Giggity

Uhhmm, O.K.. Is your Lexus sales person also your investment banker, is that how they talked you into a lease?
What color is the sky in your world?
Do I need a passport to visit?

meefer

iTrader: (8)

If you own the car, drive until you get sick of it or until something major is about to go.

But do NOT trade it in - the dealer will ream you. Private party, carmax if you feel lazy.

3-4 years is not a long time to own a car. I think i rad that the average car in the USA has been on the road something like 7-9 years? Depends where you live obviously.

If you can afford the loss you would take, then by all means buy a new car every 3-4 years. Just know that your car would most likely last another 4-6 years (unless you drive like 30K miles a year).

Leasing is a whole other deal and I doubt a part of your question since you're "trading it in."

APBT4Me

sorry bro the salesmans is not my investment banker...in fact i work in investments and all i know is i would much rather have the cash in my pocket and pay the car dealer in devalued dollars than pay them in full like i used to and have less cash to invest

as for the lease over finance i simply no longer want to own any vehicle. i go through them too frequently and never want to suffer the depreciation from something that wasnt my fault...with my lease the way i see it i am only paying $21/day to drive this car and i feel no depreciation...seems like the best deal in town to me

and to the fella who said that insurance companies are responsible for the edepreciation and should cut you a check...um no. i wish i lived in that fantasy land but the only thing they are required to do is return the car physically and mechanically to where it was before the occurance. the depreciation is felt on the resale/trade-in side and there is NO way to get them to compensate you for that as it is legally not ther responsibility and insurance companies are in fact businesses worried about the bottom line...so they are not inclined to just write bigger checks to their clients nor the people they hit.

FiveOhNine

So....you're paying the same amount/month that I am, saved a few thousand on a down payment, but I am left with something of value after we finish payments?

Sounds awesome

Evitzee

This is the argument I always make. With leasing you have a perpetual car payment for renting a vehicle; it goes on FOREVER. If you buy a vehicle you eventually own it and have free use of it (except for maintenance) for the rest of its life. For those people who have been conditioned to feel that they MUST have a new vehicle every two or three years, leasing could be cheaper on a month to month basis. But a new article that just came out says people are keeping their vehicles longer and longer, something like 9.2 years on median. There is no way leasing can be cheaper in the long run with these types of numbers. https://www.clublexus.com/forums/sho...d.php?t=337593

Unfortunately we have been conditioned to focus on monthly payments (housing, cars, credit cards) rather than what the long term, final cost is of the product or service. We are a nation of 'payment minimizers', rather than 'wealth maximizers'. We are a nation of financial dunderheads.

APBT4Me

if you are gonna drive it into the ground until it has literally zero value than yeah you got a better deal and like i said previously hopefully you never get into an accident b/c if you do and you decide to sell your car you will wish you leased. at that point i will have my brand new whatever i decide to buy and you will be struggling to resell you damaged goods or maybe you'll decide to bend over and let the dealer have their way with you.

either way i put much less down than you and have the know how to make my money work for me so financially it made way more sense for me...no contest!

that said we both keep restating our POVs and trying to convert the other to believing our position. THat will never happen. i used to believe what you do and base on my experiences never will again. so i am retiring from this tired arguement...

FiveOhNine

Well, you are spending $600/month, $7200/year, $72000/decade for the rest of your life (or so it seems). That's a lot of diligent, hard working dollars to which Lexus has made a better offer.

I guess we'll just have to agree to disagree.