Author Topic: Car Lease v. Buying (Read 169988 times)

jackofall · « **Reply #360 on:** March 11, 2015, 11:30:19 AM »

Quote from: cozmohoot on March 11, 2015, 11:16:07 AM

Just saw you added minivans. D'oh

You can try to discuss this with them. I actually had this loan on a minivan and they changed the wording on the website to exclude minivans thanks to me. Long story short, I applied for the loan, got approved and bought the van. After a few days of waiting for the money I called them and they said they dont allow this option on minivans. After speaking to many managers I finally got them to agree to process the loan as they approved it, through the system, and I went and purchased a van based of the approval. I also proved to them that the residual value of the van will exceed the balloon payment. Give it a shot.

ushdadude · « **Reply #361 on:** March 11, 2015, 01:10:57 PM »

From Consumer Reports

rots5 · « **Reply #362 on:** March 11, 2015, 01:17:53 PM »

Quote from: ushdadude on March 11, 2015, 01:10:57 PM

From Consumer Reports

the question is at the end.... would you rather have an investment to walk away with or a lighter wallet...

jackofall · « **Reply #363 on:** March 11, 2015, 01:27:42 PM »

Quote from: rots5 on March 11, 2015, 01:17:53 PM

the question is at the end.... would you rather have an investment to walk away with or a lighter wallet...

I think the questions is if you want to drive a new car every 3 years or not. It is not more expensive to lease than buy a car and sell every 3 years.

cozmohoot · « **Reply #364 on:** March 11, 2015, 01:36:15 PM »

Quote from: jackofall on March 11, 2015, 01:27:42 PM

I think the questions is if you want to drive a new car every 3 years or not. It is not more expensive to lease than buy a car and sell every 3 years.

If a person knows he will change cars in 3 years he might as well lease.

ushdadude · « **Reply #365 on:** March 13, 2015, 10:52:31 AM »

Quote from: cozmohoot on March 11, 2015, 01:36:15 PM

If a person knows he will change cars in 3 years he might as well lease.

+1 you get a nicer car for the same payment with a lease.

avromie7 · « **Reply #366 on:** March 13, 2015, 12:05:34 PM »

Quote from: ushdadude on March 13, 2015, 10:52:31 AM

+1 you get a nicer car for the same payment with a lease.

-1 it's only the same the first time you do it the next time the equity in your car lowers your finance payments to be cheaper than a lease

David Smith · « **Reply #367 on:** June 10, 2015, 07:02:02 PM »

Can anyone supply hard numbers on their total costs of a three year lease? (Actual lease price + taxes, bank fees, ect..) In the past I've bought old cars that lasted about three years before I've dumped them, but every time any problem cropped up I kicked myself for not leasing. I spent about $1500 a year, but I see leases advertised for $180 a month or less, and would jump on it if its really under $2400 a year.

gubevo18 · « **Reply #368 on:** August 23, 2015, 05:40:13 PM »

I leased a cr-v base model. My alternative was to finance say a 3 year old car of the like. After speaking with many people who bought and leased and making calculations I figure its about $1000 more a year to lease but insurance is a little cheaper. You get a new car and other than an oil change you never have to worry about maintenance. For me that was worth it.

Sam Finkelstein · « **Reply #369 on:** August 23, 2015, 06:05:36 PM »

Some people lease because they know the car will not have any out-of-warranty issues. On the other hand, leasing requires full insurance coverage, which can get very pricey.

cozmohoot · « **Reply #370 on:** August 23, 2015, 06:57:20 PM »

Quote from: gubevo18 on August 23, 2015, 05:40:13 PM

I leased a cr-v base model. My alternative was to finance say a 3 year old car of the like. After speaking with many people who bought and leased and making calculations I figure its about $1000 more a year to lease but insurance is a little cheaper. You get a new car and other than an oil change you never have to worry about maintenance. For me that was worth it.

What about after your first 3 years when your would be 5 or 6 year old car is still worth plenty and you can keep driving it or sell it....

gubevo18 · « **Reply #371 on:** August 23, 2015, 07:05:42 PM »

Quote from: Sam Finkelstein on August 23, 2015, 06:05:36 PM

Some people lease because they know the car will not have any out-of-warranty issues. On the other hand, leasing requires full insurance coverage, which can get very pricey.

The same would be true for financing a car which in my case was the alternative

gubevo18 · « **Reply #372 on:** August 23, 2015, 07:18:41 PM »

Quote from: cozmohoot on August 23, 2015, 06:57:20 PM

What about after your first 3 years when your would be 5 or 6 year old car is still worth plenty and you can keep driving it or sell it....

Yes that was part of my calculation and my preferences of not driving a beat up car ( my alternative was a car that was already 3 years old) where I'm in the mechanic monthly and if that is the car I would drive the cost of buying such a car vs. having one already is not that significant

moko · « **Reply #373 on:** August 23, 2015, 08:40:29 PM »

Quote from: gubevo18 on August 23, 2015, 07:18:41 PM

Yes that was part of my calculation and my preferences of not driving a beat up car ( my alternative was a car that was already 3 years old) where I'm in the mechanic monthly and if that is the car I would drive the cost of buying such a car vs. having one already is not that significant

for a 3 year old car you should not be by the mechanic more than a couple of times a year. I have 04 avalon and I'm only at the mechanic a few times a year

Super Speed · « **Reply #374 on:** August 23, 2015, 08:48:53 PM »

Quote from: moko on August 23, 2015, 08:40:29 PM

for a 3 year old car you should not be by the mechanic more than a couple of times a year. I have 04 avalon and I'm only at the mechanic a few times a year

A few times a year is a few too many for some people.

moko · « **Reply #375 on:** August 23, 2015, 08:51:18 PM »

Quote from: Super Speed on August 23, 2015, 08:48:53 PM

A few times a year is a few too many for some people.

that maybe. But lets not scare people off and say that the average is monthly for a 3 year old car.

cozmohoot · « **Reply #376 on:** August 24, 2015, 07:55:15 AM »

Quote from: moko on August 23, 2015, 08:51:18 PM

that maybe. But lets not scare people off and say that the average is monthly for a 3 year old car.

+1 also 04 is a bit older than 2012

A3 · « **Reply #377 on:** August 24, 2015, 09:03:38 AM »

It depends how you handle it,
I had a 2000 Chevy with ~95,000 miles on it,
The past three years It was at the mechanic (for issues other then standard oil change) 2 times, for a total of $300.

We had to buy a larger car (financed) so we gave that one away.

cozmohoot · « **Reply #378 on:** August 24, 2015, 05:47:31 PM »

Quote from: A3 on August 24, 2015, 09:03:38 AM

It depends how you handle it,
I had a 2000 Chevy with ~95,000 miles on it,
The past three years It was at the mechanic (for issues other then standard oil change) 2 times, for a total of $300.

We had to buy a larger car (financed) so we gave that one away.

True. There is also mazal involved...

gavhaller · « **Reply #379 on:** August 26, 2015, 09:06:34 AM »

Besides for excess wear and tear policies (damage waiver) has anybody gotten a tire policy as well?

Poll

Do/Would you Lease or Buy?

Author Topic: Car Lease v. Buying (Read 169988 times)