gleninjersey 2,141 Posted January 22, 2018 Do you lease or buy your vehicles? Why? Also, I know there are some people who work or worked in car sales here. When does it make sense to lease versus owning and when does it make sense to just buy to own? Quote Share this post Link to post Share on other sites
Krdshrk 3,877 Posted January 22, 2018 I only buy. I view leasing as a long term rental. Mileage restrictions suck as well. 1 Quote Share this post Link to post Share on other sites
Ray Ray 3,566 Posted January 22, 2018 Just now, Krdshrk said: I only buy. I view leasing as a long term rental. Mileage restrictions suck as well. This Leasing makes no sense to me. Take my money for the term of the lease, charge me for ANYTHING when I return it, and I get nothing at the end. Quote Share this post Link to post Share on other sites
siderman 1,138 Posted January 22, 2018 Only buy. I hate worrying about all the ramifications of using and being responsible for someone else's vehicle. Quote Share this post Link to post Share on other sites
DTtuner 21 Posted January 22, 2018 Lease only makes sense if you can deduct it as a business expense. Otherwise, it's for people who can't really afford what they are driving... 7 Quote Share this post Link to post Share on other sites
Rob0115 1,105 Posted January 22, 2018 Both depends. Quote Share this post Link to post Share on other sites
45Doll 5,877 Posted January 22, 2018 I used to think leasing was a crock too. Then five years ago I did the math. The last car I owned was an Olds Intrigue loaded. I owned it for 13 years and 160,000 miles. After I sold it I added up the cost of the car, maintenance and repairs and divided by the number of months. Answer: $285/month. So now for an extra $25 to $50 per month I can drive a brand new car and have no unexpected repair bills. Everything's always under warranty. (Of course the insurance on a new vehicle is more than it was the last 9 years on my Intrigue.) One other thing. If the car you own is seriously damaged in an accident, that fact will greatly reduce the resale price when they run the CarFax report. You have to eat the loss. In the case of the lease, you hand in the key and walk away. (This assumes in both cases you have the car repaired under insurance.) Of course getting a good price on a lease is a whole other post. 5 Quote Share this post Link to post Share on other sites
Alex V 99 Posted January 22, 2018 I lease only because there is no daily driver that I want to own. At least I have yet to find one. I also don't wan to be responsible for repairs in 3 years. Maybe if I find something I want to keep, I will buy it. The amount of money I paid out over the course of my last lease (up Feb 4) is less than the amount of depreciation the car has experienced over the last 3 years. If I had bought the car, I would have lost money trading it in over the the cost of my lease. If I was to get a Vette, I would buy it cause I know I would want to keep it. Otherwise, I lease. Quote Share this post Link to post Share on other sites
Howard 538 Posted January 22, 2018 The cheapest way to have a car is to buy a two or three year old car and drive it till it stops moving. But cheap does not always mean best. That 12 year old car might just give up the ghost when you are in a bad part of town, and oh crap you live in New Jermany and can't have a gun with you Leasing is actually cheaper than buying if you want a high priced luxury car. Leasing is cheaper than buying if you want a new car every two years, especially if you don't want to have to deal with selling a car privately. As mentioned if you have major damage to a car, even if "perfectly" repaired that car will never be worth what a clean one will be that did not have that damage. I had a leased car that was rear ended under the Betsy Ross bridge near Philly. The back was totally smashed and the car was just driveable. The lease was up a two weeks later and I was leaving on a business trip to Europe three days later. I took the car to the dealer the day before I left with the insurance info and police report and said here is your car I am done you deal with it. That was the last I ever heard of the car and they handled everything. Bottom line, there is no one right answer, even though for most I agree that generally better to buy if you can't take the lease payments as a business expense. Quote Share this post Link to post Share on other sites
