Results 1 to 3 of 3

Thread: buy or lease car

  1. #1

    Thumbs up buy or lease car

    I want to know which one is good buy an suv or lease? I am looking to buy a new suv highlander hybrid but is too big for my pocket and I know that new car has a big depreciation in the first 2 years. But the older highlanders do not come cheap either. and also the present interest rate at the dealers which varies for a new model with 0 down payment it is 3.99% for 5 years and for used it is 5.97% and if I go for 7 years it goes further high to 6.5%. when I am to finance the car for a used car at 6.5% then why not go for a new car at the reduced interest rate? I am confused, want somebody to help me with maths on saving on buying a new versus used.
    also If I go for lease what are the pros and cons of it since I have never leased any car before and am ignorant of the benefits or losses of leasing a vehicle.
    Any input or feedback is appreciated.
    How do I negotiate for a good reasonable price from the dealer for a new vehicle? are there any agency or website that will help me negotiate a good price for me? thank you in advance.

  2. #2

    Default

    Sorry, I can't answer you in the details you are asking for, but here's my own opinion.

    Lease is good if you are the type that want a new car every 2-3 years, I do know of people like that. Also I believe if you want to buy it in the end of the lease you can for a set price. I think leasing in the end costs more than actually buying the car (someone will have to run the numbers), I just figure leasing is how companies make their money. No different than some stores that offer to lease computers, it seems better paying a monthly payment, but add it up in the end and you would have been better off buying the computer in the beginning.

    Buying, there is no restrictions on KMs and what you can do to the car. Obviously you don't own it until the lien is paid of, but at least your payments are going towards it.

    Myself, I prefer to buy but only used, I would never buy new again, as cars depreciate so fast. And when you buy new you have to pay all those extra charges like freight, tire tax, etc. I bought my 4th vehicle used in 2008 and still going strong. Don't plan to on buying another car for another 4-5 years. As for the rate, you would have to calculate against how much you would get the used one for VS the new one with all the extra new car charges. You can always negotiate a better price or rate, it's a competitive business and you can always take your biz elsewhere.
    Edmonton ~ It may not be perfect, but it's home~

  3. #3

    Default

    Quote Originally Posted by Gizmo View Post
    Sorry, I can't answer you in the details you are asking for, but here's my own opinion.

    Lease is good if you are the type that want a new car every 2-3 years, I do know of people like that. Also I believe if you want to buy it in the end of the lease you can for a set price. I think leasing in the end costs more than actually buying the car (someone will have to run the numbers), I just figure leasing is how companies make their money. No different than some stores that offer to lease computers, it seems better paying a monthly payment, but add it up in the end and you would have been better off buying the computer in the beginning.

    Buying, there is no restrictions on KMs and what you can do to the car. Obviously you don't own it until the lien is paid of, but at least your payments are going towards it.

    Myself, I prefer to buy but only used, I would never buy new again, as cars depreciate so fast. And when you buy new you have to pay all those extra charges like freight, tire tax, etc. I bought my 4th vehicle used in 2008 and still going strong. Don't plan to on buying another car for another 4-5 years. As for the rate, you would have to calculate against how much you would get the used one for VS the new one with all the extra new car charges. You can always negotiate a better price or rate, it's a competitive business and you can always take your biz elsewhere.
    Thanks. appreciate it.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •