Automotive

New car time - purchase vs. lease

  • Last Updated:
  • Dec 9th, 2017 10:18 pm
[OP]
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Nov 28, 2016
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New car time - purchase vs. lease

Been a member hear for a bit now, and dont participate much, but see that some users on here have a good head on their shoulders, so though to put out my first question.

Looking for a new CUV to upgrade my wifes 9 year old car. Reason for selling is because we dont need 3 rows and 7 passenger anymore due to the kids being older and having their own cars. She wants to save gas and just have something smaller for the city. Nothing wrong with the car, its just past due its usefullness to us.

Saying that, we are thinking a smaller CUV type vehicle with AWD. Current one has AWD, and although she is willing to give up some things, due to our area AWD is needed most of the winter.

We have looked at a Buick Encore and a jeep Cherokee so far, but since we arent in a rush havent really been test driving alot. Jeep Im not a fan of due to its 9 speed tranny issues they seem to still have issues with

Im not sure if the Encore is a sub compact CUV, or how much bigger a mid size, or what models those are.

Dont want a car, and we already have a truck. 90% of the time its just her driving it, and for the occosion 5 people may be in it, not worries about passenger room really.

She doesnt care about Apple Play or things like that, she still uses cds. Although I know new vehicles dont have them, I can work around that with mp3's and a usb stick.

Now to add to the fun, we have always purchases are vehicles, mostly because we keep them for so long. But I know a lot of people lease, and what are the advantages to it compared to buying. And can you lease used even

And to add more, since its the end of year, whos got the best incentives right now?

I do plan on doing some digging myself, just thought to use the board here for another way to get some info I may miss. Thank you for your time
63 replies
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Aug 22, 2011
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I buy my vehicles, as I like to keep them for as long as possible and also don't want any mileage restrictions.
[OP]
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Nov 28, 2016
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Out west
vkizzle wrote: I buy my vehicles, as I like to keep them for as long as possible and also don't want any mileage restrictions.
Never thought of milage, what are the restrictions? I know Ill be going to a few dealerships to ask them, but Id like to get in non salesman terms on here

If we do lease would be the first time in 30 years, as we do keep vehicles for a long time. One was 14 years, another 10, another 8, current 9, and another almost 6 between the two of us.

Is it true with a lease people do it until the warranty expires, then just go in and get a new one, you just lose out on all your money you put on the lease. Kind of like a permanent rent of the vehicle?
Newbie
Nov 28, 2017
58 posts
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Hi!

Based on your vehicle usage, I would highly recommend purchasing as opposed to leasing (you typically also get better pricing at a dealership for a cash purchase vs a lease.

As far as the vehicle - there are many options available - too many to list. What you have to consider though is that if there is a 2017 version oft he vehicle you want out there, it may not be equipped the way you want it (it may have more or less - may even be an unpleasant color!). So, it maybe worthwhile to just go with the 2018 model and get it exactly how you want it.

Again, all depends on the vehicle, model and trim level you choose.

Hope that helps.
[OP]
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Nov 28, 2016
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Autobroker wrote: Hi!

Based on your vehicle usage, I would highly recommend purchasing as opposed to leasing (you typically also get better pricing at a dealership for a cash purchase vs a lease.

As far as the vehicle - there are many options available - too many to list. What you have to consider though is that if there is a 2017 version oft he vehicle you want out there, it may not be equipped the way you want it (it may have more or less - may even be an unpleasant color!). So, it maybe worthwhile to just go with the 2018 model and get it exactly how you want it.

Again, all depends on the vehicle, model and trim level you choose.

Hope that helps.

Thanks for the info, I know asking about vehciles on here is kind of a broad term, all I know is we can get away with not worrying about needing the fancy stuff, not a selling feature at all.

Maybe something like a Mazda Cx-3, although some say it might be too small, but wont know until she drives one. No sense me doing it, I will barely be in it.

I will have to go in to ask about lease, maybe it wont work the way we want it, or could open up some avenues we never thought of to.
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Jan 8, 2006
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I like to buy 4 years old car with less than 100k km with cash. and either Honda or/and Toyota.
Also I noticed that you have more leverage if you pay cash at dealer ship and buy car return from the lease as they have around 60km mileage and decent condition.
[OP]
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comp_freak wrote: I like to buy 4 years old car with less than 100k km with cash. and either Honda or/and Toyota.
Also I noticed that you have more leverage if you pay cash at dealer ship and buy car return from the lease as they have around 60km mileage and decent condition.
All personal choice, used to pay cash, now we dont. Last vehicle that I wanted if I paid chas I would of had to wait 5 years to get it, and then not have the vehicle to use during that time. I did however pretend I was paying cash, then swicthed to their 0% financing, that way I know the price was the same. So in theory it cost me nothing extra to do it that way.

