Am I a sucker for leasing all of our family cars?

[Anonymous]

Anonymous wrote:I’ve posted this several times in other posts but the lease worshippers always skip over it and ignore it because it doesn’t fit their narrative. My friend and I bought new Honda Odyssey’s within a month of each other. Same packages. We paid cash in full. They leased for $500/month. 3 years later we both swapped them out for new vans. DH and I had to pay $10k + our old van for the new van. So our old van depreciated $10k in 36 months, or $277/month.

Apples to apples and I paid almost half what my friend did.

Again, lease if you want. No one cares. But stop insisting it’s cheaper. It isn’t, not even close.

Again, just because you can't make a lease work or because your neighbor's sister's college roommate once spent too much money on a car lease does not mean that those of us who understand money can't. See the Tahoe lease calculations at the top of the page

[Anonymous]

As with every post on DCUM, it ends with, well, if your HHI is $350K+ none of this advice applies to you -- I'd lease peace of mind, too, at that HHI.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’ve posted this several times in other posts but the lease worshippers always skip over it and ignore it because it doesn’t fit their narrative. My friend and I bought new Honda Odyssey’s within a month of each other. Same packages. We paid cash in full. They leased for $500/month. 3 years later we both swapped them out for new vans. DH and I had to pay $10k + our old van for the new van. So our old van depreciated $10k in 36 months, or $277/month.

Apples to apples and I paid almost half what my friend did.

Again, lease if you want. No one cares. But stop insisting it’s cheaper. It isn’t, not even close.

Again, just because you can't make a lease work or because your neighbor's sister's college roommate once spent too much money on a car lease does not mean that those of us who understand money can't. See the Tahoe lease calculations at the top of the page

The Tahoe poster couldn’t pass 10th grade math. But you part with your money however you like.

[Anonymous]

Anonymous wrote:As with every post on DCUM, it ends with, well, if your HHI is $350K+ none of this advice applies to you -- I'd lease peace of mind, too, at that HHI.

Please stop assuming those of us who buy cars lack peace of mind. We don’t.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’ve posted this several times in other posts but the lease worshippers always skip over it and ignore it because it doesn’t fit their narrative. My friend and I bought new Honda Odyssey’s within a month of each other. Same packages. We paid cash in full. They leased for $500/month. 3 years later we both swapped them out for new vans. DH and I had to pay $10k + our old van for the new van. So our old van depreciated $10k in 36 months, or $277/month.

Apples to apples and I paid almost half what my friend did.

Again, lease if you want. No one cares. But stop insisting it’s cheaper. It isn’t, not even close.

Again, just because you can't make a lease work or because your neighbor's sister's college roommate once spent too much money on a car lease does not mean that those of us who understand money can't. See the Tahoe lease calculations at the top of the page

What’s the down payment at the start of the lease? What’s the mileage limit- 30,000? What the cost per mile if you exceed that? What is “normal wear”? They are going to hit you with so many fees your head will spin. At the end of the lease, you will be pushed into a new lease and own nothing. The only way leasing makes financial sense is as part of a corporate fleet where you have some power to lower the price and you can write off the cost. You are the kind of person who will happy pay more for trucoat from the deal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’ve posted this several times in other posts but the lease worshippers always skip over it and ignore it because it doesn’t fit their narrative. My friend and I bought new Honda Odyssey’s within a month of each other. Same packages. We paid cash in full. They leased for $500/month. 3 years later we both swapped them out for new vans. DH and I had to pay $10k + our old van for the new van. So our old van depreciated $10k in 36 months, or $277/month.

Apples to apples and I paid almost half what my friend did.

Again, lease if you want. No one cares. But stop insisting it’s cheaper. It isn’t, not even close.

Again, just because you can't make a lease work or because your neighbor's sister's college roommate once spent too much money on a car lease does not mean that those of us who understand money can't. See the Tahoe lease calculations at the top of the page

What does this mean? Any idiot can "make a lease work." Many dealerships don't even require you to put money down or have decent credit. Because they making so much on the lease they don't care. They get a huge kickback from the manufacturer to simply get the lease signed.

[Anonymous]

Yeah, I'm just wondering where all these cars are that never ever break down. Or maybe this is just a thread where people self-select.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’ve posted this several times in other posts but the lease worshippers always skip over it and ignore it because it doesn’t fit their narrative. My friend and I bought new Honda Odyssey’s within a month of each other. Same packages. We paid cash in full. They leased for $500/month. 3 years later we both swapped them out for new vans. DH and I had to pay $10k + our old van for the new van. So our old van depreciated $10k in 36 months, or $277/month.

Apples to apples and I paid almost half what my friend did.

Again, lease if you want. No one cares. But stop insisting it’s cheaper. It isn’t, not even close.

