• Leasing a car - pros and cons?
    52 replies, posted
I'm considering leasing my next car, I'm looking into it now. It seems to make sense a lot more sense for high value cars (£30k+). I bought my Honda Civic a year or two ago. It was the first new car I've ever had, it cost £19k. It's worth about £13k now. So I've lost £6k. It seems like the higher value the car is, the more it will lose. I did a quick test on a leasing site and it came to about £13k for 2 years of a car with £40k. If you were going to get a loan to buy your car then I would say it's definitely a lot better to lease, since on a £40k loan you'd probably end up paying back about £60k, then the car will end up worth about £20k at the end of it. But if you're in a position where you can pay cash for a £40k car - is it still better to lease?
I'd say yeah but this site is pretty useful if you're unsure: [url]http://www.leaseguide.com/lease03.htm[/url]
I would disagree. You can't do anything to the car to change it (Aside from wheels, so on) You have a limited mileage limit each year. Leases (After financing) are usually only a little bit cheaper than buying a car. You are forced to maintain it to factory spec (ie. The oil they say, the tires they say, so on...) Leasing also gets you in the habit of monthly payments, when you could buy a new car and have it for 10 years and get a lot more bang for your money. Also if you want out of a lease they charge you for contract termination. Edit: The depreciation you are concerned with is generally around 25% or more for a new car, I would recommended looking around for a manufacturer certified used car, someone else payed the depreciation hit, and it is still warrantied as well as a new car (You can even purchase an extended warranty for surprisingly little money)
Those all sound like limits that I work within anyway. I've got no want or need to replace parts of my car with other parts. And I'd rather have a new car every couple of years rather than drive the same one for 10 years.
[IMG]http://img171.imageshack.us/img171/8671/amgt.png[/IMG] Close to £80k new. They will give it to you for £30k and warranty it like its new. Trade it in 5 years down the line, it will have almost no depreciation so your trade in will probably net you: £20k.
Not to be rude or anything Garry, but with the money you made from gmod, I would think it would be better if you just bought a car. leasing enters into a whole world of trouble. Everything is more complicated with leasing.
i don't know anything about leasing but the fact that after a couple years when a car is paid off and the fact that it's actually YOURS is what I love.
Usually If you can afford to buy something outright, it's better to do that.
[Quote=LeaseGuide.com] Do not lease if you don't understand how leasing works. It is too easy to make mistakes, pay too much, and have dealers take advantage of you. Summary Car leasing is not for everyone. Many people lease when they should not, and for the wrong reasons. If you don't understand leasing and how it works, and know that you aren't well matched for it, then simply don't lease. You'll avoid the inevitable misery and financial pain that results.[/Quote]
honestly, just buy an inexpensive yet reliable car pay cash
I already have a car, I want a better one :v:
get a moped
Another downside to leasing is the fact most of the time they require very high insurance covering the car so you cannot just do the cheapest plan. More than likely you will be paying out the ass for insurance.
If you have a car that you bought brand new "a year or two ago" and already want to upgrade, then you really aren't in a position to be concerned about saving money :v: I drive a 15 year old car and I'll be driving a 20 year old car in 5 years time, I say drive your car until it can depreciate no more :v:
Never, ever, ever get a loan to consume, use your own money, if it isn't enough, then you can't buy it. When you lease a car on the other hand you're paying interest + estimated depreciation on a monthly basis, so it's obviously more expensive than buying a car per se, where you only "pay" depreciation. I'd steer clear of any form of consumption financing, you end up paying much more than you normally would. Keep your passives (debts) to a minimum, always. So if it was my choice, I'd buy something used that i know i can easily pay and maintain.
Get a good condition pre-owned vehicle. Their value won't drop as sharply depending on which vehicle you pick, you can pick up an extended warranty for a pretty decent amount and you can trade it in after a couple years. Leasing is not magically cheaper, and dealers are always out to screw people over. It's unlikely you'll end up benefiting by leasing and you'll only end up with financial headaches. If you're in a situation where you can flat-out buy a car, I'd say it's a better idea.
Buy a big garage and add a car there every 2 years then if you don't find the money a problem.
Leasing a car is like paying to be robbed. That's all I have to say about it. Done it once, never again.
garry get an impreza sti
garry get a lancer evo
no garry lemon is a bad person get an sti
no garry knowledge came from evil get a evo
no garry get a chevy aveo :smug:
Get this: [url]http://www.usedcars.com/vehicledetail.aspx?make=Ford&model=Mustang&zip=90001&vehicleId=34404460[/url]
[URL="https://used.astonmartin.com/en-GB/Search/Details%7Eb22595a9-03f0-4ee5-bd23-6d295a73836e/?from=results&c=7309d34a-d467-48dc-8324-9a9c9856c486&maxp=50000&Page=1&PerPage=10&OrderBy=Price&Order=Asc"]https://used.astonmartin.com/en-GB/Search/Details~b22595a9-03f0-4ee5-bd23-6d295a73836e/?from=results&c=7309d34a-d467-48dc-8324-9a9c9856c486&maxp=50000&Page=1&PerPage=10&OrderBy=Price&Order=Asc[/URL] If you're willing to spend £40,000 :v: Not too bad for an Aston.
[QUOTE=garry;28814499]I already have a car, I want a better one :v:[/QUOTE] What i can suggest you is a Mercedes. Mercedes is a awesome company .. They make really awesome cars and you can rely on them. I would suggest you a Mercedes Benz CLS 500, used CLS 500's start at ~30k Euro here in Germany, not much if you think they have a lot HP and look awesome (and can look much better) stock: [img]http://www.speedheads.de/auto/testberichte/bilder/bild-2135.jpg[/img] tuning: [img]http://www.autowallpaper.de/Tuning/Tunerprofile/carlsson/cls500_c219_heck_1_11be_middle.jpg[/img]
i agree but i think the CL looks nicer
Get a Corvette ZR1. Do it. Why wouldn't you get a car that comes with free driving classes so you don't wreck it? [editline]28th March 2011[/editline] [media]http://www.youtube.com/watch?v=ckNA9wskLFI[/media] Apparently the new one has some fancy Traction control on it now.
he wasn't asking for what car to get, he was asking if leasing was a viable option...
Yeah, it was a joke. Of course he isn't going to get freaking 'Vette.
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