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Lease vs Buying car question

Does anyone lease? Is it a good idea or not? I haven't gotten much info on it but know a few people that do it. We are looking for a new SUV and were wondering if leasing was lagit or if its just a total rip off

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staciaw

Asked by staciaw at 7:13 PM on Feb. 20, 2011 in Shopping

Level 9 (365 Credits)
Answers (8)
  • We are leasing our Honda. It was a good option for us because we did not want another loan right now and needed a new car. You can only put a certain amount of miles on it and have to keep it in good condition though. You can buy the car when your lease is up if you want, and the resale price is ver reasonable. That is what we will do, in our case it's kind of like a lease to own. Otherwise, you just return your car at the end of your lease and get a new one.
    Anonymous

    Answer by Anonymous at 7:17 PM on Feb. 20, 2011

  • I think its a rip off and a waste of money.
    mamaofficer

    Answer by mamaofficer at 7:18 PM on Feb. 20, 2011

  • Not so much a rip off but I do think waste of money.
    mamaofficer

    Answer by mamaofficer at 7:21 PM on Feb. 20, 2011


  • We have leased several vehicles but are going back to buying. Leasing is legit and you can get a nicer car than you might be able to afford to buy. however you will have to put a down payment down more often than if you are buying. If you go over miles you will pay. If you don't buy dent and damage insurance you will be charged for dents, brakes you didn't replace and tires if balding. That said it is fun go get a new car every 2 to 4 years.

    Personally though we decided to stretch and pay the higher purchase payment this time with plans to keep the vehicle as long as we can. I was unhappy using our income tax refund on cars just about every year and we owed a couple grand on over miles at our last turn in.
    jamesonjustines

    Answer by jamesonjustines at 7:21 PM on Feb. 20, 2011

  • We leased a car only when it was part of my husband's business and it was a business expense. It is wiser to buy, IMO. If you lease you do not own the car in the end.
    elizabr

    Answer by elizabr at 8:36 PM on Feb. 20, 2011

  • Buy. When you finish your lease, you still have to buy the car or lease another. When I finish my loan, I own my car. I can keep it for several more years without mileage penalty.
    jesse123456

    Answer by jesse123456 at 9:52 PM on Feb. 20, 2011

  • Leasing vs. Buying a Car
    Is it better to lease or buy a car? We take a look at
    the pros and cons of leasing versus buying a car.

    musicmom08

    Answer by musicmom08 at 10:20 PM on Feb. 20, 2011

  • Save up and buy, don't lease or finance anything. If you can't afford to buy the vehicle with cash on hand, you cannot afford a payment.
    SnapdragonSMT

    Answer by SnapdragonSMT at 12:02 PM on Feb. 22, 2011

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