Generally speaking, fixing your car saves you more money in the long run than getting another one... especially a new one.
That said, I think leasing is a great option. Blah, blah, blah, you won't have anything to show for it at the end, blah, blah, blah... Most people trade in cars ever few years anyway... so what did they get at the end of that deal? Less money in their pocket because they had higher payments. And more often than not, they trade that car in on the new one and rarely downgrade... they pay more money every time = waste of money.
AND... if you plan on owning the car forever, leasing has its perks as well... For example, I did the math on my 5.5 year lease, with the option to buy at the end... and I will end up paying a little more with the additional 5 years to buy it outright at the end, than I would have buying it outright to begin with... HOWEVER, at the end of the lease I will only owe approximately 2/3 of the trucks value if I do decide to buy it, leaving me in good shape if I decide to sell it later... and my current payment is over $200 less than what it would have been to buy it in the first place.
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