Again, just because you can't make a lease work or because your neighbor's sister's college roommate once spent too much money on a car lease does not mean that those of us who understand money can't. See the Tahoe lease calculations at the top of the page

What’s the down payment at the start of the lease? What’s the mileage limit- 30,000? What the cost per mile if you exceed that? What is “normal wear”? They are going to hit you with so many fees your head will spin. At the end of the lease, you will be pushed into a new lease and own nothing. The only way leasing makes financial sense is as part of a corporate fleet where you have some power to lower the price and you can write off the cost. You are the kind of person who will happy pay more for trucoat from the deal.

Well you could listen to all the leasers here who tell you it's not a big deal, or you can listen to people who have never leased a car in their life.

You'll be fine if you treat it right, that might be a big difference to someone with an old shitbox they have to floor everytime.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’ve posted this several times in other posts but the lease worshippers always skip over it and ignore it because it doesn’t fit their narrative. My friend and I bought new Honda Odyssey’s within a month of each other. Same packages. We paid cash in full. They leased for $500/month. 3 years later we both swapped them out for new vans. DH and I had to pay $10k + our old van for the new van. So our old van depreciated $10k in 36 months, or $277/month.

Apples to apples and I paid almost half what my friend did.

Again, lease if you want. No one cares. But stop insisting it’s cheaper. It isn’t, not even close.

Again, just because you can't make a lease work or because your neighbor's sister's college roommate once spent too much money on a car lease does not mean that those of us who understand money can't. See the Tahoe lease calculations at the top of the page

What does this mean? Any idiot can "make a lease work." Many dealerships don't even require you to put money down or have decent credit. Because they making so much on the lease they don't care. They get a huge kickback from the manufacturer to simply get the lease signed.

Life isn't a zero sum game.

Is this honestly how you go through life, anything I have I took away from someone? It sounds sad

[Anonymous]

Anonymous wrote:

Anonymous wrote:As with every post on DCUM, it ends with, well, if your HHI is $350K+ none of this advice applies to you -- I'd lease peace of mind, too, at that HHI.

Please stop assuming those of us who buy cars lack peace of mind. We don’t.

For how long? Eventually the car gets to be 10 years old.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As with every post on DCUM, it ends with, well, if your HHI is $350K+ none of this advice applies to you -- I'd lease peace of mind, too, at that HHI.

Please stop assuming those of us who buy cars lack peace of mind. We don’t.

For how long? Eventually the car gets to be 10 years old.

I trade mine in every 3-5 years. Still way cheaper buying than leasing. Never do more than oil changes. DH’s car is a 2011. He’s never had to do anything either. What kind of car are you buying that would break down at 37 months of age?

You want a new car every 3 years. Just own it. Stop trying to make it a smart financial move.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As with every post on DCUM, it ends with, well, if your HHI is $350K+ none of this advice applies to you -- I'd lease peace of mind, too, at that HHI.

Please stop assuming those of us who buy cars lack peace of mind. We don’t.

For how long? Eventually the car gets to be 10 years old.

I trade mine in every 3-5 years. Still way cheaper buying than leasing. Never do more than oil changes. DH’s car is a 2011. He’s never had to do anything either. What kind of car are you buying that would break down at 37 months of age?

You want a new car every 3 years. Just own it. Stop trying to make it a smart financial move.

It's not "way" cheaper. Maybe cheaper by a grand, sometimes it's more expensive by a grand. And in case you haven't noticed, you don't trade your cars every 3-5 years

[Anonymous]

Yes. Def.

[Anonymous]

Anonymous wrote:I’ve posted this several times in other posts but the lease worshippers always skip over it and ignore it because it doesn’t fit their narrative. My friend and I bought new Honda Odyssey’s within a month of each other. Same packages. We paid cash in full. They leased for $500/month. 3 years later we both swapped them out for new vans. DH and I had to pay $10k + our old van for the new van. So our old van depreciated $10k in 36 months, or $277/month.

Apples to apples and I paid almost half what my friend did.

Again, lease if you want. No one cares. But stop insisting it’s cheaper. It isn’t, not even close.

$500/month for a Honda minivan is an AWFUL lease, which makes your anecdote a non-starter. OP said they were leasing a Tahoe for $600/month. I'd bet the Tahoe's MSRP was DOUBLE that Honda.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’ve posted this several times in other posts but the lease worshippers always skip over it and ignore it because it doesn’t fit their narrative. My friend and I bought new Honda Odyssey’s within a month of each other. Same packages. We paid cash in full. They leased for $500/month. 3 years later we both swapped them out for new vans. DH and I had to pay $10k + our old van for the new van. So our old van depreciated $10k in 36 months, or $277/month.

Apples to apples and I paid almost half what my friend did.

Again, lease if you want. No one cares. But stop insisting it’s cheaper. It isn’t, not even close.

$500/month for a Honda minivan is an AWFUL lease, which makes your anecdote a non-starter. OP said they were leasing a Tahoe for $600/month. I'd bet the Tahoe's MSRP was DOUBLE that Honda.

PP's friend got taken advantage of (and I doubt she paid only 10K but Ill let that go)