Here’s Why Leasing a Car is Stupid

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Information Here’s Why Leasing a Car is Stupid

Title	:	Here’s Why Leasing a Car is Stupid
Lasting	:	10.18
Date of publication	:
Views	:	313 rb

I Won’t Fix This Jeep: youtube/scVyaIRevwwbrbr⬇️Scotty’s Top DIY Tools:br1 Bluetooth Scan Tool: amznto/2nfvmaDbr2 Mid-Grade Scan Tool: amznto/33dKI0kbr3 My Fancy (Originally $5,000) Professional Scan Tool: amznto/31khBXCbr4 Cheap Scan Tool: amznto/2D8Tvaebr5 Dash Cam (Every Car Should Have One): amznto/2YQW36tbr6 Basic Mechanic Tool Set: amznto/2tEr6Cebr7 Professional Socket Set: amznto/2Bzmccg br8 Ratcheting Wrench Set: amznto/2BQjj8Abr9 No Charging Required Car Jump Starter: amznto/3i7SH5Dbr10 Battery Pack Car Jump Starter: amznto/2nrc6qRbrbr⬇️ Things used in this video: br1 Common Sense br2 4k Camera: amznto/2HkjavH br3 Camera Microphone: amznto/2Evn167 br4 Camera Tripod: amznto/2Jwog8S br5 My computer for editing / uploading: amznto/301tYt9brbrSubscribe and hit the notification bell! ► googl/CFismNbrbrAs an Amazon Associate I earn from qualifying purchases
Comment from : Scotty Kilmer

I have always paid cash for my cars And I have never used a credit cardhmmmmmm
Comment from : Jeo

I'd always go for buying At the end of the day you have the car and if you want it for 5-15 more years you still have it
Comment from : Joshua Landry

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
Comment from : 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)
Comment from : ebinrock

Unless it's a BMW Right Scotty😂
Comment from : Chris Montes

Just buy the car
Comment from : Adrien Chan

Lol so if u don’t have 20k to buy a car right out your fucked 😂?
Comment from : logan taylor

Leasing is generally stupid for the average person We got burned on a lease from Gwinette Audi in Atlanta jacked the price of the car up, bastards I love when Scotty does these types of videos
Comment from : Butchcub75

Leasing is the better option if ya have the money for a new car every 2-3years
Comment from : Travis Rhodes

I would much rather buy to own! This way I can do whatever I want!
Comment from : Kimberly Hall

what is the name of the car in the thumbnail please
Comment from : Vietboy Gamer

I went to the Porsche dealer and try to see the leading option for a Taycan, crazy enough that the three years leading is at 2156 per month, but the monthly payment for buying that car is also 2156 around, maybe a couple hundred more Not a lot less than buying a car
Comment from : Drake Gao

I always thought leasing was better because if your not happy with car, can return it and get something better
Comment from : Anonymous Anonymously

The benefits of leasing have lessened in the last few years, but this is a little old school brbrI lease my trucks My payments are lower than most people financing the identical vehicle and I didn’t put a dime down In 3 years, I swap for something new brbrOf course, it varies from person to person (priorities, annual mileage, vehicle type) but 2-3 years ago I’d argue buying was kinda dumb brbrMost people buying are financing for 6-7 years By the time it’s actually paid off, it’s nearly time for a new one If you can buy a vehicle you like and pay it off quickly - hell yeah If not, this “no payment, paid off, I own it” stuff means nothing
Comment from : CB

Rent liabilities, buy assets
Comment from : Solutions reviews to my problem

It’s not bad! You get to trash driving a brand new German car for 2-3 years without having to deal with its problem and depreciation! The only downside is the annual mileage limit on contract
Comment from : dacoda666

As cars get more and more complex, I think leasing will be the main way people get cars over here in US Fixing new cars now days are just toooooo expensive and requires in house mechanics from the company to fix most of the stuff That's just my take
Comment from : JeffGreen4

Bought my 2010 Hyundai touring Elantra for 5k back in like 2015 with only 45k miles on it It now has 140k miles and still runs great It’s only had major work this year because I now live in nyc and these potholes destroyed my struts/tire rod and tires
Comment from : ceosha30

Leasing scares me so i just sucked it up and took the heavier car payment, i can pay it off early and have equity to trade in again later
Comment from : Jeffrey Watson

Personally the only modification I'd like to do is window tinting
Comment from : Antwon Mister

Leases are a way for people to get into a vehicle they otherwise couldn't afford To each their own
Comment from : John Lain

