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DrMeg
Back home!
Member since 5/08 1858 total posts
Name:
Meg
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Re: Lease a vehicle or finance/buy poll
DH and I are currently leasing both of our cars. We have been leasing for me for a while. I don't drive that much (3 mile commute to work). I like a new car every few years and was always upside down when trying to trade in a car I financed.
DH recently leased because he was between 2 different cars one he would lease and one he would buy. When he factored in all of the maintenance etc for the financed car he would have had to keep it for something like over 10 years for it to be as cost effective as the lease. He got a $20k more expensive car as a lease and we are laying out significantly less money.
Both of our cars are also BMWs which cover maintenance (oil changes, tune ups, wiper blades, even brakes) for 3 years (length of the lease). So basically we make our monthly payment every month and that is it.
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Posted 6/5/14 10:36 AM  |
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eroxgirl
My Loves
Member since 5/05 15697 total posts
Name:
Rebecca
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Re: Lease a vehicle or finance/buy poll
Posted by NervousNell
I buy. I feel like with leasing you are spending all this money and have nothing to show for it at the end
I like buying a car, paying it off after a few years, and then not having a car payment for a while.
I don't need a new car every 3 years.
I like to drive them into the ground.
DH is also excellent at maintaining and fixing our cars so mechanic costs are very minimal for us.
All of this.
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| Posted 6/5/14 10:47 AM |
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Millie3
LIF Adult
Member since 7/13 1280 total posts
Name:
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Re: Lease a vehicle or finance/buy poll
First 2 cars we bought outright. The last we financed (0.9%) and paid off around 2 years. We have not had a car payment in 3.5 years, low maint costs as well. It's great not having any car payments
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| Posted 6/5/14 10:11 PM |
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Leb
LIF Adult
Member since 12/09 4166 total posts
Name:
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Lease a vehicle or finance/buy poll
I lease. I get a new car every 3 years. Any dents and dings I've never been charged for. It's like a long term rental. Cars depreciate thousands the second they're driven off the lot. I don't want to own one, I like getting a new one and never worrying about maintenance or new tires.
Furthermore my parents had a situation where they needed to give back their car before the lease was up for a health reason and the dealership was like stop! We don't need to hear the reason and took it back with 0 charge.
If you drive more than 12-15k per year then leasing probably isn't for you.
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| Posted 6/5/14 10:45 PM |
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2BadSoSad
LIF Adult
Member since 8/12 6791 total posts
Name:
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Re: Lease a vehicle or finance/buy poll
I was talking to my FIL who is a mechanic, and he said, depending on how "fully loaded" you get your car, to consider that. My new truck (lease) is ALL computerized and EVERYTHING is voice activated.....nav, radio, phone, climate, etc. With this, they are not usually covered by an extended warranty. So once your warranty is up, if anything electron/computerized goes on the fritz, it is REALLY expensive to fix.
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| Posted 6/5/14 10:57 PM |
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Re: Lease a vehicle or finance/buy poll
Posted by 2BadSoSad
I was talking to my FIL who is a mechanic, and he said, depending on how "fully loaded" you get your car, to consider that. My new truck (lease) is ALL computerized and EVERYTHING is voice activated.....nav, radio, phone, climate, etc. With this, they are not usually covered by an extended warranty. So once your warranty is up, if anything electron/computerized goes on the fritz, it is REALLY expensive to fix.
My mechanic also told me same, he also said a lot of the better lease deals are on newer model vehicles. It frequently doesn't pay to buy them outright until they've been on the market for awhile.
My first leased vehicle he said he had noticed many people having to bring it in for costly engine repairs around 70k miles and then the repairs didn't seem to stop from there. This was a newer model crossover.
He had stated that in terms of buying, one should go with a make and model that has been on the market for a long time. Usually there is better resale and you see less repair issues beyond basic wear and tear.
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| Posted 6/6/14 5:26 AM |
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BBD322x0
LIF Adolescent
Member since 3/14 703 total posts
Name:
Brittany
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Lease a vehicle or finance/buy poll
DH owns his car (as of April)...I honestly envy him because not having a car payment would be wonderful!
I like to lease only because I enjoy getting a new car when it's up. Also, it gives me a chance to see if I love the car enough after 3 years to purchase it once the lease is up which was a big thing for me. Through jeep, they literally cover everything - oil changes, inspections, any maintenance...I don't have to pay for anything. To me, the security of knowing all of that is covered is nice. Down the road I might feel differently but right now I think I went with the right choice for me.
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| Posted 6/6/14 2:55 PM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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Lease a vehicle or finance/buy poll
i've only leased 1 car. Toyota did not pay for regular maintenance, and anything else doesn't really go bad in a few years
I leased for 5 years. but bought out in 4, then traded in after another couple years and was not Upside down!! first time ever :) FJ cruiser had good resale.
i cannot stay under 12 or even 15K mi a year. i only drive 20 miles to work so this doesnt really make sense to me, but it's proven. I guess because I go a few other places a year, maybe a small trip and work every 4th saturday and barely take vacation time. Who knows!
At 2% or less rates , buy buy buy!
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| Posted 6/6/14 3:10 PM |
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Bridex100
Two Under Two Mommy
Member since 3/08 10420 total posts
Name:
Momx100
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Re: Lease a vehicle or finance/buy poll
I am currently leasing my first car and love it. I hate maintenance. Don't even like getting the oil changed. Can't stand when things start breaking down.
All cars start needing things fixed and replaced by the 5 year mark. I like that I will be driving a brand new car by then.
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| Posted 6/6/14 9:32 PM |
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