| Posted By |
Message |
| Pages: [1] 2 |
beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
|
Opinions...Is it better to buy or lease a car??
I am in the market for a new car....wanted to weigh the pros and cons TIA
|
Posted 6/27/07 6:47 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
mcl916
my two loves
Member since 10/06 5133 total posts
Name:
Megan
|
Re: Opinions...Is it better to buy or lease a car??
Buy, I am in a lease right now and I am not happy about it. At least when you own a car you have something at the end.
|
| Posted 6/27/07 7:08 PM |
| |
|
CurlyQ
Member since 6/07 2024 total posts
Name:
|
Re: Opinions...Is it better to buy or lease a car??
Buying a car is the worst investment you can make with your money. As soon as you drive it off the lot the value decreases.
I bought a car straight out of college. 3 years later it didn't fit my needs. I had to sell it (which was a terrible experience) and sold it for $10,000 less than what I bought it for 3 years prior. I even only had 18,000 miles on it. So for 3 years it cost me $10,000 to drive the car. A less would have cost me a lot less.
You have to also think about your needs? Do you drive about 12,000 miles or less a year? Do you see yourself getting a new car every 3 years? Do you mind always having a car payment? Do you take good care of your car? Lease payments are smaller, but you walk away with nothing.
There are so many things to consider. I personally lease. My Dh buys. I have also never had a problem returning my leases. If you do lease do not put down a lot of money.
|
| Posted 6/27/07 7:17 PM |
| |
|
steph4777
**************
Member since 5/05 11726 total posts
Name:
Stephanie
|
Re: Opinions...Is it better to buy or lease a car??
Definitely a matter of preference... if having a new car every 3 yrs is important then I'd say a lease.
It also depends on your driving habits, I think with a lease you are only allowed a certain amount of miles/yr before you have to pay extra when you turn it in.
Also you have to think about if you don't mind having a car note indefinitely.
Message edited 6/27/2007 7:19:16 PM.
|
| Posted 6/27/07 7:18 PM |
| |
|
Jessica
I'm a mommy :)
Member since 1/06 7322 total posts
Name:
~Jess~
|
Re: Opinions...Is it better to buy or lease a car??
depends what type of person you are
if you're going to want to keep a car for more than 3-4 years, finace bc after 5 its all paid off for
but my fh will always lease rom now on bc even when he financed, he got sick of a car after 2 years
i plan on leasing my next car and from then on
i cant see myself in the future with an "old" car
finance
you need to invest in doing repairs and such after a few years
lease
just keep up on your maintenance
Message edited 6/27/2007 7:22:04 PM.
|
| Posted 6/27/07 7:21 PM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: Opinions...Is it better to buy or lease a car??
Posted by CurlyQ
Buying a car is the worst investment you can make with your money. As soon as you drive it off the lot the value decreases.
\
A NEW car that is. Slightly used cars are actually a better investment... (Though honestly I bought both of my last 2 cars brand new) At the end of your lease payments, you have nothing to show for it. At the end of your car payments, you still have some value left in the car -- not what you paid, but there is value left.
Buying is a better option for me, though it's a matter of preference. Both have pros and cons With leasing, you are only paying to be able to drive the car for a while and you always have a car payment.
Yes, your car will depreciate in value while you own it, but at least you have some value left -- with a lease you have nothing to show for your payments at the end.
That said, many people still prefer leasing, and I do think it's a matter of choice... especially if you want to drive a new car every 3 years or so.
At the same time, one of our cars (a Honda) is paid off, and we'll probably drive that car 5 more years until we have to get rid of it -- with no car payment. The other car is only a few months old, so we still have a payment on that for another few years.
Message edited 6/27/2007 7:23:22 PM.
|
| Posted 6/27/07 7:22 PM |
| |
|
meghanmetz
LIF Adolescent
Member since 5/05 525 total posts
Name:
Meghan
|
Re: Opinions...Is it better to buy or lease a car??
Personally, not a fan of the lease from a financial perspective. I CAN NOT wait for my husbands lease to be up, we will never lease again.
As it is, we spend most of the time driving the car we own because we dont want the miles to get too high on the car we leased. It's ridiculous.
Financially, you're always better off buying a used car, unless you have decided that a car payment is just another payment that you'll always have, which in my opinion is silly, and leasing might be better. But to each their own.
Message edited 6/27/2007 7:31:41 PM.
|
| Posted 6/27/07 7:25 PM |
| |
|
Whamtastic
LIF Adult
Member since 1/07 997 total posts
Name:
Big Fat Baby with a Blackberry
|
Re: Opinions...Is it better to buy or lease a car??
Posted by Kara
Posted by CurlyQ
Buying a car is the worst investment you can make with your money. As soon as you drive it off the lot the value decreases.
