im looking at getting a car sometime this year and i already know that i want a chevy tahoe, but what im wondering is what is the better thing to do, buy or lease??
2007-08-27 12:31:53 · 12 answers · asked by yoliepolie18 2 in Cars & Transportation ➔ Buying & Selling
It is better to buy. If you lease a car, you do not own it and are responsible for anything that happens to it. If you spill a drink in it, you will have to pay to have it cleaned. If you gt a door ding, you will have to pay to get it fixed. Scratch......same
If you drive it too much, you will have to pay per mile.
I leased a vehicle before BIG MISTAKE
2007-08-27 12:37:38 · answer #1 · answered by mybuttstinks2001 5 · 3⤊ 4⤋
There are very few conditions under which you are better off leasing. Many finanical advisers refer to it as "fleasing". If you are intending to replace the car within 2 years, and you are not going to put very many miles on it, it might pay off. All too often, however, people go over their milage limit and have to pay big time (or they end up with a car they can't afford to use because they can't afford to put an more miles on it). Car companies push leasing so much because it maximizes their profits. If you lease and then figure out this going to cost you too much and you decide to buy out the car, you end up buying the car for a couple of thousand more than you would have paid if you bought it out right in the first place. Everyone I have ever known who has leased (maybe 6 people) said it was a bad deal and regret having done so. Every financial adviser I have ever heard strongly discourages it.
2016-05-19 21:06:07 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Leasing can save you money if you plan on buying a new vehicle every few years, don't go over the mileage limits and have good credit rating. You save the down payment of 20 percent and the payments are lower...the downside is that after the lease is up, you don't own the car---it's like renting a house versus buying. If you're the type that likes to trade every few years or get bored driving the same vehicle, leasing may be a good way to go. If you don't mind paying a little more and being done making payments after 3 or 4 years with a paid-off vehicle, it might be better to buy. Just make sure to do your rearch on all the variables of leasing.
http://www.rh.edu/~stodder/BE/BuyLeaseCar.htm
2007-08-27 12:49:19 · answer #3 · answered by paul h 7 · 1⤊ 1⤋
Unless you're over 25, most companies won't consider leasing to you. If you are, a lot depends on how many miles you drive. If it's over 12,000/year, probably not. Also leases require higher insurance coverage. Get all the details before you try getting your truck.
2007-08-27 12:44:01 · answer #4 · answered by DCG 2 · 0⤊ 0⤋
Unless you know that you will not drive a lot of miles AND that you will want to get rid of it when the lease is up, do not lease. Leasing is like renting your vehicle. I have leased and purchased and I lost a lot of money every time I leased because I had to pay extra for the overage on miles and had to buy extra damage insurance because they charge you for dings and scratches when you return it Hope that helps.
2007-08-27 12:39:58 · answer #5 · answered by Peppy Lover Gal 2 · 2⤊ 1⤋
well the best thing is to buy a car, because if you lease one then you basically have nothing to show for the money that you are spending on it, not to mention if you go over the miles that you are given w/in the price of the car, it could be pretty expensive. So my advice, buy a car, that way you dont have a set limit of miles to be able to drive it and you also have something to show for that you bought with your own money. Good Luck. :)
2007-08-27 12:38:41 · answer #6 · answered by Tammy B 1 · 2⤊ 1⤋
Ask yourself this. How many other things do you pay for everything on and then give it back at the end.Nothing right? So why lease a car? It's the same thing.
2007-08-27 12:43:00 · answer #7 · answered by Anonymous · 1⤊ 1⤋
Lease.
Cars, new cars especially, lose value over time. If you purchase a new car, you are making payments worth the full value of the car even while the car becomes worth less and less. If you're going to buy a car, get a used one. You'll save a lot of money off the new price even with a car only a couple of years old.
2007-08-27 12:38:49 · answer #8 · answered by OpNickC 3 · 0⤊ 3⤋
Leasing only benefits one faction: the Dealership! What with all the specifications, fees, penalties and conditions applied, the leasor (you) gets ripped off. You're better off trying to purchase a smaller vehicle and owning it outright. Especially, consider if you have an accident or have damage done to it not your fault, you're still liable.
If you don't believe me, call your ins. agent and ask them.
Lease offerers paint a pretty picture but in reality, bad idea. You lose all the way around.
2007-08-27 12:41:13 · answer #9 · answered by bpgagirl22 5 · 2⤊ 1⤋
NEVER lease, if you are and individual person, leasing is for corporations and business owners who can write off the car in their taxes.
If you lease you are going to lose the money and the car.
Leasing a car is for posers who want to make the neighbors believe they have money.
2007-08-27 12:41:40 · answer #10 · answered by wazup1971 6 · 1⤊ 2⤋