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Old 07-03-2012, 08:32 PM   #1
beefalo
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Leasing advice

I'm going to be leasing an fr-s and I would like some advice. I will be leasing a car for the next four to six years (employee lease from my dad and it gives me free insurance till I finish college) and I can't decide what to do. This is a car I would like to own so I'm considering leasing for 4 years with the intention to buy it after the lease. This way I would be able to modify the car and still get the lease benefits. I could also lease for just 2 or 3 years and get another car at the end of the lease. Basically my dilemma is: would it be better to get one now and mod it or wait for changes and more options?
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Old 07-05-2012, 01:11 AM   #2
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Let me know if you get a good lease deal. I've had no luck trying to get reasonable rates.
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Old 07-05-2012, 01:46 AM   #3
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Leasing is generally used for short term. Unless your getting a super steep discount i would just straight up buy it.
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Old 07-05-2012, 01:59 AM   #4
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I know it can make sense for certain people in certain situations but I've personally never liked the idea of paying into something without gaining equity.

I hate the fact that I am renting right now... I know a car lease isn't the same but it still tickles me the same way


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Old 07-05-2012, 12:09 PM   #5
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There are generally few situations in which Leasing would be a good idea:
1) You can do it for business reasons as a tax write-off.
2) You enjoy having a new car every couple of years more than the same car for many years.
3) You're trading in a car that has negative equity on it (you owe more than the car is worth for one reason or another.) If you were to take out another loan, the negative equity gets rolled into the new loan and you still have to pay it off. However, if you roll it into a lease that negative equity goes away at the end of the lease since you're no longer paying off a loan. But, this comes at a cost of higher lease payments than if you were to lease a car without the negative equity trade-in.

Leasing with the intention to buy at the end almost always ends up costing more in the long run (and your payments get dragged out a lot longer) than if you were to just buy the car in the first place.
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Old 07-05-2012, 12:16 PM   #6
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I would not lease a car longer than 2-3 years. The whole point of a lease is top put little money down and get another car every 2-3 years. If your intent is to modify the car, leasing does not make sense and if you think you want to buy it at the end of the lease, leasing does not make sense to me either. Long term leases (4-6 years) are not good ideas either as you would most likely come out ahead buying and then selling the car in 4-6 years time.
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