/biz/ - Business & Finance

[Anonymous No.15267917]

Does it ever make financial sense to lease a car?

[Anonymous No.15267927]

>>15267917
>fiesta
faggot

[Anonymous No.15267928]

>>15267917
How is a car loan different? Pls someone redpill me

[Anonymous No.15267957]

In pa you need to have higher limits as well

[Anonymous No.15267959]

>>15267917
if you have a company yes, you can deduct it as a business expense

[Anonymous No.15267973]

I've had 2 3-year leases. I got them both on manufacturer's incentive deals, like the one you linked in your pic. My most recent was a nissan altima for $211 per month with 2500 down. If your goal is to drive a reliable newer vehicle without a high monthly payment, it can be a good deal. If your goal is to drive as cheap as possible, it's nowhere near the best deal. So I guess it depends on what you want.

[Anonymous No.15267976]

>>15267917
no

[Anonymous No.15267990]

>>15267917
Replace the word "Lease" with "Rent" and then ask yourself if you think it's a good idea.

[Anonymous No.15268061]

>>15267973
This. Did it once for 2 years after hassle with old car. I have a short commute, low expenses so this little luxury was worth it for me.

Look for deals. If you're not bothered you can get last years for less.

[Anonymous No.15268277]

Remember

Rich people rent. Poor people own.

[Anonymous No.15268352]

>>15268277
no

[Anonymous No.15268362]

>>15267928
Leasing, you pay a smaller amount but don't own the car at the end of the lease(usually 2 years 3 years). You can choose to renew the lease, get a new lease(for a new car), or walk away.

Loans obviously are a higher payment but you own at the end of the payments.

[Anonymous No.15268383]

>>15268277
this is the kikeiest thing ive ever heard

[Anonymous No.15268398]

No got fucked leasing ONE time, never again. Was worth the lesson, got such a good deal on our house because ever since that lease we are the most annoying fucking people to sell to.

BUY a car, and never buy the current year model. You can buy a literal brand new car from last years line at half price of the new one, often times the new car is no different than the last one minus a few minor differences, car companies only ACTUALLY update models every 3-5 years.

[Anonymous No.15268430]

>>15267990
For an asset that ultimately depreciates unlike a house/land, renting is not a bad idea. In fact, its a good idea if the payments are significantly lower than paying a car loan and the asset depreciates super fast, like an economy car. It's a bad idea for cars that don't depreciate in value fast enough though like lambos, or if the lease costs aren't properly scaled to how much the vehicle will depreciate such that it would have made more sense to have taken out the loan and sold the car two to three years later.

[Anonymous No.15268434]

>>15267917
Never. If you want low monthly payments, you’re going to spend the same amount going to enterprise or similar place that sells used rental cars. They are always only 2 years old w limited miles (because rental agencies only want to rent brand new low mileage cars). You’ll be able to get a payment of 200$ a month, only thing is at the end of the term you get to keep your car. Buying yourself time will never make you rich.

[Anonymous No.15268464]

In my experience depends on your goals. If you want value, LT car like a Toyota or Honda you should buy so post payoff you have years of return maybe you can gift your kids the car. If you want the best and coolest for fun as a cycle lease so you can churn. The ROI is nothing but is offset by getting a new car every 2 years. Depends on financial situation anon

[Anonymous No.15268474]

Leasing never makes sense. You are literally paying for the depreciation. Think about it. If leasing was really a better deal why would car dealerships do it? Because it makes them more money. You pay a fee for 2-3 years, you can't drive it over a certain number of miles or there is a fee, you will get charged for every ding, scratch, and dent at the end. And at the end. You have nothing. $0.

Its the least money up front, but as soon as you drive it off the lot you lost. You are much better off a car you can buy in cash then having no payment. You can get a reliable car that will require $0 in repairs, for less than $5k, You'll only have to pay for gas and oil changes, which you have to pay in a lease anyway. You OWN the car. You can drive it however much you want. You can ding it, bump it, scratch it, and not 2 fucks will be given. You can drive it for 10 years and have $0 car payment.

[Anonymous No.15268519]

If you would otherwise buy a new car every 3 years, then yeah, you might as well lease.

If you are looking to minimize your car expenses, then no. And if you are really committed to making the most *financially sensible* decision in regards to car expenses, I hope you enjoy driving that same car for the next 20 years, because cars today are significantly more reliable than the cars of yesteryear, and they generally hold up fairly well to 200-300k before it's worth replacing them.

