Poll: Lease vs Buy - 2018 version

Do you buy or lease your vehicle(s)?

  • Buy

    Votes: 143 87.7%

  • Lease

    Votes: 7 4.3%

  • Both

    Votes: 13 8.0%

  • Other (please explain)

    Votes: 0 0.0%
  • Total voters
    163
I have looked into leasing but it has never been more favorable than buying... we tend to keep vehicles 5 to 10 years.
 
Just traded in my 14 year old car on a 2015 BMW convertible. Considered leasing (with the idea to likely buy it out at the end of the lease, since I historically have kept cars a while), but decided to buy. I haven't had a car payment in 10 years, so it's a little annoying.
 
We always buy, never lease. Given that we keep a vehicle "until the wheels fall off" the numbers don't work.
 
Would have been interesting to have poll include Buy New and Buy Used. It is what it is....
 
Buy.
I think the polls concurs.
 
Lease for DW - want her in a late model car at all times.

Buy for me - I like getting an old car or truck every couple of years. Current ride is ten year old Honda Element. I've fondly given it the moniker of Gamma Goat (Some ex-mil folks will know what that is - others can google it) as it is marginally competent at many different tasks; doesn't excel at any (that I know of - - - except maybe lasting forever).
 
It depends. For business vehicles, yes.

For personal vehicles, maybe.

For purposes of the poll put me down as a yes.
 
pb4uski said:
I have looked into leasing but it has never been more favorable than buying... we tend to keep vehicles 5 to 10 years.
Click to expand...

+1 we drive our cars at least 10 years and pay cash for them.

And making payments on anything is a pain! 1 payment in full is much easier.
 
I voted lease.. I don't think everyone should do it.. but this for me .. it's by far the best option... I tried this whole "buying used car to save money" thing twice... and I ended up deeper in the hole .. missing work and driving a worse car.. once I can unload this .. going back to leasing.. I love the peace of mind.
 
I voted both. First leased my car, then bought it out. Fully paid for and enjoying year round top down weather.
 
We lease. It's really more about getting a new car for a good price.

As we age we love (NEED?) the additional safety items like collision avoidance, back-up camera, lane control, auto park, remote start etc;
With a bad back, auto park saves me having to twist around to parallel park or resort to just mirrors.
My car even allows me to set up navigation/destination from my cell phone.
 
I got a new car bug up my bonnet this year and am buying new. My old car is only 8 years old with 80K but I want some of the new tech and was motivated by the "Spend that dough.." thread. :)
 
I'm currently in the leasing side of the votes, but can sway back to purchase, all depends on the deal.

My current lease payment covers the full value of the vehicle if purchased new in 10.8 years. So it's a break even with those who hold a car for 10.8 years just on the price of the car. I also don't have to shell out $$$ upfront to buy and can keep my money invested. In addition:

  1. I pay nothing for maintenance (the dealer will even come and pick up my car when it's time for oil changes/maintenance) and give me a free loaner.
  2. I also don't have to pay to replace worn tires, brakes and muffler.
  3. I don't pay for repairs, vehicle is under warranty for the term of my lease.
  4. I also get a new vehicle every 3 years, which let's me change my car based on my "need" or "want".
  5. I also get all the newest technology and safety features.

Leasing will not always work out as a good deal for everyone. Some cars just don't have good deals on leases. But it's another strategy for owning a car.
is just a strategy to owning a car which can be a good tool to keeping overall car ownership costs low.

For those who have never leased, you'll need to get educated on leasing, if not you'll end up getting a bad deal. A rule of thumb is that a good lease is when payment is 1% or less than the MSRP of the car. So if you have a $30K vehicle, lease payment should then be $300 or less (any taxes included) to be consider a good deal, and that is with NO MONEY DOWN (never put money down on a lease).
 
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always bought in the past.

will lease whatever is on special in the future.

can still buy out at the end of the lease if I want to keep it.
 
I always buy and have never leased. For the last 25 years, I have kept my car/SUV an average of 7.4 years and also pay cash for my vehicles. More than 25 years ago my cars were replaced every 3.5 years due to living in Texas and driving a lot of miles. Texas is a big state as you already know. I don't remember leases being popular more than 25 years ago and bought the new cars using a 36 month payment plan during that time.
DW is still driving her 2003 Saturn Vue bought new for cash for about $22,000 and has finally gone over 50,000 miles on the odometer this year.
 
We always buy. We select and test drive the model we want. We then find out what others are paying at dealers in the the area through various online sites. We then deal with the internet sales person at the dealership and negotiate an all cash out the door price before we step foot in the dealership to buy. The transactions go much smoother with pre-negotiated all cash offers. On my last purchase the dealer threw in free maintenance for the first 60000 miles.
 
Have always bought and do not have any intention to lease, but never say never.
 
From a financial perspective it usually makes more sense to buy, but leasing is advantageous sometimes in these situations:
—. You can expense the lease thru your business
—. The manufacturer wants to protect their brand equity and as such significant pricing concessions only show up in leases. This is common for premium brands such as jaguar bmw etc and is usually found in a low money factor or unrealistically high residual value.

Net of this is, if you are buying a premium brand always check the lease cost, there could be a deal out there!
 
Cayman said:
+1 we drive our cars at least 10 years and pay cash for them.

And making payments on anything is a pain! 1 payment in full is much easier.
Click to expand...

True, but for 0.9% I was willing to take a couple minutes to set up our auto loan on auto pay.
 
DW wants a new Caddy Escalade.... $97,500..... finance for 72 months at 4.49%..... 3 yr lease $952/month.... she's gonna be driving her 2006 Torrent and 2007 Trailblazer for a while, then she can drive my 2004 Colorado.... and I'll walk. Ain't blowing the dough yet on that one. She can spend what she wants with the pool boy after I'm gone, and we don't have a pool.
 
Currently we have the same number of voters (88) as the poll in 2006.

Here are the current standings:

2006
Buy 81 92.05%
Lease 2 2.27%
Both 5 5.68%
2018
Buy 74 84.09%
Lease 6 6.82%
Both 8 9.09%

Still showing that strong majority of voters here buy their vehicles, although leasing has increased, fwiw.

omni
 
^ So leasing is growing in popularity by 0.67% per year. If this trend continues it will be the preferred method by 2070. :)
 
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