rito Posted July 26, 2017 Report Share Posted July 26, 2017 I'm glad that people lease cars though. Those are usually the cars I buy after a big chunk of the depreciation is gone. Certified pre-owned. At the end of my lease I can buy the car for about 3k less than they will sell it to someone else for if I give it back. So you gonna go buy it for 3k more after I passed. SEems solid. Quote Link to comment Share on other sites More sharing options...
rito Posted July 26, 2017 Report Share Posted July 26, 2017 I leased my car for 3 years, then bought it 2 years ago. I still haven't passed 36,000 miles so not really worried about that. Even the mrs car which she drives all day all over the place and we've taken on road trips is still not going over the 36,000 limit Quote Link to comment Share on other sites More sharing options...
WVU Posted July 26, 2017 Report Share Posted July 26, 2017 And I am glad there are people like you who want to take my used things because of that the manufacturer subsidizes my new car because they know they have a waiting buyer for my used car and the dealer sells it to me or in this case lease is it to me for Less because they know they don't have to go to an auction to purchase one because they have somebody waiting who wants my used thingmonkey also doesn't get to take advantage of factory rebates and incentives Quote Link to comment Share on other sites More sharing options...
WVU Posted July 26, 2017 Report Share Posted July 26, 2017 That's kind of the point though. You have to go nowhere if you lease a vehicle. While it sits there depreciating, you can't even use it.false. educate yourself a little on leases Quote Link to comment Share on other sites More sharing options...
rito Posted July 26, 2017 Report Share Posted July 26, 2017 Have bought new, bought used, leased, rented, borrowed. ALL can be +EV or -EV. Translation, LEASING is a very good option at times, to think not is incorrect thinking. Most +ev is probably having no car and taking the bus/uber. Quote Link to comment Share on other sites More sharing options...
mikeman Posted July 26, 2017 Report Share Posted July 26, 2017 If you think you are going to go over the 12k miles per year when you buy a lease then buy extra miles. With Mercedes, if you build the extra miles into your payment you are only paying 13 cents per mile over the 12k. I generally put 18-20k miles on my leases and buy the extra miles up front. This is much cheaper than buying. Those of you who think it isn't must have never leased and bought a nice car. You can get a high mileage lease from Mercedes for $499 which will cover 20k miles per year. This is on a 45k car. As I stated earlier buying this same car will run you $849/month. So let's do the real math assuming 20k miles per year on both the lease and purchase. Lease (3.5 years): 499 x 42 = $20,958lets add the $599 lease return fee and $25 per month ($1050) in extra insurance.total $22,607 Purchase (5 year loan): $849 x 42 months = $35,658at 20k miles per year your 45k car will be worth about 15k after 3.5 years. The balance owed will be about 12-15k. Let's assume best case scenario so you will have 3k in equity in this car. $35,658 - 3k = $32,658 = cost of ownership. So the cost of ownership for the lease is $22,607 and the cost of ownership for the purchase is $32,658. That is a difference of 10k saved by leasing.That car will be worth far more than 15K after 3.5 years, that's the flaw in your math. My toyota is almost 9 years old and is still worth at least a 3rd what I paid for it. And by the way, when you buy a new car, you pay cash, you dont borrow. Quote Link to comment Share on other sites More sharing options...
WVU Posted July 26, 2017 Report Share Posted July 26, 2017 That car will be worth far more than 15K after 3.5 years, that's the flaw in your math. My toyota is almost 9 years old and is still worth at least a 3rd what I paid for it.no it won't. Not with 70k miles Check KBB.com Quote Link to comment Share on other sites More sharing options...
rito Posted July 26, 2017 Report Share Posted July 26, 2017 Really a 3 year old 45k Mercedes for 15k? Seems way too low. Quote Link to comment Share on other sites More sharing options...
mikeman Posted July 26, 2017 Report Share Posted July 26, 2017 no it won't. Not with 70k miles Check KBB.comNow it's got 70K in mileage huh, what happened to 12K a year? I dont know shit about mercedes prices, but most other mid priced cars would be worth far more. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted July 26, 2017 Report Share Posted July 26, 2017 Most +ev is probably having no car and taking the bus/uber.Yup Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted July 26, 2017 Report Share Posted July 26, 2017 ......or riding bike or skateboard, if not walking. Quote Link to comment Share on other sites More sharing options...
WVU Posted July 26, 2017 Report Share Posted July 26, 2017 Now it's got 70K in mileage huh, what happened to 12K a year? I dont know shit about mercedes prices, but most other mid priced cars would be worth far more.yeah because if you read my post both the lease and purchase were to have 20k miles per year. After 3.5 years that makes it 70k. Quote Link to comment Share on other sites More sharing options...
