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Old 10-21-2008, 07:30 PM   #11
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+1 on teh Cherokee. A friend gave his 1996 to his folks when it rolled over 300,000 and it's still going. Not a terrible ride either for an older Jeep. (not a carlike ride either...)

 
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Old 10-21-2008, 08:59 PM   #12
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If you can, buy in either feb or early march. Dealers are just looking to make a sale, and you can find some killer deals.

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Old 10-21-2008, 09:49 PM   #13
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Yeah, I think leasing is for suckers. And yes, I was a sucker once. But never again.

Actually, leasing might make good sense for someone who constantly needs a newer vehicle for business purposes (think realtor) and who can expense the thing off to their business. But for the average Joe Plumber buying a car, it's usually a bad move.
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Old 10-21-2008, 11:09 PM   #14
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Why on earth would you buy something that has no possibility of ever appreciating in value? Do you enjoy pissing money away?

Let's see. You buy a car for $30,000. Immediately you drive it off the lot, it's worth $22,500. Three years later, it's worth $15,000. But wait! There's more! You had to sign a six-year note to get the payment to where you can afford it!

In other words, you've just paid someone 7%+ of $30,000 in order to lose money worse than a sailor on shore leave.

If the value of a thing stands to appreciate - i.e., if you stand to make money on selling it someday - purchase makes sense. If not, let somebody else take the hit. Simple as that. Would you buy a house if you knew it'd be worth at least 50% less at the end of your mortgage? Of course not!

Mileage? No brainer. Say you put 20,000 miles on your car per year. You can't afford to buy the car at that point - the value at the end of your six-year note will be less than a pile of poo. And you'll have done so much repair and maintenance work on the car, you'll be even more in the hole. But if you buy more miles in your lease, you just turn it in at the end and pick out a new car. Where's the flaw?

As for not owning anything, would you rather not own the car for three years or not own it for six? Because until the note is paid off, you own nothing. Yeah, at the end of the note you own something - a dinged-up, high-mileage sh!tbasket that'll get you laughed at when you try to trade it in.

Anyway, that's my opinion. I realize it's unpopular, after reading the thread. But leasing is not just for someone who needs a car every three years (though that's true) - it's also for people who just like cars, or people who put lots of mileage on cars, or people who don't like pissing money away.

Cheers,

Bob
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Old 10-21-2008, 11:17 PM   #15
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Originally Posted by BobNQ3X View Post
You had to sign a six-year note to get the payment to where you can afford it!
Six years? I will say this without hesitation...if the only way one can afford a certain vehicle is to sign a 6 year note, then they can't afford that vehicle. That's nuts.

Even with a 4 year loan (the max I'd recommend to anyone who asked) you're probably in the black after 2.5 years...meaning you can sell and break even or even pocket some cash towards your next vehicle. And keep it for 6 and you're free and clear for the last 2. You're never free of a lease.
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Old 10-21-2008, 11:19 PM   #16
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I hate buying new cars. Will be going used. I may not understand much, but the money pit that is a new car, I understand that.

 
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