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

[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.

at $250 a month lease op lost $1000 in her own scenario (entirely fictional scenario)

[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.

$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.

at $250 a month lease op lost $1000 in her own scenario (entirely fictional scenario)

PP I mean

[Anonymous]

Anonymous wrote:

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.

$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.

at $250 a month lease op lost $1000 in her own scenario (entirely fictional scenario)

PP I mean

+1

[Anonymous]

We business lease one of our 3 cars. We can afford to buy the car cash. Just prefer to get a new car every 2-3 years.

[Anonymous]

Difference between a GOOD lease and a terrible lease is night and day. Sometimes I'll peruse lease trader websites and my jaw hits the floor seeing what people (uninformed suckers) pay to lease mediocre cars.

If you're a savvy shopper, you can find great lease deals that justify "renting" the car.

[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.

PP?

[Anonymous]

My dad leased while we were young.

1. Car seats were only required for a couple years back then, so you may need a van today, but can get rid of it in 3 years.
2. They weren’t sure when they were done with kids. There ended up being 4 of us, which greatly impacts vehicle choice when the family still moves primarily as a unit (before divide and conquer when kids are in different schools and activities).

I was the youngest and the first time I remember him buying a car was when I was 8 and the oldest was 20.

[Anonymous]

I get an employee lease (in law works at a car company) for $200/month, 15,000 miles/year. Tell me after the 8 or 9 years of owning a car how swapping a lease three times costs more? Personally, I think car longevity peaked a few years ago - Toyota from early 90s was much better built. Now cars are filled with cheap Chinese parts and much more expensive to fix.

[Anonymous]

I lease.. I don't mind not owning a car. It's less money per month that I put towards other things.

[Anonymous]

Anonymous wrote:I lease.. I don't mind not owning a car. It's less money per month that I put towards other things.

+1. We do the same. Our lease is $150 per month!

[Anonymous]

Anonymous wrote:I lease.. I don't mind not owning a car. It's less money per month that I put towards other things.

That's what the buy buy buy buy crowd doesn't get. A car isn't an asset. It depreciates in value. Let someone else be liable for it while you use up the best part of its life.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I lease.. I don't mind not owning a car. It's less money per month that I put towards other things.

That's what the buy buy buy buy crowd doesn't get. A car isn't an asset. It depreciates in value. Let someone else be liable for it while you use up the best part of its life.

I don't understand this. I have a paid-for 2008 minivan. It is an asset. I own it, its worth something, and I drive it around every day.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I lease.. I don't mind not owning a car. It's less money per month that I put towards other things.

That's what the buy buy buy buy crowd doesn't get. A car isn't an asset. It depreciates in value. Let someone else be liable for it while you use up the best part of its life.

I don't understand this. I have a paid-for 2008 minivan. It is an asset. I own it, its worth something, and I drive it around every day.

An asset stores or generates value. Your minivan is worth less and less every day and every mile you drive. A sunk cost. With leasing you could have kept that money free for proper assets.

It takes 9 years of leasing to have spent the same amount of money as you would have spent buying it outright.

[Anonymous]

rich ppl lease

middle class ppl buy

[Anonymous]

I did want to lease, but was not certithat I would only give the required amount of miles. I even looked at lease trader and was shocked at how many were desperate to get rid of cars they can no longer dive because of the fear of doing too many miles.
It scared me enough to seriously consider going car free.
Get by with bus and metro, do car rental if you need on weekends