Buying vs. leasing a car

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07-29-2008, 11:40 AM

#11

timman19

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Quote:

Originally Posted by FlyJSH

Under Warrenty just means you are spending $300 a month to avoid spending $500 per year on mx.

New car every three years... oh, nevermind.

It's $200 a month. Which is not bad at all.

07-29-2008, 11:42 AM

#12

FDXLAG

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You can sleep in your car but you can't drive your 401k. I get less preaching in church.

07-29-2008, 11:51 AM

#13

timman19

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To each his own. I've bought used cars, new cars and leased. I prefer leasing. With the right terms, you can do well and I have done that so far.

07-29-2008, 03:29 PM

#14

III Corps

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Quote:

Originally Posted by threegreen

I am looking into getting a new car. Looking at 2007 and newer. Are there any benefits of leasing vs buying. I do not have cash to pay straight up for the car, regardless i would be making payments.

I have never read anywhere that leasing is a good option for an individual.

Why a new car? You will lose $X,000 immediately as soon as you drive it off the lot. You lose the use of the cash for X years. You pay higher rates for insurance because it is new. And if you take it to the airport, some dork is gonna nail it for you within the first few months.

Find a car coming off a lease. It will still be under warranty and the previous guy will have taken most of the bit hits on the losses.

07-29-2008, 06:11 PM

#15

Thedude

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A lease is a good deal if someone else is paying for it otherwise its throwing money down a hole.
I could see leasing a car if you had a buisness and needed the tax deduction otherwise don't do it.

07-29-2008, 10:35 PM

#16

ryguy

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You don't buy airplanes to be practical and the same goes for new cars. I lease....I like new cars....it works for me. Some people pay more for cigarettes and beer in a month than I do for my car. I barely drink and don't smoke so cars are my vice. If you can't afford it, then don't do it would be the only advice.

07-30-2008, 10:48 AM

#17

threegreen

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I drive hard, and i dont want to worry about mx. the thing about leasing that got me, is if you buy a new car it will depreciation rt away. so if i lease i dont want to worry about depreciation

07-30-2008, 11:24 AM

#18

rickair7777

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Quote:

Originally Posted by Thedude

A lease is a good deal if someone else is paying for it otherwise its throwing money down a hole.
I could see leasing a car if you had a buisness and needed the tax deduction otherwise don't do it.

This is probably good advice IF you tend to keep cars for ten years. In that case buy then buy a one-two year old vehicle with low mileage, pay it off in 3-5, then no car payments for years.

If you like new cars on a regular basis, or expect to need to change vehicle types based on lifestyle, then leasing makes sense.

07-30-2008, 12:13 PM

#19

sailingfun

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Its not hard to run the numbers. Every time I buy a car I take their best lease deal and best purchase deal. I work the numbers on both. I have never had leasing turn out better then buying however sometimes there are manufactures lease buy downs that can be good. Run the numbers and pick the cheaper option. One last thing. Beware of back end lease chargers. When you go to turn the car back in they can hit you with lots of penalties from door dings to worn tires. Read the fine print.

08-02-2008, 01:10 PM

#20

Led Zep

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If you desire to lease a vehicle then you will always have a car payment. If it were me, I would purchase something within my budget that is both reliable and something I would plan on keeping for a long time, possibly up to 10 years or more.

Just my humble opinion, but if someone does not plan on driving much I wouldn't purchase/lease something new and expensive for minimal amounts of driving. I would rather spend the least amount of cash (not credit) on something dependable and invest the rest of the money into something such as a home.