Car Lease v. Buying

[cozmohoot]

what happens when your brand new lease has to go in for a new tranny? it happens but youre covered
how about getting a warrantee on the slightly used car to have the same piece of mind as the lease..
last few posts make it sound like a car can only last 5 years! over the years cars have been more reliable not less

[alpicone]

MOST people that I know choose to lease to avoid this problem and to have peace of mind.

So why not just buy....

My primary reason for leasing is to avoid the hassle that comes with buying used and I cant afford new.

As long as you are being honest with yourself and realizing that you aren't leasing because it makes financial sense but rather because you are willing to pay a PREMIUM to have "peace of mind" and to "avoid the hassle" and without leasing as an option you would would pay more attention to the cost of the decision when it is all upfront in $$$.

[zale]

So why not just buy....

Because, as I had stated above, buying will only "guarantee" you peace of mind for the first 3-4 years. After that, there is no telling...

If you do end up selling your vehicle after that amount of time, you may find out that it would have been cheaper to lease.

[zale]

what happens when your brand new lease has to go in for a new tranny? it happens but youre covered
how about getting a warrantee on the slightly used car to have the same piece of mind as the lease..
last few posts make it sound like a car can only last 5 years! over the years cars have been more reliable not less

1. the warranty's only cover the most general problems. The body damages that run $500-$1000 each time will not be covered. The fuel injector problems, the leaking problems, the ac/heating problems, the ball bearings and axels... you can fuggeddaboudit

2. I personally know someone who was covered under the new car warranty when their engine died about 5 years after purchase. The company told them flat out that they will not cover it because the engine was not cared for properly (i.e. oil changes were not done regularly)!!! And you want to talk about getting this on a USED car?

[alpicone]

Because, as I had stated above, buying will only "guarantee" you peace of mind for the first 3-4 years. After that, there is no telling...

Even if you buy new and know that it isn't a flood car that has been fixed, etc .... Most new cars last more than 3-4 years... Most used cars last more than 3-4 years... If you keep a car only 3-4 years than leasing prob makes sense but again be honest with yourself. Would you buy a new car for cash, trade it in after 3-4 years, buy another new care for cash, and then rinse and repeat ever 3-4 years?

If you wouldn't drop the cash but you would do it as a lease, you are tricking yourself into spending more money because it is only a few hundred bucks a month which is worth the peace of mind.

[alpicone]

2. I personally know someone who was covered under the new car warranty when their engine died about 5 years after purchase. The company told them flat out that they will not cover it because the engine was not cared for properly (i.e. oil changes were not done regularly)!!! And you want to talk about getting this on a USED car?

You need to change the oil  .

[Mikeoracle]

what happens when your brand new lease has to go in for a new tranny? it happens but youre covered
how about getting a warrantee on the slightly used car to have the same piece of mind as the lease..

My last used car that I bought was less than a year old with 20k miles so I was still under manufacturer warranty for 2 more years. Doesnt get any better, right?

Problem is when I went to the Chevy dealer to take care of some issues they tell me I am not coverec since they can see the car was in an accident and there are a lot of replaced parts (I had no idea and it wasnt on the car fax).
 Obviously this isnt a common issue but I had other issues in the past as well which made me come to the conclusion that for now my best option is to lease to avoid the hassle and I am willing to pay a premium for peace of mind.

As long as you are being honest with yourself and realizing that you aren't leasing because it makes financial sense but rather because you are willing to pay a PREMIUM to have "peace of mind" and "avoid the hassle"

+100

[skyguy918]

4. Those are bad at negotiating the price for a new car.

Don't know if you're joking or not, but it's actually a great point. People who are good at this sometimes think it's no big deal, but the reality is that some can bargain in their sleep while others are terrible at it. If you're bad at it, it's a real and significant factor because it means you're comparing the lease to a higher 'buying' price than the good negotiator.

[skyguy918]

6. If you know you need that particular car for the shorter time frame of a lease.

Sure you can buy and then sell, but you still may not come out on top, and even if you do, once again, not having to deal with the time/effort/anxiety that comes with that process is worth something (a lot of somethings for most people).

[cozmohoot]

All very good points above. Mazal comes into play as well with all these things.
I know someone who kept having problems with used so he finally decided to lease. 5 months In the tranny goes.. Mazal. Honda fixed it no charge though

[Dan]

Don't know if you're joking or not, but it's actually a great point. People who are good at this sometimes think it's no big deal, but the reality is that some can bargain in their sleep while others are terrible at it. If you're bad at it, it's a real and significant factor because it means you're comparing the lease to a higher 'buying' price than the good negotiator.

Do it all online

[henche]

.

[skyguy918]

Do it all online

You won't do better in person than you can online (you personally)?

[Dan]

You won't do better in person than you can online (you personally)?

No.  Everything can and should be done online until you wring out every last dollar that you can and get a real hard OTD quote from whichever dealer went the lowest.

[popcorn1508]

when you lease you also need full coverage insurance which is an added expense

[Dave321]

when you lease you also need full coverage insurance which is an added expense

who doesnt get collision on a new car?! 

[popcorn1508]

who doesnt get collision on a new car?! 

who said new

[skyguy918]

who said new

The discussion is about leasing new vs buying new. If you're looking at used it's not really a comparison at all.

[Super Speed]

Has anyone mentioned the idea that people may not have 30K lying around to buy a new car but may have the money to enter into a lease? I know there is the idea of financing a purchase but does that change the equation (Is it more worth it to finance a purchase or lease). I look at the question similarly to the buy a house vs. rent a house question. Some people just don't have the money to put down to buy a house and are therefore forced to rent.

I'm actually paying on 10K for 4 years only $300 interest which is basically nothing.

[henche]

I'm actually paying on 10K for 4 years only $300 interest which is basically nothing.

Sure, because they trade lower interest for higher prices.