hi guys,
so far i can't see an advantage of buying over leasing..

lease - lower monthly payments, new car every 3 or whatever years

for the modders.. you still gotta take the parts off when you trade your car in or when you sell it.. its the same with a lease..

any real advantages?

 

My opinions,

1: You will own the car after 3-5 years.
2: Makes no sence to MOD a car that is a lease.
3: You loose allot of money on the parts you MOD, Labor, & Labor to remove.
4: The dealer may give you S*** for mods. Since its "not" your car.
If If you love the car as much as i do, no need to get another in 3 years.
5: You come out of a lease having nothing, but made pmt. for 3 years.

 

yea but after the lease period, if you kept the car, you would probably start having headaches with repair and stuff

 

If you can put enough down its better to buy. If you can't afford to put enough down; you probably should be buying something cheaper. When you lease a car every penny you put into it you NEVER get back. Not to mention people's lives often change unexpectedly during the term of the lease forcing a lot of extra costs due to the change in mileage. Just because you want to buy a new car every 5 years doesn't mean you should lease either. Numerous studies show that once you buy a car and trade it in every 5 years, the value of your trade grows compared to the last car you traded in. The idea is once you buy a car you will never have to save up a down-payment again since you can always trade the car in... At the same time you have an asset as opposed to only a liability with a lease. If you loose your job and you are forced to sell your car you can always downgrade; with a lease you're still stuck with the payments.

 

Its all depends on one's situation, form financial point? its pretty close! recently I got an new G, trading in my old G, they offer me an lease term of 465 for 48/mos for 15k/yr and residual of around 17800~ish, with 2000 out of pocket, and to purchase? it would be 657 for 60/mos...192x48 is 9216 plus 657x12(7884) is 17100, so either you walk away after 4 yrs lease or you have pay 17100 more to own the car can someone guarantee me that G is gonna be worth 17Gs after 5 years? its just to break even! but its not good idea if you going to purchase that car after the lease is up, cus you have to pay the finance chargs on that residual amount

as far for MOD goes? either way you gonna loose the money you put in, and who say you can not sell the car when its a 'lease"? show me whoever have good amount of equity on their car for first three years! with reasonable down of course ' G have such high resale value, its even better idea to lease cus higher residual lower the payment......BUT, of course I didnt lease it.

 

I think everyone here makes a good point....I leased my G...i love the car just as much as the next person in here...but like some have said it depends on the situation....i was able to afford a down payment to own the car...but after doing much research on leasing and buying leasing the G was a better deal for me. I didn't have to put as near as much down as i would have if i bought the car...I put about 1k dwn and have 475/mth payments...if i bought it i would've put about 5-6k in order to get my payments lower...then i'd be out of some savings...so if you do the math the lease worked out for me and i have money for those "unexpected" days...IMO my lease will be up when the 2nd yr GT-R is hopefully out so it gives something for me to look forward to. If you think about it...buying a car, racking up the miles, the repairs starting to hit in...sooner or later you're gonna have to buy a new car....and you're back at square one....i don't understand the need of "owning" a car....if it was a house that's a different story....that's something you don't lease IMO....Now as far as modding goes...just stick to the simple stuff you can do yourself...like...exhaust....rims...intake....i plan on doing at least exhaust and rims....just for looks ya know...anyways sorry for the long post...

 

I was close to leasing but I didnt..

Factors to think of:
1.Mileage
2.Wear & Tear Fees( a 3+ year old car will have somekind)
3.Insurance is higher
4.Hidden fees (when giving the car back)

My friend had a 330 bmw modified and the dealer gave him a hard time to take the car back because of the mods... LEASING should be your very last option.. at least IMO

 

well, something from the left field to think about. If you own your own business - leasing is tax deductable. Talk to your accountant

 

Your math is flawed. You didn't take into account that when comparing leasing to buying, you're still going to have to pay for something to drive during that additional 12 months of paying off the car. If you assume that you get another lease at 465 per month, you're paying 11.5K more to own. Run what it looks like to then keep the car for a year after you've paid it off or [gasp] pay it off a year or two early and drive it for another couple years. That's why leasing is a crappy deal unless you have to have a new car every 3 years.

 

Of my past 6 cars, the longest I had any one of them was 6 years, with 4 years being the norm. A lease should be for me, right? *pffffffft*

With a lease, you can either turn in the car, pay and still have no trade-in, or if you want to keep the car you can finance the remainder... ...which suddenly means you're carrying a note for 6-7 years instead of 5... ...AND you're still building equity more slowly.

At least with buying you can generally get out from under the car within 3 years, 4 max and have enough equity to use on trade-in. Obviously, the type of car can throw this off. Such would be the case with an '03 Chevy Cavalier that sales for $13000 and won't fetch more than $7000 in 2 years. It's a losing battle from the start. But if you purchase (and aren't upside down going in) you will build equity in the G if you take care of it. This is rarely the case with a leased vehicle!

Your goal with each vehicle should be to increase your overall equity by the time you trade it in on the next one. You can snowball things until you can afford what was out-of-reach only years before. Such is the case with me and this G. I did really good on the last car and so I'll drop $10K down to keep my monthly payments below $500 for the G.

The BEST advice so far, IMO, has been from Beowulf. If you can't afford to put enough down to bring the monthly payment on a purchase to within your range, that should be the first clue that you're shopping beyond your means. If you can swing the payment, then you might want to look at your purchase and lease options, but a lease shouldn't be used to get you into a car that you can't otherwise afford. You'll only dig yourself deeper into that hole.

 

That depends how you look at it when purchase, after 4 yrs you will still owes around 7 thousand, add that to the 9216 that you've "over" paid!...well, for me, I havent keep my last three car more than four years!, so far the G has keep up the resale vaule pretty well, but in couple of years when bunch of lease return hit the market? surely you will see decent drop in resale value, with lease? you are lock in the 'residual value".

 

having bought, sold, traded, and leased various cars over the years; i've learned a few things.

leasing is tricky, there are many more ways to get the shaft when negotiating a lease... when purchasing you only have to watch out for interest (money factor in a lease), trade in, and price; when leasing you also have residual value, lease term, and mileage. absolutely, positively, do not let a salesman play the "how much can you afford each month" when talking leases. if you tell them you can afford xx per month, it will cost you xx. tackle the variables one at a time starting and pay attention to make sure they don't change them later on.

i lease my cars for the most part. i fit the mileage profile for a lease, i like the lower payments, and plan to turn my cars around in 3 years or so anyway. i always do the math beforehand to see which makes more sense, lease or buy... under the right circumstances and with good negotiating, you can come out ahead of the game in a lease, especially with a car that holds it's residual value as well as a G35.

the worst thing you could ever do is buy out your lease early and then sell it shortly after...

btw, i've never heard of leasing having an impact on insurance premiums. i guess it depends on state and company.

 

the finance company require you to have centain limit of insurance, like 100/300 body injury...that cause the higher premiums

 

There's one other option that's better, CPO. The best of both worlds.

 

ahh, i have those regardless. i'm a homeowner and would like to keep my house in the event of a really bad accident.