Re: Spinoff..Cars - Lease or Buy? (poll)

i voted buy but we both finance. dh used to lease his cars b/c he liked getting a new one every few years. my car is now paid off and we will most likely be buying a "family" car in a few months.

dh only needs his car for back and forth to the train station, so he will keep what he has until it dies.

Re: Spinoff..Cars - Lease or Buy? (poll)

I drive too many miles to lease a car....

Re: Spinoff..Cars - Lease or Buy? (poll)

I leased 2 cars and would never do it again. I like getting a new car every 3-4 years but I don't like the fact that I need to find money every few years to put down on a new car. I was putting $3,000 down so I could get a lower payment.

Re: Spinoff..Cars - Lease or Buy? (poll)

Re: Spinoff..Cars - Lease or Buy? (poll)

I often debate this myself... But this analysis done by Edmunds.com shows that buying a car is the way to go... I guess it can vary though depending on the downpayment and lease payments.


Edmunds.com article Leasing vs Buying

Re: Spinoff..Cars - Lease or Buy? (poll)

We lease, because we like a new car every few years. At some point I'd like to buy, but only when we can afford a really nice car.

Re: Spinoff..Cars - Lease or Buy? (poll)

We only buy. We leased a car once but that was because we knew it wouldn't be practical when we had a baby.

Re: Spinoff..Cars - Lease or Buy? (poll)

Message edited 6/6/2007 2:29:14 PM.

Re: Spinoff..Cars - Lease or Buy? (poll)

Posted by ~Colleen~

Posted by MrsNYPDsGirl

I often debate this myself... But this analysis done by Edmunds.com shows that buying a car is the way to go... I guess it can vary though depending on the downpayment and lease payments.


Edmunds.com article Leasing vs Buying

Interesting article. This partially sums up why we buy instead of leasing. (I have other opinions on leases, but to avoid "drama" I will keep those opinions to myself )

We've estimated that the person who bought a new car will have a car worth $7,000 after five years. The person who bought a used car for $10,000 will have a car worth $2,000. The person who is leasing has no equity, and in another year, will have no car. If the value of the cars are figured back into the new and used-car buying formula, a different result is revealed.

Re: Spinoff..Cars - Lease or Buy? (poll)

Posted by Beth1210

Posted by ~Colleen~

Posted by MrsNYPDsGirl

I often debate this myself... But this analysis done by Edmunds.com shows that buying a car is the way to go... I guess it can vary though depending on the downpayment and lease payments.


Edmunds.com article Leasing vs Buying

Interesting article. This partially sums up why we buy instead of leasing. (I have other opinions on leases, but to avoid "drama" I will keep those opinions to myself )

We've estimated that the person who bought a new car will have a car worth $7,000 after five years. The person who bought a used car for $10,000 will have a car worth $2,000. The person who is leasing has no equity, and in another year, will have no car. If the value of the cars are figured back into the new and used-car buying formula, a different result is revealed.

if you want to really be smart- you would never buy a new car- most experts agree that you should buy a 2 or 3 year old b/c that is when the most deprication happens

I know leasing isn't the best idea- but for me, right now- it is- b/c I pay about $300 less a month then it would cost to buy my car- and based on what an oil change costs- I don't know what to know what a serious repair bill would be

sure- I don't need to drive the car I drive- but you only live once- and I don't allow myself many luxaries anymore- this is really my last one- so I am going to enjoy it now- and maybe in the future if things change- I would buy a used car instead- but right now- I would eat ramen noddle everynight to keep my baby!

Re: Spinoff..Cars - Lease or Buy? (poll)

!

I bought certified pre-owned...DH bought new and with his new car he got free oil changes and various other free maintenance services for 4 years (or 50k miles). That perk was part of the reason he bought the car.

Actually, if you read what I quoted, it pays to buy new...in the end you will get more money back when you sell it and thus have more money down for another car. Whereas the used car will be less (thoug you might have shelled out less for it initially than the new car) and if you leased, well, you have no equity thus no car. The full article laid it all out nicely.


most books I read recently- including total money makeover- say to buy used

and not to lease- it's the one rule I am not following

I'm sure it's a great article- I am not going to read it b/c edmunds doesn't give finacial advice- they give car advice
(Edmunds car buying guide lists new car prices, used car prices, car comparisons, car buying advice, car ratings, car values, auto leasing)

so I would rather get finacial advice- from a finacial advisor- not a car saleman

Re: Spinoff..Cars - Lease or Buy? (poll)

Message edited 6/6/2007 3:26:05 PM.

Re: Spinoff..Cars - Lease or Buy? (poll)

In a lease scenario, if I took the difference in payments buy vs lease using the same scenario, then in 36 months I would have approx the same amt left. And, if I invested it at say 5% over three years I would have more.

These are nebulous numbers. I would rather take the difference in the payment and put the money somewhere else. Use the money for something else besides the car. I guess that's why leasing suits us. I put nothing down usually.

Also, just my opinion..whatever suits you personally is the best.

Re: Spinoff..Cars - Lease or Buy? (poll)

Posted by ~Colleen~

Posted by Beth1210
so I would rather get finacial advice- from a finacial advisor- not a car saleman

But by your own admission, you're not taking their great advice anyway

I tend to agree with buying cert. pre-owned over new especially if you don't plan on selling for a while. That said, there are a lot of benefits with buying new, especially when you get into the luxury car market. Not having to pay for oil changes or any other service visits for 4 years was a very nice benefit...especially when we see how much it all is now

Re: Spinoff..Cars - Lease or Buy? (poll)

Used to lease now we buy.