Pros and Cons of Leasing a Car - LotusTalk - The Lotus Cars Community
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post #1 of 11 (permalink) Old 07-23-2019, 12:05 PM Thread Starter
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Pros and Cons of Leasing a Car





The route to car ownership is filled with many options and leasing can be one for those who do not want to commit to a long-term purchase.



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post #2 of 11 (permalink) Old 07-23-2019, 04:04 PM
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A real advantage of leasing is that the little nicks and scratches don’t feel distressing. Sure you don’t want them to happen, but the “who cares?” thing is genuine.
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post #3 of 11 (permalink) Old 07-23-2019, 07:29 PM
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Originally Posted by XHILR8N! View Post
A real advantage of leasing is that the little nicks and scratches don’t feel distressing. Sure you don’t want them to happen, but the “who cares?” thing is genuine.
Never leased a car but I could image the feeling, like a rental "its not my car".

Back to lease in eternal, I would always have a dark cloud over me saying its not my car, I can't modify to my liking. I only purchase with cash or will finance on occasion if they are offering one of those ridiculously low 0.9% or less type deals where their cash back alternative isn't there.
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post #4 of 11 (permalink) Old 07-24-2019, 02:40 AM
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I reached a point where I don’t want to mod a car beyond floor mats and a license plate frame, radar detector mount. Just buy one that is well set up, enjoy it as the original designers choose. Even if I wanted to track again, I’d go to Hethel and ask them to make me a turn key car.

And I came to realize that we never really own anything in this life. We just take care of things for a while.

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2007 Toyota Tundra (about 10 cup holders), traded for 2015 Tundra TRD PRO
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post #5 of 11 (permalink) Old 07-24-2019, 03:37 AM
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I have leased cars for business. There are tax advantages, basically it is rent, so you write it off as rent.

It is possible, tho not likely to 'win' the leasing game when companies are being aggressive with leases.
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post #6 of 11 (permalink) Old 07-24-2019, 05:31 AM
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Downside is that no matter what lease you get, it’s like ordering food in a nice restaurant. As soon as the order is placed, the waiter walks by with something that looks better.

Right after leasing the Lexus, Aston came out with mind blowing lease deals on the Vantage. Same monthly, 0 down. Of course tax and insurance etc would be a lot more, and the Lexus is nice, carefree. But still....

Anyone can make something complicated. It takes genius to make it simple. Einstein.
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2007 Toyota Tundra (about 10 cup holders), traded for 2015 Tundra TRD PRO
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post #7 of 11 (permalink) Old 07-24-2019, 06:05 AM
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As a 'drive it until the wheels fall off' guy, I think the best thing about leases is that two year old low mileage cars come off lease after being under a specified care regime having depreciated and been burn-in tested under someone else's watch.

Further, a two-year-old car is unlikely to develop mysterious design flaws - you've had two years for bad things to show up in the population.

Lease returns are a great choice for a wife/kid/family car if they meet your requirements.
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post #8 of 11 (permalink) Old 07-24-2019, 08:44 AM
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I will never buy a car I don't intend to keep for the long term. I am now happy to lease and not have to worry about anything without a warranty.
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post #9 of 11 (permalink) Old 07-27-2019, 09:33 AM
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Another wrinkle on leasing.

When someone turns in a lease prematurely, the leasing company has that car on their hands. It’s possible to get some real deals if you pick up that lease. The companies that are holding the cars are motivated, often even offer cash incentives.

Some of the cars offered for the “release” are pricey cars, maybe the original lease holder just could not afford them?

Gotta be some downside, maybe they ran hell out of them before turning them in. Or left a dead fish in it.

Anyway, this is just one site https://www.leasetrader.com/?nm=1/LT300309

Anyone can make something complicated. It takes genius to make it simple. Einstein.
2011 Evora S Racing Heritage Edition (#3 of 4) (Now with alexsharkeyross)
2005 Elise LRG, track prepped ,
1974 Lotus Europa Special 3841R in JPS livery
2007 Toyota Tundra (about 10 cup holders), traded for 2015 Tundra TRD PRO
2007 Audi S4 DTM (RIP) 1980 Rover SD1 (new home) 2015 Honda Civic Si
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post #10 of 11 (permalink) Old 09-19-2019, 08:47 AM
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If cost is your main concern, buying is always better than leasing. This assumes you are buying something that doesn't have a catastrophic weakness.

If cost is no object, then yeah, leasing a new car every 3 years is solid. You get something new all the time. You rarely have to deal with maintenance. My biggest issue with leasing is the mileage limits. For my primary car, we put about 18K-20K a year. That really makes lease prices unattractive, and also the process is also annoying. You essentially are trying to predict how many miles you need before you need it, and the penalties are unattractive. Also at those mileages, you can't get away having to do tires & brakes in the lease period.
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post #11 of 11 (permalink) Old 09-19-2019, 10:57 AM
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Like shakham, leasing is a tough option for me as well. I drive just about 15-20k miles a year and the mileage limits would put me in a not very cost effective position. With that said, I love owning my cars, too. Usually, when I pay off my daily, I keep it for a couple years with no monthly payments. And if I decide to upgrade, I can still use my car as a trade-in and start the process over. I truly prefer the feeling of owning than "renting".

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