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Do you own or lease your car? Advantages and disadvantages of each?

Posted by Mop (aka rburriel) Dec 24 '18, 10:43

I'm starting to warm to the idea of leasing. It's a lower monthly payment although at the end of the day, you don't have a car. But if you own, you're paying more and after you're done paying it off, it's only a matter of time until you start paying maintenance costs which can equate to monthly payments. I guess it's the renters/owners debate all over again.

Responses:

Own. But I'm trying to sell it. (NM) - Marlowe Dec 24, 15:58
If you're the type that needs the shiny new (to you) car every 3 years, lease. If you enjoy driving your car into the ground over 10 years, own. -- nm - Strongbad Dec 24, 13:58
Buying new, warranty to cover the length of payments -- nm - zeitgeist Dec 24, 12:47
We own both of ours free and clear, both were bought used, maintenance costs haven’t really been an issue yet, 73k miles on one, 20k on the other. -- nm - Super Daddy Princess Dec 24, 11:50 1
- Maintenance costs on my (new to me) used car (2012 model) have me very anxious. - Mop Dec 24, 11:59
I've avoided leasing in the past due to potential wear and tear on our field trips. If the Xterra continues to run well I - Meg Dec 24, 11:25
i seriously thought about leasing. my concern was mileage. since - tRuMaN Dec 24, 11:14 6
- That's a good tip. I'll have to do the math on that. -- nm - Mop Dec 24, 11:15 5
  - I leased once and I was always worried about the mileage. I ended up in a lengthy trial when the lease was up and I didn't have time to negotiate or - jnine Dec 24, 13:36 3
    - So over both terms, how many years, and was the total more ir the same as if you bought? I'll guess much more -- nm - zeitgeist Dec 24, 13:46 2
      - It was about the same as if I bought it because the dealer who owned it had sold it to some other dealer who didn't sell those cars anymore so they - jnine Dec 24, 13:52 1
        
        btw: you are a great santa stalker, love the album and xmas orn and really love the coffee mug, goes well with the moose I have -- nm - zeitgeist Dec 24, 14:58
  - I've had several friends owe so much on their lease return that they end up buying their own car back and the payments end up a total 10 years -- nm - zeitgeist Dec 24, 12:50
We own one and lease one. - Dark Callisto Dec 24, 11:03
I own both my cars, and have since day one. No payments. Not an option for most people, but it's a great stress reducer. -- nm - Beryllium Dec 24, 11:01 4
- Also, this is part of what's preventing me from getting an EV. -- nm - Beryllium Dec 24, 11:18 2
  - Any time you want to discuss the practicalities of owning a Model 3, let me know. -- nm - TWuG Dec 24, 12:33 1
    - We would need an X. - Beryllium Dec 24, 13:02
- (I've never owned a new car, though) -- nm - Beryllium Dec 24, 11:04
We own one and lease another. - Volnelk Dec 24, 10:54

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Do you own or lease your car? Advantages and disadvantages of each?

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