If we are upgrading a 9 year old vehicle, I want to go more than 5 years.

All depends on the price and the find as well, its not off the table, but for the most part buying used like that you are stuck with something you 100% dont want, but make due with
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I always say buy it, otherwise you're paying off the depreciation for someone else while having mileage and maintenance conditions over your head, then you return it once the depreciation levels off.

The only reasons I can understand for leasing are if you want to drive a new car every few years, can write it off as a business expense, or want to avoid the hassle of selling.
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My brother just bought a Buick Encore. Lovely compact. Got it from New Roads, asking $21,000 for a 2016 model with only 4600kms. Got it for much lesser than asking. I agree, you should buy. If you are aiming at the sub compact cuv models, look at the Chevy Trax, Mazda cx3, Nissan Rouge and GMC Terrain. From what I'd gather, a lot of people in the same market as you tend to buy the Nissan.
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[OP]
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Nov 28, 2016
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M1K3Z0R wrote: I always say buy it, otherwise you're paying off the depreciation for someone else while having mileage and maintenance conditions over your head, then you return it once the depreciation levels off.

The only reasons I can understand for leasing are if you want to drive a new car every few years, can write it off as a business expense, or want to avoid the hassle of selling.
Thats true, Not a fan of "being controlled" when it comes to cars. And to me 3 years a car your just getting used to. And since I hate care shopping, every 3 years would be a pain in the ass. And cant write it off or anything either

But is it good if you want to just have a car and never worry about car repairs? I guess I have to look at my history of maintenance, we rarely have issues with vehciles, due to I follow things to the letter when it comes to fluid changes, etc, etc
[OP]
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Nov 28, 2016
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koffey wrote: My brother just bought a Buick Encore. Lovely compact. Got it from New Roads, asking $21,000 for a 2016 model with only 4600kms. Got it for much lesser than asking. I agree, you should buy. If you are aiming at the sub compact cuv models, look at the Chevy Trax, Mazda cx3, Nissan Rouge and GMC Terrain. From what I'd gather, a lot of people in the same market as you tend to buy the Nissan.
See thats a nice find, and we did test drive one. Was really nice to whip around in the city compared to the long 3 row CUV. I know the Trax is like the cheaper version of the encore.
Newbie
Nov 28, 2017
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Not a problem.

you are absolutely correct - your wife should go and test drive as many SUVs that fit your budget and requirements. Once she selects one, then you can worry about 2017 vs 2018, lease vs purchase, etc.. The reason is that manufacturer programs and offers change on a real time basis (or monthly at a minimum), and whatever lease/cash programs are in place today will be different in January.

So, pick the car first, then analyze the programs offered through the manufacturer website (don't rely on dealership sales people to be honest with you - do your research.

Good luck and I will gladly respond to your future comments if you like.
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Aug 22, 2017
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WikkiWikki wrote: See thats a nice find, and we did test drive one. Was really nice to whip around in the city compared to the long 3 row CUV. I know the Trax is like the cheaper version of the encore.
To be honest, I would get the Encore. I've rented it a couple of occasions, and find it nicer to drive compared to traditional SUV. But if your winters are cold, don't know how it'll handle, as I see your in SK. I would stay away from Mazda as it rusts ever so often, and it seems like it'll be a daily driver for your wife. Get the Encore or I'd probably say look into either a Toyota CH-R or a Honda CRV. Both are lovely vehicles and very good on gas.

Good luck.
[OP]
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Nov 28, 2016
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Autobroker wrote: Not a problem.

you are absolutely correct - your wife should go and test drive as many SUVs that fit your budget and requirements. Once she selects one, then you can worry about 2017 vs 2018, lease vs purchase, etc.. The reason is that manufacturer programs and offers change on a real time basis (or monthly at a minimum), and whatever lease/cash programs are in place today will be different in January.

So, pick the car first, then analyze the programs offered through the manufacturer website (don't rely on dealership sales people to be honest with you - do your research.

Good luck and I will gladly respond to your future comments if you like.
Problem is we dont a few dealerships here to test drive. No local Mazda, and I think reading the reviews of comfortable seats and great handling, would be something she would like. She would want that over Apple Air play, or nav, I know there are a few things she will want to keep, AWD isnt negotiable. Power lift gate has alwasy been handy for us. But now with no kids, might not need it as much.

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