Ditto but reversed. Especially if your financial advisor is telling you that leasing the best thing for you beyond your own reasons.

 

It’s great to do whatever you want. I’d almost pay extra if I had to...just to have that freedom. Last summer, We almost bought a Subaru Impreza hatch, dealer would not offer a discount beyond manufacturers rebate...so just like that, after the appraisal, snapped our fingers and just left. Guess it would have been a different experience if my lease was ending the next day.

Sometimes the latest and greatest is good and sometimes the latest is not such a nice thing to have.

 

Agree. Hence why I want an older 2015 LX, I don't want that mouse remote interface Lexus setup at ALL. Touch screen we already have and like. Even though the interior on the updated one is miles better overall. I also want the 20 inch rims because it's impossible as of now to find anything off road oriented for the 21s now that the current one has.

 

I think I would agree the 15 is a nicer overall package than the 16+ refresh. The exterior of the refresh is pretty hideous looking as well.

The LX570 did come with 18” rims at one point. And the 3rd row seats should be removed right away and throw in the garbage.

 

Hah, agree. In all honesty I may buy some 18 inchers instead with heavy duty off road tires to swap on as needed, many people do that.

3rd row seats are pitiful and do need to be removed but I love that there's a tailgate at least.

I also agree the '15 is better looking truck, however those 21" rims are gorgeous on the new ones.

 

I do whatever I want.

And you would never wait until the day before your lease matures to negotiate a new one. I do so around 6 months out. You can always extend your lease another month also, LFS will allow extensions up to 6 months and every leasing company I have dealt with will also.

Personally, I'm buying a car not a deal. If I'm shopping for a new car, I'm going to buy a new car, doesn't matter if the deal isn't what I would like to have, I negotiate the best deal I can at that time and pull the trigger.

 

I Never knew there were 21” on the new model years.

 

Yeah...i buy the car i want at the prices I want to spend. Typically a used car is out because I like to buy new model cars so used aren't available and i'm not about to settle for an older version. Lease vs. Buy is purely a financing decision (and very secondary) and the factors that go into my spreadsheet determine the structure of the lease or buy. Typically, I decide to buy because I drive 20k miles a year. I completely agree with your take on things though...there is no such thing as the better choice...its purely a mathematical exercise into picking the optimal choice for the leaser/buyer. There is always an optimal choice based purely on math.

 

For me:

From what I learned in business school and from the street (my friends who own businesses and friends who are independent contractors), there are huge economic and bookkeeping advantages to leasing. Since I don't own a business and I'm not an independent contractor, I did some simple math which convinced me to buy my vehicles and keep them ten years before selling and buying new, or used, again. I like the idea of not having a car payment for 5 out of every 10 years, and loath the idea of having a lease payment the rest of my life! In all my financial decisions, I try to walk a line between enjoying my money, and not wasting it. I'm willing to forgo having all the latest greatest tech for 5 out of 10 years, to save $ to spend on other things (they don't call it discretionary spending for nothing).

There are many other factors that played into my decision. For instance, I do all my own maintenance; I keep my cars looking and running like new; I'm not afraid to sell my used cars on Craigslist when I buy a new one (in fact I enjoy it); my wife doesn't like change, or bells and whistles; I have a lot of faith in, and appreciation of, Toyota/Lexus vehicles, knowing they will easily go 10 years without major breakdowns, etc, etc.

Again, everyone has a different set of factors/criteria that influence their "buying vs leasing" decision making. It's great to hear them all!

 

Well it factors into people's buying decisions if many will be driving less after this pandemic, with work at home more common, etc.

don't know who you mean by many, i'm certainly not. as i said, if our goals are to drive for least cost, then buying a 5 year old corolla and driving it until it falls apart is the way to go. anything else is 'wasting' money to some people!

one of my posts about leasing was in response to mmarshall talking about it being sensible to buy and own a car 4-6 years, when the math doesn't really support much if any benefit. but buying a used luxury car like you've done, and keeping it a long time, is pretty low cost and still driving a high quality vehicle... i get that completely. it's just not something i have any interest in doing.

yup, i did that. why? because yup, i wanted the lower payment on a car i would otherwise never have leased and the trade-in cost of the jeep, while sure i could have 'pocketed' that and paid a full lease payment instead, was 'sunk cost'. may make no sense to you, but again, doesn't mean it's 'wrong'. MOST people expect to have car payments forever, so they look to that as the cost of driving. sure i've had cars paid off outright. when we first met, the gs400 i had was bought cash, with a sale of eBay stock.

