Cars - Lease Vs. Owning

Patti

CT4Val, Heather, Sabrina
Joined
May 21, 2010
Messages
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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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