Leasing / Winters ?

[TezlaTO]

Hi there

After countless hours doing Pro’s Con’s I’m deciding to Lease.

For me, I Lease all the the time and haven’t kept a vehicle more than 2yrs in 15 years. Bad habit but it is what it is.

This time it’s different, there’s no selling option during Lease (lease buyout), only Lease Transfer option.

So question is, do I put money down to lower or just do high payment. But if I get bored like usual hard to transfer a regular payment when someone can lease they’re own with same payment.

Winters:

should I just buy winter rubber and not spend the $$$ on a pkg as I’ll be just giving the car back in 4 winters ? And use the stock rims.

Got the 19 Sport.

Lease rate is high at 4.4% but again, there’s no way I keep it past 4 yrs- in fact, 3yrs would be a record lol

 

[pbcsd]

Why would you ever put money down on a lease, especially where there is no buyout option at the end of it?

 

[VanGuy]

Why would you ever put money down on a lease, especially where there is no buyout option at the end of it?

 

[VanGuy]

Why would you ever put money down on a lease, especially where there is no buyout option at the end of it?

Plenty:
- Tax reasons. It's significantly easier, cleaner, and generally more cost effective to write off an operating lease, which this would qualify as.
- Life reasons. Some folks don't have time/energy to deal with the transaction of buying and selling a car. The only way you're going to "come out ahead" is if you're doing the buying and selling yourself, and directly. You'll take a haircut similar to what a lease (or other financing arrangement) will cost you in interest if you end up selling to a dealer.
- Preference. Some people want a new car all the time. They want to never deal with out-of-warranty items. They have no time, patience, skill, or space to save money by doing any of it themselves.
- Vehicle allowance. I've seen folks with "use it or lose it" vehicle allowances that will cover payments.

You do realize that a lease is just a more involved financing arrangement, right? They aren't necessarily even a bad deal. If you have good credit and you actually look at the lease agreement - Specifically the buyout amount - You can expect overall costs to be in-line with financing.

Just bought out my 4runner off lease and am pocketing nearly $25k. Sure, the current upside-down world helps but my buyout was extremely generous compared to what 4runners of similar age would have been selling for.

 

[pbcsd]

Plenty:
- Tax reasons. It's significantly easier, cleaner, and generally more cost effective to write off an operating lease, which this would qualify as.
- Life reasons. Some folks don't have time/energy to deal with the transaction of buying and selling a car. The only way you're going to "come out ahead" is if you're doing the buying and selling yourself, and directly. You'll take a haircut similar to what a lease (or other financing arrangement) will cost you in interest if you end up selling to a dealer.
- Preference. Some people want a new car all the time. They want to never deal with out-of-warranty items. They have no time, patience, skill, or space to save money by doing any of it themselves.
- Vehicle allowance. I've seen folks with "use it or lose it" vehicle allowances that will cover payments.

You do realize that a lease is just a more involved financing arrangement, right? They aren't necessarily even a bad deal. If you have good credit and you actually look at the lease agreement - Specifically the buyout amount - You can expect overall costs to be in-line with financing.

Just bought out my 4runner off lease and am pocketing nearly $25k. Sure, the current upside-down world helps but my buyout was extremely generous compared to what 4runners of similar age would have been selling for.

Didn't mean why would you ever lease. Meant why would he ever put money down on a Tesla lease with no buyback option.

 

[Casmium]

Didn't mean why would you ever lease. Meant why would he ever put money down on a Tesla lease with no buyback option.

If you play with the lease calculator on the tesla site, and put the maximum down payment on a LR model 3 for instance then you would save approx. $800 over the 4 years, assuming your not investing your money on something that will preform better over that time.

 

[VanGuy]

Didn't mean why would you ever lease. Meant why would he ever put money down on a Tesla lease with no buyback option.

My bad.

 

[Danzel]

Didn't mean why would you ever lease. Meant why would he ever put money down on a Tesla lease with no buyback option.

Im leasing and put some money down because i wanted smaller monthly payments simple as that.

 

[TezlaTO]

Thanks for all your responses everyone. I decided to take it on their loan with 0 down. As mentioned by @VanGuy , I do want a new vehicle all the time. Therefore I've leased every car I've had and after a year or so sold it with the buyout without owing. Basically paying off the car for someone else, don't care.

Unfortunately with Tesla you can't do that which sucks. You're committed to that Lease for 4 years. THAT I cannot do as longest I've had a car is 2 years. So that being said, gonna gamble and buy, then sell it in 2-3 years without taking a hit hopefully as my payments will be high.

Or I may end up keeping it. The only one I would switch to is the Y if they changed the body design a bit to not look like a bubble.

 

[Ther0ck]

Unless you insure the car with replacement, putting down money shouldn't be an option. If you car is totaled, you'll loose your cash down.

It can be different if you "advance" the cash and apply for incentive and get a cheque in the mail (ex : QC).