Question on leasing GS350
05-16-10, 08:13 AM
#16
Emotions aside, accounting principles say if you hold on to a car for 6 1/2 years or longer, you are better off with a purchase. Leasing...usually you do not come out better financially leasing a car every three years.
This topic has been discussed to exhaustion in previous threads. If you think in numbers, one is better off buying. If you calculate emotions into the equation, then leasing can be rationalized.
For the record, I have rationalized my lease; which expires soon.
Last edited by Bushwack; 05-16-10 at 08:33 AM. Reason: typo
05-16-10, 08:34 AM
#17
Leasing is a good waste of money.
That and the Toyota 3.5 has issues that won't be fixed. A friend at work says his Gs350 does the same ****.
Here's my 2008 Sienna with the 3.5
http://www.youtube.com/watch?v=nGYlO_peq1Q
That and the Toyota 3.5 has issues that won't be fixed. A friend at work says his Gs350 does the same ****.
Here's my 2008 Sienna with the 3.5
http://www.youtube.com/watch?v=nGYlO_peq1Q
05-16-10, 04:26 PM
#18
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Your opinion is just that - your opinion. My car is leased. I can easily afford the car. I have two other cars that I own. Every situation is different. I've run the numbers - and I'm pretty good at it. Given the deal I got and how long I typically keep my car I've concluded that I'm better off leasing and not putting down money on a new one every two to three years.
Yes, there are people who lease who keep your friend in business. But the same can be said for people who buy.
As to how good the deal is - as some have said, it depends on how taxes are calculated and paid in your state. But without tax, 701 sounds very fair for a three year/15k per year lease. But be sure to look at every aspect of the deal just like you would if you were buying. What is the "sell" price, what is the money factor and what is the residual. The residual is set by Lexus Financial and the money factor has a base rate set by Lexus - but the dealer can (and usually does) mark that up.
Yes, there are people who lease who keep your friend in business. But the same can be said for people who buy.
As to how good the deal is - as some have said, it depends on how taxes are calculated and paid in your state. But without tax, 701 sounds very fair for a three year/15k per year lease. But be sure to look at every aspect of the deal just like you would if you were buying. What is the "sell" price, what is the money factor and what is the residual. The residual is set by Lexus Financial and the money factor has a base rate set by Lexus - but the dealer can (and usually does) mark that up.
Dealers and Bankers concocted the lease, and it wasn't to make a good deal for consumers. The only way to buy a car is for cash. And only millionaires should buy new cars, according to Dave.
If you are not a millionaire the market is loaded with 2 - 4 year old nearly mint condition low mileage cars that you can buy for 25% less than some sucker paid new.
Buy a 2 year old car, for cash, let someone else take the depreciation and drive it till the wheels fall off. Cars are just a way to lose money, it's up to you to decide how much you want to lose.
Last edited by gsexy300; 05-16-10 at 04:34 PM.
05-16-10, 04:29 PM
#19
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The point is new cars today last longer than ever. I'm 38, drive an '06 GS300 that i got in '-08 with 20K on the clock. Paid $35000 cash for it, and it could easily be the last car i ever have to purchase. Lexus's last nearly forever, and yes it may be costly to fix but it's still going to be cheaper than buying a new car every 3, 5, or even 8 years.
05-16-10, 04:33 PM
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Leasing is a good waste of money.
That and the Toyota 3.5 has issues that won't be fixed. A friend at work says his Gs350 does the same ****.
Here's my 2008 Sienna with the 3.5
http://www.youtube.com/watch?v=nGYlO_peq1Q
That and the Toyota 3.5 has issues that won't be fixed. A friend at work says his Gs350 does the same ****.
Here's my 2008 Sienna with the 3.5
http://www.youtube.com/watch?v=nGYlO_peq1Q
hmmm, I keep hearing about this issue on the 3.5, but not on the 3.0. Do I finally have a reason to feel smug about my poor, slow-*** GS 300 with it's puny but silent 3 litre engine?
05-16-10, 07:12 PM
#22
Sorry, but there's a reason Suze Orman and Dave Ramsey call it a 'fleece'.
Dealers and Bankers concocted the lease, and it wasn't to make a good deal for consumers. The only way to buy a car is for cash. And only millionaires should buy new cars, according to Dave.
If you are not a millionaire the market is loaded with 2 - 4 year old nearly mint condition low mileage cars that you can buy for 25% less than some sucker paid new.
Buy a 2 year old car, for cash, let someone else take the depreciation and drive it till the wheels fall off. Cars are just a way to lose money, it's up to you to decide how much you want to lose.
