What is better?

Login to find out (July 16, 2005 at 11:28am)

so back to the question: if you lease you're probably paying a bit more than purchasing and you have to worry about miles and stuff if you're going to give it back, but then there's the tax benefit. if you buy, you get to use the vehicle without restrictions, but you're still losing money due to the depreciation of the vehicle. if you are the type to always want the newest car, then leasing might make more sense--you don't have to worry about trying to sell the car after two years, or getting less value out of it by trading it in.

Login to find out (July 16, 2005 at 11:24am)

lease payments are NOTHING like renting an apartment/house. lease payments are calculated such that you pay for the value lost in those three years of the car. thus if you take the total of your lease payments, plus the residual they charge after the lease is up, it should be approximately the price of the car, plus maybe a thousand or so. someone do that actual calculation and correct me if I'm wrong. plus, if you pay the residual, you don't have to worry about the condition of the car. you could drive it 100,000 miles in 3 years (as my friend did) and not worry because you'll pay the residual on the car when the lease is over and not worry about the dings and scratches and stuff.

Login to find out (July 16, 2005 at 11:13am)

THis is an easy one. If you get bored of cars easily (me), don't want to worry about maintenance after the bumper to bumper warranty is over (me), want a nicer car that you wouldn't be able to afford if you owned it (me), don't mind making monthly payments all the time, don't drive as much (limited mileage), don't care for restrictions (me) then leasing is for you. Financially speaking, if you dont own a business, owning is the better bet. For my next car I want to get the new A6, but there is NO WAY I can afford it unless i lease it. The montly would be too high. Also, I like the fact that you can beat up on the cars (ie. drive them hard because they are like rentals) on a lease. I usually only bought cars and would keep them till they died so I would tend to baby them throughout their entire life.

Login to find out (July 7, 2005 at 7:32pm)

believe it or not you can even finance a used car - usually if its less than a year old, that way you are saving a ton of money. The minute a new vehicle is take off the lot (after purchse) it loses about 10% of its value

Login to find out (July 7, 2005 at 12:53pm)

is ownership of the car really important because car is not like a house which increases in value over time. car's value rapidly depreciates so it cannot be looked as an investment. so wouldnt renting the car through a lease be wiser?

Login to find out (July 6, 2005 at 2:35pm)

not really mr chi town its actually leasing a home and having your payments used to purchase the unit. I used to work at a dealership and have leased cars as well as taken them back - I have had no problems with a lease return nor with mileage and believe me I drive like a maniac.

Login to find out (July 6, 2005 at 6:59am)

tax benifits are only slightly better for regular individuals on leasing. But if you own a business, you get great tax breaks. BUT Insurance costs are a looot higher on leased vehicles.

afgparty chic.. if you've not completed a leasing agreement yet, you'll find out at the end of your agreement how scrutinez the dealer are bout everything.. if you go over the alloted mileage per year, usually around 12 - 15k miles, it typically costs 25c/ mile.. and i drive bout 30k miles so thats bout $3750/year extra just for going above the mileage...
and u'll never have owner ship... u'll be paying rent on ur car for the rest of you're life if u never buy a vehicle but just lease.. simple math.. is it better to own a house or rent an apartment for the rest of you're life??

anyways thats my opinion.. here's an experts view on leasing vs buying: www.investopedia.com

Login to find out (July 5, 2005 at 8:59am)

the tax benefits r better on leasing then buying therefore i will pick leasing

Login to find out (July 4, 2005 at 11:16pm)

Mr you don't have your facts right on lease - you also have an option of purchasing the vehicle at the lease, I prefer to lease a vehicle that way when the model changes I can upgrade. I don't have a problem making payments and with the way cars are being built today they are not really build to last. Anyhow I am the type who likes to have whats new and stylish - plus your payments will always be lower with a lease. They don't buff over scratches or normal wear an tear - blah blah I am trying to do 5 things mind the no making sense

Login to find out (July 4, 2005 at 11:02pm)

i would stay away from leases if i were you...

simple finance problem..
when you lease a car you pay a monthly payment and at the end of the term u give the car back to the dealer.. u have no ownership.. in other words .. u're just renting the car for bout 3 years.. on top of that if there's minor scratch .. some problems.. go over the mileage limit etc.. all kinds of crappy problems later on..
on the otherhad.. at the end of the payment on just financing the car.., you get ownership of the car.. and on top of that.. the residual value of the car(value after payments r over) can be obtained by selling the car or trading it..
bottom line don't lease .. just shop around for the best finance deal.. nd don't just take ur dealer's offer.. check w/ different banks and different dealers and negotiate the interest rate..

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