I know what you mean, good points about the lease advantages "IF" one owns a business.Lease - Good if you own business so you can right off interest. Also a way to drive more expensive cars for less monthly payments.
Purchase - Better bang for your buck but lacks the advantages of lease for above situations.
I always prefer purchasing over leasing since I like to own my $hiT!
MOST high end premium cars are leased, probably 75% or so.........:yes:"Buying vs. Leasing" all depends on the individuals needs/requirements/preferences/objectives/etc'. There's always a rhyme to the reason, or madness!
I haven't had the need yet in life to lease. If the situation presented itself in the future, of-course I'd consider it!
Here's an interesting example...
My friend is considering a brand-new Aston Martin V8 Vantage Roadster lease for $1700/month w/ $3.5k down (36month total: ~$61k). So, after 3yrs lease, he'd be $61k less in the pocketbook, but no more responsibility/liability.
If he bought it, it'd be ~$135K + gas-guzzler tax (~$3k) + state sales tax (~$11k), totaling $149k out-of-his-pocket + 7.5% financing (~$11k), meaning he'd owe $160k. The 3yr residual value is $82.5k (even that is optimistic, sighhh). So $160k - $82.5 = $77.5k in money for him to own for 3yrs.
So, in this case, leasing saves $16.5k over the span of 3yrs vs. outright ownership.
(I believe leasing also includes scheduled maint'/service, not entirely sure).
If he plans to keep it for more than 3yrs, then the depreciation starts to taper off & the ownership numbers improve.
Make'th sense?
Even if it wasn't such a good deal, you bought it through your business, and the writeoffs are good for business use vehicles........:thmsup:I just leased my first vehicle about 2 months ago, and am content with my decision. It was leased through our LLC. It was a terrific deal.
It was leased right before the current meltdown, and Nissan had just introduced it's first (and maybe only for a while) subvented lease on the 2009 Murano.
We have never leased a car before, and only financed one in all the years we've been married (18+ years)... and even then we only did it because Nissan offered basically free money (0.9%) for 36 months (on top of a $1500 rebate for the first and only time on the Pathy). This allowed us to leave the money in savings, have NMAC payed each month through auto bill-pay, but still have the cash there in case of an emergency. We actually paid it off early before we moved to our new house in 2006... just wanted to start off fresh again. We have never considered leasing before simply because we have always assumed we would keep the car longer than a lease term... even though that didn't always happen.
I plan on keeping the Murano through it's 39 month lease (obviously)... no longer. It will always be under warranty and all sched. maint. is included in my deal. I am too old and busy to have any interest in making the Murano "my own"... aka mods of any kind. My Murano has every feature available. I just drive it, fill it with gas, and enjoy the ride. I still will keep it as spotless as the cars we own just because we are very clean and organized people. It will be a great car for someone when I turn it in, for sure.
That's it for me!
And then there's people like me who wait till those very vehicles (premium/luxury-cars & high-end sports-cars) bottom-out in terms of initial depreciation & let the original owners take the hit on the uber-pricey high-end spec'd model w/ the additional tasty options/accessories...bluestars80 said:
Maybe, do you know the residual pecentage number? I remember my last least, a 2003 Buick Rendevous. I got a 1% money factor, a 50% residual, got security deposit and down payment waived, and applied a $3000 GM card rebate to the cap cost of invoice less dealer cash of $1500. My payment was $249 + tax for a loaded AWD Rendevous, 15,000 miles a year. Friends of mine thought I was lying.........:lmao:
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The ads you see on TV are for most but not all cars are "loss leaders". You get the base model of something for a low lease payment. Of course, most folks want more goodies, so the price escalates quickly. Typically dealers will "ballpark" you at $15 per $500 of higher MSRP, or $30 per $1000 of higher MSRP car. That ia a good-sized bump.
aranoid:
You can negotiate any lease, the ones that are manufacturer's specials have no gross left in them for the dealers, so you won't have much luck. If you find the car you really want, the dealer will try to make up the "loss leader" gross by sticking you with a MUCH higher lease payment.
