not necessarily. I know the 50000 vehicle would be much nicer than the 35000 vehicle, but if it's a simple transport DD, it wouldn't matter so much.

 

If that's the case, get a $20K Accord for DD. He'll end up saving $25K in the long term.
Heck, get a 10 year old Civic. He'll save $30K.

I'm not saying that he should get a lesser car. But what you point out is obvious: getting a lesser car will save money.

 

That's true doctor, but I'm sure Dustin appreciates the example. I was trying to explain it to him and compare leasing with car purchasing and how leasing was different.

 

Thank you guys for the thorough explanation. I did appreciate it as I know nothing.

I think that from this knowledge I now have, IF I do decide to lease something, I should NOT lease something of 50k value.

I should lease a little AWD econo car or something cheaper that way Im able to handle it and wont lose TOO much money on it.

Thanks again guys,
Ill let you know what happens!

-Dustin

 

We upside down traded twice on this car and are riding out the lease until we can sell the car for more than the residual. We also don't put any money down and get a 15000 mile per year allotment, but we were trading cars almost every 2.5 to 3 years.

 

Sell the jeep, use the money to buy a nice RELIABLE used car. No need to get a new lease to be a baller.

Want a reliable 4X4? Find an old Suzuki Sidekick sport four door for about $5000. Its good on gas, has a few toys inside and wont break. When college is over, then ditch it. Its a dog as far as power goes, but for around town, its fine, especially with a stick.

Coming out of college with consumer debt was the biggest pain in my butt after college. Once you are on your own and the parents are not sending checks because you have a real job is not when you want big payments because you have lots of needs when school is over. Housing, furniture, work clothing, etc.

At the end of a lease you got nothing, at the end of driving a fair condition Sidekick (or the like) you have the value of the fair condition Sidekick. And your payments were lower the whole time.

 

leasing in general sux unless you are certain you are sticking with that car for the term of the lease.

I don't like to keep cars more than about 12-15 months for whatever reason.....about the shortest lease is 3 years.....(any shorter and you are paying crazy payments due to the depreciation).

to get out of a lease is like pulling teeth..... plus with some (honda for example) the original leasee is still on the hook even if someone else has taken over the lease.

if I bail on my NSX they come after me first, then the guy I took over for......I was sort of hoping to get out of it now, but they told me I would be on the hook too....

 

We went to a non Honda dealer and they wouldn't touch our car, their advertising even said they'd pay off your current lease...no deal. They told us to go back to Acura or Honda to get out of the lease on our own. We were looking into Mazda or Volvo because my wife can get Ford Program pricing because of who she works for, one of the local Universities.

 

How about I take it over for $350 a month? I'd give up the S2000 and just force myself to put up with the NSX, but seeing as how we're friends, I figure I can help you out this once.

How about it?