My first car i was suckered into a 60 month leasewith all the payments i made i shoildve just financed it to ownnever again My next car owned 12 years now and no payments for 7 years now
Comment from : Herb Bot

Another GREAT VIDEO! Thank you for watching out for us
Comment from : gfxnunez

Leasing really only makes sense if you can deduct it as a business expense
Comment from : Bill Santer

Leased once, never again Unless it's for a business write off in which case it's the way to go Too many restrictions
Comment from : TheHvk

I love leasing cars! It depends on what you can afford
Comment from : Adeezy

Cars always lose value! if you gonna finance your car and pay interest! might as well lease one! mechanica like Scotty dont like promiting leasing because it’s bad for business
Comment from : kian dacoda

Tesla’s aren’t slick
Comment from : Caleb Hudson

I guess for people that travel for work, businessmen and such
Comment from : Alex R

Why is everyone driving on the wrong side of the road?
Comment from : gskibum

Honda made it so you could only sell your lease back to them After I was already in the contract Greatly reduced what I could sell the vehicle for and felt kind of trapped Never again
Comment from : kopfschuss881

Leasing is the most expensive way to own a car I recommend finding another option unless you are wealthy and really just have to have a brand new car every 3 years
Comment from : The Flamekeepers

didnt listen to the full video but in germany its pretty much a business thing since they can write off the lease as tax deduction If u want to use private use u can do that for 1 (5 for hybrid 25 for ev) of the cars price per monththere its actually worth but if you lease one private it fking sucks So TLDR get one if your business offers you one but dont get it private
Comment from : Cope

"You will own nothing and be happy"brbrFace palm
Comment from : Stuart Mcluvin

Anything German just lease it for a peace of mind 😅
Comment from : Marvelous Opinion

The lease cost is less than the loan payment? What kinda crazy financial system is that? In my country leasing the car cost more!!
Comment from : Shawn Lewis

I always swap expensive parts before the lease end like the cats,alternator, ac compressor etciswap with older OEM original parts and this makes me about $5000 They never detect the parts because the all work properly for the short term
Comment from : ARiK X

Leasing is for rich people/companies, or people who were bad at mathematics at school
Comment from : DerpEye

Leasing may not make sense for a lot of people, but it makes PERFECT sense for me and my situation
Comment from : Eric

One thing that old people don't get, is that you don't have to OWN things to use them
Comment from : mindbuilder

leasing is for company cars Private lease is for those who can throw away money without regret
Comment from : Bugatti12563

I'll make it simple Buy a car if you drive more than 15k miles a year or if your poor Lease if you are a business Another example: Maybe your elderly and have money its worth it to get a new car every two years to have the security it wont break down on you
Comment from : TikiGodsRule

Oversl is a good video but it’s focused on “why you shouldn’t do a lease” Important details where left out like: 1) You’ll know the residual value of the car you are leasing from day one, meaning at the end of the lease you already know how much the car will worth in case you want to do a lease buyout, it and this number WILL NOT change 2) Most brand pays for the GAP insurance(Value of your loan - value of the car) when you lease, so if you end up totaling your car the next day you lease it, you won’t be left out with a debt of a car you don’t drive anymore 3) Life happens, and when it does, I’ll prefer to find myself attached to a car for 2-3 years than for 5-7 Lease is not for everyone, but for some of us is definitely the go to option 4) The different in monthly payments between miles allowance is literally $5 increase when going from 10k, 12k or 15k, depending on your driving And there is way more to know on how a lease will definitely make sense for you Do your research BEFORE going to the dealership, please! They’ll eat you alive if they smell that you have no idea about buying/leasing Cheers!
Comment from : Adrian Vento

I bought our cars in 2014 - we paid them off within the year and have enjoyed almost 10 years of not having any car payments - the only cost being oil changes and a 1x break job Since we drive so few miles (both cars have 60,000 miles), we have very little cost associated with ownership of the vehicles
Comment from : CX A340

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
Comment from : Dario Gomez

kinda weird how I didnt even know what MSRP actually stood for although I knew what it meant lol all these years xD
Comment from : Drew

I like the lease car better but I don’t like that the dealer slid a thousand dollars in my lease agreement They changed my payment by 1400 without my knowledge The next time, I will not be fooled I like leasing my cars
Comment from : Bible Girl

Leasing is of course far better for those who want to manage cash flow companies for one
Comment from : Wen Gelder