fishnut 2,358 Posted January 22, 2018 Both, I own my wrangler and my truck and lease the wife's vehicle. I'll keep the jeep forever and when the truck dies I'll buy another used truck as a DD. I'd rather my wife have a newer dependable vehicle to drive our daughter around in and not worry about breaking down. My wife is a stay-at-home mom so she will definitely be under the 15K miles per year. However the next vehicle we are probably going to end up buying a Toyota sennea because the venza is just not big enough especially now that we're planning on getting a third dog. Quote Share this post Link to post Share on other sites
Krdshrk 3,877 Posted January 22, 2018 23 minutes ago, fishnut said: Both, I own my wrangler and my truck and lease the wife's vehicle. I'll keep the jeep forever and when the truck dies I'll buy another used truck as a DD. I'd rather my wife have a newer dependable vehicle to drive our daughter around in and not worry about breaking down. My wife is a stay-at-home mom so she will definitely be under the 15K miles per year. However the next vehicle we are probably going to end up buying a Toyota sennea because the venza is just not big enough especially now that we're planning on getting a third dog. Sienna is nice. Going total Minivan eh? 2 Quote Share this post Link to post Share on other sites
Ray Ray 3,566 Posted January 22, 2018 3 hours ago, DTtuner said: Otherwise, it's for people who can't really afford what they are driving... So true 1 Quote Share this post Link to post Share on other sites
GRIZ 3,369 Posted January 22, 2018 3 hours ago, DTtuner said: Lease only makes sense if you can deduct it as a business expense. Otherwise, it's for people who can't really afford what they are driving... 4 minutes ago, Ray Ray said: So true I agree. No sense repeating what's already been said. Quote Share this post Link to post Share on other sites
GunsnFreedom 245 Posted January 22, 2018 I buy because I want to own what I have, tend to drive way over what the allowed mileage is and will maintain/repair pretty much anything. I enjoy time spent in the garage so it saves me money to buy, especially when I get a good rate on a loan. I also keep my cars a long time. Quote Share this post Link to post Share on other sites
EX Carnival man 223 Posted January 22, 2018 Use to lease now we buy. When my wife and I were younger it was nice to get a new car every three years. We work in the same town we live in so the millage was never a problem. Once the dealers started offering zero percent it makes more sense to buy. Quote Share this post Link to post Share on other sites
fishnut 2,358 Posted January 22, 2018 1 hour ago, Krdshrk said: Sienna is nice. Going total Minivan eh? Ehhhhh yeah I think so for the wife. Plan on doing allot more road trips the next few years. The venza is just to small, I was liking the grand cherokee but obviously the minivan has allot more cargo room for around the same price. I'm keeping the wrangler so I'll still be cool enough. Lol Quote Share this post Link to post Share on other sites
GRIZ 3,369 Posted January 22, 2018 25 minutes ago, fishnut said: Ehhhhh yeah I think so for the wife. Plan on doing allot more road trips the next few years. The venza is just to small, I was liking the grand cherokee but obviously the minivan has allot more cargo room for around the same price. I'm keeping the wrangler so I'll still be cool enough. Lol You can be cool with a minivan. A friend who's single bought a minivan for a daily driver. He did a lot of camping, kayaking, scuba diving, rock climbing, skiing, etc and needed something he could haul his gear in. He does have a 911 for when he really wanted to look cool. 1 Quote Share this post Link to post Share on other sites
siderman 1,138 Posted January 22, 2018 59 minutes ago, EX Carnival man said: Use to lease now we buy. When my wife and I were younger it was nice to get a new car every three years. We work in the same town we live in so the millage was never a problem. Once the dealers started offering zero percent it makes more sense to buy. zero% is awesome. like paying cash but better because you get to spread it out over some yrs if you want and can put that $ to other uses in the mean time. 1 Quote Share this post Link to post Share on other sites
MartyZ 696 Posted January 22, 2018 I always bought for myself and leased for my wife. She always wanted a new car every 2 to 3 years because she could never find something she would want to keep for longer. 2 years ago I leased for myself for the first time, biggest mistake I ever made, only to get lower payments. I love the car but I would have saved in the long run if I bought it initially, because even though I had lower payments I will end up paying more in the long run because I am forced to buy it out due to my excessive miles. I basically got financially screwed on the deal, by about $3k. I will never lease again. And we just bought a car for my wife, no more lease there either. Quote Share this post Link to post Share on other sites
