Leased cars?

[Ima saver]

Does anyone ever lease a car? I have always thought that was a big no no!

[naturallyadiva]

Re: Leased cars?

Yeah thats a very big no no. I do not see why someone would do it. But everyone has different tastes and lifestyles.

[abowers]

Re: Leased cars?

My friend just leased a car and opted for only 12,000 miles/year. Big mistake-- her work is 20 miles from home; her college is 20 miles from work & home; and she has a practicuum for grad school that's on the other side of town from work home and school. She's going to pay big time when her lease is up.

We just got a new car in October and we are buying it (financing it). That way we have something when we're done paying all that money.

I can maybe see leasing just for the lower payments, if you plan on buying when the lease is up. (if you expect to be making more money in 2-3 years than you are at the start of the lease).

[Tree0164]

Re: Leased cars?

Most people do it because of the lower monthly price compared to buying.

Save up some cash up a down payment and drive the car into the ground. You will save 10s of thousands over the years.

[Ima saver]

Re: Leased cars?

My husband built a house for a doctor, that doctor leased 7 different cars in just one year!!At the end of the project, the doctor was supposed to pay $1400 for some retaining walls. He did NOT have the $1400, so we had to pay for it out of our pocket.
Obviously that couple could not handle money, but they always had a new car every two months.

[mbhunter]

Re: Leased cars?

My husband built a house for a doctor, that doctor leased 7 different cars in just one year ...

It's not how much you make; it's how much you keep! I've never heard of anyone leasing that many cars in one year.

[Ima saver]

Re: Leased cars?

/That is my motto, it is not how much you make, it is how much you keep. I have told that to so many people. We have never made "big" money. (or leased a car)

[homeCooking]

Re: Leased cars?

I always thought leasing was stupid but I have a couple of friends who drive brand new BMW every 3 years. They think they are cool and they love people admiring their cars so I guess it's worth it to pay $500 a month for that.

as for me I drive a 10 years old car that I bought with $5000 cash from an old lady that was moving out state...everybody is different..

[Ima saver]

Re: Leased cars?

I don't know much about leasing, but all the financial experts say not to do it.

[fultron]

Re: Leased cars?

Leasing is just silly to me. You're forced to get another vehicle when the term is up, even if you don't have the cash at that time for a buyout or new deposit. Plus, you don't have the value of a trade-in.