[Anonymous No.15268536]

>>15267917
imagine believing that owning a depreciating asset is a good thing

especially when you can rent the same asset for less, under warranty, and then trade it in and make it someone elses problem when its old

just imagine

[Anonymous No.15268569]

>>15267959
This. Also, you rarely have to worry about fixing anything, and if you do it's generally covered under warranty. If you really do use the care for business it saves you a fuckton of time and money.

[Anonymous No.15268572]

>>15267917
No it's like a credit card. Just buy a shit car, save save save, then sell your car and buy what you want. You can just repeat this cycle and always sell you old car and always have something nice.

[Anonymous No.15268589]

Here's the crash course.

<----------buying

[Anonymous No.15268590]

>>15268536
>imagine believing that owning a depreciating asset is a good thing
Depreciation means nothing unless you sell soon after purchasing. Or if you buy used, which is a better move money-wise.
If you keep your car forever, the depreciation is meaningless. You've long since gotten your money's worth, and aren't subject to endless cycles of lease payments which ultimately outpace the depreciation of the car you could have bought.

[Anonymous No.15268598]

>>15267917
No, buy a 2016 Corolla with 50K miles for 9K. Drive to 100K miles and sell 4 years later for 6.5-7K.

[Anonymous No.15268599]

<--------leasing

who do you want to be OP

[Anonymous No.15268600]

>>15268434
>Enterprise
Don’t rental cars get absolutely trashed, though? I mean, the renters don’t own it, and their rent includes the maintenance on it, so they don’t give a fuck about it.

[Anonymous No.15268670]

Lease hacker forum

Dig around there for answers. Can also get some killer deals too depending on where live. They had insane bmw leases a couple months ago. Like get a bmw for a honda accord prices. Personally only know because with a kid now, the sedan trunk space isn't cutting it; looking to get into a truck or suv.

[Anonymous No.15268671]

>>15268536

The dealership is just charging you for that depreciation, retard. Whatever you pay in a lease, is more than the dealership loses in depreciation, otherwise they wouldn't have leasing, let alone shill it so much. Because leasing is profitable for the dealership. You are paying for the depreciation and the dealer's profit margin, because you are too stupid to know, or want to drive a car you can't really afford.

Leasing is worse than just buying new. Because at the end, yeah, you suffered the depreciation, but you didn't pay the dealership's leasing profit margin. You also can drive the car any amount you want and don't have to worry about damaging it.

The only legitimate, logical, argument I've heard in favor of leasing is from rich people who are literally too lazy to care about owning a car. They just lease a new one every 2 years. But they are fully aware of how bad a deal it is, they just don't care. Its purely a convenience thing for them.

[Anonymous No.15268676]

>>15268598
>2016 Corolla
>50k miles
>$5k
Where can I find such a deal?

[Anonymous No.15268688]

If you are a high mileage driver then leasing makes a lot of sense.

[Anonymous No.15268729]

>>15268688

No, because leasing has mileage limits.

[Anonymous No.15268734]

>>15268671

oh no, i don't have equity in a high mileage piece of shit. you probably clip coupons too lol.

"but but but you'll have to pay for a chipped window after 3 years!"

jesus christ.

[Anonymous No.15268752]

>>15268734
>oh no, i don't have equity in a high mileage piece of shit
That's cheaper to own than another lease.
You aren't going to sink $300 a month in repairs into a 45k car. But that's what a lease is. An endless repair bill.

[Anonymous No.15268759]

>>15268734

With standard 12k miles lease, your "high mileage" car has 24k miles after 2 year lease. Modern cars easily go to 100k miles with almost no maintenance other than oil changes and maybe tire rotations.

[Anonymous No.15268770]

Do you have to pay for maintenance when you lease?

[Anonymous No.15268789]

>>15267990
Well it would be if it meant that the dealership will handle all repairs/etc in the same way a landlord handles all repairs of your apartment when you rent

[Anonymous No.15268805]

>>15268759
We get it, you're the poor fag that brags about doing his own oil change. For some of us though, our time is actually worth money and I pay your class of people to fix my car while I go off to provide valuable services. But you saved $100 doing that transmission flush yourself, only took you all day, congrats.

[Anonymous No.15268820]

>>15268277
Dubs checked.

I thought it was the other way around, that poor people rent because they can't afford to own?

[Anonymous No.15268821]

>>15267917
>Ford Fiesta

[Anonymous No.15268832]

You can't argue for or against leasing because everyone's situation is different.

