6 Month Lease???

Leases are horrible financial decisions. If you need a car extremely quick because of any type of misfortune just rent one for a few days until you can buy a new one, but otherwise don't lease.

 

Go to LeaseTrader.com or SwapALease.com. You can find cars there (almost ANY kind) that you can assume leases from existing owners. They typically pay the transfer fee, and there is usually no down payment associated with it.

Good deal if you are into leasing.

Nick

 

like many things in life nothing is this crisp.

leases make financial sense for certain people. it's true that they don't make sense for most people though.

doody.

 

Rich kids I hope your parents have a large disposable income.

 

That's a ridiculous statement that neither makes sense nor is true. How old are you?

 

I agree - there are many reasons to lease - Those of you that quickly dismiss leasing - have never owned your own buisness and used leasing for corporate cars as opposed to paying on depriciation?

There are many reasons to lease. And yes you can lease for nearly any term you would like. The most common would be 1+ years (mostly 36 months on the average consumer lease).

I do look at super long term leases of 5 years (have also heard of 6 year) that I believe are not the best decision for the end consumer - it subsequently traps you for a very long time and would make you very upside down if you had to get out of such a long term lease...

But if you believe that all leasing is a bad thing - you obviously have no idea about buisness and accounting - and some of the tax advantages that you can gain...

 

I'd love to hear more on the advantages of leasing. I'm due for a new daily driver soon and am considering leasing. I do not own my own business; I work for the man. Any tax havens/tricks you have I'd love to hear.

 

If you own your own business and the vehicle can be expensed as a necessity, a portion can be written off in addition to maintenance and a certain number of kilometers per year.

If the car is used in shows, maintenance, upgrades, transport, and many other costs can be easily written off once you provide proof of income generation from the vehicle.

If the monies excluded from a lease situation versus a full cash purchase can be used to reduce personal debt attached to greater interest rate, then leasing may make sense simply based upon deferral of cash outlay from a depreciating asset towards reduction of debt.

Same would also hold true if deferral of the disposable income was redirected towards any investment that produced a greater ROI and ROE after taxes.

It would also make sense in situations where one felt that the vehicle could be resold at term or prior to term where the vehicle wasn't upside-down and there was equity in the deal.

Preservation of seed capital is so important these days. If you have better uses for it than investing tens of thousands of dollars in a depreciating asset, leasing may be the wiser choice in certain cases.

There are very few absolutes in life, and blanket statements that are sweeping generalizations are rarely accurate. Such was the case with "Leases are horrible financial decisions."

 

Could not be better said and described.....

 

I don't believe the highschooler owned his own business. Obviously you have no conception of reality.