buy a used car or lease a new car?

Discussion in 'Chit-Chat & Community Discussion' started by chunkyboi, Dec 2, 2016.

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  1. chunkyboi

    chunkyboi Informed Hacker

    i can buy a old car and use it for a year or 2 or lease a new car for a year or 2 until i can afford a new car which should i choose?

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  2. Raymond

    Raymond Game Killer

    I'd say buy a used car. Leasing is terrible it's basically throwing your money away because in the end its not yours. So either buy yourself a used car or save up and take the bus.
  3. heroworld1

    heroworld1 Premium Premium Member

    lease a bmw x5 xdrive for $699 a month! its really cheap man
    --- Double Post Merged, Dec 2, 2016, Original Post Date: Dec 2, 2016 ---
    im driving x6 btw. paid in cash :( my father need to waive the tax
  4. Epic

    Epic 回到過去

    Got myself a used prius. Always wanted to get a nice BMW or something but I mellowed out and realized a well maintained used car and a new luxury car will get you to and from your destination the same way.

    May purchase a BMW in my 30s if school works out but as a broke college student, a prius works just fine.
  5. chunkyboi

    chunkyboi Informed Hacker

    yea i had a 2013 328i and it broke so not really looking for another bmw. beside i would be sending 8000 a year on year not to mention the deposits.
  6. Mixer

    Mixer The New Guy

    You should definitely get a used car; buying a new car really makes no sense unless you have tons of money to spare. I know a lot of new options can be tempting, but even a model one or two years older often has those options you many be looking for! Also leasing and buying a car after your leasing period isn't the worst option available, but remember that if you decide to not keep the car after two years, you've essentially rented a car for two years, and have nothing to show for it. If you simply want the convenience of having free maintenance with the dealership, slightly used cars still have a couple years left on their warranties. Don't forget though that buying a car is a sunken cost; you will never make money off your car, so only put in what you're willing to lose forever, as cars never appreciate in value unless they are some antique model or a highly sought out car(read: no new car you buy right now will ever be worth more than what you buy it for).

    Lastly, this is a largely generic comment, but one that holds a lot of truth: once you drive a new car off the lot, you already lose 30% of the value. If you want a new car, just go for something one or two years old, but the real savings is going for a car at least 4-5 years old! If you had a budget or some sort of cargo/mileage requirement I could give some recommendations, but generally speaking you'd want to avoid any car model with high upkeep costs and maintenance fees. I know you probably want a car that makes you feel good, and you should definitely be seeking an option to do so, but keep in mind the value of the car and weigh your cost vs. enjoyment ratio. Good luck, and find a car that you love and can cherish!
  7. chunkyboi

    chunkyboi Informed Hacker

    thank for the great info. i was leaning toward buy a old car and after what you said i agree completely. i dont see a point in buying a new car when it loses half of it value in 3-5 years.
  8. Raymond

    Raymond Game Killer

    I financed a car about a year and a half ago it's already 10k less than what I paid. I can't even trade it in because I'd still have to pay the difference of the loan. But it's one heck of a car $20 in gas a week I use it work and very reliable. 2011 Hyundai Elantra with GPS Bluetooth SiriusXM and shit.

    Dealer tried to get me to trade it in for a new 2016 but it was pointless because the new car didn't even have bluetooth for my phone that he was offering me. I rather keep the old car and have the works than a new car with nothing. So when you buy your car don't be afraid to go back a few years its all about maintenance.
  9. demonnator

    demonnator The New Guy

    If you can afford a car, just buy the car.
  10. muffinmei

    muffinmei The New Guy

    Better buy a used car, for now. Unless you can loan, and can manage to pay for it, then why not.
  11. Sifting

    Sifting Lurker

    Unless you have a legitimate reason to buy new, newborn baby/family, or you have more cash than you know what to do with. I would recommend buying used. 96-00 Civics are the best imo. If you want something flashy then get it but you'll be working to pay it off rather than go somewhere with it.. ;0

    If you deal with snow though, might want that Subaru.
  12. WhatIsHacks

    WhatIsHacks Premium Premium Member

    Lease: cheaper, but you don't own the asset. Can be beneficial for repairs and stuff I guess

    buy: you own it, can sell it once done or keep longer than lease

    I would definitely buy; Lot of used cars, as sifting metnioned above, are reliable
  13. Insigma

    Insigma G.O.O.D MUSIC

    Buy a used car as a individual that studies business leasing is a horrible idea your paying for a asset that isn't your and Im not talking about ass get it *slaps knee nerd joke. Anyways back to topic leasing a car theres interest rate, milage restriction, certain full coverage insurance you need to buy, if anything is wrong you are responsible to fix because at the end of the lease agreement you have to return the car at the condition you received it minus the KM. Also do you really want to tie yourself with monthly payments. I say get a used car get a piece of asset save and get a really good down payment for a car you would want in order to have low incremental payments.

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