Dealers and Bankers concocted the lease, and it wasn't to make a good deal for consumers. The only way to buy a car is for cash. And only millionaires should buy new cars, according to Dave.
If you are not a millionaire the market is loaded with 2 - 4 year old nearly mint condition low mileage cars that you can buy for 25% less than some sucker paid new.
Buy a 2 year old car, for cash, let someone else take the depreciation and drive it till the wheels fall off. Cars are just a way to lose money, it's up to you to decide how much you want to lose.
I have no delusions about whether or not it costs more to buy a new or used car, or whether or not its cheaper to keep a car for six years as opposed to 2-3 years. I buy what I like because I'm a huge car nut, and I can afford to **** away the money I'm spending on cars - and nobody else is getting hurt.
I'll make you a deal, how about we start listing all of the things we spend money on - smoking, drinking, expensive dinners, expensive vacations, how many kids we have etc. Suze Orman and Dave Ramsey give financial advice. Some people need financial advice. I'm not trying to get out of financial problems, nor am I trying to figure out how to retire at 50 years old. I'm enjoying my life and have a good balance of things I enjoy and money in the bank.
Anyone who is going to give out advice on buying new versus used, or keeping a car for X number of years as a means to financial success shouldn't be on a Lexus forum to begin with. Go buy a two year old used Honda Civic if it really is all about buying whatever the most financially sound automobile deal is.
Sorry about the rant - I'm on the Corvette forum in a big way, and I'm always amused on that forum when they start talking about how silly people are for buying new Corvette every year or two as if buying any Corvette is a rational financial move.
05-20-10, 10:58 PM
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Perhaps you misunderstood my post. What I said is that I've run the numbers and that based upon my lease deal I feel pretty confident that I will come out about the same as purchasing given that I only keep a car 2-3 years at the most.
I have no delusions about whether or not it costs more to buy a new or used car, or whether or not its cheaper to keep a car for six years as opposed to 2-3 years. I buy what I like because I'm a huge car nut, and I can afford to **** away the money I'm spending on cars - and nobody else is getting hurt.
I'll make you a deal, how about we start listing all of the things we spend money on - smoking, drinking, expensive dinners, expensive vacations, how many kids we have etc. Suze Orman and Dave Ramsey give financial advice. Some people need financial advice. I'm not trying to get out of financial problems, nor am I trying to figure out how to retire at 50 years old. I'm enjoying my life and have a good balance of things I enjoy and money in the bank.
Anyone who is going to give out advice on buying new versus used, or keeping a car for X number of years as a means to financial success shouldn't be on a Lexus forum to begin with. Go buy a two year old used Honda Civic if it really is all about buying whatever the most financially sound automobile deal is.
Sorry about the rant - I'm on the Corvette forum in a big way, and I'm always amused on that forum when they start talking about how silly people are for buying new Corvette every year or two as if buying any Corvette is a rational financial move.
I have no delusions about whether or not it costs more to buy a new or used car, or whether or not its cheaper to keep a car for six years as opposed to 2-3 years. I buy what I like because I'm a huge car nut, and I can afford to **** away the money I'm spending on cars - and nobody else is getting hurt.
I'll make you a deal, how about we start listing all of the things we spend money on - smoking, drinking, expensive dinners, expensive vacations, how many kids we have etc. Suze Orman and Dave Ramsey give financial advice. Some people need financial advice. I'm not trying to get out of financial problems, nor am I trying to figure out how to retire at 50 years old. I'm enjoying my life and have a good balance of things I enjoy and money in the bank.
Anyone who is going to give out advice on buying new versus used, or keeping a car for X number of years as a means to financial success shouldn't be on a Lexus forum to begin with. Go buy a two year old used Honda Civic if it really is all about buying whatever the most financially sound automobile deal is.
Sorry about the rant - I'm on the Corvette forum in a big way, and I'm always amused on that forum when they start talking about how silly people are for buying new Corvette every year or two as if buying any Corvette is a rational financial move.
i dont smoke, drink, or take expensive vacations. I do want to retire at 50, and put $35,000 per year into retirement. "Live like no one else so you can live like no one else". We're gonna need at least $1 million to retire the way things are going. It's just not going to be that much money by 2018 or whatever.
05-22-10, 05:47 PM
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05-22-10, 10:58 PM
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doesnt it all depend on the money factor? and if you can you should put up a security deposit. i think 7 is the max? and you get it back at the end of your lease and it drives down payments.
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