Did you lease or buy your car?

[cyberdude558]

The old debate of leasing vs buying when it comes to car shopping.

Of course the answer is that it depends on several factors. But which do you go with?

[JavaRay]

I bought my first few, leased once, and bought every one since then.    It works out about the same.   If you lease, you have to watch your miles.

[Durango 95]

I buy pre-owned usually about 2-3 years old, low miles w/ a manufacturers warranty still in effect. Then I buy an extended warranty on top of that. I also buy cash but that part is what works for you.

Next vehicle will be the VW CC.

Buying an extended warranty as far as value goes may not be a good ROI. But that's a personal thing. I detest all car repair costs.

I would never buy or lease a brand new car again. Total waste of money.

[VinBucFan]

I buy pre-owned usually about 2-3 years old, low miles w/ a manufacturers warranty still in effect.

The right move financially. From a pure financial perspective, Durango's approach makes the most sense.

There are other considerations for some beyond financial.

[Morgan]

I buy pre-owned usually about 2-3 years old, low miles w/ a manufacturers warranty still in effect. Then I buy an extended warranty on top of that. I also buy cash but that part is what works for you.

Next vehicle will be the VW CC.

Buying an extended warranty as far as value goes may not be a good ROI. But that's a personal thing. I detest all car repair costs.

I would never buy or lease a brand new car again. Total waste of money.

So you purchase "used" from dealerships or private individuals or from a car supermarket like Carmax?

[VinBucFan]

I buy pre-owned usually about 2-3 years old, low miles w/ a manufacturers warranty still in effect. Then I buy an extended warranty on top of that. I also buy cash but that part is what works for you.

Next vehicle will be the VW CC.

Buying an extended warranty as far as value goes may not be a good ROI. But that's a personal thing. I detest all car repair costs.

I would never buy or lease a brand new car again. Total waste of money.

So you purchase "used" from dealerships or private individuals or from a car supermarket like Carmax?

It would be more work, but your best deal (with some security behind it) is negotiating with a dealership. You probably can get a better deal from a private person, but with more risk and you run into people who overvalue their car.  Carmax (and the like) are making you pay a small premium for ease of purchase (although it is a good experience for those who don't want the hassle)

[Durango 95]

I've never done a private sale/ purchase.

My current vehicle I bought from Carmax. My first experience w/ them went okay. Had it shipped in from Miami or somewhere down south. It works well for me, I turn them over every few years. That way I keep current and have never needed any sort of major repair. I take a short warranty on top of that. depending what's left on the mfgrs.

I worked in a business that kept me close w/ car dealers but mostly car dealer groups  (which was easily the worst part of my job) So I have a grasp of how dealerships make money and am able to negotiate. By keeping my turnaround at every 2- 3 years I can get a better "trade-in value". So after the trade in I pay the difference in cash. Remember that an in-house finance deal is often more attractive for a dealership. So paying cash or using your own bank isn't something you would want to necessarily share right away. Of course nothing in buying and selling cars is a one size fits all situation.

[Morgan]

interesting information - thanks for posting/sharing

[BucNY]

I buy, wifey gets a new lease every 3 years. That way we always have a good new car to drive.