topic Re: Lease? Or wait? Please help! in Auto Loans

Lease? Or wait? Please help!

arrestad — Sun, 26 May 2019 12:27:05 GMT

Hello all!
I am in a tough spot as far as acquiring a new vehicle. I am currently pregnant with our second child and in desperate need to upgrade the space of my 2016 Mazda (my husband is super tall and crammed in my car already without a infant carseat). I have my eye on the highlander, it satisfies all the requirements on our list. Here's the issue:
Our baby is due later this year, and I need to upgrade for space reasons before she is here. I am in the process of receiving some inheritance money from my father's passing and want to put it towards the new vehicle. However, we really love the new 2020 highlander and it's not available yet. We are exploring the options of leasing a 2019 for two years since we need the vehicle soon, and then opt for purchasing the highlander at a later date. BUT, I've heard how negative leases are.

Should we just try to get by for a year when the 2020 is available? Or lease a 2019 in the short term until the one we really want is available?

Any help from you all would be amazing, I'm so torn.

Re: Lease? Or wait? Please help!

Shooting-For-800 — Sun, 26 May 2019 13:53:05 GMT

There is nothing negative about leasing if you get the right deal.

Same as “you should never buy a brand new car”

Best time to buy a car is when you do have to...

Just take your down payment and add to all payments and add to the end of lease buy out.

Compare that to price of new car financed total.

Compare that to cost of buying and selling for lease period.

Compare that to depression percentage of same model from X amounts of years ago.

GL!

Re: Lease? Or wait? Please help!

pinkandgrey — Sun, 26 May 2019 19:32:06 GMT

Here’s the way I see it. I understand wanting to wait to get the car you REALLY want (2020 Highlander). However, I would NOT want to buy or lease another basically new car as a placeholder. Is there any way you can make the Mazda work until the Highlander comes out at the end of this year?

If you really need just “anything” right now, maybe a reliable but older, used car? Something cheap that will hold you over until the end of the year? Again, this is just the way I would look at it because my OCD, crazy mind wouldn’t want to buy or lease an expensive car that I didn’t really want and then hold onto it for 2 years pining away over my dream car lol

Re: Lease? Or wait? Please help!

arrestad — Sun, 26 May 2019 20:26:40 GMT

Thank you!

Re: Lease? Or wait? Please help!

Anonymous — Mon, 27 May 2019 16:15:24 GMT

The Highlander is set to release in Dec 2019. You said the baby was due later this year (its practically June). I don't know how many months, but let's pretend 3 - So you will be in Sept - that means you will only have to make due for 3 months. So I'd wait and get the car you actually want?