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post #1 of 10 (permalink) Old 08-12-2003, 10:07 PM Thread Starter
 
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buy or lease

any suggestions??
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post #2 of 10 (permalink) Old 08-12-2003, 10:37 PM
 
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I would say buy. I have never understood leasing. Pay for it nearly as much as if you were to buy it then give it back and get nothing. If anyone can let me know how this is being wise with money, please enlighten me.
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post #3 of 10 (permalink) Old 08-12-2003, 10:40 PM
 
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Depends what? I wouldn't buy an American car...
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post #4 of 10 (permalink) Old 08-12-2003, 10:50 PM
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Sellout!

Let me put it this way...

If the car you want is one you obviously cannot afford up front, lease.

Any other situation, buy.
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post #5 of 10 (permalink) Old 08-12-2003, 10:53 PM
 
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leasing is good if you want a new car every 2 years, don't care about ever owning it, and have some way of using the payments as a tax write off. also if you lease you have a lot of restrictions on what you can do to the car, and how many KM's you can put on it in a year(and you pay throught the nose if you go over)

Buying out right is better cause the car is yours in the end, you can do whatever to it. Generally the payment are lower than leasing, and no buyout in the end.
Just my opinion.
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post #6 of 10 (permalink) Old 08-12-2003, 10:56 PM
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Leasing used to have advantages, now only if you can deduct lease payment from taxes for buisness use, with the resale values what they are now for all vehicles it is better to buy.
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post #7 of 10 (permalink) Old 08-12-2003, 11:00 PM
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Quote:
Originally posted by BCintrepid
leasing is good if you want a new car every 2 years, don't care about ever owning it, and have some way of using the payments as a tax write off. also if you lease you have a lot of restrictions on what you can do to the car, and how many KM's you can put on it in a year(and you pay throught the nose if you go over)

Buying out right is better cause the car is yours in the end, you can do whatever to it. Generally the payment are lower than leasing, and no buyout in the end.
Just my opinion.
Lease payments are always lower then purchase payments because you are only paying for the difference between selling price and value at the end of the lease plus intrest.
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post #8 of 10 (permalink) Old 08-13-2003, 09:03 AM
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Quote:
Originally posted by BCintrepid
leasing is good if you want a new car every 2 years, don't care about ever owning it, and have some way of using the payments as a tax write off. also if you lease you have a lot of restrictions on what you can do to the car, and how many KM's you can put on it in a year(and you pay throught the nose if you go over)

Buying out right is better cause the car is yours in the end, you can do whatever to it. Generally the payment are lower than leasing, and no buyout in the end.
Just my opinion.

EXACTLY! If you just want a new car to get from pt A to B in every 2 years, lease it. If you actually care about the car you buy and plan on keeping for longer than 2 years, purchase it!



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post #9 of 10 (permalink) Old 08-13-2003, 01:38 PM
 
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Well that one is a bit tough. With Lease, you tend to get cheaper rates and such, and you get rid of it at the end. It also means though, that you can't do anything to the car. Since it is a lease, you would technically not be aloud to do any mods or anything like that.

If you finance, you can do close to anything you would like, although you still have the get full coverage like under a lease. But you also get to keep it at the end. Depending on your credit record you may be more restricted if you finance, so that also factors in. I would say you should see what you financing options are.
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post #10 of 10 (permalink) Old 08-13-2003, 02:59 PM
 
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With the new "smart buy" programs out there this becomes even more complicated. They're very similar to a lease, but you're options to buy out are slightly different and can be more cost effective. It really depends on whether you're worried about your monthly investment or bottom line vehicle cost. If you're good with money you can actually come out ahead with a smart buy or lease even if you buy it out. If you can invest the money smartly you can gain more in interest than the extra you pay in the end. But it becomes a complicated financial computation and very careful money management to make it all work out possitively. Honestly though, if you're only worried about lowering your monthly payments and don't care how much the car is actually going to cost you, do a lease then refinance the buy out cost at the end...
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