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Eh, good points to make for both sides. For me personally, I would only lease a vehicle that has steep depreciation, like an S class Mercedes, 7 series BMW, etc. I also never buy new vehicles, I typically wait 3-4 years before purchasing, so I don't take that depreciation hit myself.
It boils down to personal preference, and individual situation. Leasing, you'll never accumulate equity like you will with buying, especially on a car that doesn't depreciate much.
A friend of mine always leases his cars. We used to make about the same amount of money for years. Every 2-3 years, he'd trade his $25-30k car in, and get another one in the same price range, basically starting from scratch every time. I purchase my cars and keep them on average about twice as long as he does. Over time, I've built up a helluva lot of equity in the cars in our garage, we owe nothing on them, and he's still leasing cars in the same price bracket and wondering how we can afford to have them all.
I would love to know which vehicles you own that "built up a helluva lot of equity"
The only anecdotal example I can come up with for pro-expensive tint, I was talking with someone (my esthetician actually) who was saying that her car windows were tinted, yet she was still getting sun damage from being in the car. I don't know what brand tint she had, but I didn't experience that my first summer in Llumar.
It seems to come down to how much you care about what you get.
Here's another shop that has great reviews and use Llumar film.
Thanks, but it's not one of the $125 places is it?
It's also in Brooklyn. That'd be a hassle from northern NJ and I'm terrified of driving in the city anyways.
I might also be paying a premium simply for being in NJ where there aren't clusters of tint shops right next to each other, but it's still peace of mind.
Thanks, but it's not one of the $125 places is it?
It's also in Brooklyn. That'd be a hassle from northern NJ and I'm terrified of driving in the city anyways.
I might also be paying a premium simply for being in NJ where there aren't clusters of tint shops right next to each other, but it's still peace of mind.
No its not but since you want Llumar or another premium brand tint then the shop to the link I provided carries that. If its going to save you a few hundred bucks then it might be worth the trip. I'd call just to get a quote and compare to what they're charging you in NJ.
He means he's saved a lot of money by owning paid off cars vs having constant lease payments.
But cars depreciate. And they cost money to fix.
Say two e-ballers both go out and acquire $100,000 German rides.
Guy one pays cash cuz that how he rolls.
Other guy does a 36/12 lease and puts 4 grand up front and 1300 month for 36 months.
3 years later that 100k car has a value of about 40k. Baller two has paid 50,800 in lease payments. His balance is 50k. Does he care? No. He takes out another lease.
Baller 1 car after has two codes that will cost 4000 to fix as he has driven out of miles on his warranty. But after 3 years his car has 40k "equity" that he paid 100k to get. Who wins here?
Say two e-ballers both go out and acquire $100,000 German rides.
Guy one pays cash cuz that how he rolls.
Other guy does a 36/12 lease and puts 4 grand up front and 1300 month for 36 months.
3 years later that 100k car has a value of about 40k. Baller two has paid 50,800 in lease payments. His balance is 50k. Does he care? No. He takes out another lease.
Baller 1 car after has two codes that will cost 4000 to fix as he has driven out of miles on his warranty. But after 3 years his car has 40k "equity" that he paid 100k to get. Who wins here?
My friend leased his second Audi A4 just for that reason. One major repair can negate any savings. My neighbors Porsche Boxter was $1600 just for an alternator. I'd buy a regular car or truck but those premium brands have premium repair costs too. That would be a lease all the way.
On the topic of tinting, I've heard of people paying $400+ for Llumar and thought it had some great benefits but apparently not. I opted for a $200 install of Suntek Carbon quite a few years back and have been happy with it. Even these "pros" can't tell the difference.
Looking at a BMW 5-series offer in our area.. $449 per month for 39 months, $4,174 due at signing. Of that "due at signing," $449 is the first month's payment, the rest is $3,700 in nonrefundable fees. Then there's a $350 disposition fee on the back end of the lease and a purchase option of $32,147, plus 20 cents per mile if you drive over 10,000 miles per year. Taxes, registration etc. are extra, but it's the same if purchasing so I'll disregard that in my calculations.
MSRP = $52,700
Total lease payments = $17,511 in monthly fees + $3,700 up front + $350 at the end = $21,561 plus any over-mileage fees (and this includes a $2000 "holiday credit") Residual value = $32,147
Lease payments plus residual = $53,708
What this tells me is IF you are within the mileage limits, then you still come out $1,008 behind a cash purchase over the duration of the lease, assuming all other conditions are the same. However, you will come out far, far ahead of financing.
Can you educate me as to why you have to factor in residual value? You're not paying that out at all when done leasing. Aren't you trying to compare out of pocket costs?
Say two e-ballers both go out and acquire $100,000 German rides.
Guy one pays cash cuz that how he rolls.
Other guy does a 36/12 lease and puts 4 grand up front and 1300 month for 36 months.
3 years later that 100k car has a value of about 40k. Baller two has paid 50,800 in lease payments. His balance is 50k. Does he care? No. He takes out another lease.
Baller 1 car after has two codes that will cost 4000 to fix as he has driven out of miles on his warranty. But after 3 years his car has 40k "equity" that he paid 100k to get. Who wins here?
Oh, I know.
Leasing is tricky; to begin with the dealerships don't want to give you the actual full price of the car you want to lease, like they give you when you buy a car. They make it complicated to understand. There's no clear right answer all the time because there are so many variables that are being manipulated by dealerships to net them the greatest profit, and the amount of profit a dealership is willing to lease/sell a car for can vary dealership to dealership I guess.
so how is any consumer supposed to get the exact same deal someone else got in another state for another car from a different dealership?
Honestly, cars are a money pit either way. Lease if you like driving new cars, buy if you're ok driving the same car for a while.
On the topic of tinting, I've heard of people paying $400+ for Llumar and thought it had some great benefits but apparently not. I opted for a $200 install of Suntek Carbon quite a few years back and have been happy with it. Even these "pros" can't tell the difference.
This is something I think Consumers Reports should do a test on.
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