Buy or Lease?

cheerful1_gwMay 22, 2006

We usually buy our cars, but I like the idea of low lease payments, and having the ability to get a new car every three years or so.

What is your preference, and why?

Thanks.

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steve_o

I bought, and prefer to buy. I figure after a couple-three years I have no more car payments, but I have a car which should be good for many more years. If I had a lease payment I'd have to turn in the car and get another one (and a new lease payment). I also can make changes I want to the car without worrying about what someone else will think about the new car stereo or the dent that someone else's car gave me but that wasn't a big enough deal to spend $$ on to fix.

    Bookmark   May 22, 2006 at 9:52AM
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christopherh

I agree with Steve.
We buy to keep the car. And after a few years the truck is paid off.
But if you want to trade every few years, you still can do it. Just make sure the car is kept in immacualte condition, repair any and all dings, dents, scratches, don't drive it more than 25 miles a day, and it'll be just like leasing!

    Bookmark   May 23, 2006 at 7:49AM
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sharon620

I would too buy. We just leased our Cherokee and it is not worth the worry of upkeeping it. While we do like to keep our cars at thier best,this puts too much pressure on you.

    Bookmark   May 24, 2006 at 10:24PM
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johndeere

Sort of like renting a house.You never get anywhere.But if you really want a new car every 3 years.I guess its OK but you take the same beating just like trading it in.

    Bookmark   May 25, 2006 at 9:53AM
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jemdandy

The one instance that I can think for a lease is for business purposes. If you are buying a car for a business, the lease cost is deductible for tax purposes, and someone else will be performing the maintence labor. Also, you will be renewing the auto every 3 years or so. In other words when leasing, you are renting the use of an automobile and its maintence. If you purchased the car, its full cost can not be deducted in any one year for tax purposes; the deductible amount per year is defined by the tax codes.

But most of us on this forum are purchasing our vehicles and putting enough miles on them to 'use them up'. We can't justify spending $25,000 to $40,000 every three years for a car, and some of us have a hard time to come up with $20,000 every three years. That's why this forum exists: We ask a lot of questions about problems and pass out much advice. However, the quality of the advice must be determined by the reader.

    Bookmark   May 26, 2006 at 3:29AM
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gary__

I always buy something and drive it till it about drops. I'd prefer to drive new cars all the time but have never been willing to pay that much for the privilage.

My brother leased a car several years ago. He said it's an ok way to go if you're going to trade cars every couple of years anyway. He only did it that one time as far as I know though.

    Bookmark   May 26, 2006 at 7:57AM
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bonebloodyidle

I looked at leasing but there was so much small print about vehicle condition and excess charges for things as anal as stone chips I walked away. Having a young family and a couple of dogs the stone chips would have been the least of my worries. So I save up and buy nearly new and keep it until the wheels drop off.

    Bookmark   February 23, 2013 at 9:11PM
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kushy28

I look to take for lease so that we can try all models and mostly we can use roughly also.Normally after 2 to 3 years any car will give trouble.So from my side better to go for lease.

    Bookmark   March 13, 2013 at 3:02AM
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billth

if you don't put more than 10000 a yr on. leasing is nice. wish I could lease but I put too many miles a yr on. I like the idea of a new car every two yrs, and always under warranty.

    Bookmark   April 13, 2013 at 11:01PM
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