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blu6385
Member since 5/08 8351 total posts
Name:
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pros and cons of leasing a car-why do you or dont you
i have may have asked this on here once before a while ago but the subject has come up again. why do you or do you not least
I have always been against it. I dont like the idea that i am paying money for a car i dont get to keep, dont like having to worry about miles or keeping it clean (im kind of a slob  but seriously my kids manage to get the weirdest freaking stains in my car that are not even food related   )
while its nice to get a new car every few years I am not one to always need one but i say that as i am just finishing paying a car I bought 6 years ago off ( it was a 6 year loan) and I am kind of itching for a new car. it doesnt help DH needs a used car to have around for when he needs to take the kids somewhere and the one he had we had to get rid of.
So we are tossing around the idea of him keeping my car and me getting a new one. he thinks i should lease a car but i think if i am getting a new one I should buy it but really because i cant get behind leasing. ( just a note i never buy a brand new car I usally will be a "newer" used car; like one that is only a year or 2 old)
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Posted 5/20/19 11:18 PM  |
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Mrs213
????????
Member since 2/09 18986 total posts
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pros and cons of leasing a car-why do you or dont you
I drive way too much for work, and would almost always owe on mileage.
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| Posted 5/21/19 6:40 AM |
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NervousNell
Just another chapter in life..
Member since 11/09 54917 total posts
Name:
..being a mommy and being a wife!
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Re: pros and cons of leasing a car-why do you or dont you
So we were like you for many years. We would buy a car brand new and run it into the ground. Like run it until it could run no more, or something went on it that was too expensive to fix considering how old the car was, etc.
DH had cars with 200 K miles on them!
He also used to drive 60 miles each way to work when he was working. So leasing was never an option for him.
For me it would have made more sense since I do less than 10K miles a year on my car.
Recently, since DH has retired, we have decided to lease. We got tired of buying cars and then keeping them forever and then sinking money into them. My last car was a 2006. I kept it until this fall. It ran fine, but it was beat up, the technology was so old in that I didn't even have Bluetooth for my phone. Now that I have something new, I'm kind of addicted to it.
I like knowing that in 3 years, I'll have the latest and great.
I like knowing that if anything does go wrong with it its covered under warranty. Then after I use the best 3 years of the car, and the warranty, I turn it in.
Another pro is you can afford a car you may not be able to if you are buying it.
A lot of people lease luxury cars for that reason. You are only paying for the part of the car you are using so it's a lower payment than if you were financing the whole price of the car.
Now intellectually I know it's not the best financial decision.
You will always have a car payment.
But for us, it works right now.
We don't have to worry about much maintenance or repairs.
I won't be stuck driving an old beater for years because I feel like I should keep the car since I paid it off. (We tend to never just sell or trade our car in after 5 or 6 years, we end up keeping them)
If you do a lot of mileage, it won't work for you.
Don't worry about stains etc... the only thing they really worry about when you turn it in is scratches bigger than a credit card or dings and dents larger than a golf ball.
DH had road rash on his rim when he turned in his last truck and they didn't bat an eye.
Also if you are leasing from the same brand they look the other way on up to $500 worth of damage and even some extra mileage.
Also we went from Infiniti to Nissan with his truck and they wanted to steal us from Infiniti so they were willing to pay any charges there might have been to get our business (there wasn't any but they would have)
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| Posted 5/21/19 7:13 AM |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: pros and cons of leasing a car-why do you or dont you
You will always have a car payment....
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| Posted 5/21/19 7:35 AM |
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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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pros and cons of leasing a car-why do you or dont you
I think it all depends on the lease price, but I have always been against leasing.
For our jeep, I got a 1.89% rate so it made sense to buy and do a 5 year loan. Now if I want to upgrade my car with something bigger, I can at least sell it and use that $$
However, when I got our rogue recently, I found an amazing lease deal with the Honcker App, and my local dealership matched it. With the payment we are making, combined with the buyout offer in 3 years, we are paying 4.5k less than MSRP. So to me, this was 100% worth it.
