Exactly, I was going to say that none of this exists in a vacuum. People have different needs, wants, and beyond that you’ll never know what you’ll get out of any car issues and maintenance-wise. I think it’s still an interesting thing to consider and think about. But there’s too many variables to make a meaningful discussion.
As the originator of the thread, my main hypothesis is more that leasing may still be a very strong option for specific areas of the country, but in much of the country it’s a much weaker value prop due to lack of deals.
The question you have to ask though is are the deals in those areas better due to lease only incentives by the manufacturers in those area, due to overall better incentives, or due to more aggressive dealers due to more competitive markets. Unless it is a lease only incentive in those markets, a higher lease cost would be countered by a higher purchase cost, meaning that yes, leasing is more expensive than other areas, but not compared to financing in the local market.
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This sounds less like a discussion topic and more like frustration of not being able to hack a deal. OP, hire a broker!
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This article is from April and half the assertions have been invalidated.
The average interest rate on new cars is above 6%, according to Edmunds. On used cars, the average is just below 9%.
Sigh… remember life before the yield curve showed us it’s double-jointed?
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You can shop further from home than your skateboard will take you.
I found the deal on our car 400+ miles away in Northern Virginia.
20,000 AA miles per person and a ~$40 Uber ride got us to the dealer.
A batch of Marriott points put us at a nearby Westin overnight, and we had a pleasant drive back the next day.
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What an incredibly thought provoking comment. A higher lease cost is more expensive than a lower lease cost. I never would have thought this. Thank you!
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This should be the closing argument on this thread.
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Fair enough
Happy to hire a broker if there are any that operate in NC, and can get a comparable deal to what’s achievable from other posters on LH, hadn’t yet seen deals posted from a broker that does operate in NC.
Deals are relative to region/volume among other factors. I can’t go asking for NC gas prices in CA.
Yup, thus the original proposal starting this thread, that leasing is becoming much less attractive in areas outside NY/NJ and SoCal. Seems to be a dead thread atp though.
Try staying on topic even in Off Ramp (where I moved it from Ask)
A car that sees regular road use an investment is not.
Bad use of AA miles
It was that or ~$320 in cash for two people to go nonstop on short notice.
Not exactly an aspirational 2*20,000-mile redemption, but as of this morning we have 1,080,635 AA miles left.
Yeah, at that point it doesn’t matter if it’s the best redemption ever - just not using cash is good enough:)
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I will happily quote and few of my dealers ship the car at your cost as well to anywhere in US.
Some dealers are not flexible and want the customer to sign in person but I do have dealers who will do the paperwork over fedex and ship the car to your door step.
I take $49 retainer to give a quote to out of area (NY/NJ) tri-state metro customers to weed out tire kickers.
You can get a quote from me and if you find a better deal yourself given in writing by another broker or dealer for a similar car, I will even refund you the $49 back.
I have had few people fly one way to EWR and driven cars back to FL/NC and few other states south of us.
The key is to pick a brand where incentives are national like BMW.
Also to justify added cost of shipping a 36 month lease on a 50k plus car usually makes sense.
You’re so funny and cool.
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The problem with used cars is that repairs can be unexpected and costly. A single multi-thousand dollar repair could negate any potential savings.