What do you guys recommend leasing over buying when coming to high end vehicles like Porsche, Mercedes, etc.
If someone is looking to switch up cars every year what do you recommend. If you get a good deal on a high end car you should be able to sell it for the same amount or take a little loss after a year.
What do you guys reccommend?
If you plan to switch up cars every year, either buy used where the major depreciation hit has occurred already or be super rich and be willing to take the hit.
I highly doubt you can buy a high end car and sell it for the same amount after 1 year unless it’s a super rare, high demand car. I would think you would take the biggest hits on high-end cars vs any other.
At like 3-4 years the depreciation should settle. So I figured buying a high end after year 3 and sell year 4 that depreciation shouldn’t be too high. Especially since this would be my second car.
I figured this would be cheaper then leasing a high end car especially since I’d be probably paying 40-50% of that depreciation that hits in the first three years.
buy a 4 yr old car, sell it in 1-2 years.
Meaning C, E or S class Mercedes?
On something like a 2014 E3504m you’re looking at 1yr ownership costs of around $5k in depreciation (plus the tax on the sales price).
I’m talking S Class types, or E63 or Porsche Panamara, Corvette Stingray, Tesla, Maserati etc.
S class is one of the highest depreciating cars built by Mercedes
You paying taxes and fees when you buy it. Plus when you sell it, i guarantee that dealer will not buy it back at price you think. Super rare cars if you able to get one, why sell it when it appreciates. So that small loss you think, it will be a big loss every year unless 10k is small loss to you.
To get a sense, look at 2013 and 2014 S550 on KBB, and you’ll see how much value they lose each year.
Honestly, from what I hear, book by Cadillac sounds like a great option for you. It’s pretty cheap ($1500/mo) including insurance and you get to switch cars up to 18 times a year.
About leasing or buying, I think it depends on your budget. If you have much money that can buy a Porsche or Mercedes, then buy it. But, if you think you can’t afford it, then choose to lease the car. In leasing and buying, there is an advantage and disadvantage and you need to know it here. https://www.edmunds.com/car-leasing/should-you-lease-or-buy-your-car.html.
About switching cars every year, I think it will depend on your wants or needs. Supposed we say that you want to get the new model of high end cars, therefore, if you will buy the car, then there is a less chance to find the possible buyer. While, if you are leasing the car, you can switch it to the new model as long as you are willing to pay for it. You should take note that every year, there is a price difference for every car. Thus, you need to be smart enough in knowing those great cars that you think could be like by many people.
Lastly, I recommend here the lists of high end cars that you can choose from, https://dsrleasing.com/car-listings/. I recommend them because they are trustworthy and easy to approach car leasing dealer. I hope I have give some great tips here.
Thanks for the advice guys. I mean I can afford to buy a luxury car cash but don’t want to spend my networth on a vehicle.
If I get a 3 year lease on let’s say a Mercedes S class for 1000$ (just rough estimate) then that’s 36k I’ll spend just on the payment. That’s $12k a year.
If I get a great deal on a 3-4 year old S Benz car and sell it year 4-5 then I’m pretty sure it won’t depreciate $12k a year.
I won’t be driving the newest car but I’d have the high end cars I enjoy driving.
Do you work for DSR Leasing? Every one of your posts seems to recommend them. If so, you need to disclose it or stop shilling for one company.
So you first asked for advise on switching cars on a yearly basis, now it’s 3 to 4 years?
Seriously, alll his post refers to DSR, who don’t even have good deals. They all have CCR and high monthly payments still.
I’ll do either option. Trade it out yearly or every couple of years. Whichever is more financially responsible.
I prefer yearly but I did the 3 year example just to compare it to a standard 3 year lease.
Maybe you should be looking at Chevy Cruze If your net worth is about $100-120K?
sometimes people have low net worths buy high salaries. With that said, one will be better off in the long run putting away a good nest egg than having a chick car.
High salary may disappear at any moment. I agree with the second part, though
agreed, hence why my second part 