So I have had a heck of a week with my car! I will blog more about it later. Anyway, never before until this week have I considered leasing a vehicle, but having a shiny new car that I can hand back after three years seems more and more appealing. The thing that has always held me back is that you get absolutely no equity from leasing.
So I’d like to hear from everyone else….. what are your thoughts on leasing a vehicle???
If you have ever leased, please tell me what you liked or didn’t like about it.
Thanks!
Thanks for reading, have a great day ;)3 Responses to “TFT: Leasing a Vehicle”
Comments (3)
Twitter: messilyeveraftr
(104 comments) says:
I have always leased. New car every 3 years, always under warranty, lower payments (per month) than financing.
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We are leasing the mini van and it has its perks. Although there is never anything that goes wrong with it in those short 3 years. But, the bonus for us is we get to give the damn mini van back this August and I can get something a little “cooler”! I think you can get good rates and a guarantee that the dealer will fix any problem. Of course, buying a used car that’s a little older will be much cheaper. We’ll probably go that route in August in order to get what we want!
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First off, I’m sorry to hear you’re having car troubles. That is such a pain. Deep breaths!! Secondly, I have opinions on this car business. Of course, whatever works for you is what you should do. For sure! But I, personally, wouldn’t lease. Not at this point in my life. I can see doing it when I’m much older … to old to deal with a broken down car or taking my vehicle in for repairs. But I am a firm believer that everyday cars are not good investments, but you get the most bang for your buck when you buy a good, low mileage, preferably certified pre-owned car. With new cars, you lose a bunch of money as soon as you drive them off the lot. With leases, you never get to experience that paid-off feeling! There are a lot of good cars out there with really low miles that are like new. You can always opt to sell them before or as soon as they’re paid off, giving you the opportunity to get into another like-new car. But if you lease, you don’t have the opportunity to go without a payment for awhile. Also, in Arizona, our vehicle registration is based on the car’s value. So, in 2005, I paid $600 for one year to register our 2002 Mercury Mountaineer. Making a lease vehicle, which will always be relatively new, expensive to keep registered, year after year. I still have the same car, and I’ve been driving it without a payment for over a year now. It was only $200 to register this year, and the insurance is less because it’s an older model. We do regular work on it (at 100K miles, breaks when needed, fluid changes, etc.) and it’s been good to us. One last thought … I had a friend in Dallas who owned an older vehicle. An old Volvo. He didn’t have a payment, but he made a $200 a month payment to himself to a separate account. That way, when the car had a problem, he had the money available and set aside to take care of it. Just a thought! Now, all that said, if you lease and it makes you feel good, that’s great! Keep us posted.
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