LeslieRC

What's "rediculous" about what I wrote? Did you mean to say ridiculous? By the way, if I am paying $1500/month for something, it won't be for a car. To me, that would be ridiculous.

bigDlexus

It is rediculous to say that someone paying almost HALF as much every month for 42 months "won't even own the car". Of course they won't own the car, that's the point! They are not trying to own the car. They will make the decision to own the car AFTER they have determined it is something they would like to keep or not after 42 months. If they get a loan and decide they don't want it after 42 months, then what good did all those extra payment dollars do? Allow the dealer to undercut your trade value and screw you out of a few more thousand dollars?

You WOULD be paying 1500+ per month if you got a 42 month loan with very little down. This is the point you are arguing, right? Why lease for 42 months when you can own something in 42 months? Oh, so you would get a longer loan, right? So after 42 months of huge loan payments you STILL won't own anything? You can't say "i would make a bigger down payment" because down payments are not the topic here.

If you don't understand thecomplexities of leasing, that's fine, I won't judge. Just please don't try to put down those of us that choose to lease by saying that we get to drive cars that "seem affordable" to us. That is an arrogant and NOT humble opinion. I could make an absurdly high loan payment but I choose not to.

LeslieRC

Wow, all I can say about your comments is that you are certainly misreading a lot into this! You totally miss my point. What I was saying was that, to me, $35K is a lot of money to spend on a product and not be able to claim some form of ownership. You seem very sensitive about leasing and it was not my intention to upset you, or anyone else for that matter, because of my opinions regarding the subject. However, when someone asks (as the person who began this thread did) "what do you think about this?", I am going to correctly assume that they are looking for honest opinions and not just sycophantic ramblings. In this connection, I would have hoped that the fact that my opinion about the subject differs from yours would have made for some interesting thought or discussion, and not be perceived as a put-down.

Good luck with your lease.

bigDlexus

Understood- but,

your comment about leasing being a concoction that "makes things seem affordable" is, by any standard, arrogant. It clearly implies that you belive that if you can't get a loan on it you shouldn't have it. I am not personally offended, I am merely pointing this out for you.

If you do not understand the implications and pitfalls of purchasing depreciating assets, then you will not have a well rounded opinion of the forum question "what do you think". If, by chance, you are a business owner, then I'm sure you understand the benefits of leasing ALL kinds of equipment. It happens constantly in this world, and not just for tax breaks.

You should look at a non-business individual as someone that needs a peice of equipment to run their life. They choose not to try to own this peice of equipment because it is essentially futile. The equipment will eventually be worthless, so what is the point of being in such a hurry to own it? Why not take the saved money and pay down your house note so you can OWN an appreciateing asset instead?

I understand it is your opinion that you would like to own something after paying for 4 years. This still just doesn't make sense. If you made loan payments for 3.5 out of 5 years and then wanted a different car- you still OWN NOTHING. Get the point?

Thank you for the well-wishing. I will have good luck with my lease because I know what I 'm doing.

LeslieRC

As the late President Reagan once remarked, "there you go again!" Please stop taking my words out of context to make your points. Misquoting me doesn't make what you're saying any more important or significant. However, while it's not what I said (or implied), there is nothing arrogant or wrong about wanting to own something outright. I was raised by people who believed in saving, and paying cash instead of on-credit. Those were their values. There's nothing right or wrong about that. The fact that I may sometimes borrow and pay interest as a related cost for borrowing to purchase an item when I don't have, or don't care to spend, the cash is merely a choice. Again, not a right or a wrong thing. And since you went there regarding my beliefs, let me be clear about what I believe: I believe in consideration of others, free choice, free expression of ideas, and that people are entitled to whatever they can afford by any legal means.

OneOfOne

some people like to own their car. they purchase it with the intent of keeping it for years. in this instance the purchase is not an 'investment'. its just a purchase of property not a commodity to be recycled intentionally. I have never understood why people say cars are poor 'investments' . they are just transportation. not a criticism of leasing since that has its benefits to those who chose them. and people really should start comprehending what others post before they attack them.

Little

#1 reason i will be leasing, a 0 down lease only, just initial payment and fees upfront, is that i def will not be in the car longer than 3 years. I always want something new, and selling anymore is just a horrible experience. Most of the time i will have to get rid of one car before i can get the new one i want, and it could take months. Lease over, done, hand it over.

DeniskaGS4

my sc430 lease was much less then my current lease on the ls430 ul.. im paying $1080/month for the LS and was paing $300 less a month on my sc..

rominl

iTrader: (4)

wow damn, tht's a lot of money for the ls430 ul!!!!!!!!! i was offered 810 a month i believe. man, that's a lot of money out of your pocket!

and little, if you wanna change car often, for all you care, lease!

bigDlexus

I truly do not care either way who leases and who buys and why they do what they do and when they do it. I lease my LS, and we OWN my wife's suv. I find it very respectable that someone pays cash for everything- truly. Myself, I only carry credit for a car and the house.

I agree with the opinion that owning is good for some people- I NEVER argued otherwise- I stated many reasons besides "only seems affordable" for someone to lease. Sure-some people use leasing as a means to get something that really puts them in over their head- and that is troubling, but it is the exception, not the rule.

I just don't care for someone trying to sound like an expensive vehicle is affordable only if you can buy it. It is this statement alone that needed addressing and you seem determined to accuse me of quoting instead of rescinding or defending your statement. If your opinion is that buying is good- then great, I will even give you some good reasons why you should buy. But you should say that and not try to humbly insult people in the process.

jflynn

I like a new car every 2 or 3 years. I don't care if it's leased, financed, purchased outright, or timeshared from an expatriate of Ghana ... whatever is going to cost me the least over the long run is the best decision.

bigDlexus

Well stated- I completely agree.

lkirchner

Quite a SURLY group on this forum!!!!!!

LeslieRC

I don't care for that point-of-view either, and I think everyone (including me) knows how you feel. I know what I meant when I stated my opinion and it's not what you perceived. One of the things I do in my job is to provide education and economic development opportunities to low-income, minority, and immigrant communities throughout the U.S. In particular, I leverage financial institutions, community organizations, and businesses to participate in financial literacy initiatives and programs that provide economic opportunity for those communities. In this connection, and contrary to your experiences, I have witnessed numerous instances of people in those communities being abused and taken advantage of through leasing contracts for all manner of goods and, perhaps, those occurrences have influenced my perceptions and opinion regarding that industry in general. You are absolutely correct in your statement that people need to understand leasing and know how to make it work for them before they enter into those types of transactions.

bigDlexus

extending the olive branch here- it sounds as if we agree on this. Leasing is used to screw some people- I can VERY much understand from your experience how you have been soured on the idea of leasing or financing from unscrupulous individuals. In my past, I have seen people get screwed with regular car loans, also.

I got screwed buying a new house that was put together by monkeys, that didn't make the industry crooked- just that builder.

LFS together with a reputatble dealer like the the one here in Dallas to their best to shake the bad stigma that follows dealerships and auto financing/leasing.

If you don't know what you are doing when you walk into a car dealer, you can get screwed 15 different ways and still think you got a good deal. Buying, leasing, paying cash, washing dishes, whatever...