It makes sense to lease BMWs, Mercedes, and any other high priced quickly depreciating cars Because by the time you are done paying the $100k price tag, it may only be worth $20k 😂
Comment from : Turbocharged Dude

One argument would be that the lease companies can buy a multitude of new lease cars at a fair discount,whereas I as a single customer can't price negotiate that well By the way, I for one do not own a private lease My Toyota Avensis Verso with 1AZ-FE from 2004 with over 150,000 miles is still running well without check engine lights
Comment from : Emile Van den Hoogen

To sum it up, Leasing isn’t stupid, it’s pretty damn good
Comment from : MarLo

STOP telling people what to do🤦🏻‍♂️🤦🏻‍♂️
Comment from : KK AND EV

Bro I had no idea that they leased cars out 💀 I thought it was JUST financing or buy outright
Comment from : Jake

I never understood why if I plan to buy the vehicle after the lease ends my lease payments aren’t building equity in the car the same way as financing it? What’s the difference between a lease and financing if I plan to buy it out? I might as well lease it for the lower monthly payments, no? Anyone?
Comment from : E Deutsch

Payments payments payments No thanks
Comment from : Buzzed

People should rent their piece of crap cars Buying is a losing proposition!👍
Comment from : Bob

You said leasing a Mercedes was a good idea, and now you're saying leasing a car is stupid?
Comment from : 打倒摄图日记

You are right Scotty leasing a car is definitely not good idea👍
Comment from : Gary Mcneil

Dave Ramsey calls it Fleasing and I agree I leased before and will never do it again
Comment from : Thullraven

Always buy Nobody is ever giving anything for free and complicated schemes are only there to hide additional credit costs
Comment from : rosomak

i know this is just 10 mins of b roll with scottys voice but dammit im invested
Comment from : Duelist Wave

I get tired of cars after a few years Continuously rolled over more and more negative equity (high mileage driver) until one day I had to pay the piper and give up $8k in rolled over neg equity brbrLease gives me flexibility to choose to give it up or buy it out brbrPlus, netted $4k off my last 4Runner lease (due to equity GAINED over the last three years) brbrMight never go back to a non-lease purchase ever again
Comment from : Brent Shelton

What about the big tax credits for leasing all electric vehicles ?? Do your research people
Comment from : Coach Leon

None of this mess would be a problem in the first place if things were affordable
Comment from : God [7OD] Taxation is Theft do not pay the Mafia

Buy!!!! And prefer to buy pre owned! Keep til wheels fall off
Comment from : Maria A

Scotty doesn't like lease because he is a mechanic
Comment from : Ash Arista

My parents were smart and warned me about it so I stayed away plus I like to own the car and not give rich banks more money
Comment from : Zap Rowsdower212

I guess that is why I've made over $15k the last three years leasing vehicles right?
Comment from : Nick Vin

I have leased for years With technology changing at a rapid rate, I don't want to take a chance in buying something that isn't going to last a long time If he vehicle is a lemon, they will get it back in a few years I call it my maintenance coverage paid "up front" plan My lease vehicles have never been "upside down" In fact, I use the difference as down on a newer model Of course, this assumes you bought the right vehicle in the first place My wife's CRV was purchased 2020 for $36,000 Now 3 years latter that same car is worth $30,000 9,000 miles, Touring model She is buying it for $21,00000
Comment from : David Hanson

Car leasing is good for someone is reach
Comment from : Tokyo Homes

Car depreciates, no matter what the market is, so building equity is a useless point
Comment from : houchi69

I guess that the only real benefit to lease is if you have a profitable business that you can right off the lease as a business expense and don't have to put out all the capital to buy a car while in a low interest rate environment
Comment from : O Z

It’s not stupid brLeasing is good for those who always want to drive brand new cars and not want to keep it after warranty expires brI myself get bored after three years
Comment from : FutbolPro101

When interest rates are low you can lease for almost nothing When they are high like right now, leasing is likely not what you are looking for
Comment from : mrvoyagerm

Good video
Comment from : Yaacov

I want nothing to do with local mechanics And i also have zero interest in becoming mechanically literate So leasing is the best move for me I'd rather jump into an active volcano than deal with an auto mechanic nonstop for the rest of my life
Comment from : Battle Axe82

Down payments on a lease: They do not reduce the basis on which the lease cost is based on Therefore the total cost of the lease is the same, but the downpayment helps cover the cost of the total payment, spread out over each month You're essentially giving the lessor a free loan In contrast, a down payment on a financed purchase does reduce the basis for the interest cost (ie: loan size) and will therefore save on total costs
Comment from : Sholtheim Reinbach III

