with a lease. They make you get the highest coverage possible -- $300k/100k. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480492) |
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Date: February 24th, 2018 8:59 PM Author: razzle corn cake The worst part about leasing is having to deal with car salesmen more frequently than once every 10 years. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480502) |
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Date: February 24th, 2018 9:05 PM Author: beady-eyed medicated locale internal respiration (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480534) |
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Date: February 24th, 2018 9:06 PM Author: crawly prole sound barrier (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480539) |
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Date: February 24th, 2018 9:07 PM Author: Trip blathering temple (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480548) |
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Date: February 24th, 2018 9:59 PM Author: yellow therapy That isn't the highest coverage possible, not even close.
Besides, insurance isn't that expensive for most people who aren't complete fuck ups, and what professional wouldn't be carrying that much coverage anyway? |
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Date: February 24th, 2018 9:39 PM Author: irradiated indirect expression point Lease to buy out is a good way to get a 0% car loan for 3 years since you can make a bunch of security deposits to get the money factor to 0. That’s why we are leasing with plan to buy out at the end of the lease. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480714) |
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Date: February 24th, 2018 9:41 PM Author: Glittery Affirmative Action *Slides a white cock into your whore chinklet mouth* (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480728) |
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Date: February 24th, 2018 9:42 PM Author: yellow therapy But you have to do the math on the opportunity cost of the extra security deposits. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480732) |
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Date: February 24th, 2018 9:50 PM Author: irradiated indirect expression point I put down a security deposit of $4k for a $54k car (MSRP $62k). Opportunity cost of $4k not being invested for 3 years is nothing compared to cash for $54k car or a 3-4 year loan for the full amount. Security deposit would also be a lot less for a cheaper car. The cheapest loan I could find was roughly 1.75% right now.
You can’t negotiate away the bank fee associated with the lease but you can ask the dealer to get the selling price lower to account for it. This is the first time I’ve leased and after doing extensive research on it, it’s not always a bad deal. You just have to get MF to 0 and residuals change month to month. |
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Date: February 24th, 2018 10:22 PM Author: yellow therapy We're just taking about whether to make extra security deposits on a lease.
You'd compare the opportunity cost of the deposits to the interest/MF on the depreciation.
If your car had a residual value of 58% ($36k), you'd be financing about $18k for 3 years. If the normal interest rate for no extra deposits was 2.5% (money factor 0.00104), you'd pay about $700 in interest. But you'd be paying that with about $1,170 in pre-tax earnings.
So what's your opportunity cost on $4k? If you'd get 8.0% per year, that's about $1,040 in forgone pre-tax returns.
So it's pretty close to a wash. |
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Date: February 24th, 2018 9:41 PM Author: grizzly garrison haunted graveyard Unless there is some tax advantage leasing is for poors.
If you can't afford to pay cash buy something cheaper. |
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Date: February 24th, 2018 9:45 PM Author: Trip blathering temple oh look, a dave ramsey listener. (http://www.autoadmit.com/thread.php?thread_id=3903089&forum_id=2#35480750) |