Car Financing - Leasing vs Purchasing

[Wyndru]

For me purchasing is the way to go.

I buy cars that are fairly low mileage and over 4 years old, then I drive them into the ground (at least 5 more years per car), so for me purchase is the way to go.

Luckily I've never had serious issues with any cars I've had so this method has worked well. If the cost of repairs is starting to be more than another payment would be I start looking again.

I'm currently driving a 1999 monte carlo, only have 94k on it, and have had 0 issues (only spend money on regular maintenance and upkeep). It's been paid off for 4 years.

 

[edro]

I guess I will never understand leasing.
It must be for people who want more car than they can afford to buy.

Buying a good used car (Honda/Toyota) with high resale is the best move.

FYI, my 97 Accord has 255k on it and still running.

 

[OutHouse]

but my wife NEEDS a car because her car was totalled.

now that i can understand. we all recommend you buy not lease.

 

[purbeast0]

so i just talked to the guy on the phone about leasing a new infiniti to my wife (she's at the dealership right now) ...

$2000 down, $480/month (or something) for 39 months, 12000 miles a
year. and at the end of the terms, it will be a $23k buyout.

ffuucckkkk that, told her NOT to do that shit.

i thought she was talking about leasing a 2008 car (the model she's looking at purchasing) not the brand new ones. thought it would be taking over someone elses lease or just a lease on a used car. but no. no way in hell she's going to do that.

 

[overst33r]

you sent your wife to the dealership alone? :awe:

 

[Wyndru]

so i just talked to the guy on the phone about leasing a new infiniti to my wife (she's at the dealership right now) ...

$2000 down, $480/month (or something) for 39 months, 12000 miles a
year. and at the end of the terms, it will be a $23k buyout.

ffuucckkkk that, told her NOT to do that shit.

i thought she was talking about leasing a 2008 car (the model she's looking at purchasing) not the brand new ones. thought it would be taking over someone elses lease or just a lease on a used car. but no. no way in hell she's going to do that.

LOL, $43720 total, yet limited with the mileage for the 1st 3 years. These leasing dealerships must really make some serious money doing this.

 

[alent1234]

so you just paid it off and running out to buy a new car?

if your current car runs keep it but it sounds like you are obsessed with going into debt by at least 10,000 again by buying a shiny new car.

gotta have now!!!! screw banking that car payment for 4 years and paying cash.

when your rate is somewhere between 0% and 1% why pay cash?

 

[spidey07]

LOL, $43720 total, yet limited with the mileage for the 1st 3 years. These leasing dealerships must really make some serious money doing this.

They do, most look at it as "how much is the monthly payment" without realizing they are getting completely screwed.

 

[alent1234]

so i just talked to the guy on the phone about leasing a new infiniti to my wife (she's at the dealership right now) ...

$2000 down, $480/month (or something) for 39 months, 12000 miles a
year. and at the end of the terms, it will be a $23k buyout.

ffuucckkkk that, told her NOT to do that shit.

i thought she was talking about leasing a 2008 car (the model she's looking at purchasing) not the brand new ones. thought it would be taking over someone elses lease or just a lease on a used car. but no. no way in hell she's going to do that.

if you buy a toyota/honda every 3-4 years then by car 3 or 4 you will have enough residual value to put a nice down payment on a acura/lexus/infinity and stay below $400 for a 5 year loan.

i'm on a 2010 CR-V now that i plan to trade in 2014. i pay $400 a month for the EX-L model. my estimate that a new one will cost me $275 for a 5 year loan, $400 for a 3 year loan or i can buy a RDX for $400 or so per month

i'll probably buy a new one with a 3 year loan and so on. don't see any point in paying $6000 more for an Acura

 

[purbeast0]

you sent your wife to the dealership alone? :awe:

i know i know man, bad move. but i cant take off work anymore cause we were on vacation couple weeks ago.

but i keep telling her to call me before she signs anything cause im the final say lol.

 

[Tweak155]

I have bought used, leased and purchased new.

I'd recommend buying a new-used vehicle (one just out of lease). Best bang for the buck. But the satisfaction of knowing no one jacked with your car is what made me buy new. Plus I got employee pricing, plus incentives, and I paid them both off within 2 months, minimizing the interest I paid. I plan on keeping my truck for 10 years and the car for probably at least 5.

 

[OutHouse]

so i just talked to the guy on the phone about leasing a new infiniti to my wife (she's at the dealership right now) ...

