How Does a Car Lease Work?

[photo]

Originally Posted by disneysteve

Even Dave Ramsey (who is pretty extreme) says that you shouldn't be buying a new car unless you're a millionaire,

I disagree on that one. We buy brand-new cars because we don't want to inherit problems from people who know they won't be keeping their cars for very long. However, we drive our vehicles until they're all but dead, so to us, it's worth the price.

[disneysteve]

Originally Posted by photo

I disagree on that one. We buy brand-new cars because we don't want to inherit problems from people who know they won't be keeping their cars for very long. However, we drive our vehicles until they're all but dead, so to us, it's worth the price.

I didn't say I agreed with him. I was just giving his view. I think buying a new car is fine is your income and financial situation is sufficient to justify the purchase and you don't mind taking the hit on the depreciation.

[Fredy Atwater]

I leased a minivan and after three years I bought and I think it is one of the lousiest deals I've done in my life. After three years of big payments I realized I had nothing then I had to buy the car because I was in love with the car. Not a good deal at all. The minivan was great but not the deal. Buy used on e bay motors. That's my advise.

[Fredy Atwater]

I think that DisneySteve comments are mature and on the spot. If you are anxious to lease a car for three years you are in for losing money. When I leased my car I had the money to pay for it all cash still I was too immature to understand I was going to lose money because I was hot for having a minivan. I learned my lesson and now I buy minivans with low mileage and cheap and I am not in debt and I get to keep the car for as long as I want.

If you have never owned a new car and you are desperate to lease a car to get the taste for your dream vehicle you better think twice because you are in for an experience you might regret even if you have the extra cash.

[Fredy Atwater]

I love people like Photo because they are the one's who give out sell their gorgeous cars after they depreciate in value and people like us are waiting desperately for those deals to come to us once in a while.

[photo]

Originally Posted by Fredy Atwater

I love people like Photo because they are the one's who give out sell their gorgeous cars after they depreciate in value and people like us are waiting desperately for those deals to come to us once in a while.

Really? Make me a deal on my gorgeous 18-year-old car!

[disneysteve]

Originally Posted by photo

We buy brand-new cars because we don't want to inherit problems from people who know they won't be keeping their cars for very long. However, we drive our vehicles until they're all but dead,

Originally Posted by Fredy Atwater

I love people like Photo because they are the one's who give out sell their gorgeous cars after they depreciate in value and people like us are waiting desperately for those deals to come to us once in a while.

Originally Posted by photo

Really? Make me a deal on my gorgeous 18-year-old car!

Fredy, I think you neglected to read photo's entire post, specifically the part I bolded. If you buy new and keep the car for it's entire lifespan, the depreciation isn't as significant an issue as if you buy new and sell in 2-3 years.

[LuckyRobin]

I had to laugh at this entry because I literally didn't remember asking this question. Then I checked the date and went, "Oh, yeah." Thankfully, I never did get a lease because of how well it was explained to me here.