buy new, used, or lease a car?

[VISITOR]

what does everyone prefer and why?

[Bill D]

Ive had used and new but never leased. One of these days I gotta do that if for no other reason than to see what it's like.

[Thunderchicken]

I have had a lot of cars - used mostly at first, a few new ones, but got spoiled at work when I was able to order a new car every year if not sooner. In retirement I still lease them, but may change that up when the present one is "up". No idea what the car market will look like then (2023). I have considered buying but worry somewhat about the electronics becoming obsolescent faster than the gas piston engines ..

[Big Dave]

I've always been bought used, and from a dealer, never a private sale. I've had friends who've bought used privately and ended up with cars that have been in major accidents, but have been really hard to spot. One discovered that his car was actually made up of the best bits of 2 cars welded together. After my first 2 cars I've always bought from big dealerships as well, never had an issue, anything that went wrong they fixed. They do charge more, but it's peace of mind.

I've never bought new, I couldn't justify to myself the depreciation as you drive it off the lot. I could never afford new either, although I can now, and I like the idea of getting exactly what you want. So who knows what might happen next.

I've never leased, mainly because I like to modify and customise my vehicles, and I like to own them at the end, with no residual owing.

The FJ I have now came from a major dealer chain, it's the third time I have bought from them, all 3 cars came with an extended 3 year warranty, no charge, it was included in whatever price you negotiated. The first car had a couple of issues, starter motor and alternator. When the starter failed it had to be towed, it was all fixed, no charge to me. That car was an ex-highway patrol interceptor, so it had a hard life. Neither of the other 2 required any warranty repairs. So, I'm a big fan of buying from dealerships, but big ones only.

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[2black1s]

Each option has it's place and the best option is dependent upon many factors.

For me personally, my order of preference would be 1) Buy New; 2) Lease New; 3) Buy Used.

[Coatingsarecrack]

I prefer slightly used. Don’t loose the big drop off of the lot. Also modify most of my cars so longer to wait till warranty is over.

Plus I get more car for my money. Was looking new Camaro and a 20/21 LT1 woulda costca couple grand more than my SS. It has alot more to it.


Selling cars before leasing is for someone who is buying new cars before paid off, If you trade in cars 2-4 years or if you just are always going to have a car payment as part of your bills.


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[PA DETAILER]

NEW. This way from day one, your butt was the only one in that seat. And you know the history from day one. If you don't drive much, lease. Dad told me once, everyone should experience what's it like to own a brand new vehicle at least once in their life.

Low mileage used is fine too. This way it already took the hit.

[MisterSnoop]

New for me.

I drive a lot. I had 2 used cars that were both previously my dad's work cars so I knew the previous owner/history on them. Both had a lot of reliability issues. The last car required $4000 in repairs in the last year I owned it which was more than payments on a new car. Since then, I haven't had a used car as my primary vehicle.

[Coatingsarecrack]

New for me.

I drive a lot. I had 2 used cars that were both previously my dad's work cars so I knew the previous owner/history on them. Both had a lot of reliability issues. The last car required $4000 in repairs in the last year I owned it which was more than payments on a new car. Since then, I haven't had a used car as my primary vehicle.

4,000 a year in most peoples cases is is alot less than payments. On average figure $20 +/- a few bucks per $1,000 financed.

That’s around $600 a month $7,200 a year for a 30k car.


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[MisterSnoop]

4,000 a year in most peoples cases is is alot less than payments. On average figure $20 +/- a few bucks per $1,000 financed.

That’s around $600 a month $7,200 a year for a 30k car.

I think payments on the first new car in 2004 were around $3k/yr. That was a $22k car. I did put down more on it than it was it worth when I traded it in which skews the numbers but financing the purchase price minus the trade in value would be pretty close to $4k/yr. Not having to use vacation days, have a car die on the road, borrow/rent a car also heavily factored into it.

Now I'm paying $600/mo but I decided to put 0 down due to the low interest rate.