Do you lease or buy your cars? Tell me why

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Forum -> Shopping -> Household Products, Kitchen Appliances, Furniture & Cars

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oohlala

Mon, Jul 15 2024, 4:44 pm

Can you tell me why you decided to lease or buy? I’m conflicted and want to hear peoples rationale. We can afford to buy, but all that money at once leaving my account freaks me out.

teachkids

Mon, Jul 15 2024, 4:46 pm

We buy old used cars in our budget- it comes out cheaper per year than buying or leasing a new car, and have no long commutes that it matters

Busybee5

Mon, Jul 15 2024, 4:53 pm

teachkids wrote:

We buy old used cars in our budget- it comes out cheaper per year than buying or leasing a new car, and have no long commutes that it matters

Same here.

allthingsblue

Mon, Jul 15 2024, 5:20 pm

We buy used cars about 2-5 years old

eduardo

Mon, Jul 15 2024, 5:37 pm

I bought a pre-owned car that was 3 years old. Did financing though, so I’m still making monthly payments on it. Came out cheaper than leasing and I own the car which is nice

The Happy Wife

Mon, Jul 15 2024, 5:39 pm

oohlala wrote:

Can you tell me why you decided to lease or buy? I’m conflicted and want to hear peoples rationale. We can afford to buy, but all that money at once leaving my account freaks me out.

You can still finance and buy.

We buy. Cheaper than leasing and we own the car in the end.

thankyou1

Mon, Jul 15 2024, 5:44 pm

Only buy, I drive everywhere. B "h have lots of simchas and I also love visiting family. According to my miles now, I drive close to 1700 miles a month.

realtalk

Mon, Jul 15 2024, 5:47 pm

We buy. Leasing is the most expensive way to get a car. Would you rent forever because you don't want to spend money on a down payment?

mha3484

Mon, Jul 15 2024, 5:50 pm

My last two cars were bought. One was 5 years old and my current car that we bought recently is a 2018. The first one was financed and the second one we were going to finance but in a total hashgacha pratis story we were able to buy it outright. The no payment and lower insurance is a real gift. But leasing makes no sense to me.

EsG

Mon, Jul 15 2024, 5:52 pm

We bought our cars.

One was bought before the car market went crazy post covid. It was 2 years old with very minimal miles. It was a great deal.

The second was bought much more recently and we explored buying used but the used cars currently cost only a small amount less than brand new. So we just got a brand new car.

We leased in the past but our plan is to have these cars for 10 years. So we finance for 5 years and then use the car for an additional 5 years without payments. With leasing, you always have payments.

finprof

Mon, Jul 15 2024, 5:56 pm

We buy certified used cars, its the best option financially because we can pay in full and avoid any interest. When I was in college I bought a used clunker and just davened that it would last long enough for me to save for a "real car"

HonesttoGod

Mon, Jul 15 2024, 8:37 pm

Buy. Used. No financing.

Financially, leasing a car is the stupidest thing ever.

Amarante

Mon, Jul 15 2024, 9:57 pm

I buy new cars that are very well reviewed.

My cars typically last for more than a decade and so the fact that they depreciate in the first year is meaningless to me because I don't plan to sell. And I like knowing exactly what the history of the car was.

Also - at least in my experience - the price of a good used car from a good brand with reasonably low mileage is not that much less expensive than a new car.

I buy my car because even if you take out a loan for the car you will have no payments for a significant number of years because you own the car. I put the "car payment" in a bank account and so my loans become smaller since I have all the money saved I didn't pay through the years.

bsy

Mon, Jul 15 2024, 10:03 pm

We buy Toyotas. Used and new. They last a long time and it's much cheaper than leasing

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