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

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CBartowski
Frequent Contributor

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

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.

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Anonymous
Not applicable

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

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?!!!

Message 2 of 4
Anonymous
Not applicable

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

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.

Message 3 of 4
pinkandgrey
Senior Contributor

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


@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.


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. 

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