First off.....I am really loving the new VW Rabbit! It looks SO cute and fun! We are thinking about buying a new car (it will be mainly T's car) in about a year or so. Of course I REALLY wanted a minivan, and though my husband is not opposed to this - T. use to have an old VW Rabbit and was super excited to see them back! So I guess the minivan will have to wait!
So here is my question....what is up with leasing a car? Terry is totally against it and believes it is a waste of money....but I see/hear about many people who lease cars. I guess I just don't understand exactly the benefit of leasing? Also, I know you can purchase it after your lease is up....do you end up spending more money leasing and then buying compared to just buying?
When I bought my car a few years ago leasing wasn't even an option because it was our main car and I have to drive about 40 miles to and from work everyday. So I never looked into it more. But Terry drives maybe 14 miles a day to and from work and that's it. (If this even makes a difference)
I guess I just wanted more information on why so many people lease and the benefits (or the lack of benefits)......mainly out of curiousity. So if anyone has leased a car or knows anything about leasing - please share!
P.S. I also LOVE the new Honda CRV. Alot better than their old one! I would totally consider that one as an option in a couple years!
We leased our last car and will never, never, never do it again. I will tell you about it I see you. (I have bought three new cars and leased one, so I can give you both sides.)
ReplyDeleteI think the only time it might be a good deal to lease is when you own your own business and need the write off. Other than that I would run from it.
ReplyDeleteI just got myself into my first lease this past August, after purchasing 2 cars.
ReplyDeleteMy reason was this...the last two cars I had I was ready to get rid of before I was done paying them off. I just got sick of them. Since I hadn't finished paying them off, I really got nothing out of them when I traded them in. So, this time I decided to sign a 39 month lease, knowing that I'd probably get sick of this car just like my other ones.
The way I look at is it this...I know that I am just not patient enough at this point to "drive a car into the ground." I know I'm going to want something newer and better in a few years. And right now, I can afford to have a car payment. So, why not lease? Why not set myself up to get a new car in 3 years? Sure, there will come a point in my life that I will buy, and hopefully will drive that car long past it's payoff date, but right now I'm just not there.
I leased my last three cars. I've never had a problem and love getting a new car every 3 years.
ReplyDeleteI will say that you have to do your homework. Some cars lease better that others. The term length also changes the amount you pay per month.
Leasing always has a cheaper monthly payment. Sometimes significantly. You can buy out your lease at anytime if you decide you want to buy it.
I would not recommend leasing for over 39 months, and if mileage is an issue you can increase it. I always had 15K per year. If you don't drive over 12K per year don't worry about it.
If your the type to drive cars into the ground don't lease. Your best bet would be to buy something that you can afford and pay off early if you can.
If you want more info email me.
THANK YOU for the comments! it seems like it is divided....we will have to look into it more to see exactly what we want! i really appreciate the advice!!!
ReplyDeleteI am a little late commenting on this one. I agree with C. I am leasing a Jeep right now and love it. I think the biggest thing you have to worry about is the mileage.
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