Quote:
Originally Posted by Oreganoflow
I don't understand it I'm hoping there's something good I'm missing out on?
Leasing (renting) the car is one thing, but throwing money at it in modifications only to take it all back off again and lose even more money makes zero sense to me. I've talked to a few people in the last few months and it's beginning to make me wonder.
The summary of conversations have gone kinda like this... "I lease my cars and pay only the depreciation instead of being stuck with it and eventually move on to another new car. (I get that part) Then the rub is to buy the parts at the best price possible and put them on my credit card. I sell them at the end of the lease for hopefully 60% of what I paid for them then it's like leasing the parts as well. All in all, I walk away with just paying for time for the parts and car."
I'd be curious to know the percentage of heads in here that do the same thing.
Can someone please explain this to me? Perhaps I'm doing it wrong in putting down a decent down payment to make my 60 financed payments affordable. I then pay with my Amex for points for any new mods and cash for any good used transactions.
Enlighten me...
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I've leased a lot of cars and modded them all. Then again, I've only returned one lease and it was my wife's. The rest I got a pay off quote and sold the car on craigslist for more than the payoff amount.
Yes, craigslist. I've paid for Autotrader and alike but they always seem to sell on CL. I thought it was weird too.
I normally sell them before the lease is up because I get bored easily and want to switch it up a lot. I also just enjoy modding like a hoby. I don't go crazy, just subtle mods that I can do on a Saturday or Sunday afternoon.