fishnut 2,358 Posted January 22, 2018 43 minutes ago, GRIZ said: You can be cool with a minivan. A friend who's single bought a minivan for a daily driver. He did a lot of camping, kayaking, scuba diving, rock climbing, skiing, etc and needed something he could haul his gear in. He does have a 911 for when he really wanted to look cool. His 911=My wrangler I just don't have a fast vehicle anymore because I can't afford another speeding ticket let alone another licenses suspension. And I know I'm not responsible enough to keep it within the speed limit. Hehe 1 Quote Share this post Link to post Share on other sites
Zeke 5,504 Posted January 22, 2018 I’ll Buy what you leased. Certified, extended warranty, cheaper. Never will lease, and never will do factory new again. 1 Quote Share this post Link to post Share on other sites
voyager9 3,434 Posted January 23, 2018 7 hours ago, fishnut said: Ehhhhh yeah I think so for the wife. Plan on doing allot more road trips the next few years. The venza is just to small, I was liking the grand cherokee but obviously the minivan has allot more cargo room for around the same price. I'm keeping the wrangler so I'll still be cool enough. Lol Check out the Pacifica. We had to go the minivan route for the wife. Its like the bridge of the Starship Enterprise. I hated giving up the Jeep but have to admit it is infinitely easier to cart the kids around in. We leased that since I’m pretty sure we won’t want it after the term is up. It will probably need to be burned by CDC. Quote Share this post Link to post Share on other sites
Ray Ray 3,566 Posted January 23, 2018 1 hour ago, Zeke said: I’ll Buy what you leased. Certified, extended warranty, cheaper. Never will lease, and never will do factory new again. Road hard and put away wet. Pass Quote Share this post Link to post Share on other sites
Zeke 5,504 Posted January 23, 2018 5 minutes ago, Ray Ray said: Road hard and put away wet. Pass No. Wrong ! ” Lease for my wife” .. repeatedly up thread Quote Share this post Link to post Share on other sites
Ray Ray 3,566 Posted January 23, 2018 3 minutes ago, Zeke said: No. Wrong ! ” Lease for my wife” .. repeatedly up thread Triple unfriended Quote Share this post Link to post Share on other sites
Zeke 5,504 Posted January 23, 2018 19 minutes ago, Ray Ray said: Triple unfriended Can you even do that? Quote Share this post Link to post Share on other sites
1LtCAP 4,264 Posted January 23, 2018 i don't like leases. i think that the guy that thought that idea up realized just how stupid the general population can be.....pay a bunch for the car.....then give it back. then they sell it. i only really suggest leasing to those that want to drive higher end eurotrash. i tell em to lease, keep up on basic maintenance, and if they still like it, trade it back, and lease another. that keeps em from having to deal with the inevitable expensive breakdowns that WILL happen. 1 Quote Share this post Link to post Share on other sites
Ray Ray 3,566 Posted January 23, 2018 14 minutes ago, 1LtCAP said: i only really suggest leasing to those that want to drive higher end eurotrash. You got a +1 for that sir. God Bless you Quote Share this post Link to post Share on other sites
fishnut 2,358 Posted January 23, 2018 51 minutes ago, voyager9 said: Check out the Pacifica. We had to go the minivan route for the wife. Its like the bridge of the Starship Enterprise. I hated giving up the Jeep but have to admit it is infinitely easier to cart the kids around in. We leased that since I’m pretty sure we won’t want it after the term is up. It will probably need to be burned by CDC. Were moving to New Hampshire, the Sienna is the only minivan that is AWD currently. Quote Share this post Link to post Share on other sites
Krdshrk 3,877 Posted January 23, 2018 5 minutes ago, fishnut said: Were moving to New Hampshire, the Sienna is the only minivan that is AWD currently. Roads up there are well groomed. Put on snow tires and FWD is fine. My parents have lived in Vermont for years. The AWD Sienna is only available in 7 Passenger and they wanted the 8 passenger, so they got the FWD version. It's all about proper tires. 1 Quote Share this post Link to post Share on other sites