Thread: Do you lease or buy?

I buy. I'm actually an anti-car guy, though. I wish more American cities were planned in such a way that public transit was faster, cheaper and more convenient than owning a vehicle.

Thoughts?

I buy used, never new. I live in a city that has a HORRIBLE public transit system. You canr really get around without a car. Kind of makes me wish I were back in DC.

I was once like you... anti-car, but at some point I was forced into buying one.

My advice not to lease. I like to refer to it like renting an apartment vs. buying.

When you own a vehicle you at least can sell it once you are done with it. I know it is not an investment, but at least you get something from it in the end.

I totally agree with debtguy. If you are gonna spend the money atleast own something at the end of the day.

It's all about minimizing losses, because no matter what you lose.

I buy but I bought a sub-compact this time around. An 09 Nissan Versa.

Banks wouldn't lease cars unless they could make more money off of them than selling them, so it is always smart to buy. Unless you are the type that likes a new car every year, then lease away. In most cases the millage clause gets people you only get like 12,000 miles a year, everybody drives more then that!

Originally Posted by easycreditinfo

Banks wouldn't lease cars unless they could make more money off of them than selling them, so it is always smart to buy. Unless you are the type that likes a new car every year, then lease away. In most cases the millage clause gets people you only get like 12,000 miles a year, everybody drives more then that!

I disagree, I lease and I don't get a new car every year, once every three years and I don't go anywhere near over my mileage! I am turning in a lease in a couple weeks and on this one I am 13k under what I was allowed (at 12k per year) I think it just depends on the person and the type of car you want. For me, I wanted a new car with everything under the sun in it. I didn't want a $1000.00 a month payment so I chose lease at 500 a month. \Well, had I bought the car and went to trade it in 3 years later, I would not be able to sell it for more then I owe on it so it doesn't really make too much difference on lease vs. buy (you will most never profit from a car) I think it comes down to personal preference in their car and what you want to hand over for a payment and of course, if you drive a ton of miles!

I like to buy a car rather than lease. because in lease there is a time limit but in buy car is yours for long life.
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