NEED CAR ADVICE - Leasing vs Buying?

theDude24 · Sep 10, 2007

Ok, so anybody who has done this, or works at a dealership or something, let me know.

I have horrible luck with cars and my car died last week - totally done for.

So I am looking to buy/lease a car.

I have been looking at some Mazda 6, Acura TL, etc... used - between like 15-25 K.

I do have a few friends who are saying I should look into leasing a car - mainly so I don't have to worry about repairs.

Any advice from anyone?

Is leasing a bad idea or smart?

I look at leasing a car for 300-400 a month and 3 years from now I've spent 15K to have a car, but nothing to show?
Is this the wrong way to look at this?

However, if I buy a car for 15-20 K, pay it off in 4 years, I have a car, even though 4 years from now it'll be worth a bit less, and if it breaks I'm screwed.....

Any advice very helpful for a 23 year old who has never done this. Thanks

Brock Landers · Sep 10, 2007

Better term for Lease is FLEECE, don't do it

CookieNBabe · Sep 10, 2007

Leasing tends to be more expensive over time than buying if you are not benefitting by deducting the cost of leasing on your taxes. Mileage is another factor, if you drive more than 12,000 miles a year, leasing can get costly.

Type in "Leasing vs. Buying" into a search engine and the answers you are seeking should all be there in better format than I can type.

(retired car dealer)

theDude24 · Sep 10, 2007

thanks guys - looked up some articles online, still trying to figure out what to do....

otherwise - anyone have insight on good/bad car choices???

I'd like something nice/classy/sporty - like i mentioned earlier kind of ike Mazda 6 and Acura TL...

anybody like a certain kind or know of bad experiences with some?

Thanks

mr21 · Sep 10, 2007

I would only lease if you get a car allowance for your job. Otherwise, just buy a new Honda or Toyota and drive it worry-free for the next 10 years/150,000 miles.

juice · Sep 10, 2007

Acura TL is a money car, you will love it.

GreenDoberman · Sep 10, 2007

I'm car shopping currently now. If you are planning on keeping the car over 3 years, buying is your only option. Like other said, 99% of the time buying is cheap over time.

joeyfitzclick · Sep 10, 2007

Leasing is tax deductible.

neverbeanother#7 · Sep 10, 2007

Brock Landers said:
Better term for Lease is FLEECE, don't do it

Pretty much sums it up!

Syklone · Sep 10, 2007

Leasing is not a bad option if you want to drive something new or different every three years. If you do lease just don't put down much money (less than $1,000).

If you will keep a car for 5+ years, then buy it.

I think www.edmunds.com has buy versus lease calculation as well as what each car you are looking at will cost over time.

Also check out www.carbuyingtips.com. This site helped me a lot.

Good luck and enjoy.