STYLETHREAD -- LET'S TALK SHOP!

PrincessPink · BCBG

Leasing v. Owning

lsubatgirl · Gucci

I know a few people who have leased cars and they end up regretting it after a while. Its a nice concept if you want a car that is a tad out of your price range or if you want to get a new one every few years. The only thing is that you pay so little that at the end you can't afford to pay off the car and keep it if you want so there you are again looking for a car and making more payments - either leasing or buying. Its like the payments never end.

I personally feel like cars are such a big ticket item that I want to get my money's worth and I'm going to run it into the ground (keep about 10 years). With buying it, I'll make payments for 4-5 years and then have a break for 4-5 more years before I have to start making car payments again.

Its just a matter of what you want and how you want to look at it. Leasing is not for me but it may be for you.

CarrieS · Marc Jacobs

I leased my car for 3 years when I got it. The reason at the time was for the cheaper monthly payments (vs. buying), since I was supposed to take over payments after a year, from my parents, and I wouldn't have been able to afford monthly payments if we had just bought it.

I did just buy the car in April though, and overall, it would have been a better idea for us to buy the car, since in the long run you're going to be paying more money for a leased car if you end up buying if after the lease.

If you can't afford the monthly payments for buying it from the beginning, leasing is the way to go. It gives you a couple of years to save up the money to afford the payments if you choose to buy it after the lease. Also like lsubatgirl said, it's also good if you like to change cars often or want a more expensive car to drive.

Buying is the option if you can afford payments now, since like I said, overall it will cost less to just buy it right away. I recommend doing this.

Hope that made sense; if not, ask away!

-- Edited by CarrieS at 12:10, 2005-06-28

lynnie · Chanel

I'm not a big car person so I'm the wrong person to reply, but I say own. I bought a used 98 Honda for $9000 a couple of years ago and as long as it doesn't get wrecked, I am planning on keeping it for about 10 years total? I don't have to make payments, but that averages to $75 a month. Most leases are $200-300. You always have a new car, but you are always paying. It depends on what is worth it to you more. If you are ok with having the same car until it breaks, I think you should buy.

Cortney1982 · Chanel

I would buy even if that means you have to pick a less desirable car. Putting money toward something you will own is a better investment. I may be paying a little more money right now, but after 4 more years, I won't have to make a car payment, unless I want to trade in for a new vehicle. And right now it seems like they are having really good deals on cars, with the GM "employee discount".

halleybird · Hermes

As long as you get a car with good resale value and plan to keep it awhile, it's better to buy. However, if you buy a car with low resale value, or if you like to have a new car every 2-3 years, it's probably better to lease.

You pretty much lose money on cars no matter what, though.