Once my 14 year old Toyota Corolla Altis finally gives up the ghost, I think I might consider leasing. Seems like less hassle and cheaper with longer contracts.
Leases in Taiwan are nothing short of financial rape.
That per km rate is quite the OUCH. But depends what you are doing. 10k km. In a month would hurt, but depends how much you drive. We ended up going to banks, getting loans, because the leasing system here is rigged to REALLY gouge the customer (check the insurance systems they require, thats a big one). I would rather buy a 2nd hand and dump it at the end. we drive a LOT. So it’s worth it that way.
Leasing is paying for a privilege. Car breaks down, we return it for a new one. We don’t like it, we terminate the lease after 6 months. We decide to buy a car, we don’t renew the lease.
We do not. If we need to go north, we take the train.
Those are key points. If you drive lots, a loan from the bank is far better, at least for now while interest is so low. Leases are basically rental contracts in Taiwan. Great for breakdowns, ok. But those shouldn’t happen much with new cars anyway. So a mute point. The bigger thing is that they require you use their insurance cooperations at VERY high prices, it’s a bit of a scam in my opinion. Buying a car vs leasing a car, when we were buying 2 years ago, was about 40% more on the sticker price to lease. Mostly due to their conditions to use their 3rd party cooperations. When one considers an actual purchase, one also has a warranty…we have paid for oil changes and tires. Everything else covered on warranty. And we didnt end up giveing them extra hundreds of thousands of dollars
The other reality is if buying new and reelling, you lose big time. But buying used new cars it makes sense again.
Worth looking at the numbers, either way. Every dealer has their own racket going, so it’s worth shopping around
No, that’s just because he didnt own it if a lease. Short term, no resale value etc. He can sue and play that game if he is actually in the right. Anyway. Vastly different scenarios at play pros and cons on both sides. Just be real about your own personal situation. Lease = much more expensive. But there are obviously valid reasons to do so, for example a year lease is cheaper than a day lease (rental).
Yes, of course. There are half dozen other things I haven’t mentioned in our scenario that make leasing the better option. One being that we don’t drive much these days so the mileage bite is negligible.
Anyway, I’m sure the casual reader of this thread has now heard enough from both sides. I’ll throw up a picture when we pick up the new lease.
I guess it would be less of an issue to get a bank loan, and full coverage (I think if you bank loan a car, they require this). I’m not sure he has the fiances to get such a loan though.
Me personally if I ever need/want a car I’ll just uber everywhere. MRT is convenient enough that you really don’t need to be driving in Taipei unless you either need it for work (trades and stuff), or just want to show off.
I think it will take some serious doing to spend more than 10,000nt a month on uber here.
Most people who have the means to buy/lease a car tend to use it for more than a shuttle to get to work. The MRT won’t get you to the beach, or the mountains or thousands of other places.
Uber would be way more expensive and you’d need another one to get back.
And you think that’s showing off? You really think people are leasing Nissan Lativas to brag? Your world view is like looking through the cardboard tube found in the middle of a roll of paper towels at times.
I get disillusioned over all the idiots driving their BMW, constantly ignoring traffic rules and parking wherever they damn well please with minimal consequence.
How often do you go to the beach anyways? In that case it’s probably better to rent a car for a couple of days rather than buy/lease one.