@RedBoneCoonHound47
As a business owner, leasing makes sense for my company. We don't want the asset on our books and have to deal with depreciation. It is beneficial for us to have a fixed monthly price that is fully deductible. We also don't want to repair vehicles out of warranty. Ford used to lease used cars and cover them under a warranty. That was great, but they ended the program.
@mrvoyagerm
Over mileage at the end of the lease can be handled two ways.1) Roll the extra charges into the next lease and then ask for a credit for the extra charges. If they want to lease another car today, they will forget the extra mileage. 2) If you like the car and there is nothing whatsoever wrong with it, you may wish to buy it outright. In that case there are no mileage charges.
@dariog36th
My friend leased a 2006 Nissan Altima Se-r and customized it because he planned on buying it anyways at the end of the lease. At the end of the lease he came back to the dealership ready to purchase it and they told him he violated the agreement by customizing it and he was going to have to pay thousands of dollars in penalties. But they would wave it all if he bought a brand new Maxima. That’s how the dealership got him and made him buy a brand new car and now they were going to make a killing on selling a customized Altima.
@gonefishing5434
Great information as usual. Scotty, the automotive expert at all points and angles. I wished I lived near him so he could work on my cars. Both of my cars are excellent. 2004 4 Runner, original owner and 2015 Toyota Avalon. Fantastic vehicles. I bought Toyota before seeing Scotty. I always knew they were very good products. Scotty is correct--they are in general the best vehicles made as far as dependability.
@God.Micronation7OD
None of this mess would be a problem in the first place if things were affordable.
@etothej
Leasing may not make sense for a lot of people, but it makes PERFECT sense for me and my situation.
@GaryASobek
Many of the vehicles in the video had right hand side drive (steering wheel) and were driving on the left side of the road.
@unclejimy
Man. I can't believe I just read through that whole thread of messages. Why do people care what other people do with their money? Just verified why i hate most people.
@reasoning_exp
Great info‼️ Thank you Scottie 💯🙏🏿
@ebinrock
It doesn't make sense to buy a depreciating asset. That's the difference in why we typically buy our homes when we can, because they're one of the few things in life that appreciates, not depreciates (unless you live in a run-down city). It's also much easier to sell your car than to move from house to house pretty often.
@rolandlymangrover754
Leasing makes much more sense because many times if you keep your car 10 years it's usually worth 10 times less than the base sticker price. A 50k car will end up being sold for 5k after 10 years. And buying the car now requires an 84 to 96-month payment. The payments are double that of leasing. Can we get away from the idea that we have equity in a car? After 10 years it's worth 10 times less than the sticker. Plus the maintenance costs over time will kill you. I drive a 2001 lincoln navigator and the maintenance is expensive. I should have just leased a car. I paid $1800 for it but the maintenance cost equals a lease payment.
@DuelistWave
i know this is just 10 mins of b roll with scottys voice but dammit im invested
@philindeblanc
The bank has no claim to the house, but the government does. Leasing peaked when you were able to write off 100% as a business expense.
@ebinrock
I used to buy my cars, until I kept running into repair after repair just as soon as I "paid it off" - many times going into the $2000+ range. (Full disclosure, I don't know how to fix my own cars.) So I was paying even well reputed car shops $200+ a month, which at that time was almost a new car payment anyway. So as soon as I paid off my last repair, I went to leasing and trading in every 3 years, and will continue to do so as long as I can afford it. I'm also having to take off work for car maintenance a LOT less (mainly just for oil changes, tire rotations, alignments, etc.).
@eric_w_570
Here in Pennsylvania it’s 9% of the payment monthly for taxes.
@thullraven1
Dave Ramsey calls it Fleasing and I agree. I leased before and will never do it again.
@mrlafayette1964
I'll never lease, I like old cars and trucks and enjoy keeping them looking and running good.The mirror will always be my back up camera.
@bondjames652
Leased a 24k car for 4 years with a buy back of 9995k.. Bought it and now it's worth 14k after 5 years. Enough said.
@drsysop
A lease you can write it off in your taxes as a loan you cannot. Lease comes with GAP insurance so if your insurance wont pay it fully when you are in a accident or its stolen its covered & you walk away. If you want to get out if lease early in most cases you can sell it just get the pay off for vehicle or sell it to Carvana as they take them + you can make money as they pay more than its worth & walk away.
@scottykilmer