If it doesn't work out to be cost effective like our situation above, I would never lease. I prefer to take a loan on something that I can sell and use towards a down payment on another vehicle in a few years.
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| Posted 5/21/19 8:22 AM |
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LuckyStar
LIF Adult
Member since 7/14 7272 total posts
Name:
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pros and cons of leasing a car-why do you or dont you
We lease. I grew up with my parents always having older cars that they sunk money into. Someone’s car was always in the shop. No thanks. I’d rather have a perpetual payment and always have a newer car that doesn’t need surprise repairs. We will eventually buy one car that will be DD’s.
I assure you, neither of our leased cars are clean. They are a disaster. We had a softball sized dent on the last car we turned in and were charged nothing.
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| Posted 5/21/19 8:33 AM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: pros and cons of leasing a car-why do you or dont you
I like to do things to my car that I wouldn't be able to do if I leased. Add structural things like a bed liner, drilling holes in the truck to mount things, etc. For one of my cars, I took off all the chrome plating and gold plated it. Not sure if a leasing company would appreciate that when I returned it... 
I don't run my cars into the ground, but I do keep them a long time.
For me, leasing doesn't make sense at the moment, but I can definitely see the benefits for a lot of people.
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| Posted 5/21/19 8:42 AM |
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PhyllisNJoe
My Box Is Broken
Member since 6/11 9145 total posts
Name:
Phyllis
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Re: pros and cons of leasing a car-why do you or dont you
DH can’t lease do to the miles he drives. I can because I do less than 10k per year but I’d rather own. I hate giving back a car with practically zero wear and tear. I am currently leasing (3 year) a ‘19 jeep because Dh still has about 2 1/2 years left of payments on his Durango and my ‘06 jeep was about to become a money pit. Once his is paid off, I’ll take that and he’ll buy new. Being that I hardly drive - especially long distance, it make sense for me to have an older car and us to have only 1 car payment.
Everyone has their reasons. A lot of people I know work car payments into their budget and love the idea of a new car every 3-4 years. Whatever works best for you and your situation
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| Posted 5/21/19 8:48 AM |
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Tulips915
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Member since 8/08 6851 total posts
Name:
Me
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Re: pros and cons of leasing a car-why do you or dont you
Posted by LuckyStar
We lease. I grew up with my parents always having older cars that they sunk money into. Someone’s car was always in the shop. No thanks. I’d rather have a perpetual payment and always have a newer car that doesn’t need surprise repairs.
This!! My first lease was in 2014 and I love it. I love getting a new car every few years.
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| Posted 5/21/19 9:18 AM |
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lightblue
LIF Adult
Member since 1/17 2249 total posts
Name:
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Re: pros and cons of leasing a car-why do you or dont you
My DH has leased his past two cars and he actually just did a lease buyout from his current one. He had a bunch of scratches/dents from driving it to/from the city on weekends, and kids scratching it at the train station parking lot, that it was better off him just keeping it vs paying thousands of dollars to the leasing company at turn-in. With his last lease return, they charged us 1,200 in BS charges that they made up. I feel like with a lease it has to be in pristine condition otherwise they charge you up the butt for everything.
Message edited 5/21/2019 9:47:39 AM.
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| Posted 5/21/19 9:42 AM |
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Mill188
LIF Adult
Member since 3/09 3072 total posts
Name:
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Re: pros and cons of leasing a car-why do you or dont you
We lease DH's car. We bought mine. DH and I tend to keep our cars forever and like not having a payment. I don't think we will lease again. I could never lease because I drive too much.
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| Posted 5/21/19 9:50 AM |
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MrsT809
LIF Adult
Member since 9/09 12167 total posts
Name:
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Re: pros and cons of leasing a car-why do you or dont you
Posted by Diane
You will always have a car payment....
How so?
We just paid off our second car. Our cars are 5 and 8 years old with no issues and i'm very glad to have no car payments.