Is it better to lease a Lexus or finance it?
Comment from : Abhishek Nauduri

Sounds like more car manufacturers are decreasing car longevity by using more plastic parts these days These parts typically fail just outside the warranty Sounds like leasing on a poor quality build might be the better route
Comment from : Chris Collins

I made 4,200 by buying my lease, so it,s not stupid to lease a car
Comment from : Kenisa

My mom leases a car and did a reverse mortgage Some people you just cant reach
Comment from : Nikto

Today I learnt something new, like every other video Scotty makes These are soo informative
Comment from : EliteCoder

so if you arent going to use it for edge cases (like using it for uber) and dealing with scammy providers (seems like this is much more of the in USA than say UK), it removes quite a lot of the negatives
Comment from : Tiaan Kruger

I like european cars and I would rather lease than deal with out of warranty dramas
Comment from : Cooking Section

I need a car for personal use, not business use, so I definitely prefer to buy outright My first car was an ‘02 Honda Civic LX I bought for $16K Drove it for 18 years It was very reliable and cheap to maintain I paid off the loan early and drove it for 14 years with no payment Just bought a brand new 2023 Honda Civic Touring for cash No car payments! 🥳 I plan on driving it for 12-15 years
Comment from : Michelle Nightengale

Scotty you can't make a blanket statement of which is betterbrDepends on wants & needsbrI have a 2006 Ford Taurus 160,000 miles I'm retired, now drive just a few thousand miles a year and don't need to have a new car brMy wife was driving a "fun" VW bug convertible but was tired of having to take it to the shop and I was tired of hearing about itbrNew car, lease v ownershipbrPeople make the mistake of , "Oh, if I lease I can get a more expensive car for "the same price" (monthly payment)brThe key is IF you want to keep a new car - with no maintenance costs or headaches - lease the same car for less than you would buy it forbrDealership doesn't care, they are selling the car to the lease company instead of selling it to the finance companybrOwnership people - who don't understand - will say, "You don't build "equity" with a leasebrThe only way you build equity in a depreciating asset is to pay more each month than the car depreciatesbrAnd actually, same as a purchase, you CAN build equity in a lease Just as if you bought/financed a car with minimal down payment, what's it worth compared to the payoff?brI called a dealer in 2021, 6 months left on the lease but of course the used car market was hotbrMy original dealer told me I'd have to come up with additional "Cap Reduction" or my lease would go upbrCalled another dealer about 100 miles away Over the phone, told him my mileage The value of the car was high enough, the dealer "paid off" the leasing company and reduced the Cap Cost - think purchase price - by $1500 We drove to the dealer, swapped keys and got a new vehicle with a smaller monthly payment than beforebrBTW - now my wife's lease has about 8 month's to go We just talked about it With used car prices going up, it may make sense to buy the "old" one for me to drive - the purchase price was set 2 years ago - and we'll just lease her a new model
Comment from : Bamaboompa

I’ve bought and leased The convenience in leasing for me is that I don’t have to rely that a scumbag dealer rewound the miles on my used vehicle maybe twice or the car had major frame damage that the dealer patched up Both have happened I will only buy new from now on as you just can no longer trust dealers
Comment from : Nurse Jose

Do you get your down payment back after you return the car? If not, what's the point of paying a down payment? A couple measly dollars off the monthly payment?
Comment from : Mark Thompson

I didn’t get people that brag about their leased cars It’s like showing off a rental from Hertz to your friends
Comment from : Robocop

Leasing is only good if its's for business not personal - It's throwing away money just finance a vehicle save a lot of headaches and I worked at a leasing company years ago
Comment from : AMERICAN KING

You absolutely can build equity in a leased vehicle I sold my VW atlas for 6k profit, my Acura MDX for $1800 profit and My current Acura RDX has about 7500 in equity compared to my buyout price If your miles are low and car is in good shape you can come out ahead by selling your lease back to the dealer or a place like carmax if your leasing company allows it So don't just give your car back before checking the value of it You may be throwing free $$ away
Comment from : Jeff Wheeler

Question: brIf I was to buy a used car from a dealership, how will I know if it was a formerly leased vehicle? brWould the dealership disclose that information?
Comment from : Al

A coworker just told me his wife's lease was up and the value of the car went up by $10k so now instead of buying it outright for the other $15,000 as promised they now paid $22,000 😮😮😮 They really f***ed them over man Crazy!!!
Comment from : Sdr Jr