Want a new car every 2-3 years and don't drive more then 10k, 12k, or 15k miles a year then a lease makes sense. Also don't have to worry about repairs later and if depedning on terms, all maintaince is included. Be prepared to have a never ending car bill though.

Ok with not having the latest and greatest but don't want to get hosed with depreciation or initial costs. Buy a 3yr old used car with 30k miles and warranty. Pay off and hold on to it until repairs equal car payment.

Want something new. Keep that thing forever.

[Anonymous No.15268839]

>>15268805

I already said a lease could be more convenient if you don't care that its a worse deal. But OP is asking about the financials of it.

[Anonymous No.15268868]

>>15268277
rich people own land, with property, and rent that to poor people who are patting themselves on the back for knocking out that last car payment and owning that 2002 Pt Cruiser outright with all the money they saved on doing their own oil changes

[Anonymous No.15268878]

>>15268805
>I pay your class of people to fix my car while I go off to provide valuable services.
So do people who own cars. The difference being they pay less over time. The cost being the subject of the thread.

[Anonymous No.15268921]

>>15267973
>Altima

Are you by any chance a nigger?

[Anonymous No.15268936]

Yes if you are high income and are leasing high end cars. Leasing shitboxes is a no

[Anonymous No.15269198]

>>15268671
>The only legitimate, logical, argument I've heard in favor of leasing is from rich people who are literally too lazy to care about owning a car. They just lease a new one every 2 years. But they are fully aware of how bad a deal it is, they just don't care. Its purely a convenience thing for them.

>tfw that's why I lease but I'm not even rich

[Anonymous No.15269275]

>>15269198

You do sound like the stereotypical typical poorfag who has to lease their car.

[Anonymous No.15269317]

>>15268676
You can resell in 4 years for 6.5-7K.

[Anonymous No.15269340]

>>15267917
If you really want to drive a German car or a land Rover without getting financially ruined by the repairs then sure. But paying for a car you won't own eventually isn't great.

[Anonymous No.15269392]

>>15267917
I'm Australian, so the tax implications may be different. But, if one gets a car allowance for a 'tool of trade vehicle' as part of one's wagecuking job, it generally makes more sense to lease - it is more tax effective. It does however, reduce one's flexibility when leaving an employer (unless going to another job that pay a car allowance).

[Anonymous No.15269746]

>>15268599
Ah haha, it's TRUE, eventually old cars break down and dont get you laid.

[Anonymous No.15269801]

>>15268729
I drove 3000 miles last year. For a person that drives 10 to 15k it is likely worth leasing.

But really I think you have to answer a simple question. What is the maximum car mileage you would drive?

For example if you think driving a car over 100k miles is the ultimate poor fag and you drive over 10k miles a year, then yes it is worth leasing.

[Anonymous No.15269860]

>>15269801

No, its not, because again, leases have mileage limits, so to get a higher limit you have to pay more.

[Anonymous No.15269892]

>>15267917
I drive a fiesta with racing stripes and I like to think I’m a cool guy

[Anonymous No.15269905]

>>15268277
>Rich people rent. Poor people own

The only reason rich people rent is they want to be seen driving brand new cars all the time

[Anonymous No.15269911]

>>15269905
Oh and they can also put their rental car as "company expense" or some shit

[Anonymous No.15269917]

A car is a fucking tool. Buy a slightly used car for 15-20k that will last you 10+ years. Niggers

[Anonymous No.15269927]

>>15267917
Yes, If you live somewhere you do not have friends/family to pick you up or a good mechanic when you are car breaks down for whatever reason lease. If you do know a good mechanic and live near people who can help you out buy.

[Anonymous No.15270256]

>>15267917
Yes assuming you actually use proper depreciation formulas and argue with the person at the dealership to get an optimal rate. Also combine this with writing of the expense if you have your own business. Never put money down.

[Anonymous No.15270542]

>>15269860
The mileage limits are high though. 12 to 15k usually.

[Anonymous No.15270557]

Just buy some car off craigslist
I buy a 2009 Ford Fusion for 5000 and have had it for 5 years now, no intention of getting a new car until this one literally falls apart

[Anonymous No.15270617]

>>15267917
It’s an absolutely terrible idea. Even if you own a business it’s a shit idea

[Anonymous No.15270875]

I really REALLY want to get a no frills truck but I hate spending money. How good of a buy are work trucks? Like ones in a fleet. Do the businesses typically maintain them as per manufacturer's recommendations? Are they generally mechanically sound when they enter the used marketplace?

