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Leasing or Buying?

Discussion in 'Members' Lounge' started by brian11to1, Sep 28, 2005.

  1. brian11to1

    brian11to1 Senior Member

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    Which is more effective, to lease or to buy a car? Which is more cost effective I need a daily driver, so Im thinking of leasing a Honda. I drive roughly 500 miles a week to/from work and maybe... an additional 200-300 for my own personal errands and to hang out...

    So, what's better?
     
  2. VTEC_CBR

    VTEC_CBR Senior Member

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    well, new cars it's Better to lease, and used cars purchase. but with that much driving you're probably better off purchasing.
     
  3. E_SolSi

    E_SolSi Member of the 20 nut club Moderator VIP

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    youre averaging about 40,000 miles per year
    you CANT lease
    your milage penalties would be rediculous

    most leases allow 10-15k per year and charge something like $0.10 for every mile over
     
  4. pissedoffsol

    pissedoffsol RETIRED

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    :werd:

    leasing is an overall shitty idea. its just like renting.

    you pay all this time, and when its up, you have to give it back... you can't re-sell it to get some money back
     
  5. reckedracing

    reckedracing TTIWWOP VIP

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    leasing is never a good idea unless its for a business, or you are one of "those people" that need a new car every year...
     
  6. VTECin5th

    VTECin5th Administrator

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    Don't lease@!
    Jesus christ, you drive 100 miles per day?
    Do you work near the border of new mexico? [​IMG]
     
  7. dohcvtec_accord

    dohcvtec_accord WRX Sellout

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    That's the long and short if it.
     
  8. reikoshea

    reikoshea HS Troll...And Mod Moderator VIP

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    I cant think of a good time to lease....except lately. I feel really bad for most of these people because they are sooooo upside down on anything that they are trading.

    The employee pricing thing has screwed up everyone's trade-in. So if Ford/GM/DC doesnt do this shit again buy the car...

    If you get a lease good enough to save money while you are paying...you can save for a down payment on your next lease.
     
  9. Battle Pope

    Battle Pope New Member

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    the bad thing about leasing, for me anyway, is the mileage restrictions.

    I drive 200 miles per week just back and forth to work. Not including weekend driving or any side trips outside my normal path. Over the course of a year, I drive at minimum 10,500 miles (adding 100 for give and take). As E said, most lease contracts limit you to 14,000 miles per year. That means that I would have to inconvenience myself by taking fewer leisure trips, simply because I wouldn't allow myself to pay an extra ten cents per mile when the lease is up.

    The other thing that I really don't follow is having to give it back. If I'm going to put out that much money over that kind of time period, I want to have something to show for it when that period of time is over. And by "something", I don't mean a stack of papers showing I drove a bmw for 2 years.
     
  10. dohcvtec_accord

    dohcvtec_accord WRX Sellout

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    That's the part that gets me. People who lease a car without being able to write it off as a business expense. I've heard people trying to justify it before, and it simply doesn't make sense.
     
  11. Celerity

    Celerity Well-Known Member

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    Leasing is a chump's bet.

    Of course, to a degree, owning a new car is also a chumps bet. And financing anything is a chumps bet.
     
  12. VTEC_CBR

    VTEC_CBR Senior Member

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    here is the thing about leasing that alot of people don't know, and actually there is a reason why you need good credit to lease, because it can save you alot of money and is more of a privilege. you will have lower payments, and there is the residual value of the vehicle at the end of the term we'll use an easy example of 10000. ok, at the end of the term you can pay the 10k and keep it if you want, and most of the time, Not always, but most of the time what you pay on your lease payments plus the residual at the end comes up to be less than the overall purchase price. a 72 month purchase vs. a 60 month lease, you'll have much lower payments on the lease plus save 12 more payments, add that together and it usually covers the residual. i sold a truck to a guy, and he ended up leasing it because at the end he was saving 3k on a 50k truck. that being said, as per the mileage thing, if trading in a vehicle you also get hit on mileage over what it should be and that gets taken off of the value of the vehicle, and usually at a higher rate per mile than a lease. ask managers at dealerships, and 9/10 of them lease, because it's usually the smarter way to go, the general public just has the notion that you pay and pay and at the end you're left with nothing. btw, i plan on leasing my next several vehicles.
    Sam
     
  13. pissedoffsol

    pissedoffsol RETIRED

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  14. Xaero3953

    Xaero3953 Senior Member

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    :werd:
     
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