car Lease VS Buy

Discussion in 'Automotive' started by Kimvisible, Dec 11, 2017.

  1. Kimvisible

    Kimvisible
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    Hey RC, guess who finally got there beginner and taking there road test soon. mmmmmmmmmmmmmmeeee

    I am 100% getting a car.

    what is your opinion on Lease vs Buying.

    also what Kind of car, I don't want a big car, like a little hatchback.
     
  2. 17

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    teenage dirtbag

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    leasing is great. every couple of years you turn it in and get a new one. its going to be under warranty and if you dont drive it a ton you'll be set.

    but you can always get a year or two older small hatchback, save some money and have a cheap payment if you finance.
     
  3. RoryTate

    Buffer the streaming media unto me.

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    This is the same argument as renting vs buying a house. If you lease, you have nothing to show for it after two years. If you're cool with that, and you don't plan on driving anywhere near the km limit, give'er.
     
    Last edited: Dec 13, 2017
  4. 17

    17
    teenage dirtbag

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    Lots of people buy and have less than nothing to show for it after 2 years when you consider negative equity.
     
  5. Dewie

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    I agree with this... unlike a home cars depreciate wayyyy too quickly... with a lease you're paying for warranty/the piece of mind that you won't have to repair your car. I know people who should be leasing vs fixing their heaps as it'd work out about the same in the end (I, sadly, am not one of those people; as much as I'd love to have a new car I just drive too much and the numbers aren't in my favor...)
     
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  6. PirateSteve

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    I lease both my vehicles. I work a lot and I don't have the time or desire to run old worthless cars or keep up our two daily drivers. Plus if you are considering end of lease values with buyouts vs owning and depreciation it really isn't that far off and there are way too many variables that could negatively affect that vehicles resale if you were to own it. The only way imo that owning works is if you want to keep that car forever. Being in the industry I see cars that have higher mileage and age and it isn't so pretty some times. Just treat it like another appliance and give it back when it is used up for another one.

    There are plenty of counterpoints but for me I will take the piece of mind of not being tied into something that will be almost worthless in 5-6 yrs.
     
  7. 17

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    teenage dirtbag

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    My job has changed and work pays me a car allowance. I should get something brand new with a high mileage lease but instead I’m going to get something 3-4 years old and pocket the difference
     
  8. Boots

    www.reality-check.ca

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    and Ford quality :rofl:
     
  9. 17

    17
    teenage dirtbag

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    Why ford in particular? I’ve got lots of people in my family that I sold new ones to with 100k+ kms and no issues
     
  10. Boots

    www.reality-check.ca

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    Man.. selling your own family members a Ford... ruthless :kekeke:
     
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  11. 17

    17
    teenage dirtbag

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    GOTTA GET PAID
     
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  12. Dewie

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    I just put a Power steering pump on my mother's '09 Fusion with 385k kms on it. It was my father's company car which they bought when the lease was up. Aside from rocker panels being kind of soft now (patched) and the rear drive-shaft being replaced it's only really had regular maintenance. We also determined it has NEVER had the spark plugs changed... While under the car I can see the boots are torn on all 4 lower balljoints in the front and there is soon to be more rust issues. The car is on its last legs but for what they've done to it vs what they paid they're ahead 10 fold.

    It wouldn't be my first choice, but it certainly wasn't a junk to last as well as it did.
     
  13. dpwu32

    Is it summer yet?

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    For me, depends on a lot of factors. How much do you drive, how long are you planning on keeping it, how badly/soon will you want a newer car, what makes/models are you considering...

    - If it's something with decent resale value, good build quality, and you're planning on keeping it longer-term (ideally at least a few years beyond your payments), it may make more sense to buy.

    - If you're looking for the cheapest option, might want to change/upgrade sooner, don't drive a ton, or are looking at something that won't hold it's value as well, leasing might be the best option.

    Personally I've never leased, but I've always bought my vehicles intending to keep them for at least 5-7 years, and drive more than most leases include as standard.
     
  14. Bean

    Breasts

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    I'm with you. I haven't leased. I've bought and because I drive a fair bit and I have the dogs. I plan to own it for about 6 yrs. The warranty I got is great for my needs vs the one I'd have with a leased vehicle. The leased warranty and km attached to it didn't make sense for me. The standard like mentioned above was too low for me.
     
  15. Duggan

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    @ 30,000km plus a year the leases are pretty pricey for me. I would lease something for the wife though next go around, she might put 1500km on in a month, but usually its 1,000km.
    A 16 or 20k lease should be pretty reasonable if that is in the range you plan to drive. You can also try lease busters if you want to just take over someones payments and not have such a long term.
     
  16. 17

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    teenage dirtbag

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    We got my wife a new car in sept and it’s already got 11k on it :lol:
     
  17. Mitch

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    Greg loves lease busters, he’s done that 4-5 times now
     
  18. Scott

    rawr

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    Been considering leasing for my next truck.
     
  19. Miss Shawty

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    Congrats KimvisibleKimvisible You beat me! I still don't have my license and I have a car. :lol: I'm really not doing this adulting thing properly.
     
  20. Michael

    Hole digger

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    I did i
    i did it with my f150. Then bought it out at the end of 3 years and sold it at auction for a nice profit.
     
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  21. Gardiner

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    For years, we've always owned one vehicle and leased the other. This works well for us as we only drive an average of 10k a year.
     
  22. RoryTate

    Buffer the streaming media unto me.

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    I wish I only did 10k a year. :) I do 36k just commuting.
     
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  23. MRA

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    I put 4K on my car this year
     
  24. never_be_sold

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    We average 60-70K a year between the two of us...
     
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  25. Dewie

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    I average nearly this myself...
     
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  26. Boots

    www.reality-check.ca

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    Element is almost 11 years old and has 153K on it :rofl:
     
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  27. dpwu32

    Is it summer yet?

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    We average around there too, broken up between two vehicles.


    We've had our Rav4 15 months, just rolled 42k on the weekend.
     
  28. Grifter

    Bluh?

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    I bought my Titan new in August... just rolled 15000km on it.

    Got the wife's Escape in May, roughly 4500km on it. Not hard to tell which one gets driven more :lol:
     
  29. hank

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    I'm going to guess the one with more km
     
  30. Grifter

    Bluh?

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    You're so smrt
     
  31. N / A

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    All depends on the vehicle, you can lease certain Toyotas and at the end of the lease the fair market value is 10-15k more then the residual. If you lease one of those and sell it at the end of the lease you would make the exact same amount as if you bought it and sold it and you would have several hundred more of cash flow month to month cause essentially you are financing the delta of the purchase price and the residual as opposed to financing the full amount
     
  32. Duggan

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    This is probably what Kim is after.
     

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