I really have no idea. My only concern is that if I were running a business that needed trucks, I wouldn't invest in new trucks unless the trucks I had were on the verge of falling apart and were in the shop so often that it would cut into the bottom line.

[Anonymous No.15270910]

>>15268805
You need to understand that every man must be able to do certain skills in life to be considered one and being able to do basic mechanic work is one them.

[Anonymous No.15270954]

Most people take out a loan on a car, then "sell" their car at the end of the loan term for a new car. It's basically leasing.

[Anonymous No.15270991]

>>15270875
Unless they're diesel, they usually enter the used marketplace after they're out of the warranty zone and prone to issues, so 100k+ miles.

[Anonymous No.15271024]

It can but only in rare situations. Like if you are living somewhere for work and it will only be 2 or 3 years, then you have to move. A lease might make sense then.

But generally no. Nothing beats buying a used car with cash, from a financial standpoint.

[Anonymous No.15271031]

>>15268277

The exact opposite of this is true

[Anonymous No.15271238]

buying and maintaining a 3-7k used car is the best long term plan. don't buy american or european junk, only japanese cars - ideally ones actually made in japan and imported.

like i said in the what does biz drive thread, lexus and toyota are the best options.

[Anonymous No.15272181]

>>15267917
rental cost for 1 day economy car $30
rental cost for 3 yrs economy car $32.850
yes if you wanna rent a car
no if you are yro

[Anonymous No.15272199]

>>15267917

nobody pointing out the fact that modern cars will be useless in 5 years? the math doesn't work out for buying a car unless you can reap the benefits for 10+ years, and when driverless cars exist who the fuck wants to own their own death machine?

[Anonymous No.15272206]

ALWAYS PAY CASH
ALWAYS BUY USED

you can skip the second rule if you're an actual hobbyist and cars are your thing. far be it form to tell people to not pursue their passion.

but never finance a car.

EVER

[Anonymous No.15272218]

>>15268474
best answer in the thread right here

[Anonymous No.15272220]

>>15272206
what about a boat?

[Anonymous No.15272241]

>>15272220
Not him but a boat is a worthless gas guzzling money pit. Buy a used motorcycle if you want a fun vehicule

[Anonymous No.15272250]

>>15272241
what about a hovercraft?

[Anonymous No.15272344]

Every time I see a commercial for one the down payment is ridiculous, $6-10k. I can't see any reason to unless you are just shitting money. If you care about having a nice car, getting a 1 or 2 year old used car is usually the best bet.

[Anonymous No.15272801]

>>15272241
t. Flyover landlocked shithole dweller

[Anonymous No.15272878]

>>15268590
The thing is you can always buy a 20 yo car for less than a grand. You are owning a piece of junk after you finish paying the car

[Anonymous No.15273799]

Everyone i know gets fucked on leases. The dealership tries to get you in one before anything else. Only people who hate buying new are poorniggers that dont put down 20% and have high interest.

[Anonymous No.15273867]

>>15267928
imagine actually taking out a loan to buy a depreciating asset

[Anonymous No.15273947]

>>15267917
Absolutely not, you are effectively taking out a loan to pay for a car during its steepest period of depreciation
Utter brainlet tier move

[Anonymous No.15274889]

>>15272344
I just googled “low price lease” or something and found my op pic, which seems like a good deal.

[Anonymous No.15274961]

>lease a car to up social status

[Anonymous No.15275047]

>>15273799
>20%
On a car??

[Anonymous No.15275335]

>>15268820
Poor people rent because they don't have money to buy. Middle socio professional categories buy, because they "don't like to throw money away". Rich people rent, because it give them the freedom to change their flat, car, whenever they want.

[Anonymous No.15275801]

Lease what depreciates , buy what appreciates. This is one of the biggest tenants you’ll learn in B school.

[Anonymous No.15275826]

>>15268671
Don’t listen to this neet.

Leasing a depreciating asset is always the best idea. Why would you want to own an asset that drops 50% within 2 years guaranteed?

Do you think they would mortgage houses, if a day after you close on the mortgage the house depreciates by 15-20% guaranteed? Fuck no.

Use your brain retards.

[Anonymous No.15276115]

>>15268600
That’s a myth. Nobody wants to pay penalties for damages.

[Anonymous No.15276198]

>>15272199
>driverless car meme
>within 10 years
Just join the space force already