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Buying vs. Leasing
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<blockquote data-quote="Retired Educator" data-source="post: 163298" data-attributes="member: 3373"><p>I have done all of the different buying styles, Used, New, and Leased. I would agree that a good used, 1-2 year old vehicle is the best option. The problem is that those are not easy to find. Lots of pickups in the 80-100,000 mile range, not so many with less than 20,000.</p><p> </p><p>I wish I had never heard of leasing. Probably a better deal for someone who can write-off the lease expense with a business. For me the difference between leasing and buying was on a lease you pay nothing down and owe at the end of the lease, or turn back in and you have no vehicle, or pay the difference. Purchasing, you pay more up front and at the end you own a vehicle. In most cases the amount of money you spend will be about the same. Those writing leases know that amount you will pay and it will be about equal.</p><p></p><p>Purchasing new might not make financial sense but I worked long and hard to be in the position where I can buy a new one every 5 or 6 years, usually trade in the 80-90,000 mile range. When I was younger and a family at home it was always used. Now I like that new-car smell and my kids asking how I paid tor that. </p><p></p><p>The short answer for me would be Used when you have a family to support, Lease possibly if you can write off the lease as an expense, and New when its feasible so the younger guys with families have something to buy when you trade.</p></blockquote><p></p>
[QUOTE="Retired Educator, post: 163298, member: 3373"] I have done all of the different buying styles, Used, New, and Leased. I would agree that a good used, 1-2 year old vehicle is the best option. The problem is that those are not easy to find. Lots of pickups in the 80-100,000 mile range, not so many with less than 20,000. I wish I had never heard of leasing. Probably a better deal for someone who can write-off the lease expense with a business. For me the difference between leasing and buying was on a lease you pay nothing down and owe at the end of the lease, or turn back in and you have no vehicle, or pay the difference. Purchasing, you pay more up front and at the end you own a vehicle. In most cases the amount of money you spend will be about the same. Those writing leases know that amount you will pay and it will be about equal. Purchasing new might not make financial sense but I worked long and hard to be in the position where I can buy a new one every 5 or 6 years, usually trade in the 80-90,000 mile range. When I was younger and a family at home it was always used. Now I like that new-car smell and my kids asking how I paid tor that. The short answer for me would be Used when you have a family to support, Lease possibly if you can write off the lease as an expense, and New when its feasible so the younger guys with families have something to buy when you trade. [/QUOTE]
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