Leasing Vehicles vs Buying New and Selling

[amc80]

I leased an Accord. I was going to buy (finance) it, but the lease deal couldn't be passed up. The residual (buy out) value at the end of the lease was wayyyy lower than market value for a three year old, loaded Accord. So I leased, bought it out at the end of the lease, and then sold it for much more than the residual. By knowing I was buying it out, I also didn't have to worry about mileage. So there's an exam of when a lease made financial sense.

I also think leasing is worth it for the risk-adverse. We've bought used cars and have regretted some of those purchases. With a lease, we'd be covered under a warranty and would only be stuck with the car for the lease term. It may not be the best financial decision, but not all decisions need to be based on finances. Peace of mind is priceless.

 

[chemgirl]

I know a Volvo-driving family who likes to keep themselves in new cars, and they buy and then sell them a couple of years later. I was talking to them when I was buying my new car earlier this year and they said they leased a couple of times but it was better to buy and then sell.

(I used to have a Toyota Prius. I loathed it. It was the least fun car in existence, absolutely dead dull basic ugh hatred. I always felt like I was rolling down the road in a tin can. And then it started having problems - last year it spent over two months in the shop (not consecutively - 1-2 weeks at a time). Eventually they found the root problem and it was going to be expensive to fix, and with the hybrid battery out of warranty and my hatred of the car, I didn't want to spend it and so took myself to the VW dealer where I bought a GTI and now can actually accelerate when getting on the highway. I test drove several Toyota/Honda/Lexus cars and was just meh about all of them. Obviously I anticipate more costs in the long run with the GTI than if I'd gone with a more reliable car, but to me it is worth it to have a car I find enjoyable to drive. The extra cost is the price I am paying to have fun, not just transportation. Having had fun cars and a not-fun car, I know that makes a significant difference in my quality of life and overall happiness/stress levels. Obviously YMMV, but that's how it is for me.)

Yes! I used to drive a Mercedes SUV and while awesome and luxury it wasn't super fun to drive. I'm in my little turbo beetle convertible now and wouldn't go back. It makes me smile on my way to work, worth every penny.

I'm a sucker who will choose fun over long term reliability any day. Probably why I lease.

 

[Arcadian]

So kenny, thats like saying you actually NEEDED an octavia right? Any ol diamond with the correct optics would have been fine. But, you like what you like right?

Same here. I LIKE leasing and LIKE having a new car every few years for the reasons stated. I do dev work. thats obviously not something you're into from what I've read. So that could be why a 2006 hybrid is ok with you. For me that dosen't work. When I was in school sure. But now? no thanks.

My current car has all the lovely tech toys. I like being able to push an address from my phone to my car's navigation system and I like that it can park itself if I don't want to. I like that it can help keep me in my lane if I drift (I drove from Mass to Florida twice. yeah it does indeed work!!) I like to talk to my car and tell it what to do. I like to be able to send a text by talking to the car too without reaching for my phone... Hey sue me and I admit, I do indeed love my cushy ass heated leather seats the next car I'm hoping for the massage option (a girl can dream right?)

Oh and I like it when it starts too

Hell if Tesla had a lease program and didn't catch on fire so much they'd be on the list too!

Basically it suites me to lease. I hurt no one by leasing, nor am I under any assumptions I'm "saving money". thats like saying buying several diamonds or Luxury hands bags or whatever saves money...lol I do it because its about what I WANT! Plus, I take very good car of the car when I have it, knowing it will go to someone else. I have a max amount I spend, I negotiate for it, and hey, that works for me.

The what and why I do isn't going to be everyone's cuppa tea and thats fine. I wouldn't own a 10 year old computer and these days newer cars are essentially that; computer's on wheels.

 

[kenny]

Gosh, now that you put it in terms of the Octavia I suddenly get it!
What a revelation!
I would have never understood without the Octavia reference.

I only understand things when expressed in terms of homosexuality, people varying, being white stupid and fat, and Octavias.

 

[Arcadian]

I love you. You're such a smartarse...lol And you're not fat, you're big boned.

 

[kenny]

I love you. You're such a smartarse...lol And you're not fat, you're big boned.

Hey, that reminds me of this magnet on our fridge ...

 

[PintoBean]

We bought new and we will drive our cars into the ground. DH has a 7 mile commute to work, and I work from home. His commute is so short that if his car broke down, I could fetch him. If it needs repairs done, he could drive my car. It just works for us right now.

 

[distracts]

I guess people vary even when it comes to what they consider to be "fun".

Fun for me is the challenge of getting there in my hybrid on minimum gas, not in minimum time.
I love it and am very good at it.
When I get onto the freeway or change lanes I merge into a space behind that car, instead of in front of it.

Americas sons and daughters are dying in oil wars.
I feel bad enough using ANY gas, let alone wasting it.

Kenny, I tried that with the Prius, specifically because I remembered your posts about it. But what ended up happening was that I hated driving it so much that I either stayed home a lot (which saved gas), or waited until my husband got home and took his truck to run errands (which did the opposite of saving gas since it gets about 10 mpg in the city!). The VW gets pretty decent gas mileage and that is one reason why I went with a tiny car vs even a full-size sedan - I knew I wanted a sporty ride but also wanted mileage I could live with. It's all a tradeoff and ultimately this was the tradeoff that worked best for me.

Yes! I used to drive a Mercedes SUV and while awesome and luxury it wasn't super fun to drive. I'm in my little turbo beetle convertible now and wouldn't go back. It makes me smile on my way to work, worth every penny.

I'm a sucker who will choose fun over long term reliability any day. Probably why I lease.

Heee, I looked at the turbo beetle convertible while at the VW dealership and it was so cute!

 

[kenny]

Distracts, I must confess, I rented a VW recently and it WAS fun to drive!

Gotta go to Hell for, something!

 

[Dancing Fire]

I want one of these 650HP car...
http://www.topspeed.com/cars/chevrolet/2017-chevrolet-camaro-zl1-ar169533.html

 

[kenny]

DF, you could buy a pretty nice CBI for $62,000.
Just saying.

 

[Dancing Fire]

DF, you could buy a pretty nice CBI for $62,000.
Just saying.

True!..