please help me settle a debate between dh and I

[Melmomof2girls]

Dh and I have been having a debate for a few days.  He thinks that it is better to lease a car, rather then pay monthly payments on it.  I think its better to pay payments.  His reasoning behind thinking that its better to lease....bc "most major repairs happen after the first 2 years {when you no longer have a warenty} and you can just end your lease and get a different car".  My reasoning behind thinking that its better to pay the payments...Why pay x amount of thousands of $ for a car that you won't own.  You wont have anything to show for your money.

{none of this includes out right paying for a car bc for us that is not an option}

What do you think?

[dixiecharmer]

Sep. 14, 2009 at 12:58 PM

I bought a repo from a bank and saved $2000 below the blue book value,  A car deprecates when you drive it off the lot.  I looked for a car  that was 4 years old, which have dropped in price the most.  I have not had a break downs and it was still under warranty,.  I have drove the car for 3 years, the bank carried the loan for us.  A bank loan is cheaper than an auto loan.  But I also have an 11 year old Taurus, that my son drives, it has had only had one problem that cost less than $200 to fix.  Less than a car payments.  It has saved us a lot of money, cheaper insurance, no payments.

Take your husband and talk to a financial office at your bank for advice.  Your husband might be surprised about why it is best to keep a car for 6 years or more.

[deadheadjen]

Sep. 14, 2009 at 1:21 PM

Buying a used car (preferably just off a lease) is the best option.