Religion and Ethics BBS

Religion and Ethics BBS
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Benefits of Leasing a vehicle?

Posted by CE0802 on April 13, 2025, 6:04 am

I leased a car many years ago. 1984, to be exact. I recall vowing never to lease a car ever again, but I forget why.

My mother-in-law needs a car. She wants new, not used. She's elderly, and my father-in-law has dementia and is physically debilitated. So she probably won't be driving much longer. Maybe three years at the most.

The debate now is, should she buy or lease?

I think she should buy. When she stops driving, we'll buy the car from her.

Thoughts?

Leasing is for broke people who think about payments vs total cost.

Posted by KR on April 13, 2025, 8:00 pm, in reply to "Benefits of Leasing a vehicle?"

Used cars are usually a better purchase than brand new ones.

Not sure about individuals leasing...

Posted by BornToFarm on April 13, 2025, 7:33 pm, in reply to "Benefits of Leasing a vehicle?"

but businesses benefit by the ability to write off the total amount of the down payment and lease payments in the year they are paid.

When one buys a car or light truck, there are limitations, fairly low, that a business is allowed to write off per year, stretching out the number of years it takes to write off the purchase. So, the company would get the tax benefits earlier by leasing.

For, individuals, I don't really know....I suppose if one wanted a new car every year or so there might be some advantage. But be sure, the leasing company has everything penciled out to benefit themselves or they wouldn't be doing it.

I buy a truck and keep it until it falls apart. Leasing means paying for it as long as you have it.

The temptation in leasing is the lower cost

Posted by Trish on April 13, 2025, 9:01 am, in reply to "Benefits of Leasing a vehicle?"

but I worried all the time about nicks and dings or other things that I might end up being responsible for.

To me, one of the biggest advantages in owning is that you know exactly what work you've put into the vehicle. You get to know the "feel" of the car. I confess I named my Kia Serrento Hope (lol - I have a habit of naming things). She's paid for and it hasn't given me one iota of trouble

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