Are More Vehicles Today Leased than Bought?

[Stonepa]

Originally Posted by JONOV

Your missing the point...when was the last time you had a breakdown?

Aside from a short time when I drove a Saab, I really can't think of a mechanical failure causing delay on a trip. Accidents, punctures, sure. But not a true breakdown.

Amen. At least 3 months a year I drive my 400k mile Land Cruiser from Seattle to Central America, and often on to South America. I have never had a breakdown caused by mileage or age. Stupidity - yes - but that's a different discussion. I don't hesitate to make the drive because I maintain my vehicle by the book. Even with high mileage the truck is as reliable as it was when new.

[gunslinger256]

when my wife was a lease analyst for BMW, I remember her saying that nearly 90% of car transactions through the finance arm was a lease.

[Electrician4you]

Originally Posted by louie0406

Leasing makes sense if:

- You like to have a vehicle that is always covered under warranty.
- You get bored easily and like to have a new vehicle every 2-3yrs
- You like to have the latest safety and tech features in your vehicle
- You drive less than 12-15k miles per year.
- Don’t mind always having a car payment.

I would lease if I had a business. That's the only time it makes sense. Otherwise leasing is the worse way to own a car. You're buying a car and paying its highest rate and amount of depreciation and you're giving it back just as that depreciation starts to even out.

Yes I know a lot of people tend to justify that new cars are safer. Pretty much anything built in the last 15/20 years is gonna be safe. But people talk themselves into needing new cars all the time

Originally Posted by wheelsup

You can do that with owning as well so it’s irrelevant.

But if it's your ONLY vehicle you can only deduct a portion as a business expense.



I only leased vehicles when I had my business. Personal cars were bought cash. I bought new and used. New I waited till the end of the year and bought in November. I purchased leftover or demos. Last three trucks I bought were used. Theire pad off and have no problems. Even if I had to replace a major component say a engine or transmission it may run me 10k to do both. I'm giving a lot of leeway here on price. To buy the same trucks I have I'm looking at 65-75k. I can easily afford to fix it. Bit harder to just spend 65-75k om a truck. I drive about 34,000 miles a year now. Buying new isn't even a opportunity as I would kill pretty much any value on that car. I'll buy a few year old car with 100,000 and put 100,000 and sell it. Most cars today can easily reach 200,000 with few to no problems.



I buy cash, I buy used but I am very picky about what I buy