Current Events > My next car I might lease

(+) Yeah! (+)

So far my new 5 year old Santa Fe Sport has under 50,000km. Only maintenance I did besides 2 oil changes per year is I got new brakes & rotors put in last year and got them cleaned this year. Main issue would be rust under the car and with the snow we get up here and the salt they use for the roads I'll see even with low kilometers how long this car lasts me. Next year I may also need new tires, but I'll see after winter how they are.

My boss leases a car for typically 3 years. I may lease for like 3-5 years and get a new one afterwards. Of course have to factor in constantly paying for the car, but if the math overall works out cheaper I may go with a lease since I won't have to deal with maintenance cost.

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Leasing is a scam

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Austin_Era_II posted...

Of course have to factor in constantly paying for the car, but if the math overall works out cheaper I may go with a lease since I won't have to deal with maintenance cost.

The math never works out in favor of leasing.

Just admit that you like shiny new cars.

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Drpooplol posted...

Leasing is a scam

It actually isn't. Depending on financing and what car buying a car can be financially crushing. By the time you've paid it off, someone has leased a new car a few times over, is still under warranty for potential major problems and generally doesnt have to worry about minor wear and tear depreciating the value of the vehicle.

My issue is mainly rusted parts at the bottom if things get too costly. Technically this SUV in another 10 years will probably have under 170,000km which is great. I don't mind in 10 years from now forking $10K slowly into the car for repairs to keep it going.

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Good for you. I don't lease but was close to doing it recently. It can work for some people if they don't mind having the payment and want something nice. Yeah, you'll pay more and don't own it but it's a depreciating asset anyway.

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This SUV was over $32K. I had a 7 year loan at 0% interest that I paid off in 5 years. First time owning a new vehicle. Also if I start a business on the side I can lease a car and it'd be a business expense so it'd lower my taxes.

If I sell the car today I'd get about $16K...maybe $20K at most if I sell it privately. I already knew driving it off the lot it goes down in value dramatically.

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My car is 12 years old, 60,000 km. Lost of salt here too and it's the rust that's getting it the last couple years, but it did take awhile to need a lot of costly repairs, just the last 2-3 years. I never did undercoating or anything and I should have. I think there is stuff like that you should be able to do to help protect against rust because of salt.

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Just buy the damn car, leasing is too much work

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Sir Will posted...

My car is 12 years old, 60,000 km. Lost of salt here too and it's the rust that's getting it the last couple years, but it did take awhile to need a lot of costly repairs, just the last 2-3 years. I never did undercoating or anything and I should have. I think there is stuff like that you should be able to do to help protect against rust because of salt.

Interesting. I just started doing the undercoating last year. The car came with that rust modular which I heard isn't as good as the undercoating itself. I'll keep doing the undercoating. Long as this SUV keeps running fine and I don't mind putting money into it as long as it's not over $10K in 1 single repair. I'd hope to get close to 300,000km before I get another one if that works out.

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