\
A NEW car that is. Slightly used cars are actually a better investment... (Though honestly I bought both of my last 2 cars brand new) At the end of your lease payments, you have nothing to show for it. At the end of your car payments, you still have some value left in the car -- not what you paid, but there is value left.
Buying is a better option for me, though it's a matter of preference. Both have pros and cons With leasing, you are only paying to be able to drive the car for a while and you always have a car payment.
Yes, your car will depreciate in value while you own it, but at least you have some value left -- with a lease you have nothing to show for your payments at the end.
That said, many people still prefer leasing, and I do think it's a matter of choice... especially if you want to drive a new car every 3 years or so.
At the same time, one of our cars (a Honda) is paid off, and we'll probably drive that car 5 more years until we have to get rid of it -- with no car payment. The other car is only a few months old, so we still have a payment on that for another few years.
I bought my car previously owned - off a 3 year lease. It was still in really good condition, under warranty (because I bought it from a Toyota dealer) and paid in cash for it. I've had it for 6 years now and it'll probably last 6 more.
It's all about what's important to you. If you like having a newer model car and don't want to be driving something "old" in a few years, leasing is better. If you like having "your car" for a long time, buying might be a better option.
As for what works out better, price wise, consider how much you'd pay over the next X# of years in lease payments vs. how much you'd pay for your new or slightly used car, driven for the same amount of time.
|
| Posted 6/27/07 7:30 PM |
| |
|
codybear
Our Family is Complete!
Member since 11/06 2064 total posts
Name:
Christine
|
Re: Opinions...Is it better to buy or lease a car??
Posted by Whamtastic
It's all about what's important to you. If you like having a newer model car and don't want to be driving something "old" in a few years, leasing is better. If you like having "your car" for a long time, buying might be a better option.
ITA.
|
| Posted 6/27/07 7:35 PM |
| |
|
LBG30
:)
Member since 9/05 3423 total posts
Name:
Noelle
|
Re: Opinions...Is it better to buy or lease a car??
I have been leasing for years and love it-I like getting a new car every 3 years!
|
| Posted 6/27/07 7:36 PM |
| |
|
cazhley
I ♥ cheesiness.
Member since 1/07 1429 total posts
Name:
Cassie
|
Re: Opinions...Is it better to buy or lease a car??
It's a matter of preference, I think.
For me, I bought my car new and paid off the loan. I haven't had payments for 7 years, which I love. The car still runs beautifully and I pay just basic maintenance costs. If I were leasing all of the 7 years, the total would've been about 25K. If you'd like these pros, get a car/make that's reliable and has good ratings.
|
| Posted 6/27/07 7:42 PM |
| |
|
CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
|
Re: Opinions...Is it better to buy or lease a car??
I love leasing... lower payments... new car every 3 yrs... no huge maintenance costs... and did I mention new car every 3 yrs?
|
| Posted 6/27/07 7:45 PM |
| |
|
neenie
Member since 5/05 22351 total posts
Name:
|
Re: Opinions...Is it better to buy or lease a car??
depends on what you want. Yes, cars lose value, but the value we're getting out of ours is driving it for as long as it possibly suits our needs. we have no payments, so basically each additional month that we drive it, that cuts down what the 'per month' payment would have been.
but, you have to figure out what your priorities are in a car, what kind you want, and then compare the numbers.
i bought my sentra, but if i were to get a lexus or bmw next, i would probably lease. it really depends on so many things.
|
| Posted 6/27/07 7:52 PM |
| |
|
Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
|
Re: Opinions...Is it better to buy or lease a car??
I will never lease a car, I think in the long run you are paying more $$.
But if you get bored of a car easliy, then leasing would be the way to go.
|
| Posted 6/27/07 7:56 PM |
| |
|
beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
|
Re: Opinions...Is it better to buy or lease a car??
With leasing...what happens if something goes wrong with it???
|
| Posted 6/27/07 7:57 PM |
| |
|
BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
|
Re: Opinions...Is it better to buy or lease a car??
you fix it..if its not fix at the end of the term, they will bill you for it
|
| Posted 6/27/07 7:58 PM |
| |
|
Sweets13
Bella Bambini
Member since 5/05 9300 total posts
Name:
|
Re: Opinions...Is it better to buy or lease a car??
Posted by LBG30
I have been leasing for years and love it-I like getting a new car every 3 years!
me too!!!!!!!!! I get bored very quickly!
|
| Posted 6/27/07 7:59 PM |
| |
|
CurlyQ
Member since 6/07 2024 total posts
Name:
|
Re: Opinions...Is it better to buy or lease a car??