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| Posted 5/21/19 9:56 AM |
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lightblue
LIF Adult
Member since 1/17 2249 total posts
Name:
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Re: pros and cons of leasing a car-why do you or dont you
Posted by MrsT809
Posted by Diane
You will always have a car payment....
How so?
We just paid off our second car. Our cars are 5 and 8 years old with no issues and i'm very glad to have no car payments.
When you lease and turn it in for another lease you will constantly have a car payment. If you finance a car vs. lease, you eventually will pay it off.
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| Posted 5/21/19 10:08 AM |
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NervousNell
Just another chapter in life..
Member since 11/09 54917 total posts
Name:
..being a mommy and being a wife!
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Re: pros and cons of leasing a car-why do you or dont you
Posted by MrsT809
Posted by Diane
You will always have a car payment....
How so?
We just paid off our second car. Our cars are 5 and 8 years old with no issues and i'm very glad to have no car payments.
She meant if you lease you will always have a car payment
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| Posted 5/21/19 10:16 AM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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pros and cons of leasing a car-why do you or dont you
I've never leased and don't really want to. Until about 4 years ago, I drove a lot for work, so it wasn't really an option. Now, I do not drive nearly as much for work and live very close to my office, so I probably could do it if I wanted to. But I love that I paid my car off in 3 years and haven't had a car payment for the past 3 years. Plus I really love the car that I have and it's more than fine for another couple of years. And even though I now drive much less for work, I don't want to have to worry about mileage just doing my everyday driving (I have friends that live all over LI and probably drive more than average aside from what I used to drive for work)
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| Posted 5/21/19 10:25 AM |
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lisa0807
LIF Adolescent
Member since 4/10 572 total posts
Name:
Lisa
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pros and cons of leasing a car-why do you or dont you
I lease a car and have been for about 9 years. I don't travel that far for work so I don't go over the miles. I like having a new car every 3 years and no maintenance issues to really speak of. By the time the car would need breaks or tires it goes back to the dealer.
Message edited 5/21/2019 12:25:23 PM.
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| Posted 5/21/19 10:30 AM |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: pros and cons of leasing a car-why do you or dont you
Posted by LuckyStar
We lease. I grew up with my parents always having older cars that they sunk money into. Someone’s car was always in the shop. No thanks. I’d rather have a perpetual payment and always have a newer car that doesn’t need surprise repairs. We will eventually buy one car that will be DD’s.
I assure you, neither of our leased cars are clean. They are a disaster. We had a softball sized dent on the last car we turned in and were charged nothing.
Cars today are built much better than they used to be however I do always find at the 5 year mark or so you will end up with some repairs. It's different than it used to be - it's not like your car is overheating and you are breaking down on the side of the road like the good old days.
To the OP - We buy our cars now because we always ended up just buying at the end of the lease. I have had a Buick Enclave for 5.5 years now and I haven't had one issue with it (knock on wood). I just got it detailed and it looks brand new. However, the technology is dated now. I feel like if you like all the newer bells and whistles leasing is better because you will get all of that new stuff every three years. Sometimes I want a new car because it's nice getting a new car but we aren't really car people so it's not a big deal.
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| Posted 5/21/19 10:32 AM |
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Sparrow
LIF Adult
Member since 11/10 6826 total posts
Name:
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Re: pros and cons of leasing a car-why do you or dont you
Posted by LuckyStar
We lease. I grew up with my parents always having older cars that they sunk money into. Someone’s car was always in the shop. No thanks. I’d rather have a perpetual payment and always have a newer car that doesn’t need surprise repairs. We will eventually buy one car that will be DD’s.
I assure you, neither of our leased cars are clean. They are a disaster. We had a softball sized dent on the last car we turned in and were charged nothing.
Could have written this myself almost word for word.
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| Posted 5/21/19 12:41 PM |
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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pros and cons of leasing a car-why do you or dont you
i believe that the answer is "it depends." it depends on your life, your lifestyle, what you want, and what you need.
for me... the thought of the perpetual car payment makes me sick to my stomach. i will keep a car until it completely dies. i'm ok with having an older car.
