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Old 11-05-2010, 08:03 AM
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Buy vs Lease

Looking to get into an Overland...and i am kind of stuck between buying and leasing. I have been only leasing the last 10 years because I like to get into a new car every 2 years. I feel as if buying the Jeep MAY make sense due to poor residuals / money factors, but I fear that if I go to sell the car in 2-3 years that I am going to get absolutely smoked on it.

Anybody have an opinion?
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Old 11-05-2010, 08:13 AM
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Re: Buy vs Lease

i was never a fan of leasing cars unless (you got it like that) cause i always thought...

with in the years leasing- you basically paid for a vehicle and to what- return it in. even when you finish leasing- if you dont wish to buy it out you basically just gave them all that money towards the lease for nothing.

its prolly a wrong way to look at it though^^, i never leased a car before, never indulged in it but thats the impression i got with leased cars. the only people that i know lease cars (around me) are people who got lots of funds to play with so its easier to let things go.
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Old 11-05-2010, 08:39 AM
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Re: Buy vs Lease

Go apply for a purchase and lease, morecowbell - the quotes you get will show you what I'm talking about in the other thread.

The Chrysler Financial leases were sensible (because of the incentives they provided). Now you'll end up with Ally Bank, Wells Fargo, etc. . .and banks do not offer those incentives. As a result, you'll spend practically as much money for a lease and get no equity in return.

Absent extenuating circumstances (tax deductions for your business, etc. . .), it simply does not make sense.
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Old 11-05-2010, 08:54 AM
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Re: Buy vs Lease

Typically, in say 2 years, how much of a haircut(percent wise) would i expect to take if i drive 10-15k per year?
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Old 11-05-2010, 09:11 AM
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Re: Buy vs Lease

30-35% maybe more.
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Old 11-05-2010, 09:42 AM
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Re: Buy vs Lease

I say look at what may happen in the next couple years in the economy! If inflation catches up to us and IT WILL! If you lease then you are forced to make a decision that you may not want or even worse can do!

So it may look good short term but I am hedging on side of owning all items (at least in process of doing so with payments)

Do what you want but the worst thing that could happen is you get a good lease rate for 24 months and inflation hits/market sucks and you have to finance buyout or another car for 12-15 % rates! Look at history like the early 80's...huge interest rates!

Good luck with your decision!
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Old 11-05-2010, 11:40 AM
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Re: Buy vs Lease

Leasing doesn't make any sense for me. I'm a low-mileage driver because I work three miles from my house. I only drive about 7000 miles per year. Plus I like to keep my vehicles for longer than a typical 2 or 3 year lease. I pay cash for my cars and keep them for 8 to 10 years. That's much cheaper than leasing over and over again.
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Old 11-05-2010, 11:58 AM
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Re: Buy vs Lease

X2^^^^^
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Old 11-05-2010, 12:08 PM
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Re: Buy vs Lease

leasing is a terrible financial decision
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Old 11-05-2010, 12:34 PM
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Re: Buy vs Lease

On the car the residuals and interest rate on the lease are just so, so. Its seems better to just buy it and take the low rate.
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Old 11-05-2010, 12:41 PM
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Re: Buy vs Lease

Better to buy this Jeep. I did lease my last car, but got a 60% residual so I was happy with that.
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Old 11-05-2010, 01:06 PM
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Re: Buy vs Lease

I've said this before: Leasing has all the disadvantages to owning a vehicle (payments, insurance, maintenance, etc.) without any of the advantages (sell any time, no mileage fees, mod anything, etc.). Unless you have to have a new car every year and don't mind always having monthly payments or you can expense your lease, leasing is practically never a better financial decision than buying. When I was younger I begn to save to buy a new vehicle in full without financing; it took about 8 years, but now I set aside in savings what would otherwise be a payment and can buy my vehicles in full every 3 years if I want....drives sales people nutty too
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