Posted by beautyq115
With leasing...what happens if something goes wrong with it???
For BMW everything is covered down to wipers, cup holders breaking, brakes, oil and the list can go on for the duration of the lease. You even get a car wash, coffee and snacks and a nice loaner. 
I think generally you are responsible for everything after a couple of months with other brands. I remember on my Jeep I had to pay for brakes because I was 1,000 miles over what the package covered.
Message edited 6/27/2007 8:05:14 PM.
|
| Posted 6/27/07 8:04 PM |
| |
|
browneyedgirl
family is all that matters
Member since 6/06 6513 total posts
Name:
browneyes
|
Re: Opinions...Is it better to buy or lease a car??
buy buy buy!!
i'll never lease again...yes, your car loses value when you drive off the lot, but with a lease, you have NOTHING after 3 years! at least when you buy you have an investment and can sell it for something to use as a down payment on another car
|
| Posted 6/27/07 10:08 PM |
| |
|
SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
|
Re: Opinions...Is it better to buy or lease a car??
here are the reasons why I buy:
- I don't want or need a new car every 3 yrs
- I HATE car payment (and I haven't had one in 5 yrs now)
- I don't want to feel like I am in a long term rental and that I have to watch every single mile I drive and every nick or scratch that the car may get
- I don't buy a car for an investment. I buy a car to get me from A to B and then back again.
|
| Posted 6/27/07 10:11 PM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Opinions...Is it better to buy or lease a car??
Posted by CaMacho
I love leasing... lower payments... new car every 3 yrs... no huge maintenance costs... and did I mention new car every 3 yrs?
I'm with you sista! Also, my payments are lower and I put no money down to get into my new car. From a cash flow perspective it works better. I take that money I would have to pay out initally and with each payment and use it for something else or stick it in my brokerage account or piss it away..whatever I feel like.
Message edited 6/28/2007 10:07:58 AM.
|
| Posted 6/28/07 9:56 AM |
| |
|
leese
Sarge!
Member since 5/05 1965 total posts
Name:
Leese
|
Re: Opinions...Is it better to buy or lease a car??
I was in the market for a new car a month ago and I struggled with leasing or buying.
I felt that buying a new car was too expensive for me but had concerns about leasing.
I ended up buying a slightly used car (22,000 miles) and am so glad I did. My payments are super affordable and I still feel like I am in a newer car (I never had CD player or remote car locks or a sunroof!). Best of all, if my financial outlook changes in the next few years, I can purchase a new (or newer) car. But, if I want to keep it, I feel like it was a good investment.
|
| Posted 6/28/07 10:01 AM |
| |
|
MrsBlueSash
Love my sailor
Member since 6/05 5793 total posts
Name:
Christian
|
Re: Opinions...Is it better to buy or lease a car??
IMO better to buy if you are going to drive a lot. Mileage and condition of the car will bite you in the end at the end. If you don't drive a lot and want to drive something that's costs more than you can afford to pay outright than a lease is good idea. Also a good idea to lease if you own your own business and will use it for work, a good write-off. I've had my car almost 8 years (this OCT will be 8) and haven't had a car payment in the last 5 years, I love that about buying. Buying allowed me to save a lot of money after my payments were done. If you have to have a new car every few years, than lease.
Message edited 6/28/2007 10:10:19 AM.
|
| Posted 6/28/07 10:01 AM |
| |
|
TreAnt427
-
Member since 8/06 8652 total posts
Name:
Tracy
|
Re: Opinions...Is it better to buy or lease a car??
Posted by SweetestOfPeas
here are the reasons why I buy:
- I don't want or need a new car every 3 yrs
- I HATE car payment (and I haven't had one in 5 yrs now)
- I don't want to feel like I am in a long term rental and that I have to watch every single mile I drive and every nick or scratch that the car may get
- I don't buy a car for an investment. I buy a car to get me from A to B and then back again.
ITA!!!
|
| Posted 6/28/07 10:04 AM |
| |
|
Emily
Kasey & Me! Lurves it!
Member since 7/06 8703 total posts
Name:
STBHC
|
Re: Opinions...Is it better to buy or lease a car??
I lease because not only do I enjoy a new car every 3 years but I drive from Bayside to Northwest Nassau everyday (and vice versa)...about 3-5 miles each way. I don't need the issues that come with owning, such as my a/c compressor died on tuesday...the hottest day ever. I take it to the dealer, magic happens and the a/c works and its all for free. When I inherited a car my dad bought and it completely died a year later, I was up sh*ts creek without a paddle. If it had been under lease then I would magically have a new car.
Message edited 6/28/2007 10:18:21 AM.
|
| Posted 6/28/07 10:17 AM |
| |
|
| Pages: [1] 2 |
