Finance Guide Center - What do you think about leasing a car?

What do you think about leasing a car?

I was wondering about leasing a car only because I don't plan on keeping a car too long. Then I was thinking about buying a car and trading it in but worried about how much I can get for it in 4 or 5 years. I was also thinking about a Certified Pre-Owned so that it won't be as expensive but I still get some warranties and such and I still have the oppurtunity to trade it in . What should I do?

Public Comments

I'm completely against leasing anything. Why pump money into something, you will never own?
Better to buy one! Just buy a used one.
its more expensive yet less hassle to lease buy an old Toyota instead
a no, b/c usually you have to pay like 4,000 bucks to get it
i like the first dudes answer, plus i think you can only drive a set amount of miles and you have to keep it looking like it never left the lot
Don't do it, it's a waste of time, you put all this money into something that you don't get to keep, then you have so many rules like... you can't alter the vehicle in anyway (New stereo, rims etc.) and you usually have a mileage limit, if you go over that limit then you have to pay so much for the additional miles traveled. I would buy a car and if you wan to trade it in later on with good rade in value, you should def. get a Honda!
Leasing is a great deal if you know you will be changing vehicles within a couple of years and your driving habits will not take you beyond the mileage agreements specified in the lease. However, if you are like me and tend to keep cars until the wheels fall off and don't like the idea of having to keep under a pre-determined amount of miles, buying is the way to go.
DO not lease! BUY because it will cost more to keep leasing it, then to buy it and end paying
Leasing is not a good idea- you are paying for the car for the amount of time you use it and cannot get out of the contract. Also if you go over the mileage allowed that is a big financial penalty when the lease is up. You have spent alot of money and when the lease is up there is nothing to sell or trade. Look at certified pre owned cars from a dealer you trust. Leasing allows you to have a car that you could not afford to buy- but is that good financial judgement? Right now there are alot of ads for 0 % interest on 07 cars if you can afford that. They have to clear the lots for the new models coming in.
Leasing is a good idea if you don't drive far and are able to keep your car from alot of damage, like paint chipping. You are charged if you exceed the allowed mileage. The plus side is leasing is cheaper and you swap your car after a few years.
Don't. Buy! Buy! Buy!
if you need to use it for around 10-15 days then leasing is okay but if your usage is expected for few months or more.. better you buy a good second hand car and then re sell it later. :-) that would be pretty cheap mode as compare to renting.
my friend has always leased her cars...she gets a new one like every 2 years. she doesn't seem to have a problem with it. when we rent apartments and houses we're pumping money into nothing and THAT'S WHERE WE LIVE! it just depends on how important it is to you to OWN a car. it also depends on your situation. are you willing to continue to pay for something for however long or would you like to stop paying for something after a few years. economically in the long run, it might be best to buy the car instead of lease it and if you buy used, I wouldn't go more than 2 years old. my 1st car was bought used...it was in good condition with low mileage and only 2 yrs old. but after I had paid for it, it started giving me trouble..too much trouble and ended up forking out a lot of money. when buying a used car, do your research like what the history of the car is, what recalls were made, what problems that car had. For example, my used car one day just started leaking a sh*tload of oil as I backed out of the drive way. cost me an arm and a leg to fix because the engine had to be removed, fixed, then replaced. I didn't know that that particular car had a problem with the engine cracking and oil spilling out. it was probably something that the previous owner got information about but never had replaced. there was a slew of other problems that were costing me a fortune so I bought my next car new. the good thing about buying new is that if certain problems arise that a genetic to the car itself (like my new car was said to have a problem with one of the lights short circuiting and blowing everything out) the company sends you a letter, you go to the dealership, have it checked out, and if somethings wrong, it's replaced for free. I guess that goes to say that's the same for anything but like with a used car, once your warranty is up, you're screwed.
I would not go with leasing a car because you are paying for a car that you do not own. and that is with interest. even if you bought a car, sure you may lose money trading it in,but you would lose a lot more with leasing. esp if you plan to keep the car for more than 2 years. and with leasing you can only have so many miles on the car. any extra miles and you are charged so much per mile.
Leasing is not for everyone, many are stuck with leases trying to find a way out, simply stay away from it if you don't fully understand what its about. You should not worry about having to trade a vehicle 4 or 5 years from now, tackle that question with study when the time comes, in the meantime if you want value and idea's study my website http://www.usedcartips.org/BEFORESHOP.html how to buy a car its free advice with no strings attached
Certified pre owned can be a good way to go for the reasons you stated. Leasing generally is not to appealing for the average person. You must carry higher liability and deduct able limits than you may want to. You have mileage limits that can be limiting. As far as value in 4 or 5 years. By that time there usually is not much value left when you sell or trade. If your careful in selecting your pre owned vehicle you can come out with a satisfactory buy.
I look at it this way, you are either paying the bank, or paying a mechanic. I'd prefer to pay the bank and drive a nice new car every few years, always under warranty, newest safety equipment and newest tech. But that's just me, there are other factors such as the car you want and what kind of miles you plan on doing.
it depends the type of car you are thinking about getting. like if its luxury its good that you lease the car. because they come out with better and newer models. but if you were to get a toyota or honda you should just buy it cause it will last longer. so it really depends on what type of car you get.