Community Chat

[Imadickens]

The real question is how much do you drive a car in a year? If it's well over 15,000 miles it's not a good idea financially to lease as you pay a hefty price for mile overage. Are you hard on your cars, looking like it has been through a war zone? If so, I would not recommend leasing. Also, are you satisfied with what you have, or when the next new gadgets come out are you eager to have them? Does your car look brand new even if it's 10 years old? If so, buying is probably not for you!

in answer to your question, yes, you are given the buyout figure at the time you lease your car. We have found that is usually steep as the dealer can get a fair price for a car with low mileage! 

Is there a good reason you want to get rid of your car with low mileage? If it runs well, you can probably sell it for a good price as long as it is in good running condition and looks good. Also, you can get shorter leases! Just be careful of payment price! Usually the advertised praise is after a large down payment and does not include taxes and license plates! Good luck!

p.s. My ds works for a large dealership and he and my dh and I have just been through this, so I'm pretty confident what I'm saying is true!

[Tyak]

17,000 miles in 13 yrs.  That's just a bit over 1000 miles per year.  I'd be thinking if I even needed a car if I only put that amount of mileage on it.

[Desi]

Jordan2, I would say keep it unless you are really tired of it and don't want to invest to add options you like in new models.  Please add my name to all the posters who would love to buy it - I have 2 sons who can't find a decent car at a good price (I'm in metrowest Boston). If you are anywhere nearby and decide to sell.

[Jordan2]

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@Desi wrote:

Jordan2, I would say keep it unless you are really tired of it and don't want to invest to add options you like in new models.  Please add my name to all the posters who would love to buy it - I have 2 sons who can't find a decent car at a good price (I'm in metrowest Boston). If you are anywhere nearby and decide to sell.

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@Desi, my 2 nieces leased cars this year, second time for both. My nephew just leased a car about a month ago and my sister is also leasing a car, a 2017 Acura (she and my brother-in-law always bought cars).In the case of my nieces I think they grow tired of their cars and like getting a new one every 3 years.

[Desi]

Jordan2, some people love to have the latest and greatest. Personally, I like the older cars. I don't use the fancy bells and whistles and just want safe, dependable and comfortable.  Only you can decide if you want to lease. Maybe rent any vehicle you are considering for a week to make sure you want to tie yourself to a lease and it's costs. 

[Jordan2]

I'm the OP with the 2003 Acura RSX. I still own the car. Something funny happened today. I had to take my elderly mother to the beauty parlor this morning. I go out before my mother and I'm wiping the condensation off the windows. This young woman of about 17 or so asks me if I'm selling my car. I say no, why, she says she has had her eye on it. She says it's the perfect size. I told her how old it was, she couldn't believe it. I was  kind of flattered and weirded out at the same time. Maybe I should have asked her how much she would give me for it!

[shoekitty]

We just bought a new Land Rover, and wow!  That car is so wonderful to drive, it just is so smooth, quiet, and hugs the road.  We have a 1999 suburban which I love, and a 2014 Fiat which I love too, but can't drive with back issues.

I highly recommend the Land Rover!  We decided to bite this year because they are changing the body style to be like the Range Rover, and every single car out there

my dilemma was I do not care for the new style of car and suv.  They all looked like they were squeezed out of a birth canal.  Whether it is a Honda, BMW, Mercedes, Ford Or Subaru they all look alike.  You can't tell one model from the next if you take the icon off the car!  Cars are expensive and a huge investment.  Most cars cost more than my first home.  If I pay all that money, I wNt something a little unique.

[croemer]

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@Tyak wrote:

17,000 miles in 13 yrs.  That's just a bit over 1000 miles per year.  I'd be thinking if I even needed a car if I only put that amount of mileage on it.

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That might be true...I had a 2006 LexusGS(in mint condition) before all the technology and even more safety features...it only had 26,000 miles on it but we decided it was time to trade it in..in July... before it became worthless and purchase a new SUV. I decided on the Lincoln MKX Black Label and I am a happy camper. Drives like a dream, safety galore, lane assist, camera's and a banging REVEL 19 speaker sound system. None of which I had in my beloved Lexus. Sometimes it is just time.

[Noel7]

@Jordan2

I bought a new car two years ago.  Ours had been stolen, I didn't wait, just got a new one.  The police found the old one that DH had loved a few days later. The thieves had done quite a bit of damage so we got rid of it.

Got a call last night from close friends who had just gone out and bought a new Honda Civic.  They love it.

[Irshgrl31201]

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@Jordan2 wrote:

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@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? 

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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!

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Yes, I would keep your car if you can. Why not? If you want a new car sell your Acura and buy a new one with cash. If you don't have the money, save it until you do. I personally would buy a car that someone else drove off the lot. You will save a lot of money. The average American spends too large of a percent of their yearly income on cars so buying one someone else bought that is a couple of months or a year old is the way to go unless you have a high net worth. Cars depreciate so fast, it just isn't worth it for the average American.