View Poll Results: Just wondering how many people lease or finance/own
I lease
41
19.90%
I own/finance
165
80.10%
Voters: 206. You may not vote on this poll
Just wondering how many people lease or finance/own
09-19-07, 10:24 AM
#16
I lease but only because I can write off the expense (payment and maintenance). In addition, I receive a stipend each month that covers my car expenses. This way I am not using my own income to purchase a new car. Otherwise I would go with the financing or cash route.
Regards,
NHman
Regards,
NHman
09-19-07, 10:53 AM
#17
Intermediate
This topic has been discussed EXTENSIVELY with some people getting really crazy about thier positions on each side of the fence. In the end, its almost always been determined that people that lease (like me) are in a better situation if they are self employed and can some how write of the expense of the vehicle (like i do) while people that don't get the tax benefit are better off buying. The difference is really quite slim either way.
Personally, I think that some people are preconditioned to like holding on to cars for a long period of time, and those people are the ones that maximize the benefit of purchasing a car.
Others can go through the whole purchase process and then realize they are sick of the car and want to sell. Lexus is a good deal either way IMO as it is a quality car w/ a great warranty. I'm getting a new one every 2 1/2 to 3 years though! (no money down by the way!)
Personally, I think that some people are preconditioned to like holding on to cars for a long period of time, and those people are the ones that maximize the benefit of purchasing a car.
Others can go through the whole purchase process and then realize they are sick of the car and want to sell. Lexus is a good deal either way IMO as it is a quality car w/ a great warranty. I'm getting a new one every 2 1/2 to 3 years though! (no money down by the way!)
09-19-07, 06:20 PM
#18
This is the first car (of many) that I've leased. I decided to give it a try since my last purchase (loan on an '02 Honda S2000) was still upside down after 4 years of a 6 year loan. I've always made poor financial decisions about cars, but I hope this one isn't as poor as the last one.
09-19-07, 06:32 PM
#19
Lexus Champion
09-20-07, 10:12 AM
#20
Rookie
Thread Starter
Join Date: Mar 2007
Location: fort lee
Posts: 61
Likes: 0
Received 0 Likes
on
0 Posts
This is the first car (of many) that I've leased. I decided to give it a try since my last purchase (loan on an '02 Honda S2000) was still upside down after 4 years of a 6 year loan. I've always made poor financial decisions about cars, but I hope this one isn't as poor as the last one.
09-20-07, 10:37 AM
#22
Lead Lap
Join Date: Mar 2006
Location: houston, TX
Posts: 560
Likes: 0
Received 0 Likes
on
0 Posts
I guess depends on the residual. For a lexus I'd lean towards buying, which is what I did with my is350. BMW residuals are much higher, better lease rates, so I leased our X5.
09-20-07, 01:15 PM
#26
Lead Lap
Join Date: Mar 2006
Location: houston, TX
Posts: 560
Likes: 0
Received 0 Likes
on
0 Posts
I think the lease on a GS350 is comparable to that of a 550i, even though the bimmer costs $15k more.
My brother just recently leased an ES350, his residual was 55%. The residual for my X5 was 61% for the same lease terms. The residual on an X3 was 67%.
09-20-07, 02:24 PM
#27
Pole Position
Join Date: Sep 2006
Location: Florida
Posts: 310
Likes: 0
Received 0 Likes
on
0 Posts
i bought mine out right, i cut a 40,000 check right in front of them and they looked at me and said i cant tkae the car till the check clears. I guess it was because im only 20. (its not my parents money, i work and go to sckool, im just blessed with a great job)
09-20-07, 04:26 PM
#30
That would contradict the statement that it wasn't his / her parent's money, and that he / she was blessed with a great job. The only occupation I know of that pays so well that a 20 year old could pay $40K n cash for a car while still in sckool (intentionally mispelled) is the sex industry (movies, dancing, escorting, etc.).