Buy or Lease? on a Car I mean.
Hutch
2 Comments
5 References
I get a paltry 13.2 MPG in my Merc. Mountaineer. It's pathetic really. My wife's car gets 25 MPG. And we're looking to sell or trade in both of them and get two new ones with far better gas mileage. I'm thinking about a Lincoln Zephyr, and she wants a Buick Enclave. But to buy them it would be almost $1K a month for the two of them. But since I don't ever plan on being without a car or using it as collateral for a loan of any type, why shouldn't I just lease it? I'm really not going to recoup that money I invest anyway. While paying for a car, it depreciates, and the interest accrues. These two phenomena pretty much cancel out any advantage to purchasing versus leasing. I think we're pretty much decided. Now we just have to pick which cars. I need a sedan, because I do drive clients to see houses often. And my wife needs a very small SUV. We have one child (so far) so it needs to be ultra safe. And don't forget good gas mileage, maybe even diesel. Anyone have any good ideas? Know of any cars fitting those requirements?
References (5)
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Response: used carGreat used car Info. -
Response: buickHigh-performance buick solutions.
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Response: CARPresents great CAR.
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Response: raterate innovative technologies.
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Response: car leasingBest car leasing treatement.
Reader Comments (2)
I've always been told that is it a much better financial move to purchase a car and hold on to it. I think Consumer Reports did a study and showed you how much money you save by purchasing a car and keeping it for a longer period of time. Even if you never plan on using it, you do have some equity in the vehicle and after 4-5 years, you own it outright. After 4-5 years there's NO payment while you'll always have a payment if you continue to lease vehicles.
I would just do some more research before leasing. Sometimes it's a good decision, sometimes it's not. Perhaps you lease your vehicle (so you always have a new one for clients) and purchase her vehicle?
When I was looking for my next safer car I liked the Volvo Xc90 but the enclave sounds nice.