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Posted: Sat Apr 10, 2021 5:25 am
I will need a "new to me" car in a couple of years. I know what I want and am doing the research already, with the goal of being debt free before I buy and then very aggressively paying the car off early.
After looking online, I received emails from a couple of dealerships ready to write up my invoice but quick! I did reply to one person who was very nice, and explained that I'm only planning ahead. Got a very nice response from him - so will quite likely deal with him when the time comes.
A couple people at work think I should lease - because I don't drive much. Another friend thinks buying new is the way to go. I get the "buy new" school of thought - I did that last time and will drive the car for 14 years (at least that's the plan).
This time however, I think the best bang for my buck will be to look for a used (4 or so years old - definitely Nissan again) vehicle with low mileage - maybe something that has been a rental. They exist - I've seen them online. I made that clear to the gentleman who contacted me and he was very respectful in his reply.
I can't really wrap my brain around leasing - I guess I don't completely understand the concept - you pay to lease a car but you don't ever own it? Then you upgrade so you're always driving a new car? That doesn't sound like it's for me.
Let's not debate, please, which is best - but I would like to know - have you leased, purchased new, or purchased used - and what do you find the advantages/disadvantages of your choice to be?
Re: Car Buying
Posted: Sat Apr 10, 2021 8:17 am
I personally have bought new and driven for 10 years except the Prius which I gave to my son and got myself a new car. It was 9 years old when it was totaled for a little over $200. Then he got a used Toyota Corolla.
While Married, we did get Ex a new-to-him Lexus 300x or something, the SUV, in about 2015. He is still driving it. We got it and handed down the Mini van to DS2 when he became of age. I originally intended to but a used car this last time. Something off lease, but as I researched them, the 2007 models had advanced safety features I decided I wanted. Still being slightly ADD, I want the lane departure warning.
I personally have seen too many people abuse rentals, so I'd look for something that had been leased and turned back in, but that works better for the luxury market. My Opinion.
Now if anyone wants to argue with the idea of providing a car for my son, here in Ohio, public transportation is very spotty, the school system we were living in suspended bus service for High schoolers when a levy failed and never re-instituted it. And with 2 parents working, band practice after school, a car for the kids to drive was important. (and Frankly, it was do-able for us).
As for leasing, I drive too many miles to consider it. My Daughter-in-law and her family tend to lease, but having a family business, it is a business expense they can write off a portion of. DIL does have to drive to meetings and project sites.
Re: Car Buying
Posted: Sat Apr 10, 2021 8:54 am
Here is what I have been told about leasing and my own opinion.
If you own a business leasing is great. This from relatives and friends.... If you ever want to own a car again don't lease. That last part is from relatives that started leasing and now can not seem to get off the leasing merry-go-round. You see you pay that all the time where as with a vehicle you buy you can pay it off and have that cash being saved for another one, or for something else like a motor cycle if you so choose.
Also if you drive over X amount of miles you will be charged extra. Not that that is something you need to worry about as you have stated.
I do not know your costs to lease, here in Canada the monthly leasing cost is almost as much as a monthly payment.
Speaking for myself I would buy a good used vehicle if that is what you choose to do.
Re: Car Buying
Posted: Sat Apr 10, 2021 9:38 am
We're of the buy new, drive them for years (or until the repair bills start mounting) camp. My current car is almost 13 years old. Think DH's was around 12 when it was totaled in a rear-end collision.
To me, leasing is a perpetual car payment, plus you still need to put $$$ down. (Though I suspect that's the only way people can afford it ... I just read a story that the average price of a new car is $40K!)
An off-lease car sounds reasonable. It's great that you're doing research and know what you want. I'm in the market, and thought I'd decided, then I started reading that the model is prone to transmission problems. So, back to the drawing board.
Re: Car Buying
Posted: Sat Apr 10, 2021 12:44 pm
We have had good luck buying used one-owner Hondas for DS. His current one is a 2015 Civic. For DH and I, we are buy it new and drive it forever people. He likes Nissans and I like Hondas.
Access to CarFax for ownership, maintenance, mileage and accident reports makes buying used a lot less scary than it used to be. We also bought the used Hondas through a certified dealership program, which adds some to the price but gives some buyer protection that the car has been checked out.
Re: Car Buying
Posted: Sat Apr 10, 2021 3:17 pm
The only people who benefit from leasing are the car dealership and the finance company. You own nothing when you complete the terms.
Buy used, low-mileage (you're not likely to find rental fleet stuff that's more than 2 years old, they usually rotate them out at 2, or if their mileage is excessive, before that) but sometimes you can stumble into a car someone babied and then flipped to get something newer to baby. DD's car was 2 years old, had 27000 miles on it and whoever (someone in TX) owned it had had lojack installed. Thing didn't even have a scratch on it. If all goes well she shouldn't have to worry about a vehicle for at least 10-12 years.
I'm related by marriage to a more-money-than-brains person who leased a big SUV once and changed the OEM front seats for some custom seats he had made (big, cushy, and embroidered with the logo of his favored NFL team). Then he had the nerve to be mad when the lease came to an end and he was charged extra to get out of it - because he'd modified the vehicle. He actually thought they would take the $ he'd put in it into account and charge him less on his final payment