WVU Posted July 26, 2017 Report Share Posted July 26, 2017 Really a 3 year old 45k Mercedes for 15k? Seems way too low.check KBB. 15k is being generous. This is a 3.5 year old 45k Merc with 70k miles. https://www.kbb.com/mercedes-benz/c-class/2013/c300-4matic-luxury-sedan-4d/?vehicleid=382116&intent=trade-in-sell&mileage=70000&pricetype=trade-in&options=6384664|true&condition=very-good Quote Link to comment Share on other sites More sharing options...
mikeman Posted July 26, 2017 Report Share Posted July 26, 2017 Also, hardly anyone lives "in" a big city, most normal people live around a big city, and drive around the edges, I cant imagine sweating the miles as I go golfing or to the grocery store. Quote Link to comment Share on other sites More sharing options...
WVU Posted July 26, 2017 Report Share Posted July 26, 2017 And by the way, when you buy a new car, you pay cash, you dont borrow.Dumb statement. What if you can get 0% interest? Or even 1.9%? Quote Link to comment Share on other sites More sharing options...
mikeman Posted July 26, 2017 Report Share Posted July 26, 2017 check KBB. 15k is being generous https://www.kbb.com/mercedes-benz/c-class/2013/c300-4matic-luxury-sedan-4d/?vehicleid=382116&intent=trade-in-sell&mileage=70000&pricetype=trade-in&options=6384664|true&condition=very-goodI'm not gonna argue about used car prices, but back to the point, yea, if you're gonna buy a new car and sell it after 3 years, and buy another one, leasing may be ok, but for the 85% who wouldn't do that, buying makes far more sense. Quote Link to comment Share on other sites More sharing options...
WVU Posted July 26, 2017 Report Share Posted July 26, 2017 I'm not gonna argue about used car prices, but back to the point, yea, if you're gonna buy a new car and sell it after 3 years, and buy another one, leasing may be ok, but for the 85% who wouldn't do that, buying makes far more sense.ok Quote Link to comment Share on other sites More sharing options...
mikeman Posted July 26, 2017 Report Share Posted July 26, 2017 Dumb statement. What if you can get 0% interest? Or even 1.9%?My point is that if you dont have 25K in savings, you probably shouldn't be buying a new 25K car. And you certainly shouldn't be flipping them every 3 years cause you like brand new cars. That's why everyone gets old without a pot to piss in. Quote Link to comment Share on other sites More sharing options...
WVU Posted July 26, 2017 Report Share Posted July 26, 2017 My point is that if you dont have 25K in savings, you probably shouldn't be buying a new 25K car. And you certainly shouldn't be flipping them every 3 years cause you like brand new cars. That's why everyone gets old without a pot to piss in.my point is borrowing money is very cheap for those with great credit. You should never pay cash for any big item. Why pay cash when the banks are giving money away for next to nothing? Take that cash and pay down your 4.5% mortgage or invest it. Quote Link to comment Share on other sites More sharing options...
KingRevolver Posted July 26, 2017 Report Share Posted July 26, 2017 Mr. Merlin has horrible credit. Quote Link to comment Share on other sites More sharing options...
Guest boatboatboat Posted July 26, 2017 Report Share Posted July 26, 2017 . That is a difference of 10k saved by leasing.subsidized by the manufacture because the lease mkt is VERY competitive Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted July 26, 2017 Report Share Posted July 26, 2017 my point is borrowing money is very cheap for those with great credit. You should never pay cash for any big item. Why pay cash when the banks are giving money away for next to nothing? Take that cash and pay down your 4.5% mortgage or invest it. Quote Link to comment Share on other sites More sharing options...
ted sheckler Posted July 26, 2017 Report Share Posted July 26, 2017 My point is that if you dont have 25K in savings, you probably shouldn't be buying a new 25K car. And you certainly shouldn't be flipping them every 3 years cause you like brand new cars. That's why everyone gets old without a pot to piss in. I don't know anyone that buys new every 3 years, that makes little to no sense. Why wouldn't you lease if you want to be in a new car every 3 years. Have had wifes 45K car new since 2010 - Free oil changes and have had 2000 in expenses (brakes all around (800) and 1 set of tires(1k)) KBB has it at valued at 17-20K as it is with 82,000 miles on it. Nice thing about it is the dealer where I got mine took the exact KBB trade in of my car. So it seems obvious that buying this car is a much better option since she's had it for 7 years. Advantages to both buying and leasing depending on what suits you. Silly to argue one over the other when it depends on the type of person. Quote Link to comment Share on other sites More sharing options...
mikeman Posted July 26, 2017 Report Share Posted July 26, 2017 Mr. Merlin has horrible credit. 820 last time I checked. And I pay cash because i dont have any mortgage(or other debts) to pay off, just get it over with. Quote Link to comment Share on other sites More sharing options...
WVU Posted July 26, 2017 Report Share Posted July 26, 2017 820 last time I checked. And I pay cash because i dont have any mortgage(or other debts) to pay off, just get it over with.Do you have investments that gain more than 0%? Quote Link to comment Share on other sites More sharing options...
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