Do you lease or buy?

[lute]

buy. i bought my car at a yard sale of all places for $3,000. it's a silver '93 Lincoln Contnental. it's a nice forst car, but definatly want to sell it and buy a pick up truck or something i can keep more than one dog crate in.

[chrangharris]

We buy and only what we can afford with cash! We have two cars both totally paid for. We have a nest egg going for our next car- which will also be with cash

[Rachel]

We buy and only what we can afford with cash! We have two cars both totally paid for. We have a nest egg going for our next car- which will also be with cash

I just have to give you an *Atta Girl* for that.


Pam, in addition to the reasons others have already stated, the thought of reading and deciphering a *lease agreement* is enough to nix that idea. For me buying is the only way to go.

[Aspen and Misty]

We buy and only what we can afford with cash! We have two cars both totally paid for. We have a nest egg going for our next car- which will also be with cash

The same goes for our family. We bought one care with a loan and never again. Our second car was payed for in cash and we are currently buying our third car and it to will be paid with in cash.

Ashley

[zippy-kat]

Buy.

The first two were actually bought for me (#1 a clunker, #2 a HS Grad gift). The third was sort of a half-and-half deal, dad bought it to replace #2 and also as an early college graduation gift but I had to take over payments upon graduation/FT employment. Last year, I bought #4 and I couldn't be happier with it! I traded up 4 years and only increased my payments by about $30.

[smokey the elder]

I drive almost 400 miles (640 or so km) per week, so I'd get burned by the mileage. I'm in the buy new or lightly used, drive it until it falls apart (well over 100 k miles) school.

[Maya & Inka's mommy]

I voted "buy", but in fact it is both.

My car: we bought it new, 6 years ago now.
My hubby's car: is leased by the firm where he works. He gets a new one every 4 years.

[captain]

I Voted "lease" - for my car.

Here is Australia, you can Salary Sacrifice on your salary PRE-TAX if you lease a vehicle, plus I do huge mileage everyday, so I took out a lease that allows that.

My lease is up next year, and I have elected a lump sum payment at the end - which is so small, that I know if I wanted to sell it, I would make almost triple what I paid.

Plus, it has been great for me with Tyres, Petrol (what, with the price going up here all the time, and all the incidentals)

However, all previous cars, and my husbands business cars have been bought.

I can see the benefits from both sides

[pnance]

I voted buy. Mileage alone would kill me, I dirve 80 miles a day just to work, besides I'd rather have something to show for the money I've paid at when I'm done. My mom has leased her last couple of cars and 8 year later, she's still paying the last one off, since she decided on a lump sum payment to buy it after the lease ran out.

[ramanth]

I drive a lot so I buy.

[Tubby & Peanut's Mom]

I work for a company that leases equipment to customers. So, I am very aware of the ins and outs of leasing, and exactly where the $$$ goes. I think it is safe to say that I personally will never lease anything. I WILL say that in certain situations, leasing is perfect. But, for the everyday customer, the company that you are leasing from is making a LOT of $$$$. (And from the selling perspective, I love leases!!)

I don't work for a leasing company, but what's stated above has been my feelings about leasing for a long time. In my opinion, for the normal average driver, leasing is NOT a good idea and I think I would have a hard time justifying leasing under ANY conditions.

Also, Terry and I ONLY buy used vehicles. The people who buy a new vehicle every two years are really throwing their money away because of the big depreciation hit cars take in the first few years. So what we do is let them pay the high new price - or better yet, we let them lease it - then two years later after they've either traded it in on a new one or their lease has ended, Terry and I come along and buy a perfectly good, practically brand new car for about 1/2 the price. Like Changharris, buying this way also makes it easier for us to pay cash, making the purchase even easier to swallow, and allowing us to spend the money which would have been spent on interest on something WE want......like a nice big motorhome.

In my opinion, cars are only an expense. They are a necessary evil, but are a depreciating asset so the least spent on them the better.

[Lizzie]

I bought a new car through my credit union and a year later took out a home equity loan with the same bank, paying off the car loan. So the car was all mine only a year after starting to make payments, the amount I still owed on the car became tax deductible and the car is equity. I think you would have to shop around very carefully and do a lot of of research to lease a car in a way that was more financially sound than buying one.

[Logan]

I am certain that you and Wade already know the answer to this question, Pam, but I had to throw in my vote. BUY and if you can keep from financing anything, that is the way to go!!!

I leased once, but it was a mistake. I was putting so many miles on the car, I ended up buying another one so I could park the leased one!

Logan

[Edwina's Secretary]

On this theme....I am very excited. Today my odometer will turn over to 100,000 (it is at 99,997 right now.) I have never kept a car that long!

[Pam]

I am really so surprised at the way the poll is going in this thread. At work I feel like the odd man out, being the only one who doesn't lease. Here I feel like *one of the gang* for the most part.