Poll of the Day > Lease or buy a car?

(+) Yeah! (+)

So it looks like Ill be needing to buy or lease my first ever car it seems, but I don't really know which option would be better to go along with and with anyone on experience with it I could use some advice. Basically in terms of my financial situation, I only make $10.68 per hour. So I guess leasing something would be better in the long run because I cant really afford to do a long term investment right? And I hardly go anywhere besides work so that should keep the miles down since I know there is a certain percentage you cant cross or whatever. I know there are a lot of pros and cons to both as well, since if you buy a car, you gotta make up with upkeep and all of that. Maintenance, etc.

But anyways... just need some opinions as to whats the best approach on what to go for here. Hell, I even have something in mind for what I want to lease. Those Jeep Renegades are pretty damn nice and it'll help during winter season.

From what I've read, leasing is a scam in almost every way.

If you live, work, or drive in a largish city with a lot of cars, don't lease.
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Ok so from what I know leases are pretty much for new cars and it's going to reflect in a higher monthly payment. It looks like you're on a budget and I hope you live with your parents and that takes care of pretty much all your costs of living.

You could get a decent beater outright or try to find a nicer used car.

I'd honestly ask yourself how stable you are and how much you can really afford per month . Set something realistic like 1 weeks of income.

Remember you have basically registration, insurance and everything else under the sun.

Go and look up calculators and car buying guides. They are going to help you make a budget and identify unknown expenses, help you deal with buying and negotiations etc.

Even if you've bought a car before it will help refresh you and get you in the right orientation to get what you're looking for.

Get an old, reliable car for peanuts.

Maintenance is cheap, just remember to do it to avoid fucking up actually costly parts.
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Kyuubi4269 posted...

Get an old, reliable car for peanuts.

Maintenance is cheap, just remember to do it to avoid fucking up actually costly parts.

Best idea.

If that's not an option for you though, definitely buy something roughly 5 years old that is reliable and cheap to fix. Toyota or Honda are my picks.
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Rasmoh posted...

Kyuubi4269 posted...

Get an old, reliable car for peanuts.

Maintenance is cheap, just remember to do it to avoid fucking up actually costly parts.

Best idea.

If that's not an option for you though, definitely buy something roughly 5 years old that is reliable and cheap to fix. Toyota or Honda are my picks.

Would you recommend a Kia?

I lease for a few reasons. I don't mind making payments forever to always have a new car. There are too many electronics in modern cars that are destined to fuck up. I'm about to turn in a '15 Accord that is having a lock actuator problem (a $250 fix). I also don't commute and have no problem staying under mileage limits. I also have a 21 year old beater car for quick trips too.

reading your OP, your best bet is too find a reliable used car. If you don't have alot of cash to spare, a bank can finance you what you need. Just keep it simple.
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I prefer leasing since you still build equity, you dont pay taxes on the vehicle, and you get a new car every 3 years as long as you want to sign a new lease
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Firewood18 posted...

I lease for a few reasons. I don't mind making payments forever to always have a new car. There are too many electronics in modern cars that are destined to fuck up. I'm about to turn in a '15 Accord that is having a lock actuator problem (a $250 fix). I also don't commute and have no problem staying under mileage limits. I also have a 21 year old beater car for quick trips too.

reading your OP, your best bet is too find a reliable used car. If you don't have alot of cash to spare, a bank can finance you what you need. Just keep it simple.

This was a response I was hoping to see. Thanks! But yeah, seriously.. its not like I have a lot of cash coming in anyways and I also wouldn't mind paying for a car I wont own. I just need to have something I can pay, and afford every month without it being mine to pour more money into as the variable option here. And also here is another question about a lease.... when the lease is up, how much would you say you would need to owe overall? I know that there are certain fees Im assuming as well like say, if there is a scratch or whatever. And also, if I wanted to back out of a lease, what would that cost as well?

Mead posted...

I prefer leasing since you still build equity, you dont pay taxes on the vehicle, and you get a new car every 3 years as long as you want to sign a new lease

You forgot to mention you're always making a car payment too.
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Leasing is shitty. You're better off looking for something you can afford to buy that has 40k miles or less on the odometer. Read lots of consumer reviews before you bite on anything. You'd be surprised what's good and what isn't based on prices being misleading. Your safest bet is to go with a Honda or a Nissan, IMO.
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TaKun782 posted...

Would you recommend a Kia?

I have never driven one, but I've heard they tend not to last. I've heard Nissans and Subarus tend to do well, though have never driven either. I personally drive an old Ford Ranger, but my wife drives a relatively new Corolla that should last her a good 8 or so years.
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TaKun782 posted...

Would you recommend a Kia?

Would you eat raw pork?
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Personally, I'll never understand the allure of leasing but some people swear by it. I've always bought my cars. I like knowing that there's an eventual end to the monthly payments.
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Kyuubi4269 posted...

Get an old, reliable car for peanuts.

Maintenance is cheap, just remember to do it to avoid fucking up actually costly parts.

This.
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ClarkDuke posted...

TaKun782 posted...

Would you recommend a Kia?

Would you eat raw pork?

A friend's granddaughter has a new KIA, seems like a nice car, I've fixed a few minor issues for her (she's not a car person).

But who would name a car Killed In Action? That seems a bad omen.
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I have a 2017 Kia Sedona, it's pretty dope
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Mead posted...

I prefer leasing since you still build equity

reading about it, it sounds like the only equity is if you happen to drive it less than predicted. you aren't "building equity" with your payments, it's all about how much you drove it.
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Zacek posted...

Kyuubi4269 posted...

Get an old, reliable car for peanuts.

Maintenance is cheap, just remember to do it to avoid fucking up actually costly parts.

This.

This.

It all depends on where you live and how much you drive, though. For me it makes sense, and I haven't had a car payment in about 10 years.

Do plan on maintenance, though. I spend 1k or so a year to maintain the car, between oil changes, brakes, shocks, etc.

Buy, and if you need to get a loan. Lease-end cars are great as they can last a very long time and usually are pretty affordable.

Never lease a car yourself, it is a scam. But definitely take advantage of the idiots who do and get a decent car out of their mistakes.
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Sahuagin posted...

Mead posted...

I prefer leasing since you still build equity

reading about it, it sounds like the only equity is if you happen to drive it less than predicted. you aren't "building equity" with your payments, it's all about how much you drove it.

Yeah if you put a ton of miles on it or damage the car then it would be a bust
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