Tagged With "Suze Orman"

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Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

Theodora ·
I'm not entirely sold. Curious to hear everyone's point of view on this.
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

socgirl ·
I have a cousin who does that. she leases cars. idk why. from what I understand you have to sign an agreement on keep up and how much mileage you have to have, then you have to have full coverage insurance. I personally have NEVER owned a car that is less than 10yo. however, I also buy good used cars. this way I don't have to have a car note, or full coverage insurance
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

marcdjones ·
I've have been leasing cars since 2011. At first, it was a good idea for me as I was not driving that much and I would be able to get a new car within 3 years but as my family work structure has changed, it does not fit me anymore. I definitely plan on bringing my current lease back next month and get a slightly used car (2015 or 2016). This should be more economical for me in the long run.
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

socgirl ·
I just said that I personally do not agree w/ leasing cars. I tend to feel that it's to expensive to lease. MarcDJones, I agree w/ you. my dad just bought my mama a new to us, new minivan. it's 6 years old
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

Moore Income ·
I have not personally leased a car and have always been told it is not the best idea. I am not entirely sure how exactly it works but from what it sounds like, if there are restrictions to how much you can drive it, it would be a terrible idea for me as my wife and I love to take road-trips and I also drive for delivery. (We put in over 1K miles this weekend alone!) So far, I have bought a used car from a private seller and paid cash and also bought a used car from a dealership on a loan and...
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

TinaS ·
Years ago I read that people lease cars so they can ensure they have a new card every five years or so. So essentially renting the car over time. I have heard about the bells and whistles that go with it though, so I don't know exactly how it works, but I know I couldn't do it.
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

Susan3 ·
I am a divorced and retired person who has been leasing a vehicle for some time. I do not think that it is a good financial move, however, for me it works. I do not put many miles on a vehicle and I enjoy driving a new car which I don't have to deal with maintenance. For these reasons it works for me.
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

Lauren Simpers ·
I've been in the car industry and can tell you there are many pros to leasing if you are the right candidate. I typically lease my vehicles because I enjoy always having the newest model that typically has the best fuel economy with all bells and whistles at a fraction of a traditional loan payment. I'm also not one to work on my vehicles or want to pay a mechanic so always being under warranty affords me the luxury of only putting gas in it and doing my regular oil changes. Leasing CAN be a...
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

socgirl ·
I personally feel that leases are not a good idea. In my family, I have a cousin who does that, but no one else. That cousin likes to always have a new car. However, for the average person, it's not a good idea. Think ab it this way. When you lease a car, the same way as buying a car and having a car note, you are required to have full insurance, that means that you are requiring a lot of extra expense and the average person is not capable of this.
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

Lauren Simpers ·
You are correct! A lease does require full coverage. I was raised that insurance is for the "I hope I never need it, but in the event I do.. I'm covered" mindset so whether I lease or not, I always carry full coverage. Keep in mind a lease payment on a car vs. the same car financed is roughly $100 less a month. What I was trying to get at on here was that, it was always frustrating when someone was a great candidate for a lease and would save more money, but was always told it was "bad" and...
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

socgirl ·
Okay. I wasn't aware that a lease payment was less than a car payment. I personally drive old cars and take care of them. for instance next week I've gotta go get the oil changed bc it's due. the first 4mos of the year, I did deliveries out of my car, but as it is 100 degrees here in the shade w/ the heat index, I personally have stopped doing deliveries
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

Lauren Simpers ·
Yes, they are considerably less. That said; owning a vehicle outright like you do and taking great care of it is a perfect example of someone who wouldn't benefit from a lease. It's all about finding out what's right for YOU!
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

lismox ·
My husband leased a truck a few months ago and I have to say I've really enjoyed having a backup camera and the noise that comes on when I'm drifting out of my lane.
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

KellyFromKeene ·
@lismox , I look forward to this in my next vehicle! I drove a rental that had the blind spot detector and thought that was the best invention.
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Re: Suze Orman says CAR LEASES are always a BAD financial move - do you agree?

Susan L. Miller ·
I leased my 2018 Ford CMax and it made great sense for me. I made a down payment of $1500 and my monthly payment is $287. I feel very safe and secure, and when the lease is up next year I may go ahead and buy the car, or turn it in and lease a newer model. I have excellent credit, and drive very low miles, and the payments work very well for me. I did my research before, and now I feel this is the only way I will get a car in the future. Again, it works for me!
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