Renting Or Buying A New Car - Page 5

151949 · ‎03-09-2010

@QueenDanceALot ITA with you. Leasing is usually not a good deal, but for people like my DH and your friend it is less expensive than buying new cars all the time.I just can't understand his obsession with new cars - he loves the car for about 2 years then , bingo, he hates it and has to have a new one. Thank goodness he had company cars all those years or we would be in debters prison by now.

QueenDanceALot · ‎04-18-2013

@151949 wrote:
@QueenDanceALot ITA with you. Leasing is usually not a good deal, but for people like my DH and your friend it is less expensive than buying new cars all the time.I just can't understand his obsession with new cars - he loves the car for about 2 years then , bingo, he hates it and has to have a new one. Thank goodness he had company cars all those years or we would be in debters prison by now.

My only point with my work acquaintance is that she is always crying poverty. It's not like she needs a new car all the time. She just can't stand the idea of driving an older car for some reason.

I think it's because she's something of a Princess, but that's just my observation.

DiAnne · ‎09-22-2010

Cars are not a good investment because they decrease in value and leasing a car makes no sense unless it is in some way a business write off on your taxes or it is the only way you can afford a car.

febe1 · ‎01-22-2012

To some people a new car every year is important and leasing is the way to go. They see a new car as a status symbol, just as important as your home. What's important to one is a waste to others.

Shorty2U · ‎03-09-2010

I would keep that car you have. As far as leasing, we did it once to have a lower monthly payment, but then ended up paying like double for the car when we decided to keep it/buy it. Will never lease again! Total waste of money IMO!

And in the end, the love you take is equal to the love you make~ The Beatles

Jordan2 · ‎03-16-2010

@queendiva wrote:
@Jordan2: I can see see why, assuming you bought your RSX new 13 years ago, that you would want something new. May I suggest an alternative? We have already established that the car you have has super low mileage, is highly valued for it's reliability and low cost to maintain, and as such has retained much of its original value.You have no payments and your insurance is low on an older vehicle. You drive your car very little. I suggest that any time you feel like it, go to Enterprise or any car rental business and rent any car you like for a weekend. Have fun! You can afford it! Weekend rentals are less expensive and you can drive a new car all weekend, and the next weekend you can drive another new car, different color, different model, etc. I have rented a convertible in the past-just for fun! I also suggest getting your Acura professionally detailed in and out. I promise you, if done by the right detailer it will look like new!

IMO you really cannot justify the purchase of a new car because your present car will serve you well for many, many years to come and you just do not drive often or far enough to justify the purchase (or lease) of a new car. Cost per mile is just too high for you.HTH.

BTW- is your RSX a 2 or 4 door model? The one I bought for DS is Titanium (golden tan) coupe with same color leather interior and rear spoiler. Classic styling and looks as good or better than many new cars.

My Acura is a 2 door, no spoiler and cloth seats. I like the backup camera because for one thing I'm only 5'3" and can't see over the back when I'm parallel parking. Also by the time you look around the car and reverse you may not see a small child or animal behind you. I just think the camera is a great safety option to have.

ROMARY · ‎04-28-2010

I'm thinking that if it is used for your company/work, probably leasing is a good idea. I'm going to look around for a small mini to use just around here; not for fast moving freeway driving. Just for grocery shopping and parking within a 5 mile radius. Those mini's aren't necessarily the safest on fast-moving, crowded freeways, imo. But they are very cute to drive a few blocks here and there. I believe one needs a signficant down payment to lease a car, depending on our credit history. Good credit, and the d/p and the monthly payments are lower.

'More or less', 'Right or wrong', 'In general', and 'Just thinking out loud ' (as usual).

queendiva · ‎03-12-2010

@Jordan2: aftermarket rear view cameras are readily available and quite inexpensive to buy and have installed. Please look into having the camera installed and the car fully detailed. I think you will be very pleased with the investment in the car you already own! And don't be surprised if someone offers to buy your car once they see the mileage. The 2 door has the greatest resale value. That model had a short run- 2002 through 2006. As my RSX was in my name until very recently I know it;'s resale value with such low mileage and excellent original condition is over $10,000.00. That should put a smile on your face!

Jordan2 · ‎03-16-2010

@queendiva wrote:
@Jordan2: aftermarket rear view cameras are readily available and quite inexpensive to buy and have installed. Please look into having the camera installed and the car fully detailed. I think you will be very pleased with the investment in the car you already own! And don't be surprised if someone offers to buy your car once they see the mileage. The 2 door has the greatest resale value. That model had a short run- 2002 through 2006. As my RSX was in my name until very recently I know it;'s resale value with such low mileage and excellent original condition is over $10,000.00. That should put a smile on your face!

@queendiva, I went to the Kelly Blue Book website to calculate an estimate and it came up with $6,000. I paid about $20,000 brand new, I would think $10,000 is rather high for me to expect to get. I know selling it privately would yield a better price than a trade in, but do I really want to have people coming to my house and trying to low ball me on the price, no! I remember my father selling his car (he also took good care of his cars and they had low mileage). My next door neighbor's girlfriend was interested in the car. Her father came to look at it and tried to haggle my father down from his asking price. My neighbor was embarrassed, the father ended up buying the car for my father's asking price. My father had his principles and kept steadfast to them (he has been gone for 15 years)!

queendiva · ‎03-12-2010

@Jordan2: It all depends on your location and comfort level in selling your car. I paid about $6200.00 three years ago from a dealership for my RSX, The car had 112k miles on it and needed two tires. I was happy with that price as it was listed for over $7000.00. I recently sold my 2004 BMW SUV with 153k miles in very good condition (needed tires) on Craigslist (first time selling on CL) for $5000.00 to a lovely young family. A couple of callers were jerks, but I just ignored them. Your mileage is so low it's "off the charts" in terms of resale.

You can see my previous post for what I would recommend if you were my sister. Please do not be in a hurry to sell and DO NOT use your car for trade in . You will probably not be offered more than $1000.00- that's why I went the Craigslist route.

If/when you do decide to sell, try to find a trusted friend or family member to sell your car for you on CL, then use that cash toward the purchase of a car at a time of year when you can get a good deal on your chosen make and model. Enjoy that RSX while you have it. I know there are Many, many, many individuals and dealers who will offer well over $6k for your car. You can list it as Best Offer over $7500.00 (or whatever price).

Never meet at your house to sell your car. Meet at your local police station. There are cameras there and you can exchange CASH ONLY for the title A reputable buyer will have no objection to that. You can also close the sale at yout closest motor vehicle office. I printed up a form from my state MV website indicating Final Sale of the car for both parties to sign.

RSXs in my area with under 100k miles go for top dollar at dealersips and generally sell in a day or two. A car such as yours is in great demand- do not underestimate that!