8 Year Car Lease = Real Life

Truth-Serum said:
Girl at my job just got a CLA after the lease on her civic ended and she thinks she's doing it :lol:
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The type of girl to put what kind of car she drives in her IG profile

21 | Cali | 2015 Mercedes CLA *insert emoji* | "insert corny drake verse here"
 
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I've been averaging right around 12k a year, maybe I'll try to lease my next ride.
 
heLiumcLinton said:
I wish I could only lease but I can't just drive 12K/year
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I have a 8,500 mileage limit on my lease and I'm still under miles.  If you're driving that much you might want to look at Mercedes Benz CPO unlimited mileage warranty 
 
I can see the benefits of leasing, but i've always purchased my cars. The main reason is that at some point, i wont be paying $200-700 each month to borrow the dealers car. I own my vehicles, and roll that extra money into my mortgage balance, retirement, IRA, college fund, and a few other things.

Its good to have the latest model, but i enjoy being free from debt a lot more. By the time i pay off my home, my cars will only have a combined value of about $1,0000. But Im okay with that because i wont owe anyone a thing.
 
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Supermanblue79 said:
I can see the benefits of leasing, but i've always purchased my cars. The main reason is that at some point, i wont be paying $200-700 each month to borrow the dealers car. I own my vehicles, and roll that extra money into my mortgage balance, retirement, IRA, college fund, and a few other things.

Its good to have the latest model, but i enjoy being free from debt a lot more. By the time i pay off my home, my cars will only have a combined value of about $1,0000. But Im okay with that because i wont owe anyone a thing.
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fam, you an alien?
 
Supermanblue79 said:
I can see the benefits of leasing, but i've always purchased my cars. The main reason is that at some point, i wont be paying $200-700 each month to borrow the dealers car. I own my vehicles, and roll that extra money into my mortgage balance, retirement, IRA, college fund, and a few other things.

Its good to have the latest model, but i enjoy being free from debt a lot more. By the time i pay off my home, my cars will only have a combined value of about $1,0000. But Im okay with that because i wont owe anyone a thing.
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I used to think this too when I was doing the car auctions and just outright owning my cars. What about the depreciation and what do you do if something goes wrong with the car you outright own out of warranty? Its too much of a headache. CPO's are cool but still...

I understand the debt free but what if a big problem pops up that gonna cost you $3k-$5k or the worth of the car. I rather do that monthly payment then deal with that.
 
Supermanblue79 said:
I can see the benefits of leasing, but i've always purchased my cars. The main reason is that at some point, i wont be paying $200-700 each month to borrow the dealers car. I own my vehicles, and roll that extra money into my mortgage balance, retirement, IRA, college fund, and a few other things.

Its good to have the latest model, but i enjoy being free from debt a lot more. By the time i pay off my home, my cars will only have a combined value of about $1,0000. But Im okay with that because i wont owe anyone a thing.
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Lol yea i rather put that money towards investments, business, my childrens future. When I die i rather pass down a business and investments that will continue to generate wealth for future generations than pass down a 2016 benz lol
 
PolosandDunks said:
I used to think this too when I was doing the car auctions and just outright owning my cars. What about the depreciation and what do you do if something goes wrong with the car you outright own out of warranty? Its too much of a headache. CPO's are cool but still...

I understand the debt free but what if a big problem pops up that gonna cost you $3k-$5k or the worth of the car. I rather do that monthly payment then deal with that.
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Valid statement if you are referring to luxury cars, but a Japanese sedan repairs aint costing more than 1k, while crap like tires on a gemeran joint may run u 1500. I think buying german luxury is dumb so if thats what ppl want to ride in i think thats the best way to do it/lesser evil.
 
With the money you are saving by not having a payment you should be able to cover the maintenance. $1000+ repairs are not a common occurrence unless your car is really old or has bad reliability.

I agree with you Superman, once one debt is paid off I roll it into another debt or retirement/savings. I am not a fan of reoccurring bills at all.
 
millenial said:
BMW is the best to lease, they subsidize their leases heavily vs lets say Audi.  Also get free maintenance and repairs including breaks.  
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Do you know what you're talking about? Of course maintenance and repairs are free; it's still under warranty. That's the purpose of a lease, you take possession of the vehicle and keep it while it's under warranty.
 
Frank Mucus said:
Do you know what you're talking about? Of course maintenance and repairs are free; it's still under warranty. That's the purpose of a lease, you take possession of the vehicle and keep it while it's under warranty.
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Lol yea lot of companies have free 24-36 month mainance on top of 5 yr powertrain warranty , pretty much whether you buy or lease you going to get 2-3 yrs free service/repairs, and avg lease is already 2-3 yrs.
 
Frank Mucus said:
Do you know what you're talking about? Of course maintenance and repairs are free; it's still under warranty. That's the purpose of a lease, you take possession of the vehicle and keep it while it's under warranty.
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Yes I know what I'm talking about, go take a look at the BMW maintenance program and see what's covered for free and look at Audi's which you'd have to pay an additional $800 or somewhere around there
 
NYC Street Cat said:
fam, you an alien?
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No, just a someone who's wasted too much money on cars in my early 20s. I've learned some very expensive lessons. These days the newest vehicle that we own is 8 years old, and all are very reliable and well taken care of. The most important lesson is that the person paying a car note/lease payment gets to work, I get to work. They get to the game, I get to the game...and so on.


