"Ive you have an aggressive lack of financial responsibility, leasing makes a lot of sense" seriously, paying a fortune to drive a car youll never own is absolutely braindead.
Depends, not all leases are equal. I currently own all the cars I have, but the last two cars I leased, I was able to sell to Carmax and got $3k from one because the resale was more than the buyout, and the last one I got $5k, which covered all the payments I made, so it was like having a free car for a year. The point is that you’re paying the depreciation, so if you bought a car and decided to sell or trade it in within a few years, you would lose the same amount of money as the lease, if not more. Owning really only makes sense if you want to keep it for the long term, and/or need to drive excessive miles.
It all comes down to total cost of ownership/lease, and the opportunity cost of not having the money up front. Sometimes it's stupid, but it often makes sense. Eg historically if you want a Maserati the lease deals are okay and the residual values have been atrocious, so it cost way more to buy new and sell after 3 years than to just lease for 3 years
Noticed they left out the 10k miles a year you are allowed to drive. A coworker leased a car. He's about 18k miles over. Multiplied by 25 cents a mile. Not looking too cheap now.
@@Yvaneify You still pay taxes on the msrp for registration. At a certain age it goes to a flat rate. Unless you are saying no sales tax. Otherwise, I don't get your point.
Leasing ANYTHING thinking you’re saving money is a bad idea. It’s like renting a nicer apartment for slightly less than the mortgage on a modest home you could own… you’re losing money every month. If you can’t afford the regular payment you can’t afford the lease. The only people who should lease are wealthy people who want to trade every 3 years. If your leasing a car because you can’t afford the payments you’re digging an ever deeper hole.
Exactly lol this maybe is a field to play with when you are very financially stable, but not just a new business idea or a side hustle you’ll just be stressing out. Plus at this guys level I mean a bargain vehicle could be getting a Porsche 911 Turbo S for $20k off… still a $140k+ vehicle, but it’s a bargain for him and easy to lease to perhaps a certain business etc. even then it’s never guaranteed so you imo have to both already like the car and be able to afford it in cash first just in case all else fails. Second this sounds like a fun idea, but as a business owner myself and the easily 20+ (people I grew up with where I live) others I know even around my age who range from 6 to multi 7 figures (gf’s next door neighbor as one quick example is a friend of mine who went to my school and was on my bus family owns 17 hotels and lives about 1 minute from me beautiful 8-9k sq ft brick mansion). Why would they even lease these cars? Lol Ik people such as myself in the automotive industry too. We have a loaner car and plan on getting more, but not to lease😂😂😂what am I stupid? I’ll just buy one and actually own it plus it’s a LOANER not a 2023 whip lol. Even with every business owner Ik there’s not one that could ACTUALLY benefit off leasing these. No one would even rent either they’ll just buy it or wait. If you have something beautiful MAYBE you could lease it to a car rental lol, but even then if it does good business they’ll just buy one themselves if not thank goodness it was just a lease😂😂business people aren’t stupid lol. The target market is niche for this business that’s another reason why you have to 100% be prepared to fail. Meanwhile TONS of people in this comment section think this is some sort of life hack😂😂just wait till they see their hack isn’t hacking in any money💀
In the UK there is a Salary Sacrifice scheme. Basically you pay lease payments directly from your salary BEFORE income tax is taken. So you save 40% on the lease payments. You do then have to pay BIK tax but that's peanuts compared to what you save. So a great way to buy a new car is to take a salary sacrifice lease deal, pay it off over as long a period as possible to pay off as much of the car value as possible with the 40% saved. Then buy out the lease at the end. I got a £60k BMW i4, which in total will cost me about £48k to buy outright. A traditional PCP finance on the same car would cost close to £70k.
@@vHeartAndS0ul lots do... then you proceed to list super cars, low mileage vintage porches, and shitbox hellcats? 😂 Probably one of the dumbest comments I've ever seen.
The only way leasing a car is worth it is if you plan on buying the car after. I leased my car and after the 3 year lease I was able to put everything I had paid toward the principle of the original price and then put the car on a 5 year loan. Paid a extra 150-200 a month over payment and paid it off in a little over 3 years. Had lower monthly payment and I still have it
Lol if you’re buying new cars then the maintenance is someone else’s problem regardless. You can get the same experience just buy paying down a brand new car until the principal is at or just below the value, trade in, rinse and repeat. You have warranty the whole time and you basically are just rolling it forward.
My dad has never had a new car, only buys off of Craigslist and marketplace. Has only had two trucks for my entire life and has probably spent less than 20k on both. Old enough to not have lane assist etc but also new enough to have creature comforts. I’ll probably never buy a new car.
The only time a lease makes sense is if the car's depreciation exceeds the cost of the lease term. Any car that loses more value than its lease payments is not a reasonable vehicle.
@@subeyguy66 I just couldn’t do that, I’d need a little more ownership than that. Doubt I’ll ever lease anything as I’m not a huge German car guy. Although if I happened to find a really good deal on a lease for a M2, 4, or 8 or an RS3 or 7 I think I’d go for it.
Cheapest car to look cool for nothing: Bentley... they all depreciate like 80% or more as soon as the new ones come out. So a early 2000s Bentley can easily be picked up for like 30k or less. Pro tip.
Best time to lease is when the economy tanks. Lock in your buyout, leverage lease terms on a dealer looking to move stock, and then all the disadvantages of a lease melt away at term end. Go in early at lease end, give yourself a few months of room. Don’t let them bully you at the end, especially in a bull market when they know they’re way underwater. If they do, walk. The lease is with the holding company not the dealer. Just go to a different dealer. Enjoy your car you got way below market, or sell and go in again.
Just because you see them on tiktok all the time, doesn't mean it's ''the best BMW of all time'' 😂 But I do like the look of them, so instead of clowning on you, I will just encourage to look up all the other cars BMW made. Look up the M1, 3.5 CSL, 635 CSI or E30 M3 if you want actual contenders for that title.
The first 2-3 years of depreciation is priced into the lease plus the interest rate plus basic maintenance. And if you go over the miles it's another big charge.
@@briansguy I am well aware of that but people leasing arnt exactly looking to put 200,000 miles on a Corolla more like look good in a brand new bmw or Mercedes every 3 years
Leasing is terrible these days. They want a giant down payment then you get a litte less payment per month but you walk away after the lease with nothing. I did it once and wouldn’t do it again. You have no ownership. And if you don’t like it your stuck with it.
Ahhh yes the age ol American pass time… digging yourself into debt while owning nothing. Please stop trying to give people advice on major purchases like cars or homes.
Not even, they're the apple of cars. Just sold my 2011 n55 1 series. There is more plastic in the engine bay than the whole Kardashian family combined. They're just shit cars from the get go.
