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SVTPerformance's Chain of Restaurants
Road Side Pub
leasing a car
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<blockquote data-quote="tt335ci03cobra" data-source="post: 16375967" data-attributes="member: 68944"><p>Car dealers and short term thinking will tend to steer one to lease, practical safe thinking says buy 3-5 years used and sell before the 10 year old mark.</p><p></p><p>Today’s vehicles have a very low ownership expense to resale prospect of from years 5-9 in most cases imo.</p><p></p><p>Doing all the math, it’s pretty easy to end up at about $50-100/mo sales tax and all, over that time window depending on how much vehicle you need. Suburban is huge and ends up being expensive, but obviously leasing or buying a 2019+ is 5 times as expensive.</p><p></p><p></p><p>Anyways, example:</p><p>$15k today for 75,000 mile 2015 suburban. Sell it in 5 years for $10k at 110,000 miles. </p><p></p><p>$15k@ 8% tax is $1200</p><p></p><p>$6200 spent basically is $105 a month.</p><p></p><p>Do this on a $9k 2015 75,000 mile corolla today with $720 in taxes. Sell it for $6500 in 5 years at 110,000 miles, you literally spent $3220 over 5 years which is $a year, so $54 a month.</p><p></p><p>Lease is great if you are </p><p>•not mechanically or financially savvy, and want a hassle free experience. Great for a fresh driver that needs a safe, reliable commuter, if done on a $12-15k car and replete with perks like free washes, maintenance etc. </p><p>•fine just saying you are ok spending $200/month on a vehicle indefinitely plus inflation. Make $5k a month, want newish, often, drive under 10k a year, have at it.</p><p></p><p>I’ll never lease a car again, and I won’t finance one either. I’ll buy a $500 shitbox making $500 a week cleaning windows or some entry level self employees venture vs finance a car or get a lease personally if I lost every penny tomorrow and had to start from scratch. I’d rock a bicycle for $50 off the first job until I had enough to buy the beater. </p><p></p><p>Once you see how much the lending and leasing system really takes from you, you realize it’s $200 a month to rent a car, or $500 a month to borrow a car.</p><p></p><p>Until the title is in your name, it is just ego pleasing.</p></blockquote><p></p>
[QUOTE="tt335ci03cobra, post: 16375967, member: 68944"] Car dealers and short term thinking will tend to steer one to lease, practical safe thinking says buy 3-5 years used and sell before the 10 year old mark. Today’s vehicles have a very low ownership expense to resale prospect of from years 5-9 in most cases imo. Doing all the math, it’s pretty easy to end up at about $50-100/mo sales tax and all, over that time window depending on how much vehicle you need. Suburban is huge and ends up being expensive, but obviously leasing or buying a 2019+ is 5 times as expensive. Anyways, example: $15k today for 75,000 mile 2015 suburban. Sell it in 5 years for $10k at 110,000 miles. $15k@ 8% tax is $1200 $6200 spent basically is $105 a month. Do this on a $9k 2015 75,000 mile corolla today with $720 in taxes. Sell it for $6500 in 5 years at 110,000 miles, you literally spent $3220 over 5 years which is $a year, so $54 a month. Lease is great if you are •not mechanically or financially savvy, and want a hassle free experience. Great for a fresh driver that needs a safe, reliable commuter, if done on a $12-15k car and replete with perks like free washes, maintenance etc. •fine just saying you are ok spending $200/month on a vehicle indefinitely plus inflation. Make $5k a month, want newish, often, drive under 10k a year, have at it. I’ll never lease a car again, and I won’t finance one either. I’ll buy a $500 shitbox making $500 a week cleaning windows or some entry level self employees venture vs finance a car or get a lease personally if I lost every penny tomorrow and had to start from scratch. I’d rock a bicycle for $50 off the first job until I had enough to buy the beater. Once you see how much the lending and leasing system really takes from you, you realize it’s $200 a month to rent a car, or $500 a month to borrow a car. Until the title is in your name, it is just ego pleasing. [/QUOTE]
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SVTPerformance's Chain of Restaurants
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