Leasing vs buying - Page 2

racedoll · 01-03-2011, 09:10 PM

Quote:

Originally Posted by Amber Lamps

Well to hell with him, why don't YOU come and visit...

Actually, I do care. I don't want him to get a crappy car, but I don't think yours would be.

I try to get work to send me back down there, but so far they haven't.

Amber Lamps · 01-03-2011, 09:56 PM

Quote:

Originally Posted by racedoll

Actually, I do care. I don't want him to get a crappy car, but I don't think yours would be.

I try to get work to send me back down there, but so far they haven't.

You want I should talk to them?...

Captain Morgan · 01-03-2011, 10:25 PM

Quote:

Originally Posted by racedoll

I'd say if you can find a cheap used car to pay cash for, go that route. Then you only have to have liability on it. If you lease, then you'll be required to show full coverage. Just another way to save a bit more money.

Porkchop - I'd drive you down to pick up AL's car.

I agree with racedoll. Do NOT buy a new vehicle, let alone lease one. There is absolutely no reason to go into debt, especially when you're only making $1100 a month. The bump in pay is not for certain. If I were you, I'd save as much as possible while driving that car into the ground. When it bites the dust, buy as much used car as you can afford to pay cash for. Do NOT go into debt on it. If you happen to have 2k saved up (plus the air fare or gas money for racedoll), then consider AL's offer after talking to him and doing some research on those cars.

Also, get an idea of how much insurance and tags are going to cost you. No reason to go into it blind.

And if you need more reason to not go into debt, check out www.daveramsey.com or check out "My Total Money Makeover" from your local library.

Tsunami · 01-04-2011, 12:13 AM

I say drive it to the ground. You may be surprised and have it last longer than you expected. I have been waiting for my car to die for the past 5 years +

101lifts2 · 01-04-2011, 01:24 AM

Quote:

Originally Posted by Captain Morgan

I agree with racedoll. Do NOT buy a new vehicle, let alone lease one. There is absolutely no reason to go into debt, especially when you're only making $1100 a month. The bump in pay is not for certain. If I were you, I'd save as much as possible while driving that car into the ground. When it bites the dust, buy as much used car as you can afford to pay cash for. Do NOT go into debt on it. If you happen to have 2k saved up (plus the air fare or gas money for racedoll), then consider AL's offer after talking to him and doing some research on those cars.

Also, get an idea of how much insurance and tags are going to cost you. No reason to go into it blind.

And if you need more reason to not go into debt, check out www.daveramsey.com or check out "My Total Money Makeover" from your local library.

Agree....

Porkchop · 01-04-2011, 02:02 AM

Quote:

Originally Posted by tommymac

how long before the bump in pay? I am not a big fan of leasing, it may be better off holding out. I actualy thought the taurus took a better beating, a freind has an older one with well over 100k on the clock and not many issues.

I graduate at the start of April. Talking to possible companies now. The engine seems completely fine. The tickey tackey bullshit doesnt bother me. Its the transmission that scares me really bad.

Quote:

Originally Posted by Homeslice

Springs, broken? Wow......not exactly common.

Cheap quality, if so.

Leasing is good for less-popular, less "hip" models, or ones with a color/option choice nobody wants, because their resale value will usually drop lower than what the leasing company predicted. WIN for you.

But if it is a car you know is going to hold its resale, like an Acura or a Tacoma or something rare like a Hemi Challenger, you should always buy it.

Seriously. Broken. Do a google search. I've never fixed them because they dont affect the ride. They mechanic that found them said he sees them a couple times a month.

The only lease im considering is a Mazda 3 advertised for $49 a month and 2500 down.

Quote:

Originally Posted by racedoll

Doesn't matter to me. I just want a reason to come to NC. I was down there in March last year and loved it!!!

Doll Im heading to NC in a month anyway with my friends, then on to Florida. You should come...

pauldun170 · 01-04-2011, 12:03 PM

I'd head to NC and get the Bonny.

Cost to fix the Taurus when the transmission goes - 2000-2500
Cost of running Bonneville $2000

Are you paying full coverage insurance for you car now?

Homeslice · 01-04-2011, 12:13 PM

Seems you could buy a tranny off a Taurus forum member for $300-400........then pay some tech students or forum members to put it in

Porkchop · 01-04-2011, 12:22 PM

Quote:

Originally Posted by pauldun170

I'd head to NC and get the Bonny.

Cost to fix the Taurus when the transmission goes - 2000-2500
Cost of running Bonneville $2000

Are you paying full coverage insurance for you car now?

Yea full coverage.

OneSickPsycho · 01-04-2011, 12:29 PM

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.

01-04-2011, 12:13 AM	#14
Tsunami Pug Queen Join Date: Dec 2008 Location: Las Vegas, NV Moto: DR200, SV650 Posts: 2,486	I say drive it to the ground. You may be surprised and have it last longer than you expected. I have been waiting for my car to die for the past 5 years +

01-04-2011, 12:13 PM	#18
Homeslice Elitist Join Date: Nov 2008 Location: SF Bay Area Moto: Gix 750 Posts: 11,351	Seems you could buy a tranny off a Taurus forum member for $300-400........then pay some tech students or forum members to put it in

01-04-2011, 12:29 PM	#20
OneSickPsycho Ride Like an Asshole Join Date: Feb 2008 Moto: nothing... Posts: 11,254	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.