lease or buy?
lease or buy?
New User
Joined: Jan 2004
Posts: 8
Likes: 0
From: Florence Oregon
lease etc.
Since I am unfamiliar with your personal situation I can only answer in broad terms. The ONLY reason I would ever lease is if the monies expended can be written off as a business expense. That would be if I could use the vehicle in the prosecution of my business. The caveat is that IRS will look very carefully to see if usage meets a certain threshold when split between personal/business use. If the lease is attractive by virtue of the fact that one can wiggle into a new car with minimum investment, then I would drive a pot and set aside money for the purchase of a new car, however, one must realize that a new car is a "wasting asset" and therefore a terrible investment.
All the above advice is worth slightly less than what it cost you and represents my own opinion which has been known, at times, to be faulty..Cheers.
All the above advice is worth slightly less than what it cost you and represents my own opinion which has been known, at times, to be faulty..Cheers.
Posting Guru
Joined: Aug 2004
Posts: 2,402
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From: Upstate, NY
Originally Posted by southernfordman
i bought mine i would never lease a automobile
Leasing is not for everyone..lots of people don't understand it, want their name on the title or just put too many miles on to make it worthwhile. I budget $300-$400 a month for a car and I like having new. In NY, if my lease truck is worth more than the buyout, I can sell it and take the profit. Leasing is more flexible if it fits your needs.
Freshman User
Joined: Aug 2004
Posts: 32
Likes: 0
From: SoCal
Pluses and minuses to both. I've done both and come out fine. Really an individual decision based on your intended use, but generally right now Buy seems better. The interest rates are so low that you are paying less interest than you would have when leasing a just few years ago.
Buying lets you avoid mileage restrictions, and eventually you will have no payment and still have the truck. When your lease ends, you have to start all over. A new truck every 3 years would be kind of nice though....
Buying lets you avoid mileage restrictions, and eventually you will have no payment and still have the truck. When your lease ends, you have to start all over. A new truck every 3 years would be kind of nice though....
Tuned
Joined: Mar 2003
Posts: 263
Likes: 4
I'm Leasing mine also. Only thing I dont like about leasing is your restricted to what customizations you can do, as far as I know. I would like to get a spray on bedliner for my truck but since im leasing it, even tho i do plan to buy out the lease (i save 5000 bucks buy leasing forst than buying) i dont think i can do it.
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