Lease or Buy?
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Dealers on Socal said they are unable to provide me information for lease until July 17 2018 because Ascent is not available yet.
Ditto for me. I expect this thing to be in my garage for quite a while!
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357 Posts
I have never understood the lease thing, it may be cheaper in the long run but not by that much after all the fees, but to each their own.
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962 Posts
Leasing plugin hybrids will be very popular in CA the next 6 months. All current HOV lane tags expire Jan 1 2019, including the white tags on Teslas. Any new cars bought in 2017 or later can re apply for a new tag. Then the HOV sticker program expires in 2025. The Southern CA Republican voters made it a wealthy pay to play game so yes even I am shoping a lease replacement for our perfectly acceptable 3 yr old Plugin Fusion. High probability we lease a new Fusion plugin same **** car. After 2025 Im not sure what we’ll do? Move? Maybe except the same house I have today with equal quality public schools is about 3million right now. Property taxes alone would be half of my current house cost which is also a very high rent district 25min from Market Street San Francisco. Even very well paid TOP company management do not relocate within the Bay Area when they change jobs. They commute due to the cost of housing. Add that we no longer get to write off CA property tax it is even a bigger incentive to stay put.
For a 8 pass hauler you only lease if your planning on being an empty nester in 3 yrs. Or your moving over seas in 3 yrs.
If you do not trust a car or car company and are highly risk adverse Lease a new model.
For a 8 pass hauler you only lease if your planning on being an empty nester in 3 yrs. Or your moving over seas in 3 yrs.
If you do not trust a car or car company and are highly risk adverse Lease a new model.
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243 Posts
Another possible option coming soon will be "Subscription" based option for a new car (Volvo is already doing this with the XC40).
I'm pretty sure there will be customers out there that would pay a monthly fee for the car, insurance and maintenance all rolled in to one.
I'm pretty sure there will be customers out there that would pay a monthly fee for the car, insurance and maintenance all rolled in to one.
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962 Posts
My renters in SF are prime candidates for a car club program. They sold their car three yrs ago and rent when they need one. Though they want a T3 so curious to see what they do. Super nice people the kind of folks you want living in your former home. I can see Subscription or car club business growing. Around here traffic is so bad you avoid driving as much as possible anyway.
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590 Posts
While I plan on buying my Ascent and keeping it for 10 plus years I can understand the appeal or desire to lease. I have done both but typically purchase my primary travel car so I don't have to worry about miles.
Leasing can make sense for vehicles that depreciate quickly, you plan on needing a different car in a few years, you prefer to have newer vehicles that are under warranty, or you like to change vehicles frequently.
Yes leasing typically doesn't make sense financially but can in some cases such as a brand new vehicle such as the Ascent. If a major issue is found in 3 years you get to turn it in where as owners could take a large depreciation hit. If you think more features might be added to the model in a few years such as PHEV. Last is if you run a business you can sometimes have the payments put against earned income of your company.
Stating all of that for those willing to go from lease deal to lease deal you can have new vehicles all the time at much lower costs than owners will ever have. But this requires you to typically get base vehicles and only when they run the best deals. I believe at one point some leases have been less than $100 a month.
Sorry to give my 2 cents but while I have only leased twice I think a lot of people are negative on it because they don't understand it or the deals you can get. Granted I think to many people focus on monthly payments instead of the total cost of what they are purchasing and yes many people use leasing to get into trouble as they get more than they can afford.
Leasing can make sense for vehicles that depreciate quickly, you plan on needing a different car in a few years, you prefer to have newer vehicles that are under warranty, or you like to change vehicles frequently.
Yes leasing typically doesn't make sense financially but can in some cases such as a brand new vehicle such as the Ascent. If a major issue is found in 3 years you get to turn it in where as owners could take a large depreciation hit. If you think more features might be added to the model in a few years such as PHEV. Last is if you run a business you can sometimes have the payments put against earned income of your company.
Stating all of that for those willing to go from lease deal to lease deal you can have new vehicles all the time at much lower costs than owners will ever have. But this requires you to typically get base vehicles and only when they run the best deals. I believe at one point some leases have been less than $100 a month.
Sorry to give my 2 cents but while I have only leased twice I think a lot of people are negative on it because they don't understand it or the deals you can get. Granted I think to many people focus on monthly payments instead of the total cost of what they are purchasing and yes many people use leasing to get into trouble as they get more than they can afford.
My plan is to lease the car. Since it is a new model I want to make sure all the kinks are worked out if any and buy a new one in 3 years.
Your point is valid. With the "subscription" based option you get a new car every one or two years for a set amount monthly. The Volvo option might be great once they get the kinks worked out. My sister ordered a Volvo Care car months ago and has yet to receive it. All Volvo Care cars are stuck at the port right now while Volvo tries to figure out exactly how the "insurance" portion of the agreement is going to be handled, among other things.
Looking forward to seeing the Ascent on the dealer lot, soon.
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243 Posts
I'm assuming then that Subaru doesn't restrict sales on leased vehicles?I plan on leasing mine, then selling it for a profit after 3 years, then getting another
No they don't. I did it with my Impreza and I'll do the same with my Legacy as soon as my Ascent arrives.
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43 Posts
So how does that work? I was assuming you purchased your vehicle at the end of the lease and then sold it - in which case Subaru or anyone cannot object but this sounds different.
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243 Posts
Not necessarily....here's a quick info https://www.edmunds.com/car-leasing/3-ways-to-turn-your-lease-into-cash.html
I just do whats we call an "in and out" with the dealership. I find the buyer and agree on the sales prices. I sell the car to the dealership for the agreed upon sales price, pay a $300ish fee, the dealership sales the car to my buyer for the agreed upon sales price.
Bonuses for everyone! I get market value for my car rather than trade value or just walking away. I also don't have to pay taxes on the buy out amount. That saves me like $1500 in Utah. The dealership gets my $300 fee and kickback from the bank for writing the loan for my buyer. Sometimes the buyer has their owe money, but most of the time the dealership gets to do it. The new owner of my car gets a no hassle buying experience and a very nice car.
Bonuses for everyone! I get market value for my car rather than trade value or just walking away. I also don't have to pay taxes on the buy out amount. That saves me like $1500 in Utah. The dealership gets my $300 fee and kickback from the bank for writing the loan for my buyer. Sometimes the buyer has their owe money, but most of the time the dealership gets to do it. The new owner of my car gets a no hassle buying experience and a very nice car.
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Thanks! This was most helpful.
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