What are your personal experiences with leasing a vehicle. I have not really looked into it yet. My wife drives less than 10K miles per year. Pros and cons?

We have leased my wife's last few SUV's. Makes sense being she doesn't drive all that much and if she wants a new car every few years, it makes t easy. I think we'll end up buying the one she drives now though. So far its her favorite one she has had. The only Con I can think of is that unless you buy some additional protection of some kind, you can be on the hook for certain damages beyond regular wear and tear that at the same time may not necessarily warrant an insurance claim.

I've done both. Financially, leasing makes sense if she doesn't drive much and wants to trade cars every few years. Buying makes more sense if she will drive the car for years after it's paid off.

That being said, I don't like the way a lease feels. I constantly worried about how much I was driving, any scratches, etc. It was like I was constantly in a rental car.

If she doesn’t ever drive and she’s not worried about ever owning it, it’s worth it. You will just always have payments

It was like I was constantly in a rental car.


You are

Wifeypoo has a 13 with less than 60,000 miles on it. it's a pretty inexpensive "lease" now. Loveying having no payments on it.

I'm not a fan but then I either pay them off quickly or pay cash and drive them for years.

I'd rather put that monthly payment in MY pocket.

Pros: New car every few years, generally once your at the end of the lease hand the keys over and it's done, always have a vehicle under full factory warranty

Cons: Have to be mindful of mileage, you perpetually have a car payment, on the hook for any minor damage outside of normal wear and tear (additional to scratches and dents be mindful of pets and kids)

When we first got married my wife had never had a new vehicle ever - so we leased a Camaro - she takes exceptional care of stuff (after 3 years it was still like a brand new car inside) - and since it was a small sports car she only drove it to work since I hated driving it. No problems with leasing and I actually came out a little ahead when I traded it in a few months before the lease was up.

With that said - I much more so prefer to own vehicles - just a personal preference. It never truly felt like "ours." We have two labs (no kids) so I wanted to be able to put the dogs in the vehicles (either mine or hers) and not worry about it. Same goes for minor dents and scratches. Now that we own both vehicles (and she moved up to a full-sized SUV) we can spread the miles out between my truck and hers and not have to constantly be mindful of it. Had some hail and she has a few small dents on the roof and one on the hood - not enough to justify a claim for us - but IF we had leased - I would have had to file a claim to get it fixed. Since we own it and she plans to drive it indefinitely no claim needed.

If you like to have a new car every 3 years or so it's a better deal because you never own the car your buying whey you trade it every 3 years........

I have a 2004 F350 with 099780.0 on it been paid for since 2005

I haven't turned one in yet, but so far so good.

I have a 2004 F350 with 099780.0 on it been paid for since 2005

I bet that's carried a lot of "produce"

THIS FOR ME

Yup, no lease here for my wife's car. Leased for years....nice to own and no payments.

Worthless post! ^^^

BOT...prefer not having a car payment. I would avoid a lease.

She’s driving a 2011 F-150 right now that I bought in 2012 with 25K miles on it. It has been the best vehicle I’ve ever owned.
My company recently started leasing their vehicles. I haven’t figured how they are coming out ahead on them. When we owned the trucks we would drive them to 180K and get a new one every two years. With the leased vehicles we are driving them to 100K and getting a new one at just over a year.

My daughter will start driving in the next year and I've been thinking hard on leasing a Honda Accord for her. I spoke with them the other day and for $209 a month she can be in a brand new one. To me that seems pretty hard to beat for a real nice first car.

Different sides of the accounting balance sheet. When they buy and own, it's a capital asset and subject to depreciation, taxes ... When they lease, it's an expense and can be used as a business cost to offset gains.

Yep because you are gonna need all that other $ to pay for the auto insurance when you add her to your policy. And being a new lease veh insurance company rate ain't gonna be cheap on her but I am not saying dont get a safe and reliable vehicle.

Same here no longer drive enough miles. I only get my oil changed when I get my inspection for my license plates.

Lease is a complete write off for a business....purchase is depreciation/expenses/interest but gotta recapture when it's sold. Much easier accounting on a business to lease, and it lessens debt burden and/or assets.

edit--sorry, gtrich already addressed it.

Makes sense.