Are they just living in ferry land and desire more than they can stomach! Or maybe just supersizing everything (options and size) is making it all unaffordable! Personally every time I have been to the states, the cars look soo cheap.
lyonruge,
Feb 7, 4:27am
Leasing covers having a car, maintenance, etc, and you dont loose money on depreciation etc, its a good option, we do it here too. You just pay a monthly fee and get a new one in a year or two or three.
moosie_21,
Feb 7, 5:09am
Cars wear out twice as fast over in North America because of salt on roads (atleast in the northern states and Canadia).
franc123,
Feb 7, 5:13am
Because most of them don't want to be seen driving something thats out of date thats all, not much different to label clothing really.
foxdonut,
Feb 7, 5:15am
The same reason people have mortgages on houses, TV's on finance and credit cards.
mcscottwgtn,
Feb 7, 5:31am
Their was a tv program about a dealership in Las Vegas on Sky I think. Funny as. Everyone rolling over the balloon payment for a new motor.
2lo4ho,
Feb 7, 6:12am
i could pay off a new commodore worth $93000 dollars. Lose 30k in the first year from depreciation and 10k per year for the following years, not to mention the interest on the loan that ild be paying off (cos i dont have 90k for a new car) So, if we look at the 3 year term, thats 50k in 3 years (almost 8k every 6months) of depreciation. It makes sense to lease. and after that 3 years ill get another brand new car. mince
2lo4ho,
Feb 7, 6:18am
mince = good
richms,
Feb 7, 6:44am
Also you can write off the lease costs a lot easier than depreciation and then having to sort it out when you offload the car when its upgrade time.
hutchk,
Feb 7, 6:44am
I like mince too! The prime stuff though, not the ground up buttholes you get from the Bad Mutcher.
carkitter,
Feb 7, 6:50am
I was thinking something along the lines of favourable tax laws too.
dr.doolittle,
Feb 7, 6:58am
Funniest thing I've read for a while. A true LOL. Thanks.
rob_man,
Feb 7, 7:06am
Where's Ferry Land! is that Waiheke!
socram,
Feb 7, 7:25am
Leasing is also for those who want vehicles that depreciate faster than the IRD allows - and don't have any capital.Lease costs are tax claimable but own the car and it isa depreciating asset.Depreciation is now about 26% a year on the residual value, so a $50,000 car is worth peanuts after 5 years.Keep it 8 years and it really is worth nothing (according to the IRD).
I am really happy my 8 year old car isn't now costing $600+ a month to lease and is still like brand new, as the mileage is low.
pat56,
Feb 7, 7:29am
I believe even private owners get tax write off.
2lo4ho,
Feb 7, 8:08am
it was mint but mince rolls off the tounge easier
big.b-lil.c,
Feb 7, 9:46pm
i lease one of my trucks the cost of ownership over 5 years vs 5 year lease is almost nothing the reason i lease is instead of selling the truck for $100k after 5 years i have a extra $20k every year to spend on what i like
rsr72,
Feb 7, 10:32pm
And is why the US is in the financial crap, and why they caused the world banking system to collapse, and why they owe more money to China, and why our cafes are going broke.
elect70,
Feb 7, 11:04pm
They dont care what the car costs just the monthly payments . Cant be seen in last years model . They also lease their furniture & appliancesto be up to date . Often all through 1 financier . Lease vehicles goodin buiness if you have fleet of same make& dont want the hastle ofreg,wof. repair&depeciation . Ownership means nothing to yanks
blackdotlova,
Mar 24, 5:06pm
it's something a poof does when he walks so I've been told
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