I am about to acquire a new car. Can anyone tell me the advantages and disadvantes of either one? I also want to know your experiences in leasing cars.
2006-07-22 14:34:54 · 10 answers · asked by alandicho 5 in Cars & Transportation ➔ Buying & Selling
BUY Advantages: It is your car to do whatever you want such as customizing etc; You can drive it when you want to and as many miles as you want.
BUY Disadvantages: Monthly payments a little higher.
LEASE Advantages: If you don't plan on driving this vehicle everyday you don't have to worry about going over your miles; You can turn it in and get a new vehicle every year or buy it and keep it.
LEASE Disadvantages: You are allowed to drive around 12,000 miles per year, 1,000 miles per month, 250 miles per week, 35.7 miles per day. If you break the lease rules the dealer can take the vehicle back. If you go over the mileage, you have to pay so much per mile over. Limited customizing. The lease payments are not the same as your post-lease payments. Leases are hard to trade if the vehicle is not in excellent condition inside and out.
Top 5 Vehicles to Lease:
1. All Cadillac's.
2. All HUMMER's.
3. 2007 Chevrolet and GMC full-size SUV's.
4. Pontiac cars.
5. Chevrolet Corvette.
Top 5 Vehicles NOT to Lease:
1. All Fords.
2. Toyota cars.
3. Chrysler 300.
4. Mercedes-Benz.
5. Land Rover.
2006-07-22 15:10:17 · answer #1 · answered by ROCK 3 · 4⤊ 0⤋
I am leasing a car for the first time ever.
I wanted a nice car with lots of bells and whistles. I have a 3 mile round trip commute to work and since I am employed at a dealership, I will likely never keep a car more than a few years.
I am leasing for 3 years, which means my car will never be out if warranty.
I do not reccomend leasing of you drive more than 12K miles per year, if you work or drive in a place where you will get a lot of paint blemishes or door dings or if you tend to make a mess of your vehicle interior.
Here is a website to answer any question you may have
http://www.autohopper.com/resources/articles/leasing_a_car.asp
2006-07-22 15:04:40 · answer #2 · answered by msdagney 4 · 0⤊ 0⤋
Buy it. Leasing ends up being more expensive. It limits the number of miles you can drive, assumes the car will be worth a set amount at the end of the lease (most domestics aren't), and requires you to keep VERY good care of it, or you get penalized.
The rates sound attractive, but unless you owna company that you can lease it through, BUY IT.
2006-07-22 14:39:15 · answer #3 · answered by artsy5347 5 · 0⤊ 0⤋
If you drive over 12,000 miles a year leasing is not for you, the upside is you always have a new car and it's under warranty, payments are about half the price of buying, try it one time and if you don't like it you don't have to do it again.
2006-07-22 14:42:10 · answer #4 · answered by mister ss 7 · 0⤊ 0⤋
don't lease, at the end of what every term of time you agree too, you can't pay a whole bunch at once that you half to give back the car, to the dealer who resells it. leasing is for business reasons not for everyday people. uncle leased and at the end of the lease contract, they wanted 5000.00 in cash to keep the car, he lost it back to the dealer after 4 yrs of payments at 450 a month, and you have to have full coverage insurance too
2006-07-22 14:42:03 · answer #5 · answered by Mr D 3 · 0⤊ 0⤋
Purchase! The lease is only "renting" the vehicle!
2006-07-22 18:20:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋
most of the people i have ever known that had a lease were not happy with it...and the #1 complaint is usually the amount of miles your allowed to put on it without racking up more charges....so i guess it would depend mostly on how much u plan on driving it....
2006-07-22 14:38:52 · answer #7 · answered by Anonymous · 0⤊ 0⤋
in case you desire to purchase the valuables with a hire selection, no longer a hire purchase, in this lending climate, the banks are uncertain. to grant your self with protection as a hire selection customer: *Have all reinspected (subtracted from) to the destiny exercising fee. *Have the exercising fee tied to a sparkling appraisal sooner or later. you do no longer desire to purchase a depreciating asset. *Have a memorandum of option to war of words against the valuables to evade the owner from re-mortgaging the valuables. *Open an escrow with a Sale and purchase contract crammed out different than for purchase fee and signatures - date *Have a lawyer look it over for attainable issues which includes what if the broker dies, gets sued, does not pay the PITI, etc.) each thing is negotiable in a hire selection. in case you're paying the PITI as a hire selection customer to convince the broker to sell to you, attempt to get a hundred% lease utilized to a help of revenues fee with the the revenues fee tied to a sparkling appraisal. do no longer lock in the revenues fee as we talk, extraordinarily if your industry is at present depreciating in fee.
2016-10-08 05:23:33 · answer #8 · answered by catherine 4 · 0⤊ 0⤋
purchase best. NOW-a-days, most banks lending loan to purchase car. hence you can take loan for it, then repay the amount instead of paying rent on lease.
2006-07-22 14:45:56 · answer #9 · answered by prince47 7 · 0⤊ 0⤋
you can only put on so many miles w/ a lease.
2006-07-22 14:41:22 · answer #10 · answered by baby11kc 3 · 0⤊ 0⤋