If you do not know car you want would you lease?

[Anonymous]

I keep going back and forth with a practical family car, a luxury family car or truck that is not really ideal for family or parking.

My kids are young (2 under 10) and since I cannot decide on what I want I was thinking of leasing....I normally drive cars until their wheels fall off (current one is 16 years old) and I cannot see myself keeping any car that long - I am just not excited by anything (affordable for me).

I know leases are just rentals, but it seems to make sense to me until I figure out what I want. Terrible idea?

[Anonymous]

It's not the case that it's always better to buy than lease. It's more complicated than that.

I drive about 10,000 miles/year and value having the latest safety features in my car because I have a young kid. Hence I plan to lease my next car. We have excellent credit and so the rates will be very low.

If you plan to keep your car a long time then of course it makes sense to buy it.

[Anonymous]

Buy a car that holds value if you think you can take care of it. Tiny kids make it tough for many. Elementary schoolers less so.

[Anonymous]

Not a terrible idea, but you could also buy used

[Anonymous]

You can get a brand new Hyundai Elantra for under $19k. Best bang for your buck. Yes I know Toyotas and Hondas have better resale but you are paying for that resale upfront

[Anonymous]

At then end of the lease the dealership has the car and they have your money. Epic fail.

[Anonymous]

Anonymous wrote:At then end of the lease the dealership has the car and they have your money. Epic fail.

Not really. Depends on how much you drive and whether you place value in having a new car. Also, you can always buy your car at the end of the lease.

Not everything is black and white.

[Anonymous]

Unless you are leaving the country in a few years leasing is a bad deal.

[Anonymous]

I am going to lease an Audi for 3 years; mainly because I like the car but after 3 years they have a bad maintenance record so I would rather dump it and get something new again or another newer generation of the car if I like it.

[Anonymous]

Anonymous wrote:At then end of the lease the dealership has the car and they have your money. Epic fail.

I guess you feel the same for all who rent? Epic fail is you. If you don't understand leasing, just don't try to give advice.

[Anonymous]

Anonymous wrote:Buy a car that holds value if you think you can take care of it. Tiny kids make it tough for many. Elementary schoolers less so.

Agree. For practicality, maybe a Jeep Grand Cherokee? They seem to hold value. There are also good lease deals around. With small kids I’d forgo the luxury car for a while. As the kids get older you may find that you’re driving them and friends around and will need a car that can accommodate muddy sports shoes, food spills, sweaty tweens etc. The last thing you will want to do is worry about keeping your luxury car clean.

[Anonymous]

Anonymous wrote:

Anonymous wrote:At then end of the lease the dealership has the car and they have your money. Epic fail.

I guess you feel the same for all who rent? Epic fail is you. If you don't understand leasing, just don't try to give advice.

Lol. Renting is the same as leasing?

[Anonymous]

Anonymous wrote:

Anonymous wrote:At then end of the lease the dealership has the car and they have your money. Epic fail.

I guess you feel the same for all who rent? Epic fail is you. If you don't understand leasing, just don't try to give advice.

Leasing is ALWAYS a poor financial decision. If you have money to blow, go ahead. Financially it is a poor decision

[Anonymous]

I actually had a Scamp 19. I used it just last week with my family. I rented a car and hooked it up to my Scamp 19 and we're off into the wilderness. In case you wanted to know luxury car rental Baltimore MD is where I rented my car from. Some financial choices, however, aren’t so clear cut. After all, we can’t make spending decisions based on preference alone. If we did, we might all be living in luxury for a brief period before landing in bankruptcy. Renting a car is never a bad idea.

[Anonymous]

Most people that lease do so to get a car more expensive than they can afford to buy. Many people that lease cars get very bad deals.

Leasetrader is a site where people trying to dump their leases on someone else go. I looked up Montgomery County MD and the first least on the list was this one:
https://www.leasetrader.com/2018_Chevrolet_Equinox_LT_311662.xhtml

Contractual Lease Payment: $297.90 p/month
Advertised Payment: $199.95 p/month
So think about this, the person that leased this Equinox is willing to pay $1,763 to reduce the lease from about 300 a month to 200 a month in order to make this attract enough to ditch it.

Look at this one, that lease payment is pretty close to what you'd expect a car payment to be!
https://www.leasetrader.com/2018_Audi_S4_Prestige_316073.xhtml