It's time for my low-simmer take on buying versus leasing.

"Dr. Zoidberg - RIP Oppo" (thetomselleck) 01/03/2018 at 18:53 • Filed to: Well. That de-escalated slowly.

8

31

Inspired by the FP morning shift article that turned the comments section into another “yah-huh” “nuh-uh” exchange. It has to be one of the bigger debates I ever see among car folk.

Here goes...

Leasing makes sense for some, but not others. It can be a good or bad financial decision based on the particular circumstances.

Buying new makes sense for some, but not others. It can be a good or bad financial decision based on the particular circumstances.

Buying used is still okay. It can be a good or bad financial decision based on the particular circumstances.

Sometimes car choices have little to do with money itself.

Also, you can attempt to stop your spouse, parents, children, and good friends from making an automotive decision that you have judged to be poor, but unless it is your money you’ll just have to live with it and respect it (within earshot).

I daresay sometimes things don’t operate on in “either-or” extremes of thought, in spite of what one’s Facebook feed may indicate.

E90M3 > Dr. Zoidberg - RIP Oppo 01/03/2018 at 18:55

5

Life is meant for living and money is meant for spending.

The criteria I use for whether someone should get something is “do you want it, and, if so, can you afford it?” If it’s yes to both those questions, go for it. Not everything has to be a wise finical decision.

benjrblant > Dr. Zoidberg - RIP Oppo 01/03/2018 at 18:56

3

NUH-UH

Dr. Zoidberg - RIP Oppo > E90M3 01/03/2018 at 18:59

3

As long as your allowing yourself to recognize that works for but not necessarily others.

Dr. Zoidberg - RIP Oppo > benjrblant 01/03/2018 at 19:00

0

When did we start getting ads on oppo...?

TorqueToYield > Dr. Zoidberg - RIP Oppo 01/03/2018 at 19:02

1

Are you going to drive a car for 100k miles plus? Or 20k miles per year or more? And care about saving every dollar possible. Buy it.

Do you want a new car every 2 years? Lease it.

E90M3 > Dr. Zoidberg - RIP Oppo 01/03/2018 at 19:04

0

It could be reworded.

gin-san - shitpost specialist > Dr. Zoidberg - RIP Oppo 01/03/2018 at 19:05

1

Honestly, if there was a perfect solution, all dealerships would be offering only one option. People aren’t perfect, situations aren’t perfect, so we need multiple solutions. Pretty simple stuff.

I haven’t visited the frontpage in a while, apart from some linked comments/posts to Oppo. What you’ve said reminds me of why I stopped reading Jalopnik in the first place. The side-blogs are nice, though, like the Black Flag and Rally Takeover and stuff like that (and oppo obviously).

benjrblant > Dr. Zoidberg - RIP Oppo 01/03/2018 at 19:06

9

No idea. I don’t visit anything kinja/gawker/gizmodo/wtf-ever without the adblocker on.

But $2.95 off that fitbit is such a steal! That’s like 1.9% off. Whoo-ee. Are you going to finance it or lease it?

BaconSandwich is tasty. > E90M3 01/03/2018 at 19:09

3

I think it’s the second part of that that gets people into trouble - the “can you afford it” part.

E90M3 > BaconSandwich is tasty. 01/03/2018 at 19:13

1

If you’re honest with yourself, then not really. Problem is emotion takes over and you lie to yourself.

For example, I tried to buy an E90 M3 with 5k down and a loan of ~990/month for 60 months. Could I afford it, yeah but it wasn’t a good idea. I didn’t approved for that loan. I did much better my second time around.

BaconSandwich is tasty. > E90M3 01/03/2018 at 19:25

0

Good for you on being reasonable!

It’s not like self-control is really taught well in our society these days.

FTTOHG Has Moved to https://opposite-lock.com > E90M3 01/03/2018 at 19:28

2

sony1492 > Dr. Zoidberg - RIP Oppo 01/03/2018 at 19:29

0

The same I’m right your wrong back n forth argument was in the liberty walk Lc500 article and any article regarding hooning.

Spaceball-Two > Dr. Zoidberg - RIP Oppo 01/03/2018 at 19:34

2

Yes, but what about club sandwiches with frilly toothpicks?

E90M3 > BaconSandwich is tasty. 01/03/2018 at 19:40

1

I feel like finical self-control was discouraged before the finical crisis.

I knew I was being stupid trying to buy that M3, I felt like an idiot when I called my parents. Both were happy for me, neither said I was making a bad decision. The second time around I put 40% + taxes down and had a much more reasonable car payment. I paid it off in a year, which I probably would have done if I had gotten the first M3 I tired to buy. Regardless I learned a lot, and in the end I saved money and ended up with an M3. I’ll chalk that up as a win.

