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

[Anonymous]

Anonymous wrote:How much did you put down to get the lower payments? The payments can be manipulated to anything. Do you know what interest rate is implied in the lease? I would assume a loaded Tahoe is probably about $55k, so if you put nothing down, $600 a month is good and you can get rid of that pos after three years.

Multiplying the money factor on the lease by 2400 gets you the interest rate. Always bring a calculator , or better yet a computer, to a lease negotiation. They are brutal.

[Anonymous]

Anonymous wrote:How much did you put down to get the lower payments? The payments can be manipulated to anything. Do you know what interest rate is implied in the lease? I would assume a loaded Tahoe is probably about $55k, so if you put nothing down, $600 a month is good and you can get rid of that pos after three years.

$0. Only an idiot puts money down on a lease.

[Anonymous]

If you do lease a car, you need to negotiate the price of the car first and THEN negotiate the lease terms.

[Anonymous]

Anonymous wrote:

Anonymous wrote:you never have to pay for maintenance?

No, never. Everything including oil changes is included.

That's probably because it's still THEIR car and it's in THEIR INTEREST to ensure it is maintained.

[Anonymous]

Not judging you at all OP, because I've driven a car I bought slightly used for 16 years and I have leased a car in the past and considering it again. I do what I want at the time I'm ready to get a new vehicle.

However, why are you leasing your daughter's vehicle? We also have a kid in college and we bought her a brand new car, paid cash for most of it and financed a tiny amount so we could help her build her credit score with the monthly payments. It is a reliable car and the plan is it that it will last her through college, grad school and the first years of working adulthood. Are you going to just keep leasing cars for your kid until she can afford her own?

[Anonymous]

My husband and I like to pay cash for our vehicles. We have a reliable mechanic if we ever need anything repaired, but honestly, all I ever do is have the oil changed regularly and replace the tires when needed. For my motorcycle, I do any repairs needed. I enjoy it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How much did you put down to get the lower payments? The payments can be manipulated to anything. Do you know what interest rate is implied in the lease? I would assume a loaded Tahoe is probably about $55k, so if you put nothing down, $600 a month is good and you can get rid of that pos after three years.

$0. Only an idiot puts money down on a lease.

You do realize it's financed in

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much did you put down to get the lower payments? The payments can be manipulated to anything. Do you know what interest rate is implied in the lease? I would assume a loaded Tahoe is probably about $55k, so if you put nothing down, $600 a month is good and you can get rid of that pos after three years.

$0. Only an idiot puts money down on a lease.

You do realize it's financed in

Clearly s/he doesn't. I've given up trying to explain leasing to people on this board. It's futile. They will only head what echoes their own beliefs that it's such a good deal! And us cash payers are dumb.

[Anonymous]

Leasing is dumb.

[Anonymous]

You are burning cash. Buy a car and drive it into the ground. You are paying dearly for the latest and greatest technology.

[Anonymous]

We also lease. It works for us. We like having the newest technology and safety features. I've bought brand new in the past with the intention of keeping it long term and circumstances changed and I only wound up keeping it 4 years anyway so no more outright buying brand new for us. I've had my fair share of old cars that break down often that I'm pretty weary of buying used. We'll keep on leasing!

[Anonymous]

Anonymous wrote:We also lease. It works for us. We like having the newest technology and safety features. I've bought brand new in the past with the intention of keeping it long term and circumstances changed and I only wound up keeping it 4 years anyway so no more outright buying brand new for us. I've had my fair share of old cars that break down often that I'm pretty weary of buying used. We'll keep on leasing!

And there is absolutely nothing wrong with this. Just please don't join the chorus of people trying to explain that it's better financially - it's a lifestyle choice and preference.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We also lease. It works for us. We like having the newest technology and safety features. I've bought brand new in the past with the intention of keeping it long term and circumstances changed and I only wound up keeping it 4 years anyway so no more outright buying brand new for us. I've had my fair share of old cars that break down often that I'm pretty weary of buying used. We'll keep on leasing!

And there is absolutely nothing wrong with this. Just please don't join the chorus of people trying to explain that it's better financially - it's a lifestyle choice and preference.

+ 1 million

[Anonymous]

I get a new lease every 3 years. A 43000 dollar car costs me 600 a month for 20 k miles a year. I usually turn it in with 10k over the limit (70k miles total) . All I do is change the oil and I turn it in with balding tires plus I drive the car hard.

So I spend 22 k to suck the life out of a 43 K car and never have a repair. I also get to write off the portion I use for business .

I love when I turn in the worn car for a new one.

[Anonymous]

Anonymous wrote:I get a new lease every 3 years. A 43000 dollar car costs me 600 a month for 20 k miles a year. I usually turn it in with 10k over the limit (70k miles total) . All I do is change the oil and I turn it in with balding tires plus I drive the car hard.

So I spend 22 k to suck the life out of a 43 K car and never have a repair. I also get to write off the portion I use for business .

I love when I turn in the worn car for a new one.

Sucker. Car can't be all that great if it needs to be dumped after 3 years...