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Jul 19, 2019
8:00
:31
am
TheLost
Starter
Shelling out a ton of cash?
We just leased my wife a new car... We put $1k down (a good chunk of that is the first payment), and our monthly payment is $400 less then if we bought it on a 60-month loan.
Not sure where we 'shelled out a ton of cash'
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TheLost
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TheLost
Joined
Jun 30, 2017
Last login
May 2, 2024
Total posts
19,093 (281 FO)
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Messages
Author
Time
If you’re going to lease a vehicle, is the lease price based off the MSRP?
Coug
All-American
7/19/19 7:30am
#1 rule... Always negotiate..
TheLost
7/19/19 7:42am
Here is a good guide on how to calculate a lease payment..
TheLost
7/19/19 7:45am
Why does anybody lease? I've never seen any sense in leasing.
HighHorse
7/19/19 7:51am
Low payment, new car every 3 years. To some that's worth shelling out a ton of cash for the lack of headache.
Bert609
7/19/19 7:54am
Shelling out a ton of cash?
TheLost
7/19/19 8:00am
It's all perspective. I'm paying $280/month for 60 months for a Lexus GX470 with 0-down and at the end of
Bert609
7/19/19 8:10am
So you bought a used car (~$18k and put ~$5k down) and got a $280 payment...
TheLost
7/19/19 8:24am
He put 0 down.
Baron
7/19/19 8:34am
So he bought a 2005 GX470 w/100k miles for $13k.
TheLost
7/19/19 8:40am
Close, I bought a 2008 GX470 with 99k for $14k with 0-down.
Bert609
7/19/19 8:44am
Awesome car, will run forever. But that's apples to oranges
TheLost
7/19/19 8:48am
My original post was "why do people lease". Because some people prefer "shelling out a ton of money" to have
Bert609
7/19/19 8:55am
You can lease a Lexus for that little?
TNT
7/19/19 8:28am
You can buy a Lexus with 100k miles for that little.
TheLost
7/19/19 8:40am
Leasing costs a lot more overtime in almost all cases.
Baron
7/19/19 8:11am
So is it an image based decision? Or good for small business and tax deductions?
Q-grr
7/19/19 8:21am
From a financial standpoint, certain cars have a buy back point
Baron
7/19/19 8:25am
I lease for 2 reasons.
Lance71
7/19/19 9:37am
Leasing for me is about 2 to 5 times more expensive than buying, depending on
Baron
7/19/19 9:46am
I've leased several cars and always left without paying a dime.
Lance71
7/19/19 8:08am
You have returned your leases with enough equity to cover the entire lease amount over 60 months? That's incredibly
Bert609
7/19/19 8:11am
It’s not too hard to do. I’ve done it with several leases. I actually made some
Soy Celeste
7/19/19 8:26am
I got a check for ~$3k from the equity in the lease i just returned.
TheLost
7/19/19 8:43am
Subtract that from your monthly payment, how much do you pay in total? And did
Baron
7/19/19 9:00am
Over 36 months.. i paid less on my lease payment than a loan payment.
TheLost
7/19/19 9:13am
Yea but then you have to add the next lease amount to that for the total out lay
Baron
7/19/19 9:22am
Newer car.. roughly the same payment (same milage allowance).. i put less down.
TheLost
7/19/19 9:26am
Yea and I never have a car payment unless they offer 0%. So you pay a ton more
Baron
7/19/19 9:43am
I also must drive a much nicer car... so there is no point in your argument.
TheLost
7/19/19 10:12am
Exactly you are shelling out a ton of money still but it is worht it to you.
Baron
7/19/19 10:19am
I meant not paying a dime as a down payment. Not the entire lease.
Lance71
7/19/19 9:32am
Shelling out a ton of cash is having a car old enough to need
Lip Gallagher
7/19/19 8:19am
It's all opportunity cost. I'm not knocking on leases, but I'm not in denial that they are "cheap" either. And in
Bert609
7/19/19 8:47am
Eh. I've never leased, but a car is always an expense. Some people like driving latest model cars
mik3
7/19/19 7:55am
No. Look up the username Negativeequity. He did a huge thing on leases a while
PessimisticCB
7/19/19 9:02am
I have leased three vehicles. The lease is based off the price
PessimisticCB
7/19/19 9:03am
Check your BM - Both the MSRP and Negotiated price
Negative Equity
7/19/19 11:01am
Yeah, this guy, this guy knows everything about leasing/buying vehicles
PessimisticCB
7/19/19 11:10am
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