The Diecast Zone · Model Car Club Since 1997
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04/07/2013 11:12 am
Its the middle class not the rich the ones leasing new cars every 3 years
Many friends of mine with salaries ranging from $50K to $60K per year are leasing and new Mercedes or BMW every 3 years. Why? if they were to buy it they will end with a $1,000-$1,200 a month loan with a $10 or 15 thousand $$$ down, if they were to lease the very same car they will pay $600 every month with a $600 up front. Sure, end of the 3 years and the car is not theirs, but who cares when the cars will also depreciate and they didnt have to pay so much and they will have a hot new car when the lease ends. Sometimes the lease ends before the tires wear out. So there you go! Sometimes you even get to save on tires! lol.
04/07/2013 2:49 pm
Phil, you just described. me. 🙂
04/07/2013 2:52 pm
Plus the tax write off too.
04/07/2013 5:52 pm
Tax write-off? Maybe for business purposes, certainly not for an indervidual.
John Bono
North Jersey
04/07/2013 5:58 pm
Agree on the tires. I’m on my 7th leased car and I’ve always returned the cars with the original...
tires and brakes.
John Bono
North Jersey
Topic starter
04/07/2013 6:32 pm
Haa haa that's cool whatever floats your boat man!
I dont and wouldnt lease and have my own reasons. I generally thing a brand new car is a big waste of money unless A) you can really afford it, meaning either pay cash, you have the cash for it but rather hold onto your money and you get a low interest loan or B) You are now retired, kids are gone, house is paid and you wanna treat yourself to something new. Mom did just that with her Chrysler 300C back in 2006. Her first new car, paid cash for it, no loans or any lease BS and she likes the car and sacrificed for many years so she definitely deserved a new car and a "treat" at 67 years old. BUT for the average kid making $27-$35Gs and living at home to buy or lease say a new 3 series "just because" so he could show off and look good when he could be saving for real estate or something more productiive its just silly IMO!
04/07/2013 7:12 pm
I've been in business virtually my entire adult life therefore....
04/07/2013 7:13 pm
I'm aways over the mileage so I'm always replacing tires at least once. 🙁
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