If you had $10K, would you buy or lease a car?

Question

I only need the car for a few years for school and might live in a city after I graduate. I would need to use my savings for the remainder of the price whether buying or leasing. I can lease a nicer car with 4WD.

Answer 1

Buy. Leasing is a huge scam.

Answer 2

For you buying or leasing question, you really need to include the type of car you are wanting to purchase.

Everyone so far seems to be telling you to purchase the vehicle, but you need to understand what you are purchasing.

When you lease a vehicle you are purchasing the "depreciation" of the vehicle over time. (The time that you are using the car). Yes you have to either return the vehicle or you can purchase the vehicle at a later point in time for the depreciated cost.

Leasing typically allows you to get more car for less money for a short period of time because you are only purchasing the depreciation.

Purchasing means you are actually attempting to own the car, but if you read many people on this board, they got in over their head by purchasing a nice car, but now find they owe more money than the car is worth. It means the car depreciated faster than the money they put into the car and now have NEGATIVE equity, and owe more money than the car is worth. Meaning they have to pay thousands just to give up their car.

Things people forget.
Always negotiate the price of the car, weather you lease or purchase. Just because you lease doesn't mean you can't negotiate the cost of the car. If the dealership give you crap about not being able to negotiate, go somewhere else they are lying.

The criteria you gave about yourself lends itself toward leasing. Especially if you don't plan to need the car in the near future and if you don't think you'll put excessive mileage on the vehicle.

Just remember what someone above mentioned, a lease usually has a cap on the mileage you can place on a vehicle on a yearly basis. Cheaper to purchase more miles up front than pay for excess miles later.

Answer 3

if i were you i would buy car. Yes you would get a nicer car if you lease but with leasing in four years you'll have to give it back. And if you go over the certain amount of mileage you get charged additional money. So the question would be: Would you want to keep it after you get finished with school and are you going to be doing a lot of traveling back and forth to your folks house?

Answer 4

Well I used to work for a leasing company & would highly recommend it! If it's a new car then this is definately the way to go, cars lose so much of their value the minute they've left the garage. You'd be amazed at the quality or vehicle you'd get at 1/2 the price!! Go for it!!

Answer 5

Definitely buy the car. Leasing is a lot more expensive than it seems.

Answer 6

I would buy just because then it is yours, when you are don with it you can trade it in for a better car. If you lease you do have the option of buying it after your lease, but car payments IMO are a burdon. Less hastle when you buy.

Answer 7

Buy a car. Leasing isn't worth it they will screw you when you take the car back if you don't want to purchase it.

Answer 8

buy a car or leasing is more expensive n also depends hw boyant n maintainance u can afford.

Answer 9

Thats a very important dessision.Think about all the ins and outs of both what ever you deside.That my friend is a desion only you can answer.Good luck.

Answer 10

Buy!