Buying vs Leasing?

Mike · 05-30-2012, 08:43 PM

I go through cars quickly. I've leased three times and all were great.

First was a Saab 9-3 that the value dropped like a rock on. It was a 299/month lease special and it was worth less than the residual at the end. I turned it in and walked away.

Second was a G35 coupe. My airline went bankrupt and I took a 50% paycut, so we sold my pickup and traded my wifes G in on a Magnum. Got 1000 more than what the lease buyout was.

Third was a two year lease on a Z4. Traded it in two months early on a 2010 Z4 and came out about even from where we would have been if we had financed it.

Leasing has an advantage that you only pay sales tax on the payments, and not the total price, and you know all of your costs up front.

If you keep a car for a long time, don't do it, but if you are like me, and routinely buy and sell, its not a bad way to go. I've bought I think, 36 new cars, between my years of 18-46. Might get 37 tomorrow.

mpp9 · 05-31-2012, 12:43 AM

Quote:

Originally Posted by Mike

I go through cars quickly. I've leased three times and all were great.

First was a Saab 9-3 that the value dropped like a rock on. It was a 299/month lease special and it was worth less than the residual at the end. I turned it in and walked away.

Second was a G35 coupe. My airline went bankrupt and I took a 50% paycut, so we sold my pickup and traded my wifes G in on a Magnum. Got 1000 more than what the lease buyout was.

Third was a two year lease on a Z4. Traded it in two months early on a 2010 Z4 and came out about even from where we would have been if we had financed it.

Leasing has an advantage that you only pay sales tax on the payments, and not the total price, and you know all of your costs up front.

If you keep a car for a long time, don't do it, but if you are like me, and routinely buy and sell, its not a bad way to go. I've bought I think, 36 new cars, between my years of 18-46. Might get 37 tomorrow.

Yep. It's not for everyone. But I'm with you.

cossie1600 · 05-31-2012, 01:44 AM

Yeah I leased a Legacy for $199 a month with $1K down. I turned it in 2.8 years later and owed nothing even though I lost a key and my mom backed it into a car a month prior.

05-30-2012, 08:43 PM	#16 (permalink)
Mike The370Z.com Sponsor Join Date: Jun 2009 Location: Loganville, GA Posts: 5,944 Drives: 370z Rep Power: 2186	I go through cars quickly. I've leased three times and all were great. First was a Saab 9-3 that the value dropped like a rock on. It was a 299/month lease special and it was worth less than the residual at the end. I turned it in and walked away. Second was a G35 coupe. My airline went bankrupt and I took a 50% paycut, so we sold my pickup and traded my wifes G in on a Magnum. Got 1000 more than what the lease buyout was. Third was a two year lease on a Z4. Traded it in two months early on a 2010 Z4 and came out about even from where we would have been if we had financed it. Leasing has an advantage that you only pay sales tax on the payments, and not the total price, and you know all of your costs up front. If you keep a car for a long time, don't do it, but if you are like me, and routinely buy and sell, its not a bad way to go. I've bought I think, 36 new cars, between my years of 18-46. Might get 37 tomorrow. __________________ NISSAN: 75 280Z / 86 300ZX GLL /87 Sentra SE / 03 350Z / 23 Z Porsche: 93 968 / 23 Macan GTS / 93 968

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05-31-2012, 01:44 AM	#18 (permalink)
cossie1600 A True Z Fanatic Join Date: Jun 2009 Location: californee way Posts: 5,380 Drives: 370, Leaf Rep Power: 30	Yeah I leased a Legacy for $199 a month with $1K down. I turned it in 2.8 years later and owed nothing even though I lost a key and my mom backed it into a car a month prior.