When is it time to Purchase instead of lease?
I been looking at the Encore , Terrain,Jetta,etc.
A jetta can be bought at $15,700 Out the door. (I LIVE IN TEXAS).
so leases for us Texans make the lease payments almost the same as
Buying.
We are talking about OUT THE DOOR Cheap vehicles under $18,000.
anyone Purchased instead of Lease, when you started looking for a lease?
just some opinions needed
If you live in Texas, you’re used to getting nailed on taxes either way. So buying can certainly make more sense there.
In my opinion, if price is your primary concern, your best bet is to buy. The cheaper your MSRP, the less room it has to depreciate. Generally leasing is about taking advantage of newer vehicles, technologies and features and only eating a certain percentage of depreciation. So if you’re just interested in getting a dirt cheap car, it doesn’t make a whole lot of sense to lease unless you’re stealing it off the lot for $100/mo.
You can look at Infiniti Q50 now, they have tax credit now for them I think.
Look at the dealership in Grapevine…they are all new dealership there and might be willing to deal.
Yes, Texas sucks on the tax part. Cheap cars are basically 200-300 lease or purchase anyway. so fustrating with the prices in Houston, either lease or purchase.
true …
Grubb ? 202020202022020
Yes…they still have some Q50 2017 options…
When you love your car and want to keep it forever. Or least the US average of seven years.
My measuring stick is to look at kbb trade in for a model year 3 years old and with 30k miles (or 2 years, whatever term you are looking at) and look at the lower number, add up your purchase price, dealer fees, taxes, etc and subtract the trade in price and figure out the effective monthly payment. Compare that to leasing. I think a lot of people would be surprised if they did this check every once in a while. Even on slightly used cars.
As soon as you have time, and four grand lying around, to take it in to a repair shop on a whim for a variety of things braking on it. I had an Audi A6 for 8.5 years. My effective payment after the purchase was $298 per month for the life of the vehicle and it only cost $11k when I bought it.
Now that I have three kids and a job with more responsibility I got a boring (Cherokee) Dad car I know will go from point A to B without major cash needing to be invested in repairs. It’s reliable, my wife likes driving it (vs my A6) and it really slow.
My payment now is $299 but I’m not looking at any big repairs bills as it’s jnder warranty. I spent so much time at the repair shop and I just don’t have large amounts of free time now woth a family!
If I was going to purchase… I’d look for something older with lower miles and under $12k. 2008 or 2009 luxury sedan
To me it depends on the use and shelf life. Purchasing the Prius on Sunday was a no brainer. The return for that is 6 years. Depends on how you perceive and factor in the equity along with some longer lasting Benz.
If you drive over 15 k miles a year, driving latest and greatest does not mean much to you (just like having the latest and greatest refrigerator does not mean anything to me), you don’t need a car to look good, then go ahead and buy a reliable used sedan.
Keeping a reliable well maintained car for over 6 years is always going to be cheaper than even the great lease hacks. Less fun but cheaper.
And also why buy a dirt cheap new jetta for 15k out the door. Buy a dirt cheaper 2 year old used jetta for half the price!!!
You on a tear this morning. Its saturday, shouldnt you be sleeping late? Impressive your dedication.
Purchased a 2018 Honda Accord LX for $20K (before sales tax) at the end of December and had been doing 2 yr 15K leases for quite a while - just didn’t see anything at year end of similar quality and size that I thought would cost less over a 2-3 year period - the modern driver safety - collision mitigation etc included on the lower level trim was a big factor for me. The Camry would have been a better choice for a lease - but I just thought the Accord was a much better to drive.
Texas has extra GM lease cash. $900 on the Encore to be exact. Others models have more.
Any financial advisor worth his weight in gold will tell you it’s more financially responsible to buy a lightly used 2-3 year old mainstream car, and drive it until the wheels fall off. 95% of the time, (unless you find yourself in a lemon), you will come out ahead after it’s paid off…more so if you can buy that used car cash instead of financing it.
Personally, I pay the “premium” to lease because:
Basically, it boils down to your preferences/expectations/lifestyle
yes, been buying cars Used all my life except my current suf. But being IN WARRANTY is great. I need to change tires on SUV this month. $800 + allignment. Just out of warranty. decision are endless since finding this FORUM… thanks everyone