PolosandDunks said:
I used to think this too when I was doing the car auctions and just outright owning my cars. What about the depreciation and what do you do if something goes wrong with the car you outright own out of warranty? Its too much of a headache. CPO's are cool but still...

I understand the debt free but what if a big problem pops up that gonna cost you $3k-$5k or the worth of the car. I rather do that monthly payment then deal with that.
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All cars break down. When you are debt free, you already have an emergency fund in place to cover any repairs. If a repair costs $3-$5k, then it's time to buy another car. But who says you have to take on a car note?
If you've saved you a reliable car can be purchased outright.


LuckyLuchiano said:
Lol yea i rather put that money towards investments, business, my childrens future. When I die i rather pass down a business and investments that will continue to generate wealth for future generations than pass down a 2016 benz lol
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+1


BeezyGotSole said:
With the money you are saving by not having a payment you should be able to cover the maintenance. $1000+ repairs are not a common occurrence unless your car is really old or has bad reliability.

I agree with you Superman, once one debt is paid off I roll it into another debt or retirement/savings. I am not a fan of reoccurring bills at all.
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+1
 
millenial said:
BMW is the best to lease, they subsidize their leases heavily vs lets say Audi.  Also get free maintenance and repairs including brakes.  
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All the busted up BMWs I see around, seems like that free maintenance is very necessary :lol:

Couldn't agree more with Supermanblue and some others
 
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LuckyLuchiano said:
Valid statement if you are referring to luxury cars, but a Japanese sedan repairs aint costing more than 1k,
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When the transmission blew up on my (then) 13 year old Japanese hooptie, these fools was asking for $1,400 for a rebuild :x

Just saiyan.
 
Supermanblue79 said:
All cars break down. When you are debt free, you already have an emergency fund in place to cover any repairs. If a repair costs $3-$5k, then it's time to buy another car. But who says you have to take on a car note?
If you've saved you a reliable car can be purchased outright.
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I used to say the same things your saying but ive saved way more with leases and peace of mind. Used to argue with my coworkers too that were all doing it as well till I did it.You just said all cars break down so why would you want to own a depreciating asset thats not reliable. You rarely can even get back what you fully paid for the car.

You can still have money to save for the future etc etc with leasing.Why would I want to dip into my emergency funds/savings for repairs on a car I own. Thats backwards to me :lol:

If we talking a Honda or Toyota or one of those cheaper to maintain cars then cool but to each its own though.
 
JVII said:
When the transmission blew up on my (then) 13 year old Japanese hooptie, these fools was asking for $1,400 for a rebuild :x

Just saiyan.
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IMO any repair that costs 50% or more of the car value= time for a new car. When my 97 camry needed a new timing belt and water pump, shop wanted 8 or 900, I paid 2k for it lol being that I had lver 250k on the dash I decided it was better to just get a new whip.
 
PolosandDunks said:
I used to say the same things your saying but ive saved way more with leases and peace of mind. Used to argue with my coworkers too that were all doing it as well till I did it.You just said all cars break down so why would you want to own a depreciating asset thats not reliable. You rarely can even get back what you fully paid for the car.

You can still have money to save for the future etc etc with leasing.Why would I want to dip into my emergency funds/savings for repairs on a car I own. Thats backwards to me :lol:

If we talking a Honda or Toyota or one of those cheaper to maintain cars then cool but to each its own though.
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First, there's not such thing as a depreciating asset. All cars are liabilities.
Considering what I paid and the length of time that I've kept my 2001 Honda Accord, It's paid for itself several times over. And my my 8 year old Chevy is starting to pay for itself with the money I'm saving in car payments.

I do plan to purchase a couple of newer, pre-owned cars later in the future. But it will be after I have zero debt and I'll be paying cash for them.
 
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I'm cool with monthly payments, y'all must not have good credit. Not bout to drop ~30k cash on a car. The way I see it buy "regular" cars but lease luxury cars.
 
Supermanblue79 said:
First, there's not such thing as a depreciating asset. All cars are liabilities.
Considering what I paid and the length of time that I've kept my 2001 Honda Accord, It's paid for itself several times over. And my my 8 year old Chevy is starting to pay for itself with the money I'm saving in car payments.

I do plan to purchase a couple of newer, pre-owned cars later in the future. But it will be after I have zero debt and I'll be paying cash for them.
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Cmon bro now theres no such thing as a depreciating asset? :lol:. How is a car not depreciating in anything or whatever you want to call it personally...Unless you got a rare car or one that appreciates in value.

All I want to know is how is dipping into your savings for a big repair and maintenance actually saving...Makes no sense but what works for you may not work for me


I can agree on the Japanese Sedans for sure. I would straight up buy those older ones and not trip too much on repairs and service/maintenance
 
Is it wise to lease a car like, A Dodge Charger RT or maybe a Cadillac XTS? One guy at the Cadillac Dealer told me if I was to lease a XTS, it would be 1,012 a month..SMDH
 
1,012 a month for an XTS? :wow: No way in hell.

Was he talking about a 12 month lease or something?
 
Leasing
JVII said:
1,012 a month for an XTS?
eek.gif
No way in hell.

Was he talking about a 12 month lease or something?
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I know people that pay that for Panameras
 
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