- This topic has 17 replies, 12 voices, and was last updated 13 years, 6 months ago by .
-
Posts
-
i wanted to know if anyone knows if its more worth it to buy a car or lease a car if u have the money to purchase it.
Th disadvantage of leasing a car is that by the time your 3 year lease is up, you have basically paid the car’s purchase price, and you don’t get to keep the car. Which is why I recommend buying a car over leasing one. However, if you’re the type of person who likes to constantly have the latest car model, leasing may be the way to go.
In 1996, we bought a new minivan, and it gave us 8 years of hassle-free use, and another 4 years of limping along (engine trouble, electronic things not working, ect)
The end came when the engine sprung a leak that our mechanic said would cost more to find than the car is worth… and even then he could not guarantee the engine would run normally.
All told, (repairs, extended warranties, ect) we figured the 12 year cost to be $30,000 ($2500 per year over 12 years). And we were married to a van that was dying a little more each year beyond year 8.
This time we leased a new minivan @ $350 per month ($4200 per year). So for just $1700 a year, we have the freedom to switch to a car that is hassle-free all the time, plus the fact the in 3-4 years from now, should we need a car instead of a minivan (our son will hopefully be in shidduchim by then!) we have the flexibility to move around.
Not to say that $1700 is chump change, but it the scope of things, we felt it was well worth it
Best tatty- I agree with you. Leasing is more expensive but worth it.
Smart cookie –
The Mods must have been asleep at the wheel, becuase you called me “best” instead of “BP”
EVERY totty is the best totty (or at least, is trying his hardest to meet that goal!)
The Mods are wide awake.
We try not to eliminate nice compliments.
OK, OK, you’re not asleep. But I had to stick up for the other Tattys (You’re right though.. I did not need to take a pot shot at mods.. Sorry!
You can’t base a conclusion on a single anecdotal occurence.
Generally, leasing new vehicles insures only that you pay the highest cost for the use of that vehicle.
-rsr- (who drives an 11-year old Subaru, and Mrs. R drives a 13-year old Subaru)
There’s a program out there called “Turn Debt Into Wealth” or something like that. I got it on a 30-day free trial. Okay, I’m not wealthy yet, but I did get out of enough debt to be able to return to EY.
Anyway, John Cammuta, the (millionaire who sells this program) recommends only buying. Not only that, he recommends only buying used cars.
Of course, you can always do what I did – move to EY and depend on Egged. 🙂
just wanted to add one thing. leasing is not an option for everyone. if you go over on your miles you are charged an arm and a leg. if you work far away enough from your house, this becomes a real issue. we cant lease a car for that reason, and every few years we buy a new car.
One neighbor of mine bought a used car for about 250 and put in another couple of hundred or so into repairs.
For that amount, the car lasted about 3 or 4 years.
There’s also the issues of external & internal damages that you caused the car while under the lease.
word of the wise i would definately go with the year old. But everyones situation is different. We drive alot have alot of drivers in the family. We leased a car once it was a hugh mistake. We could never take that car anywhere cause it never had miles. They do have programs where you can turn a lease in early if the miles get too high. You have to see whats best for you. I did buy year old a few times and did great with that. If it doesnt have too much milage and you have a good manufacturers warranty you should be ok.
When buying used, what’s the maximum mileage the used car should have?
Also, any input on good minivans would be appreciated. We’re not looking for one that’s “loaded”, just one that runs well.
200,000 miles is the new 100,000 miles
We just replaced a 13-year old (*happy bar mitzvah*) Subarau with an 8 year old Subaru with the same mileage.
So much depends on the maintenance and use of the car. Most of today’s engines and drive trains are built superbly, and should last at least 200,000 miles. Many other things, such as electronic controls for windows and door locks, go with age, regardless of the mileage.
- You must be logged in to reply to this topic.