How is anyone leasing cars right now?
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Anonymous
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We are up on our lease for our 2021 Subaru forester. We are now being quoted $425/month for the 2023 model and $480/ month for a 2024 Outback!!
These are numbers to lease a Subaru!! Not even a luxury car! |
Anonymous
| This is why leasing sucks. You’re forced to get another lease (or buy) when your lease is up. Continuing to lease means you always have a car payment. |
Anonymous
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Leasing is for businesses so it’s a pure expense and the car is too new to need any repairs. It’s business equipment |
Anonymous
Lease is based on the price of the car, which is what you want to negotiate. Cars have become a lot more expensive since 2021, in case you weren’t aware. |
Anonymous
| Wait, people still lease cars? Might as well set fire to your money. |
Anonymous
| Just buy the car you’re leasing now. |
Anonymous
| I have a leased Subaru too. I probably won’t do it again because of interest rates, and I might just buy the rest of the car. I don’t know about the math in the end. Maybe it would have been cheaper if I bought the car in cash and then sold it, but I’m not sure because interest rates went up so much in the interim so that cash is earning a lot. |
Anonymous
This. The car market has changed dramatically since 2021. Leasing is for businesses and lazy people with more money than brains. |
Anonymous
| Yep. Dealing with this now. Leasing was fine when you could get a monthly payment to 1% of MSRP — ex. $40K car for $400 month. Now a $40K car might be $700 month. Hell no. |
Anonymous
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Leasing makes sense if it’s A) an unreliable but sexy car like a Mercedes that you want to ditch in 3 years before it becomes a money pit, B) certain business owners where there may be tax/accounting advantages to lease, or C) certain types of EVs because the tech is evolving quickly.
You don’t lease a Subaru; you buy it and drive it for ~10+ years. |
Anonymous
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Lease Audis Mercedes or any other car that you don’t want maintenance after three years
Leasing is rarely financially smart Buy out your lease OP Or start fresh with a Toyota and keep it this time |
Anonymous
I think what you mean is that it was stupid then, and is idiotic now. |
Anonymous
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Dealers push leases around here because they make far more money off a lease than a sale, even with financing. This is true no matter what interest rates are doing.
I’m not interested in enriching dealers at my own expense just to impress randos. |
Anonymous
Your 2021 probably has a lot of equity. Just keep the 2021 and buy it out and wait for interest to tamp down in Q2 or Q3. It's the interest (i.e. money factor) on leases that has pushed payments up so high. |
Anonymous
| It's a way to not pay taxes on income. |