Is i stupid to lease cars?

[Anonymous]

Why or why not?

[Anonymous]

No, it's much smarter than buying a new car. Of course I don't know your particulars and there are pro's and con's to anything.

[Anonymous]

pros and cons of leasing. it all depends on what your like and your situation. you can easily google too

[Anonymous]

If you are someone who likes to have new cars, and you don't trash your cars, then it makes sense. You are paying a premium, but you are paying a premium for something you care about.

If you are happy to own a car for a decade or more, then no, it does not.

[Anonymous]

I’m thinking about leasing exclusively once I hit a certain age. Maybe 65 or 70.

[Anonymous]

Anonymous wrote:I’m thinking about leasing exclusively once I hit a certain age. Maybe 65 or 70.

why?

[Anonymous]

Generally it makes financial sense to lease if you keep a cars for 4-5 years or less. My rule is 6+ years then buy, any less the convenience of a lease makes up for a very small cost difference between years 4-6.

But With the inflationary environment we are in the old rule may not apply. Used car prices have boomed but who can predict a few years out.

[Anonymous]

Financially, yes.

Basically it’s like the long-term rental of a car, instead of owning a car.

[Anonymous]

If you don't keep cars for several years, lease. If you drive cars for 10 years, buy.

[Anonymous]

Anonymous wrote:Financially, yes.

Basically it’s like the long-term rental of a car, instead of owning a car.

Renting long term would not make sense, unless "long term" means only a year or two.

[Anonymous]

Most leases are 3 years.

If you like a new car every 3 years then it’s cheaper to lease.

If you keep cars for 9+ years it’s much cheaper to buy, but you are driving a 0-9 year old car instead of a 3 0-3 year old cars.

At 6, buying is a little cheaper. But you could have had 2 cars instead of 1. I keep my cars so I buy, but I would lease if I kept them less then 6-7 years.

[Anonymous]

DH and I have been discussing this recently. DH will need a new car next year, most likely. We are thinking EVs, but we think EV tech will change in 3 to 5 years as more and more companies move to EV.

So, DH is thinking of leasing for 3 years, EV or hybrid, then seeing what's on the market afterwards.

[Anonymous]

Anonymous wrote:DH and I have been discussing this recently. DH will need a new car next year, most likely. We are thinking EVs, but we think EV tech will change in 3 to 5 years as more and more companies move to EV.

So, DH is thinking of leasing for 3 years, EV or hybrid, then seeing what's on the market afterwards.

This is an interesting perspective.

[Anonymous]

You is.

[Anonymous]

Leasing a car is like buying a new car every three years. Financially it is stupid. The best financial choice is to typically buy a 3-5 year old car and then drive it into the ground.