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| Posted 5/21/19 1:05 PM |
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NervousNell
Just another chapter in life..
Member since 11/09 54917 total posts
Name:
..being a mommy and being a wife!
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Re: pros and cons of leasing a car-why do you or dont you
Posted by Sparrow
Posted by LuckyStar
We lease. I grew up with my parents always having older cars that they sunk money into. Someone’s car was always in the shop. No thanks. I’d rather have a perpetual payment and always have a newer car that doesn’t need surprise repairs. We will eventually buy one car that will be DD’s.
I assure you, neither of our leased cars are clean. They are a disaster. We had a softball sized dent on the last car we turned in and were charged nothing.
Could have written this myself almost word for word.
Pretty much same. Not just my family growing up but us until 3 years ago when DH got his first leased truck.
Now I cant' look back.
But again- it really depends on your financial sitatuion, how much you drive, etc.
We have no mortgage anymore so it freed up a lot of disposal monthly income so I don't mind the car payments at this point in my life.
A few years back when we had a mortgage and daycare costs- no way. My old payment free beater was a God send
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| Posted 5/21/19 1:29 PM |
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EricaAlt
LIF Adult
Member since 7/08 22665 total posts
Name:
Erica
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Re: pros and cons of leasing a car-why do you or dont you
We have both. Leased one and bought one. Actually bought two if you consider DH's work van, which I NEVER drive or even go in. LOL
He's a contractor so needs it.
We bought a Ford Explorer years ago and don't owe anything on it. I like it. DH needs a car to have for himself besides the work van. Uses it for estimates or if I have one boy and he has the other or I'm just out to have another car.
My car is leased. I have an Infiniti and will be due back in March. We do LOVE getting a new car every few years and we only lease the warranty as well or at least close to it if there's any issues before returning.
Never had an issue returning that we owed money.
I work from home so only lease for 10,000 miles a year. WE use my car most of the time for drives on weekends and still good with the mileage.
As our family grows and got bigger it's been great to get new cars with the newer technology and safety features.
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| Posted 5/21/19 2:36 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19453 total posts
Name:
L
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Re: pros and cons of leasing a car-why do you or dont you
I prefer buying cars outright so I don't have a car payment. We don't drive that much, and I find it freeing to have no recurring payments beyond a mortgage. I would rather spend my money on traveling.
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| Posted 5/21/19 2:39 PM |
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liadorbs
LIF Adult
Member since 11/10 1221 total posts
Name:
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Re: pros and cons of leasing a car-why do you or dont you
Posted by Tulips915
Posted by LuckyStar
We lease. I grew up with my parents always having older cars that they sunk money into. Someone’s car was always in the shop. No thanks. I’d rather have a perpetual payment and always have a newer car that doesn’t need surprise repairs.
This!! My first lease was in 2014 and I love it. I love getting a new car every few years.
This is what hooked me on leasing as well.
Plus my payments for the lease are way cheaper than what I was paying to own.
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| Posted 5/21/19 3:03 PM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: pros and cons of leasing a car-why do you or dont you
Posted by lisa0807
I lease a car and have been for about 9 years. I don't travel that far for work so I don't go over the miles. I like having a new car every 3 years and no maintenance issues to really speak of. By the time the car would need breaks or tires it goes back to the dealer.
Exactly this. To add, DH commutes into the city and we do have a civic we own that we use as commuter car, he drives it a couple miles on the day he commutes.
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| Posted 5/21/19 3:07 PM |
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Ghostowl02
LIF Zygote
Member since 3/19 32 total posts
Name:
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Re: pros and cons of leasing a car-why do you or dont you
Can I ask why always having a car payment is a bad thing?? Debt is something we all deal with, for the most part. Millions lease so there must be something to it.
We are looking into it for my car, I’m tired of putting money into my car. In 10 years I may not want to lease and we will buy a car.
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| Posted 5/21/19 3:16 PM |
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