First, you can clickmore than one answer in this poll!

TAZ asked the question about the Top 10, which got me to thinking... Here in Michigan 80% of people Lease their vehicles, but outside of Michigan, I heard it is only about 5% of people lease. So this is the reason I ask the first question.

The reason for the second. When I was a kid, people either paid cash for a car, or financed it up to 36-Months. I had a neighbor who bought a New car every year! Now people finance up to 60-Months and we now have people financing Suburbans & Tahoes up to 96-Months. But more often than not, most people trade their vehicles in after 36-months regardless of how long they financed them for... Not me... I buy, because I drive a car into the ground (235,000+ on my last car -- sold itrunning like a champ)

 

hellz yea, thats the way to go man, i keep my cars until they die on me. My 85 iroc z28 had to go cuz my ex ran it w/ no oil and blew a rod through the block... i was PISSED!!! but hey, ya know... now i have my monte and i will prolly pass it down to my kid. Who in 18 years will be like WTH why would i want a car that is 45 years old... ARE YOU SERIOUS!

 

[align=center]Hi `Craig,[/align][align=center]I've just got out of my teens and have owned 3 cars : )[/align][align=center]1. 95 Honda Del Sol VETEC,[/align][align=center]traded evenfor a 05 Monte Carlo LT mint conditon (Rich Kids Car : ).[/align][align=center]Traded 05 LT for a 06 LT3 plus $1K difference : )[/align][align=center]Sold LT3 for $18K to pay for school/living expense.[/align][align=center]The last one was the best one.[/align][align=center][/align][align=center]I seem to buy what I can't afford...I'm working on building my credit rating.[/align][align=center]Now, I'm riding my friend Honda motorcyle & my skateboard : )[/align][align=center]`Craig, it's a interesting post topic : )[/align][align=center][/align][align=center]I will be looking forward to how the member's vote in your poll.[/align][align=center][/align][align=center]I can't wait to get my 86SS....Probate court takes a aweful long time [X(][/align][align=center]I've looked at other Monte's, but they don't come close to the price[/align][align=center]or the condition of the one that I've found so far.[/align][align=center]It's difficult being without a Monte : (, but good things are worth[/align][align=center]waiting for : )[/align][align=center][/align][align=center]Wish the reader of my words a `Happy.[/align][align=center][/align]

 

Actually... If you do not keep a car more than 3-years, LEASING is very smart. Payment is cheaper, the car is always under warranty, and if you own a business, the expense is a tax write-off. A Standard Lease is 15,000 per year, a Low-Mileage Lease is 12,000 miles, and an Ultra Low Mileage Lease is 10,000-miles per year.

Heck a 2008 Impala MSRP of $22,095 (with not hidden cost) would lease (36-months/45,000-miles) for $349 with ONLY $588 Due at signing. (36-Months/36,000) for $331, and $318 for a (36-Months/30,000) lease. VS, $451 for a 60-Month Buy.

 

Never leased. So I can't answer about that part?

An ex-g/f of mine leased a Cavalier for the local Chevy dealer some years ago. Itspun a rod bearing and since it was a leased car they repaired it and gave her a loaner till it was done. Which was a smart move I guess. But being a year old and spinning a rod bearing wouldn't Chevy have repaired the engine anyways?

I keep my cars forever + 1 day. OR for the majority I do.
ex. My very first car. This july we celebrate 36 years together. My 3rd car in august we celebrate 33 years together. 5th car this month we've been together 27 years. And so on.

 

Craig,

The main thing about leasing is that you don't take the depreciation, the bank takes the hit.

When you buy a $15,000 car, you payments average $350 a month for 5 years.

When you lease a car, your payments are $250 a month for 3 years and you turn it back in and get another one or you refinance the residual.

You should net about a $2k savings or a $5k savings (the depreciation) if you buy the residual straight up.

The bitch is trying to stay under 15,000 miles a year and never get into an accident.

Since a car is the number one negative equity item we can own, the bestest thing to do is buy the whole car straight up. Of course that is impossible for 95% of us.

 

anyone besides me think that unless youre net worth is up around $1M, buyin a new car, OR leasing one is just financial insanity?

 

The "Thumb Rule" on Leasing or Buying is pretty simple; actually.

You BUY the car you can afford!

You LEASE the car you want!

 

My mother used to work at a Buick dealer. They had a customer who would come in every year and buy 3 new cars and pay cash. Must be nice.

 

unless you got plenty of money i would not lease.for one the car is not yours,you will never stop having a car payment and does not matter how low it is cause my 0$ dollers per mth. is better then any of that!
it is the best feeling when you finally get that car paid for and it is offically YOURS and no more payments.
i guess it boils down to if you like a new car often and financially stableto do so.