Automotive

finance or lease a new middle-tier car?

  • Last Updated:
  • Jan 9th, 2017 9:15 am
[OP]
Newbie
Nov 17, 2013
9 posts
2 upvotes

finance or lease a new middle-tier car?

I've been thinking if I should lease or finance a brand new car, at the of the year 2017, to benefits a lower interest rate and I need opinions on it.
it is hard for me to decide because I only drive during the weekends and maybe a few occasion during the week. I take commuter transport for work.
In the past experience, I own a honda civic for reliability, I've been 4 years that I have it and it has only 35k been driven. lol which is not a lot...

I'm interested in the following 2017 model: Q50 2.0t, Lexus 200T or Acura TLX tech. or maybe I am better off with a used car? Or any others brands
Last edited by AndyH459 on Jan 5th, 2017 4:17 pm, edited 2 times in total.
14 replies
Deal Expert
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Jul 30, 2007
25425 posts
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Toronto
luxury + drive 2 days per week at most + pay like $500+ per month + slightly higher maintenance costs + probably higher insurance = Garage queen ... this does not sound like a good case in getting a new car. My 2 cents
Deal Guru
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Jul 12, 2003
10603 posts
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Toronto
Why would you lease (in another word: rent) when you won't probably drive mon-fri?
I would just uber everywhere or rent a car if I need to.

You save tons of money for car insurance and car payments.
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Penalty Box
Aug 3, 2006
192 posts
37 upvotes
Arviat
get a use car for sure. you put so little KM on it, might as well get a used car 3 year old around 50000-60000 km for 1/2 of the new price. you can still sell it after 3-4 years for a good price b/c of low KM put on.

if you really want the new car feel then you can do a low-km lease 12000km/yr for 3-4 years.
Deal Addict
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Jul 26, 2007
4543 posts
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If you aren't going to drive alot, buy your luxury car. Because of low kms and it being future garage Queen, it will sell for better market value and positively come out ahead compared to leasing it.
Deal Addict
Jun 26, 2009
3273 posts
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GTA
Never considered these to be "luxury" :-)
Deal Expert
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Jul 30, 2007
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any car brand dealers that have a customer lounge that serves some fancy espresso coffee would be luxury. Winking Face
Sr. Member
Jan 22, 2015
649 posts
170 upvotes
You already have a Civic with only 35K on it. Makes no sense to buy a new car for how little you drive it unless you like throwing your hard earned money into a bottomless pit.
[OP]
Newbie
Nov 17, 2013
9 posts
2 upvotes
I own a very old model honda civic like 2001 and I just want an upgrade to a recent model. fun to drive and comfortable
Deal Expert
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Jul 22, 2006
21809 posts
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AndyH459 wrote: ahaa it's 100k + 35k on it
Oh wow 135k

Is the body in good shape? What trim?

Aside from wear and tear you probably won't have to dump a couple thousand dollars until car hits 190-200k
Deal Fanatic
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Mar 1, 2005
5097 posts
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If you just want something with newer gadgets and conveniences, buy a car that's a couple of years old.

No point in buying or leasing a brand new car just for it to sit 70% of the time and depreciate.
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[OP]
Newbie
Nov 17, 2013
9 posts
2 upvotes
Yeah, i might consider an used car instead of leasing or financing a brand new car. What are the options i have to sell my car?

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