Should I lease a car?

Scientific Games / Eng HmLh12
May 31 19 Comments

I need a new car and wanted to treat myself with a nice car ~(40k-60k).
I don’t think I will live in this area forever (might move to the city in a few years), so I am considering leasing a car instead of buying. Should I do it?

TC: 95k
YOE: 3

comments

Want to comment? LOG IN or SIGN UP
TOP 19 Comments
  • Microsoft Papa Jones
    You don't "need" a new car. Treating yourself is fine, but not if you're paying above your means to do it. Have you considered 3 year old lease returns? You can probably get a 50k car that is almost new for 20-25k with an extended warranty. I did this and everyone thought my car was brand new
    May 31 0
  • Varian Medical / Product
    NzLh55

    Varian Medical Product

    PRE
    Apple
    NzLh55more
    It’s easier to sell a car than deal with a lease for many people. But not for all.
    May 31 4
    • Oscar 🐨koala
      I also like owning a car and a car that doesn’t cost 40k....
      May 31
    • Amazon broke&dumb
      What do you mean? Do the dealers give a hard time taking the car back after the lease is over? I won't be surprised if they did, those are the most disgusting scum on earth.
      May 31
    • Workday / Product str
      Dealers have no say in a lease return. You deal directly with the company and the financial services arm. Assuming that you have maintained the car well you can just walk out of the dealership after returning the car once the lease is up.
      May 31
    • Amazon broke&dumb
      Thanks
      May 31
  • TC?
    May 31 5
    • Scientific Games / Eng HmLh12
      OP
      95k
      May 31
    • Varian Medical / Product
      NzLh55

      Varian Medical Product

      PRE
      Apple
      NzLh55more
      Lol don’t buy a 40k car on 95k TC
      May 31
    • Microsoft Papa Jones
      Yea this is a horrible idea
      May 31
    • T-Mobile fun oh
      Save up the 30k an year for 5 years by taking the bus and not eating out. Or buy what you like and leetcode for an year to earn that 150k savings the next year in TC bump.
      May 31
    • Facebook tTFN31
      why? cars are fun
      May 31
  • Uber Uberer
    TC or GTFO
    May 31 1
    • Scientific Games / Eng HmLh12
      OP
      Updated
      May 31
  • OpenTable Meliodas
    No, you shouldn’t lease a car that costs half your income.

    Buy a used car and pay cash.
    May 31 0
  • Autodesk / Other -oQo-
    Leasing is when you are not sure what car to drive but you need a car immediately. Or, you like a car but you don't know how well it works. There are always good leasing deals.
    Buying is for people who want to keep it longer and don't mind driving an old car for a while. If you already fixate on a car, you should buy it or finance it. If you lease it, you may end up buying it at the end, which can be expensive.
    Overall, from a long term car ownership's perspective, leasing is cheaper than owning. Cars are depreciated assets. Once you buy it, its value already drops. There is usually expensive maintenance and repair after 5/6 years of owning the car. You want to make sure you really like the car before you buy it.
    Jun 8 0
  • New / Eng enSs58
    I'd buy a 3 year old used for half price.
    May 31 0
  • With $90k, you should not buy $60k car. This is not treating yourself rather stressing yourself.

    Buy under $10k car.
    May 31 0
  • Microsoft MUlg35
    What type of car?
    May 31 0