CarsofFortLangley - Oppo Forever > Dr. Zoidberg - RIP Oppo 01/03/2018 at 19:41

2

I’m going to finance it

itschrome > Dr. Zoidberg - RIP Oppo 01/03/2018 at 19:44

0

ID BE PAYING LESS IF WE BOUGHT THE DAMNED CAR. Uuggghhh.

Aaron M - MasoFiST > Dr. Zoidberg - RIP Oppo 01/03/2018 at 20:01

3

If you are buying cars in a format which works with leasing, i.e. you want a new car every 2-4 years, then leasing as a finance vehicle works in many circumstances. If you cannot afford to buy a new car every 2-4 years, then leasing does not make this better, no matter how much lower the monthly payment is.

shop-teacher > Dr. Zoidberg - RIP Oppo 01/03/2018 at 20:42

1

Whaaaaaaat??? You mean to tell me different people in different circumstances should do different things?????

Seriously, why do people have such a hard time with that?

Dr. Zoidberg - RIP Oppo > Spaceball-Two 01/03/2018 at 23:34

2

Acceptable.

Dr. Zoidberg - RIP Oppo > itschrome 01/03/2018 at 23:34

0

Context?

itschrome > Dr. Zoidberg - RIP Oppo 01/03/2018 at 23:46

0

My fiancee just leased a 2017 Malibu. It was a totally fucked deal. We are leasing it on pure value of the car. If we bought the car we would have paid about 21k, sticker is 29k. By the end of the lease, 3 years, well have paid about 17k....... not my call still not happy..

Car is pretty nice tho, I won’t lie.

shop-teacher > Spaceball-Two 01/03/2018 at 23:48

1

I’m for ‘em!

Dr. Zoidberg - RIP Oppo > itschrome 01/03/2018 at 23:50

0

As a wise man once said, you love who you love.

gmporschenut also a fan of hondas > Aaron M - MasoFiST 01/04/2018 at 00:34

1

A co worker was going on about their new lease. the whole time I’m thinking either you got hosed on the last lease or the greatest year end clearance.

SmugAardvark > Dr. Zoidberg - RIP Oppo 01/04/2018 at 06:48

1

You nailed it here. There is no single answer as to what’s the best way to acquire a new car (except maybe for winning it on The Price is Right ).

merged-5876237249235911857-hrw8uc > BaconSandwich is tasty. 01/04/2018 at 08:08

1

This, so much this. I dare say, if you have to finance a car for more than 3 years to “afford” the payments, then you really can’t afford it. And my rationale for that is if you stay within the 3 year window you may be upside down on the car for a short period, but by the end of the first year, you should be ahead on the depreciation so if you had to sell it, or it gets totaled out, you’re not trying to make up the shortfall on your next purchase. But like the poster said, it doesn’t work for everyone. But that’s been my criteria for a vehicle purchase for many years now, and it’s served me well.

gmporschenut also a fan of hondas > Dr. Zoidberg - RIP Oppo 01/04/2018 at 09:08

0

both can be beneficial. my gripe ussually comes when someone starts proclaiming how much money they;ve “saved”. And I’m usssing using ‘saved’ in the sense of either leasing more car than they can afford, or pushing out the payments to some crazy long term.

same goes for running a car into the ground or upgrading to a new or new to you car. Running into the ground is fine if you have alternative vehicles, modes of transportation or a job/lifestyle that doesn’t require 100% reliability.  

Manwich - now Keto-Friendly > Dr. Zoidberg - RIP Oppo 01/04/2018 at 10:23

0

“Also, you can attempt to stop your spouse, parents, children, and good friends from making an automotive decision that you have judged to be poor, but unless it is your money you’ll just have to live with it and respect it”

If it’s the children and they want you to co-sign, you most definitely have a say.

It the case of a a spouse, when you’re married, you’re financially joined to that person. If I’m married to someone, I most definitely have a say with what is done financially because I could be on the hook for it if things go south.

It’s one of the biggest reasons why I will never get married again.

Manwich - now Keto-Friendly > itschrome 01/04/2018 at 10:28

0

Now consider this... when you get married, you will basically be financially joined to her. You get to share all assets AND liabilities. Given that bad deal predates the marriage, you may want to get a prenup and in that prenup, explicitly specify that the Malibu and the financial obligations tied to it are hers and hers only.

https://www.dailyworth.com/posts/im-getting-married-how-do-i-protect-myself-financially

Of course after you’re married and she does another bad leasing deal, that obligation is as much yours as it is hers.

Think about that.

VajazzleMcDildertits - read carefully, respond politely > Dr. Zoidberg - RIP Oppo 02/09/2019 at 14:36

1

Missed this the last time, but now all I can think about is some low simmer chili