Results 1 to 15 of 15
  1. #1
    Join Date
    Aug 2001
    Posts
    4,028

    * Vehicle: Lease or Finance

    Hey guys.

    Me and the girlfriend are purchasing a car tomorrow and our minds were set on financing, but after speaking with dealers, friends and some family members, we've been told that if we're going to put less then 20,000km on the car per year, we're best to lease.

    I'll be honest when I say that I know almost nothing about vehicles... I've done as much research as possible regarding buying a new car, but still feel lost.

    What are thoughts of everyone else?

    Jeff

  2. #2
    Join Date
    Apr 2003
    Posts
    936
    How long do you plan to keep it? When do you want to get your next car?

    If you plan on getting a new car in around 3 years, leasing may be better. If you want to keep the car for a longer time you may want to finance(buy).


  3. #3
    Join Date
    Sep 2002
    Location
    Western Canada
    Posts
    1,888
    Depending on the specifics, in the end, leasing usually will cost a considerable amount more than if, for example, you got a loan from the bank.

    You really should research first and find the hard numbers, because once you're in there they'll tell you anything to make the sale.

  4. #4
    Join Date
    Aug 2001
    Posts
    4,028
    Actually the salesman is a extremely good friend of mine whom I've known for about 2 years which is why I'm quite comfortable with him.

    I'm lost at the moment. I'm guessing that in 3-4 years, we will want a new car, but who knows. It's a tough decision.

  5. #5
    Join Date
    Jun 2003
    Location
    United States of America
    Posts
    1,838
    finance as long as you get a general motors car, if you really really want a ford i didnt say anything but id never buy one so
    Computer Steroids - Full service website development solutions since 2001.
    (612)234-2768 - Locally owned and operated in the Minneapolis, Minnesota area.

  6. #6
    Join Date
    Sep 2002
    Location
    Illinois
    Posts
    2,304
    Never buy/lease General Mistake Cars
    How's my programming? Call 1-800-DEV-NULL

  7. #7
    Join Date
    Aug 2001
    Posts
    4,028
    Mommy and Daddy work for GM so we kind of have to go that route.

    I think I'm back on my finance high again Thing I like about the finance is we can either keep it when we're done or get a trade in value of about $4-5k for it if we decide to by new in 3-4 years.

    Jeff

  8. #8
    Join Date
    Mar 2004
    Location
    USA
    Posts
    4,342
    buy it :$
    Testing 1.. Testing 1..2.. Testing 1..2..3...

  9. #9
    Buying equals the best route. Leasing Equals amount of depreciation over a given amount of time + interest, and Financing is just the interest over the whole car until paid off. Personally, I would never buy anything brand new unless it holds its value very well. (NO GM CARS HOLD VALUE VERY WELL) over the next 3-4 years, the care will be worth half of what the original sticker price is. Go for a car that is 3-4 years, with low miles, It is a better deal every single time. The only time you should ever buy a new car is if you plan on driving it for an extended period of time. (8-10 years)

  10. #10
    Join Date
    Sep 2002
    Location
    Knoxville, TN
    Posts
    645
    Best bet is to buy a used car coming off lease. You can get good, well-cared for cars and let the original leaser eat the depreciation.
    Laura K.
    http://www.madmousergraphics.com
    graphic design for grownups

  11. #11
    Join Date
    May 2002
    Location
    Texas
    Posts
    137
    dude...it'll cost you more money short term but buy the car.

    leasing can be a very bad thing if you don't manage it properly.

    the fees they sock you with when you walk away from the vehicle can be brutal.

    my sister got hit with $3500 in fees for mileage, "damage," and other incidental stuff. my girl-friend got hit with a damage fee for paint that was peeling but covered under warranty.

    and i leased my last pickup and i'll tell you...they tried to lowball me on the trade and then tried to jack up the cost of the new truck i was purchasing because i wouldn't lease another one.
    "If you come to a fork in the road...take it"

    Yogi Berra

  12. #12
    Join Date
    Sep 2003
    Location
    Saskatchewan, Canada
    Posts
    946
    My aunt has been leasing cars since 1993 and she loves it.
    If it breaks down she gets a new one. After the lease time she gets a new one.
    Just depends on your financial situation.
    Yes in the end you would be paying a lot more in leasing fees if you lease cars instead of purchasing them, but in the case of my aunt that is all she can afford to do right now.

  13. #13
    Join Date
    Sep 2003
    Location
    Saskatchewan, Canada
    Posts
    946
    My aunt has been leasing cars sine 1993 and she loves it.
    If it breaks down she gets a new one. After the lease time she gets a new one.
    Just depends on your financial situation.
    Yes in the end you would be paying a lot more in leasing fees if you lease cars instead of purchasing them, but in the caser of my aunt that is all she can afford to do.

  14. #14
    Join Date
    Sep 2003
    Location
    Saskatchewan, Canada
    Posts
    946
    My aunt has been leasing cars since 1993 and she loves it.
    If it breaks down she gets a new one. After the lease time she gets a new one.
    Just depends on your financial situation.
    Yes in the end you would be paying a lot more in leasing fees if you lease cars instead of purchasing them, but in the caser of my aunt that is all she can afford to do.

  15. #15
    Join Date
    Aug 2001
    Posts
    4,028
    Thanks for everyones advice.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •