Leasing Vs Buying A Car – Dave Ramsey

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50 replies
  1. MotorcityFord313
    MotorcityFord313 says:

    Here is a lil fun fact. The picture to the left of this text with that 2003 f150. I boughtthis truck 10 years ago for 5800 dollars. Bought it cash it had 83,000 miles. I am still driving this as my daily driver 204,000 miles later. On average I have a annual maintenance cost of 550-600 a year . I do most all the maintenance work myself. Even if you took the truck to the shop for the work that annual maintenance cost would maybe be 800-1000. Which for the whole year is not bad at all.

  2. Amrendra Thakur
    Amrendra Thakur says:

    So someone please correct me if I am wrong!
    You buy a good used car in cash. You keep doing this till you save up to buy your "it" car. You never finance or lease a car.

    Is my understanding correct?

  3. Kevin Files
    Kevin Files says:

    This is terrible advice omg. Take the money you’ve saved and put it into a depreciating liability instead of myself or. My business or investments. Thank god I know where good advice is and I can filter the good from the bad.

  4. Chris Vazquez
    Chris Vazquez says:

    One big thing people don’t factor in about leasing is that it protects you from depreciation due to accidents. If you own the car, you live with the lower value after an accident. If you lease, as long as it gets repaired to factory standards, you give them the keys at the end and walk away. Underrated bonus.

  5. Concept LA
    Concept LA says:

    This has to be the worst advice I’ve ever heard.. he’s telling him to spend more than HALF of his savings to buy a USED car, putting his emergency money in a depreciating asset/liability that will lose half of its value next 3 years when he can lease a BRAND new car for same 3 years and spend less than $200 a month keeping $25k in his savings. MIND-BLOWN

  6. adammperez
    adammperez says:

    14%? I don’t think so. BMW is leases are like 3.5% and inflated residual values.

    Buying a BMW and selling after 3 years would lose you like 15-20% compared to leasing for 3 years.

  7. Beau Bernier
    Beau Bernier says:

    I wanted to buy a new Jeep. I had 4k saved at the time. They were running a deal, 3k off window price if you lease. I entered into a 36 month lease with essentially a 0% interest rate. I made the lease payment and saved $500/mo for 36 months. The money was stored in a high interest savings account. At the conclusion of the lease I purchased the Jeep outright using the saved cash, with only a $200 fee attached to the purchase. I made $800 interest over those 36 months, and the Jeep cost 3k less. The only reason I leased is because I asked "how much."

  8. Raphy Martinez
    Raphy Martinez says:

    No, you shouldn’t lease a car. But no,. It is NOT 14% interest. Unless you’re leasing a car with no special money factor which is just extra dumb. I sold many cars in a lease when I was in car sales at a money factor of 0.0001, that’s about 0.24% in interest rate when converted. Add in the acquisition fee of $595 and the dispo fee of $300 and it’s never touching anything close to 14%. But again,,, leasing is till stupid as heck

  9. benz806
    benz806 says:

    Whoever doesn't buy a car with cash in full is a sucker. Stop getting ripped off from mechanics and learn how to do basic maintenance on your car and save thousands, it's not that hard.

  10. Shoe Gazer
    Shoe Gazer says:

    I only buy my trucks new, I see way to many people in my line of work with older trucks spend about 750-1500 a month in repairs. Also trucks don’t depreciate like cars. About to get rid of my truck 2018 truck, only lost about 1500 bucks of depreciation on it 2 years.

  11. Robert Simon
    Robert Simon says:

    for business owners /small big write off maybe good idea …let say for example : If your lease is $400 a month and you use it 50 percent for business, you may deduct $2,400 ($200 x 12 months).

  12. jfish147
    jfish147 says:

    CALLER: If you read this, you should start a side hustle business. Lease the $200 a month car. Expense the $2,400 a year. Keep that $25,000 in a high interest savings like AMEX personal savings or ally or wealthfront. Forget what dave ramsey says man. NEVER OWN DEPRECIATING ASSETS…. LEASE THEM

  13. Free Wifi
    Free Wifi says:

    Can never agreed with Dave on leases. $200 *36 months = $7,200. Let’s say $500 in fees and add in his crazy mixed up world of taxes 14% which is completely false. The money he has left he could easily invest and have double in 36 months. Still don’t understand why more people aren’t leasing. 🤦🏾‍♂️

  14. ordinaryJeff
    ordinaryJeff says:

    I'm always looking at new/newer cars, and my main question is always "How much?" I'm too cheap to ever get it though. Still rolling in the 89 firebird with 350k miles I bought 21 years ago.

  15. Bigtruckseriesreview Motorsports
    Bigtruckseriesreview Motorsports says:

    Leasing makes sense for many people.

    Especially the rich.

    Some people want the experience of certain cars but don’t wanna get stuck with long-term maintenance and repairs.

    I have leased 2 Cadillacs after financing one.

    You don’t wanna get stuck paying on an OLD Cadillac.

  16. Birdup4life
    Birdup4life says:

    There's Apps out on the web that will show what one can make investing $509 a month(The average US car payment) that'll make one change thier mind hopefully about financing a car.

  17. Dave Avemian
    Dave Avemian says:

    I sell cars for a living. Dave's information is complete and utter nonsense. The interest rate on leases is typically around 1-4%. a 200 dollar lease doesn't have 14% interest.

  18. The Cronozer
    The Cronozer says:

    My leased car was borderline totaled in one of the two significant accidents and a minor one I was involved in during the lease. I also got the feeling toward the end of the lease that even though it was supposedly fixed good as new each time, the ride just really wasn’t feeling the same. Given that relatively new cars with long accident records can be a hard sell, is there any truth to when people tell me I made out good leasing?

  19. Jessie Harbin Jr.’s Dashcam
    Jessie Harbin Jr.’s Dashcam says:

    My cousin leased a brand new 1995 Toyota Camry for three years. By the time she was done paying for the car, they wanted to charge her an additional $3000 in penalty fees, or a balloon payment of $18,000 on top of the money she already put into the lease payments. After witnessing what she went through all those years ago, I can only imagine it’s gotten worse.

  20. yesorlando05
    yesorlando05 says:

    I am really glad this guy called Dave, but I just don't get him. He's 30 and makes $125k. Yet his parents are paying his student loans and he's dead-set on leasing a car. That just flabbergasts me! There's just something about being independent from your parents and paying your own debts that makes you feel like an accomplished adult; ESPECIALLY making anywhere close to that kind of money. He should finish paying off his own college debts and pay cash for the car. You can get a really nice, reliable used car for $15k.


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