Lease vs. Buy Automobiles

I am sort of sick of auto leasing commercials making buyers look like idiots.

Example A. This guy is buying his car and pays this much, in five years, he is the owner of a five year old car.

Example B. This guy is leasing his car for way less money (debatable) a month and in three years he can lease a brand new car.

Leasing is fine, its nice to drive a new car, but you never own it unless you make a huge balloon payment most can never afford.

I bought my truck. Now it is a 14 year old beater, but has a solid engine and gets me where I need to be. But, most importantly, it is all mine, I own it. I have not made a car/truck payment in 11 years. Whats so wrong with owning something?

I'm with you. I buy.

Part of the reason I buy is because of the whole ownership thing. Although my last car previous to my current truck I traded in after 3 years (I wasn't upside-down, though.)

Another reason is because I occasionally will modify my vehicle to non-factory-standards. Custom exhaust, custom stereo, etc. (I put hood scoops on my Trans Am, my truck has a spray-in bed-liner, which I wouldn't be allowed to do on a lease.)

But there's a financial reason, too. My credit's good enough to get a 3.9% or lower interest rate on a loan with NO DOWN PAYMENT. As opposed to the $5k+ that you have to drop up-front on a lease. And I've asked about leases on vehicles the last couple of times I went to buy. In both cases, the lease rate on the vehicle I WANTED was higher than the monthly on a 6-year loan for the same vehicle.

*shrug*

Buy.

I usually try to buy but generally end up trading up just before the vehicle is paid off, I may as well be leasing..
*runs off to research trade in values*

I bought a Civic in '87 and it's still going strong. Almost 200,000 on it. Haven't made a payment for 12 years. Sooo nice. Best thing I ever bought.

Salazar

Im only twenty years old and I bought my car when I was 16. It has been the best investment I have ever made (actualy one of the only big investments iv made). Its a 1973 VW Super Beatle and I have only had to have it towed to my mechanic twice and that was an easy fix (the clutch cable snapped and a starter that had lived a long life and needed to be put down). Other then that I have only had minor problems. Like the heater (more of a comfort thing that was easily fixed by a kit containig two fans to replace the heating ducts with) and a new speedometer and speedometer cable.
I only payed $2,000 and it already had a nice CD player and speakers when I bought it.

Good investment? I think so.

I think it all depends on what you use the car for. I think a person who does a lot of driving, as a salesman, etc. etc. would be better off with a lease because of the high mileage. A average driver probably would be better off buying.

I buy. I put way too many miles on to lease, plus insurance is usually more with leasing.

The best is to buy a car that is slightly used. A year old car will save you tons in depreciation and it's practically new.

Yes, but I always half to wonder why the previous owner hated the vehicle enouh to be willing to eat several thousand dollars. :-/

I don't buy used, because I don't want to buy someone else's headache.

Alot of times the 'used' car is a 24-month lease return. Most times, used cars can be bought with the original warranty and even an extended warranty. Alot of times people sell cars becuase they change thier mind or simply cannot afford them anymore. Used does not always equate to crappy.

Oddly, the two used cars I've bought in my life visited the shop less than the two new cars I've bought in my life.

I think it also really depends on what you're buying. If you buy a used Yugo, you're guaranteed trouble. If you're buying a used Honda or Toyota, expect few problems.

I've been a German-car kid since days long ago. My silver '83 VW GTI started it all.

I buy. I've owned 4 cars so far, and I put stereo systems in all of them. Nothing ridiculously gaudy or loud, just sensible upgrades. I like the freedom to modify. I can cut holes, run wires, and not have to worry about restoring it to "original" condition.

There is also the issue of damage. My current car got hit late one night by some asshole in a large truck or SUV. No one saw it happen, and I could easily see a clear tire print on my front bumper. Had I'd leased, that little tap would have cost me an arm and a leg to have it professionally fixed. Since the car was paid for, all I did was pull the dent out of the bumper.

Leasing is ok if you use it for business. For most everyone else, its a sucker's game.