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For those if you who have leased a car....
Posted on 6/19/25 at 12:55 pm
Posted on 6/19/25 at 12:55 pm
Lexus is offering a one payment lease with a nice residual around 56% at 36 months....
I have always bought, so my question is is there usually a big money fight/hassel at the end if you maintain it on schedule and stay under mileage? Or, in your experience, are the dealers pretty fair?
What about if you have a wreck during the lease?
Thanks...
I have always bought, so my question is is there usually a big money fight/hassel at the end if you maintain it on schedule and stay under mileage? Or, in your experience, are the dealers pretty fair?
What about if you have a wreck during the lease?
Thanks...
13
Posted on 6/19/25 at 1:02 pm to Tigahs24Seven
quote:
are the dealers pretty fair?
Posted on 6/19/25 at 1:06 pm to Tigahs24Seven
If you cant pay cash you cant afford it
Posted on 6/19/25 at 1:11 pm to Tigahs24Seven
I leased a 2015 Jaguar F-Type R.
MSRP was $107.
Loved the car, but got hit by a drunk driver, $11K in damage, Carfax knew.
Had it repaired by Jaguar.
Turned the car in, no repercussions
MSRP was $107.
Loved the car, but got hit by a drunk driver, $11K in damage, Carfax knew.
Had it repaired by Jaguar.
Turned the car in, no repercussions
Posted on 6/19/25 at 1:15 pm to Tigahs24Seven
I’ve never understood the business logic behind a leased vehicle. Tax write off? Shorter contract?
Posted on 6/19/25 at 1:15 pm to Tigahs24Seven
If you can afford the note (when you bought), you can afford to save the note (after paid off). Invest the note for multiple years after car is paid off. Aim to pay cash for next one or the one after…down the road.
It means holding on to car a little longer and let that money work for you. Build that wealth.
Like little soldiers fighting for you everyday.
It means holding on to car a little longer and let that money work for you. Build that wealth.
Like little soldiers fighting for you everyday.
Posted on 6/19/25 at 1:20 pm to slutiger5
quote:
I’ve never understood the business logic behind a leased vehicle.
64% of Americans trade in their vehicles within 5 years. Leasing probably makes sense if you're going to do this.
Posted on 6/19/25 at 1:22 pm to slutiger5
quote:
I’ve never understood the business logic behind a leased vehicle. Tax write off? Shorter contract?
When people have negative equity in a vehicle they bought and can't afford, sometime they will use leases as a stop gap to recoup what they lost. For others, its a way to drive more than what they can responsibly afford. For others, they have the money to throw away so it's easier to just lease a new car every 36 months.
Posted on 6/19/25 at 1:23 pm to slutiger5
quote:
I’ve never understood the business logic behind a leased vehicle.
Leases are for people who can’t afford a Dave Ramsey book
Posted on 6/19/25 at 1:24 pm to slutiger5
quote:
the business logic
Greater economic value from an asset’s use than ownership of asset.
Give or take.
Posted on 6/19/25 at 1:24 pm to el Gaucho
quote:
Dave Ramsey
Calls me for advice.
Posted on 6/19/25 at 1:30 pm to slutiger5
All those things are true.
IRS takes a lease as an acceptable business expense, as long as you claim reasonable personal use.
IRS takes a lease as an acceptable business expense, as long as you claim reasonable personal use.
Posted on 6/19/25 at 1:33 pm to el Gaucho
quote:
Leases are for people who can’t afford a Dave Ramsey book
Eh, I don’t have expensive hobbies, my vice is that I always like having a nice and new car. So I lease.
I’m fully aware it’s not the best financial decision but I’ll be alright
Posted on 6/19/25 at 1:38 pm to N2cars
Did it matter because they were drunk vs a regular accident??
Posted on 6/19/25 at 1:41 pm to Bruco
I wonder with the car market being so high right now if a 3 year lease to see how things shake out isnt better than buying a new car at a crazy high price.
Posted on 6/19/25 at 1:44 pm to Tigahs24Seven
With a one payment lease, you'll lose some of that money if you get in a wreck. Your insurance recovery may not be enough to cover the money you owe the manufacturer for the payoff on the car plus all your up front lease payment. Good stop gap insurance may help.
Posted on 6/19/25 at 1:44 pm to Lake08
Nope, not to my knowledge.
I drove the car to the dealership and dropped it off there.
I was bummed b/c i really liked that little car.
I drove the car to the dealership and dropped it off there.
I was bummed b/c i really liked that little car.
Posted on 6/19/25 at 1:50 pm to SECSolomonGrundy
quote:
I wonder with the car market being so high right now if a 3 year lease to see how things shake out isnt better than buying a new car at a crazy high price.
Can’t be any worse of an idea than those who thought they’d rent and wait for the housing market to cool.
Posted on 6/19/25 at 1:54 pm to SECSolomonGrundy
Smart thinking.
I was anti-lease for personal use forever, but now with cars going up so much in value personal-use can be a win.
Lease something that is popular, in a good color, with good options.
I know a few people that did this, and the car was worth more than the buyout at the end of the lease.
I was anti-lease for personal use forever, but now with cars going up so much in value personal-use can be a win.
Lease something that is popular, in a good color, with good options.
I know a few people that did this, and the car was worth more than the buyout at the end of the lease.
Posted on 6/19/25 at 2:14 pm to lsuconnman
quote:
Can’t be any worse of an idea than those who thought they’d rent and wait for the housing market to cool.
Interest rates are a real thing.
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