Should I buy a New or Used car or Lease a car???

Question

There is no easy white or black answer to this one. I've researched plenty and still can't decide what's best. I could buy used and save money, but the car doesn't come with a good warranty unless your willing to pay extra cash. It's also more expensive to insure a used car and the interest rate is usually slightly higher. However, a nice used car like a Honda Accord or Toyota Camry is still about $15K or more even with 40K miles on it. I could go with a new car like a Hyundai Sonata for about 18K brand new with a good warranty, but I don't like the body style as much and the resell value is horrible. Last, I could lease for a much lower monthly payment, but I would have to be very careful on mileage and I'm not sure about warranties on leased vehicles.

Answer 1

buy a (not very) used car.  Look for one that's only a year or two old.  You'll save money, plus it's better for the environment because a new car doesn't have to be made!

Answer 2

Leasing can be an advantage for those who know how many miles they need yearly. However, leasing does require a lot of commitment on your part since its is rather difficult/costly to get off a lease. Warranty on leases are basically covered by the manufacturer. Just don't lease a car beyond the basic bump to bumper warranty....i.e. if the car has a 36mo warranty, then don't lease for more than 36 months.

If you don't know how many yearly miles you need, then you need to buy a used/preowned car. It will save you money in the long run.

I personally like to lease and have done so for over 7 years. Driven BMWs, Audis, Acuras and I'm now on an Infiniti. Low upfront costs and reasonable prices make leasing a great choice if you take good care of the car and keep your miles within your limit. At the end of your term, you can even choose to buy the car off the bank. Think of it as rent with an option to own. If you want to.

Answer 3

I wouldnt lease. take the used camery for example. assumming the payment is about the same to lease new or buy used. In 39 months(or longer) u can trade the used in and move up a couple years.or with lease u have to start over. I go with the camery or honda

Answer 4

I buy cars, but I buy used cars.  Never buy a new car you don't plan on keeping until it's paid off (which is rare).  My freinds lease and they love it... I mean you aren't gonna keep the car after 3 years anyways right?  (Unless you're like me, I drive clunkers)

Answer 5

I would suggest to buy used.  do not buy a new car as the depreciation in the first few months is enormous.  I would say buy a used car.  That way, someone else has absorbed the depreciation.  You can get a good used car that will last much longer than a lease, then you still have a little resale value.  With a lease, you will always have a payment.  Buying a used car, hopefully you can pay it off and continue driving it payment free.

Answer 6

Get a certified used car.  They have low miles but the drive off the lot depreciation is already gone.  They are also checked by the dealer and mechanically sound and they have the original warranty still.

Answer 7

I suggest you buy new ones. I wouldn't trust used cars much. Compared to new cars, they cost you much money and in the end, you bought them used so it hurts a little more whereas new cars are new cars,, they're less in repair shop and more on the road and for at least 4-5 years, won't trouble you much except the oil change. So go for new ones. Plus the new ones give more good mileages compared to a worn out engine of used cars I believe. But if you must buy a used one then I suggest brands like Honda, Toyota, Hyundai, most trustworthy. If new ones the I suggest Nissan, Mercedes, and Ford brands.