I don't know about issues with driving a leased car out of the country, is that somehow not allowed? But regardless, those things you listed... mods on leased cars can easily be taken out, and nothing stopping someone driving more miles on a lease car, just have to pay for the overage or work out a deal, no biggie - it's actually not very expensive. So i'd say all those things are non-issues, false strawmen. When was the last time you drove out of the u.s.?

I have ZERO interest in modifying cars again, don't drive a ton of miles, so the contract is irrelevant to me. I also have no attachment to cars, period. I no longer WANT to own a car. But i do like driving a newish one when i have to drive, so leasing makes a whole lot of sense FOR ME, but obviously not for you, who likes control and a feeling of greater freedom, that's fine. I hardly think the money for you one way or another is actually relevant. Lol - it's just a mindset. Speaking of mindsets, I know many REALLY REALLY wealthy people (like hundreds of millions to billions rich) who haggle over prices on things under $100 because they just can't help themselves and have to feel they 'won' on any deal, no matter how small. I see it as petty and abusive, often to very humble businesses they deal with.

Agreed. Just curious, if you can get 0% financing, you still wouldn't finance?

Agreed also!

To you. First, depends on the car. There's basically no old car i want to drive. Second, a paid off car to me is now a waste. Life is short... i want to drive what i want to drive, within financial limits.

i understand why you do what you do! Just as i will NEVER buy or lease a used car.

 

How does it not support it? When you consider that the average vehicle's highest depreciation is usually in the 1-3 years, with the curve flattening out sharply after that, and that 7 years or more (with average accumulated mileage) is often when major repairs become more likely, with many vehicles by then out of the original warranty, the 4-6-year vehicle-replacement schedule (on a purchase, not a lease) is often a happy medium between the two. Consumer Reports has, on occasion, also said the same thing. Obviously, however, when one is talking about a lease (usually for 2-4 years), that changes the whole equation, and is another whole ball of wax.

 

on your trade I get it, the lower payment was important to you and was an easy way of disposing of a car you owned. I simply was generally agreeing in principle with Steve’s statement about zero down payment on a lease not condemning your personal approach. Not something I would do but I also wouldn’t lease so there you go.

Nope I wouldn’t do the finance even at zero percent. Except for mortgage (which I choose to keep) I’ve been totally debt free since 1993. I’ve paid for every single vehicle I’ve owned in my life with cash. If I have to take a loan out to afford it, I don’t buy it. Sure for the rare free interest deal I could invest it and make some $$ but I don’t need need the hassle and I’m a relatively lazy investor.

yeah, those things I listed are real issues for many leasing agreements and yes they are things that would bug me. Great for you they are non issues, but they certainly aren’t false statements, most of those items are based on personal experiences with friends that have informed my opinions on leasing. If you aren’t aware of them and doubt me, do some googling. I do suspect higher end luxury car leasing is a much better experience than those who might do it for lower end vehicles.

 

The only reason not to put money down on a lease is because you could lose it if you total the car. Otherwise it’s just prepaying rent you would pay one way or the other.

Better thing to do to bring the payment down is make multiple security deposits to buy down the money factor. That way the money is safe and you get it back at the end.

 

If the average person wants an interest rate reduction. Adding money down will go towards this. Lexus is offering 0% leasing on a new LSh if there is enough money down

 

Putting money down on a lease does not reduce the money factor (interest rate) buying down the money factor with multiple security deposits does.

You will never find a zero interest lease. It can get pretty close, but never zero. Even with MSD you can’t buy it down to zero.

MFs are pretty low on the LS anyways. I think mine is .0007, which equates to 1.68%. The Pacifica is .0001, which is .24% interest, about as low as you will see.