Leasing vs. Buying

A car, not a house.

I have to get a new car and am leaning more and more towards leasing.

Have any of you ever done it? What are the possible cons the internet isn't telling me.

Higher end cars also depreciate, depending on the brand, some slower, some faster. There is just no way a car retains it's value after you've had it for a year. A car is only an investment in your good time while you're driving.

(this excludes old timers, limited edition series of legendary models etc etc)

From what I gather, a lease only pays for a percentage of the car's value - the depreciation that occurs - so lease payments are substantially lower.

When you buy, the depreciation still occurs, but you're responsible for the entire value of the car.

Posted by Squishy_Marshmallow

Posted by Andalusia
From what I gather, a lease only pays for a percentage of the car's value - the depreciation that occurs - so lease payments are substantially lower.

When you buy, the depreciation still occurs, but you're responsible for the entire value of the car.

Are they going to keep track of the miles?

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Yeah, a lot of lease options have mileage restrictions. But I don't put a whole lot of miles on my car, so the restrictions likely wouldn't come into effect with me.

Posted by Squishy_Marshmallow

Posted by Mr_Pinchy
Higher end cars also depreciate, depending on the brand, some slower, some faster. There is just no way a car retains it's value after you've had it for a year. A car is only an investment in your good time while you're driving.

(this excludes old timers, limited edition series of legendary models etc etc)

Cars can be short term investments if you know to buy them cheap and sell them for a better rate 😄

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That means you're a car salesman. All sleazebags from what i've seen. Technically you can, but i wasn't talking about doing it professionally.