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Super Contributor
Posts: 351
Registered: ‎04-17-2010

Re: Renting Or Buying A New Car

I have both bought cars and leased.  When you lease you should know upfront your monthly payment and also the price you will pay at the end of the lease if you want to buy the car.  If you don't buy the car there usually is a disposition fee of around $400. to turn the car in.  Also, when you turn it in they will inspect it and charge you for any damage or excessive wear and tear. 

 

The 3 years you have the car is covered by the 36 month warrenty but you usually need to keep your mileage to about 12,000 a year so you do not go over the mileage they allow, usually 36,000 for 3 years. 

 

I liked leasing because you had no large repair expense and you get a new car in 3 years.

 

However, this last car for me I purchased because I drive so little now that my husband has passed.  I have had the car for 4 years and have 12,000 miles. 

 

I hope this helps, it is just what I learned over the years.

 

Good Luck

Bookbabe

Trusted Contributor
Posts: 1,651
Registered: ‎03-26-2010

Re: Renting Or Buying A New Car

I say keep the Acura!  We always buy our cars new, try to pay them off quickly, and keep them until repairs become too expensive to warrant keeping them. I had a 1998 Toyota Corolla that  I drove until 2014.  

Honored Contributor
Posts: 14,319
Registered: ‎03-16-2010

Re: Renting Or Buying A New Car


@jaxs mom wrote:

Why would you consider leasing a car when your current one only has 17k miles on it? Isn't it long paid for? 


Yes it is long paid for! I recently got to drive a 2015 Toyota Corolla and loved it. I really love the backup camera and everything was so luxurious. I'll probably hold on to it a little longer!

Esteemed Contributor
Posts: 5,902
Registered: ‎03-12-2010

Re: Renting Or Buying A New Car

I will never lease a car again. Bought my 2014 car last December with double the miles of your Acura. Saved over 40% by buying a one year old vehicle. Bought DSs RSX in March, 2013. He is in the Army and will be taking it with him to Europe. No plans to sell because it's reliable, great on gas, small and sporty- and it's paid for, like yours.

Trusted Contributor
Posts: 2,621
Registered: ‎04-14-2010

Re: Renting Or Buying A New Car

I've never leased a car. We always buy them straight out and keep them for ages. I would hang on to a car with 17k on it, even if it is 13 years old. Better yet, sell it to me! We're going to be getting another car for my son--your Acura is perfect Smiley LOL

Respected Contributor
Posts: 4,014
Registered: ‎05-24-2016

Re: Renting Or Buying A New Car

Until your Acura starts costing you a lot of money in constant repairs, hold onto it!  Don't let anyone talk you outta that gem!!

With my last two vehicles, I was constantly asked if I wanted to sell my car by strangers in parking lots, and one annoying person from my old place of employment.  I've never wanted to sell, as I knew I had a good thing with both of these cars.  I loved them both and still do...would not be able to afford a new version😟

 

Honored Contributor
Posts: 69,397
Registered: ‎03-10-2010

Re: Renting Or Buying A New Car

I have a 2003 Saturn Vue SUV with barely 52,000 miles on it.  Always starts and runs well.  I mostly just run errands, get groceries in the area so don't need much of a car.  I'll drive it until it falls apart.  Have no need for a new one.

New Mexico☀️Land Of Enchantment
Honored Contributor
Posts: 17,892
Registered: ‎07-03-2013

Re: Renting Or Buying A New Car

Not a fan of leasing.  My sister leased twice and had nothing when the lease was over.  Start putting $300 away each month.  Pretend like your making a car payment.  Then when you get enough, buy.  😀

Respected Contributor
Posts: 3,985
Registered: ‎03-19-2010

Re: Renting Or Buying A New Car

@Jordan2

In 2003 I purchased a  used 2002 Acura TL-Type S with 17,000 miles.  I absolutely loved that car.  Unfortunately in 2013, the transmission failed with 49,000 miles.  I knew there were issues with some TL's and it had been recalled, but I figured after 11 years I was safe.  

 

It was an expensive fix, especially since I had been contemplating getting a new car, but It had to be done.  After that I just didn't feel comfortable with a rebuilt transmission, so I did trade it.  I still miss that car.

 

I have never leased a vehicle, but it has crossed my mind.  DH and I have just never sat down and worked the numbers in comparison.

 

All in all, if it were me and I really liked the car, I would keep it.  Acura during those model years were noted for their outstanding quality.  

 

Let us know what you decide.

Honored Contributor
Posts: 12,295
Registered: ‎03-27-2010

Re: Renting Or Buying A New Car

 I buy good quality cars with few miles on them and pay outright...then drive them forever.  Cars have become a major purchase.  The only way to win is to buy and drive it beyond the years you would have been making payments.  I am not of the "lease"mentality.  I'm not sure why you would even be considering it.  I've always thought of a lease is for someone who has a priority to own a new car.  Not my values.  I would keep your little gem of a car forever...why put yourself into a car payment.  Why start that merry-go-round?  Your decision of course, I hope you are happy whatever you decide.  That is what matters.