Home > Disappointed in Gail Vaz-Oxlade

Disappointed in Gail Vaz-Oxlade

September 19th, 2010 at 02:07 pm

I'm watching Til Debt Do Us Part & Gail just asked the couple to research the benefits of leasing a car.

I understand what she is trying to do - use leasing versus buying to get the cheapest payments possible to have them pay off their debt as quickly as possible.

However, she does NOT explain the the long term benefits/faults of leasing. Anyone watching this show is being led to believe that leasing is better because the payment is better 100% of the time.

What do you guys think? I'm a car buyer, not leaser. But I do understand that leasing has its benefits. I just feel its irresponsible to only give the benefits of one side for this one situation.

6 Responses to “Disappointed in Gail Vaz-Oxlade”

  1. Ima saver Says:

    I think leasing is a very bad thing to do. Clark Howard calls it "fleecing"

  2. Waterfall Says:

    I agree with you. Do you think she was trying to help them lower their payments in the short term to give them a chance to get out of the hole they dug themselves, and the car is a necessity rather than a luxury? Just a thought.

  3. Homebody Says:

    I saw that, but thought she did it to teach them a lesson, not to actually consider it, but I could be wrong.

  4. HouseHopeful Says:

    Ima - I think Dave Ramsey also uses that term. I think its appropriate Smile

    Waterfall - I do think she was trying to get their auto payment as low as possible to get them out of debt as soon as possible. But she didn't stress that leasing would be a short-term option or what to do after the debt is paid off.

    Homebody - When the met after their challenge, the couple talked about how great leasing is and she agreed it was the best solution for them. I hope she just meant short-term, but she definitely didn't clarify.

  5. Homebody Says:

    Maybe I have not seen that one yet. Leasing is a terrible idea in my opinion.

  6. campfrugal Says:

    I watched the episode and what I got out of it was, when they actually needed to purchase a car, they would have already done the dirty work and know that leasing is a cheaper alternative. She also mentioned that once their lease was up, they were to then purchase that car.

    It just gives them that extra two years to get out of debt with a smaller car payment first, before they actually buy it; and if they couldn't afford it when the lease was up, they were only committed to the payment for a couple years.

    For me, I have never leased. I have only bought one brand new vehicle and when I bought it, I paid cash for it. A total of $20,000. My other two vehicles I have had since I bought them. They were both four years old at the time. I drove the first one for 5 years, gave it to my husband and bought another one 4 years old and I am still driving it, going on 6 years. My husband's is a 1995 Jeep Grand Cherokee and mine is a 2001 Jeep Grand Cherokee; and we plan on keeping them until they are run into the ground. They are both paid for.

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