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Cars - Lease Vs. Owning

Patti

Patti

CT4Val, Heather, Sabrina
Joined
May 21, 2010
Messages
1,015
K, I've often wondered about this and because of Angie's reply to my 'wheels thread', I'm curious...

Do you lease or own your vehicle? What are the pros/cons of leasing?
 
We purchase our cars because we put too many miles on a car per year. And DH wouldn't even think of doing a lease because at the end of the term, you then have to purchase the car at a used car rate or trade it in and start another lease. I, personally, would consider it if we lived in a large enough town/city where I didn't have to drive far to do shopping and stuff but don't tell the husband I said that. LOL
 
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I lease and I love it. I put too many miles on it every time but they never seem to care. LOL. I loveeee getting a new car every 2-3 years, and I can get a nicer one because the payments are lower.

The way I figure, especially with kids, I am paying the same amount in lease payments as I'd pay in decreased value if I purchased it. Plus, like I said, new car every 2 or 3 years (depending on the lease specials they have when I turn in).
 
I like the way you think Angie.....

how do repairs work? are lease payments on average high?
 
Most everything that's gone wrong with them has been covered under warranty, so I haven't paid for anything other than oil changes.

I think the monthly payment is around $200 less than if I bought it.

Yes, I realize that after 2 years of paying $XX a month, I just give the van back and have nothing. But at the end of 2 years of payments, the van would be worth $XX less than when I started anyway. I figure it's a wash.
 
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