Cars; Leasing vs Buying

[moosmom]

I was told that if you drive alot, leasing is not for you. They estimate that you drive 12,000/year. You go over that and you get hit with other charges.

I've always bought my cars and keep them till they die.

[smokey the elder]

A lot of places have "certified pre-owned" vehicles. My one and only brand new car probably lost 3 grand in value when I drove it off the lot. 15 years ago a bought a Corolla with 19K on it. I drove it until it had 190K (11 years), sold it to a mechanic and it's still bumming around 4 years later.

[cyber-sibes]

I've leased, bought new, and bought used.

If you keep your driving within the contract limits, I think leasing has some pluses. It's the dealership that deals with any problems, not you. Routine stuff is usually covered, so the car is maintained well. In most cases, leasing is actually a cheaper monthly cost than purchasing. With a lease, you always have a nice reliable vehicle.

Cars are not money-making investments (unless you are a collector). Buying new means you loose thousands of dollars as you drive it off the lot. Buying used is great if you get a decent vehicle & don't run into major problems, and you have the vehicle longer than it takes to get it paid off.

Bottom line, for a reliable vehicle, you're going to put out apx. the same for a lease or a used vehicle + it's repairs, so it's a wash in my book. That's been my experience.

Good luck!