$2000 down, $480/month (or something) for 39 months, 12000 miles a
year. and at the end of the terms, it will be a $23k buyout.

ffuucckkkk that, told her NOT to do that shit.

i thought she was talking about leasing a 2008 car (the model she's looking at purchasing) not the brand new ones. thought it would be taking over someone elses lease or just a lease on a used car. but no. no way in hell she's going to do that.

your wife is looking at infiniti's and you are talking about a 200 month payment?

thats why asked you what car are you looking at to get a 200 a month payment. even a 2008 infiniti is not in that ball park.

you really need to spend a few weeks researching this i dont think you understand the cost of a car in relation to the monthly payments.

a 200 month payment is about a 9,000 car on a 4 year loan. in other words that is a 2004 toyota matrix not a 2008 infiniti. i know this because i just bought a 2004 toyota matrix for my 18 year old daughter and she is paying me back.

 

[Hugo Drax]

it's not the transmission I don't think. but i have not done any maintenance to it since I got it at 24k miles, other than oil changes. but it's starting to do some odd stuff like sputter a bit if I try to floor it in 3rd or 4th gear. not even floor it, but just get a fast speed up like I usually do. i let off a bit now when I accelerate because of it. i've also been having an issue where my car won't start up right away when I turn the key. like it won't chug right away, but if I hold it there it will start chugging and then start up.

Sounds like 200 bucks worth of repairs. new spark plugs and cables, maybe a new battery and or starter.

 

[purbeast0]

your wife is looking at infiniti's and you are talking about a 200 month payment?

thats why asked you what car are you looking at to get a 200 a month payment. even a 2008 infiniti is not in that ball park.

you really need to spend a few weeks researching this i dont think you understand the cost of a car in relation to the monthly payments.

a 200 month payment is about a 9,000 car on a 4 year loan. that a is a 2004 toyota matrix. i know this because i just bought one for my 18 year old daughter and she is paying me back.

no offense but you are really struggling to read the thread. what my wife is looking at and the $200 payments i was talking about are not even related.

 

[purbeast0]

Sounds like 200 bucks worth of repairs. new spark plugs and cables, maybe a new battery and or starter.

definitely not the battery, as i've replaced it last year. but im going to take it to the shop next weekend and have em check it out.

 

[spidey07]

no offense but you are really struggling to read the thread. what my wife is looking at and the $200 payments i was talking about are not even related.

You mentioned wanting/looking at a 200 month payment and now she's out looking at 45-50k infiniti at those payments.

Be careful, you're about to be trapped into the lease nightmare where you'll emotionally justify a 500-600 buck car payment every month for the rest of your life. "It's just 500 bucks a month and not that much money, I deserve to drive this really nice car".

 

[Genx87]

Leases seem like they could be a decent deal until you see the fine print of 3500 down to pay 300 a month. It is a genius way for car companies to get users to pay for depreciation on their product.

 

[OutHouse]

no offense but you are really struggling to read the thread. what my wife is looking at and the $200 payments i was talking about are not even related.

i guess i cant read or you are a poor writer.

and the $200/month or so that would be the payment just does not seem like it would be that much of a burden with our salaries.

 

[vi edit]

so i just talked to the guy on the phone about leasing a new infiniti to my wife (she's at the dealership right now) ...

$2000 down, $480/month (or something) for 39 months, 12000 miles a
year. and at the end of the terms, it will be a $23k buyout.

ffuucckkkk that, told her NOT to do that shit.

i thought she was talking about leasing a 2008 car (the model she's looking at purchasing) not the brand new ones. thought it would be taking over someone elses lease or just a lease on a used car. but no. no way in hell she's going to do that.

Go off lease on those. She looking at G's? You could probably go CPO with 30,000-40,000 miles on there for around 20k-25k and wind up with an even better warranty than the original.

http://www.infinitiusa.com/iapps/cp...eage=Any&engine=Any&drive=Any&onlyPhoto=false

 

[thomsbrain]

Leases are for people who never drive, yet somehow think they need a new car every two years.

 

[purbeast0]

You mentioned wanting/looking at a 200 month payment and now she's out looking at 45-50k infiniti at those payments.

Be careful, you're about to be trapped into the lease nightmare where you'll emotionally justify a 500-600 buck car payment every month for the rest of your life. "It's just 500 bucks a month and not that much money, I deserve to drive this really nice car".

i said that me personally would consider a $200/month payment if i was looking to lease one, i never said she was considering that.

 

[purbeast0]

i guess i cant read or you are a poor writer.

then i am a poor writer, my bad. i didn't mean to lump that into her situation. when i wrote down earlier in my hypothetical situation, that is where i was referring to the $200/mo.

 

[OutHouse]

ok thanks for clearing that up.

i hope your wife doesnt let the sales guy sucker you into a god awful situation. you really should ask her to come home and go down together after the holidays. if she needs a car rent one until you two can make the decision in person together.

 

[purbeast0]

no she isn't leasing for sure. she is pretty set on a 2008 G35 with like 10k and some change miles. she said asking was $28000 and got it down to $27500.

 

[alent1234]

you're going to buy a 2008 car for $27500? hope you pay cash