Car: Buy 2-3 yr old used or Lease New?

[CBartowski]

As the title suggests...I pitch it to the forums.

I'm familiar with many arguments on both sides of the isle but am curious what frugal folks think.

[Anonymous]

Purchased several pre-owned automobiles with 9,000 to 23,000 miles and the new car warranty. Good pricing and had good luck with the vehicles. Sometimes I would work out a deal with a dealer I could trust and they would check the auctions. When a close fit came up the dealer purchased the vehicle and I would buy it from them (*note there was no mandate I would buy - dealer had a set of specs and if it was close they bought knowing I may not lock the deal). Used this method for several vehicles and have had it work well. Note, you need a dealer you can trust?!!!

[Anonymous]

Are we discussing same level of vehicle with these choices (i.e. Buy a 3 year old Lexus vs leasing a new one, or 3 year old Lexus vs leasing a Kia optima)?

Assuming same type of car, I prefer the choice of a 3 year pre-owned. Preferably not the first couple years within a new generation. You can usually get the warranty on a pre-owned to last as long as you'll likely keep the car, too.

Leasing is just throwing away money...and the like restrictions are crazy low most of the time. I've got a life to live and places to go.

[pinkandgrey]

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@Anonymous wrote:

Are we discussing same level of vehicle with these choices (i.e. Buy a 3 year old Lexus vs leasing a new one, or 3 year old Lexus vs leasing a Kia optima)?

Assuming same type of car, I prefer the choice of a 3 year pre-owned. Preferably not the first couple years within a new generation. You can usually get the warranty on a pre-owned to last as long as you'll likely keep the car, too.

Leasing is just throwing away money...and the like restrictions are crazy low most of the time. I've got a life to live and places to go.

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I second the pre-owned. Personally I hate the idea of leasing. I would much rather OWN my car. Like Rebuilt said, leasing is somewhat throwing away money.