Dubey 1,035 Posted January 19, 2016 Share Posted January 19, 2016 for the record, I think every manufacturer except for Mitsubishi (and with some models, Dodge) is making really quality cars right now and you really cant go wrong. You should buy the car that you are most comfortable with. Link to post Share on other sites
Dubey 1,035 Posted January 19, 2016 Share Posted January 19, 2016 Bob, true, but depreciation matters a whole lot Link to post Share on other sites
FCP Bob 1,312 Posted January 19, 2016 Share Posted January 19, 2016 Bob, true, but depreciation matters a whole lot Isn't that just factored into the lease payments though when somebody is leasing ? Lower expected depreciation equals lower lease payments. Link to post Share on other sites
Dubey 1,035 Posted January 19, 2016 Share Posted January 19, 2016 who said anything about leasing? Link to post Share on other sites
iBeaver 409 Posted January 19, 2016 Share Posted January 19, 2016 Yeah I lease. 3 yrs. I again have the disease where I require a new car every 3 yrs. I hate buying tires/brakes/etc. id rather pay $250/mo to not have to ever pay a mechanic one red cent ever Link to post Share on other sites
digitalmonkey 929 Posted January 19, 2016 Share Posted January 19, 2016 Spoiled brats! Link to post Share on other sites
MapleLeafpoker 1,462 Posted January 20, 2016 Author Share Posted January 20, 2016 Spoiled brats! agree! lol I try to go 10years per car. Link to post Share on other sites
Babying 613 Posted January 20, 2016 Share Posted January 20, 2016 agree! lol I try to go 10years per car. I like changing after 5 years Link to post Share on other sites
iBeaver 409 Posted January 20, 2016 Share Posted January 20, 2016 My budget barely gets me a $17k car if I buy. Or a $25k car if I lease. Plus I don't ever have to spend any money on repairs or maintenance since I give the car back before the warranty runs out. I also don't want used because I don't want to spend extra $ on top of my car payment on repairs or maintenance. I get a better and safer car this way. Plus I'm Spoiled brat who likes the new car smell. I've had the buy vs lease argument/debate a million times. It's not a simple debate and depends a lot on each individual's budget/finances. For us leasing is perfect. Leasing allows us to get 2 new cars every three years or so that are safe and reliable (so far, knock on wood). If we bought we'd be driving two tin cans in wheels. To give a general idea on what prices I've been getting.., The Jetta is $0 at signing and $227/mo The Subaru is $263 due at signing and $255/mo The GTI is $665 due at signing and $295/mo 36month/10k miles Before you make a comment about miles, my Accord which is 3 yrs old in March and has 16k miles on it. Link to post Share on other sites
Zach6668 513 Posted January 20, 2016 Share Posted January 20, 2016 That's pretty solid. Do you factor in what insurance will be in the budget? Or are all of the cars you look at similar enough that insurance just stays basically the same regardless? If you don't mind, how much does insurance run someone like you per month? Link to post Share on other sites
Zach6668 513 Posted January 20, 2016 Share Posted January 20, 2016 My insurance back when I owned an older car was only about $100. Guessing it'd be more on a newer car? But $227 lease + $100 insurance + $100 gas (more? less?) per month is a pretty reasonable price for full mobility. And I'm assuming parking probably isn't a big expense given your location either. And with no real maintenance expenses, that's pretty sweet. Link to post Share on other sites
iBeaver 409 Posted January 20, 2016 Share Posted January 20, 2016 Wife deals with insurance so no clue what the actual # is. I'll ask. But yes those cars are all pretty much in the same ball park. Well except for the GTI which is why she said no lol. Parking is free everywhere I go so yeah. I guess the rare night we eat downtown then it's like $2. And I spend maybe $40 a month in gas. Link to post Share on other sites
Zach6668 513 Posted January 20, 2016 Share Posted January 20, 2016 Wife deals with insurance so no clue what the actual # is. I'll ask. But yes those cars are all pretty much in the same ball park. Well except for the GTI which is why she said no lol. Parking is free everywhere I go so yeah. I guess the rare night we eat downtown then it's like $2. And I spend maybe $40 a month in gas. Nice. Works out to a pretty reasonable amount for transportation. Link to post Share on other sites
MapleLeafpoker 1,462 Posted January 20, 2016 Author Share Posted January 20, 2016 I've had the buy vs lease argument/debate a million times. It's not a simple debate and depends a lot on each individual's budget/finances. Ya, I have always wanted to keep track of my repairs to see if it would have been better to just lease 3-4 yrs at a time, or to buy and hold. I dont know...guess it depends on so many factors. Link to post Share on other sites
Zach6668 513 Posted January 20, 2016 Share Posted January 20, 2016 Having an older car is such a drain on maintenance... The car I sold was an 01 Focus... And just every so often randomly some $1500 repair would be needed. Probably because I deferred routine maintenance due to being broke, but you know.... Having maintenance covered in the lease is a pretty phenomenal perk, even if it's far less likely that a new car will require major expensive work. Link to post Share on other sites
MapleLeafpoker 1,462 Posted January 20, 2016 Author Share Posted January 20, 2016 Having an older car is such a drain on maintenance... The car I sold was an 01 Focus... And just every so often randomly some $1500 repair would be needed. Probably because I deferred routine maintenance due to being broke, but you know.... Having maintenance covered in the lease is a pretty phenomenal perk, even if it's far less likely that a new car will require major expensive work. Maybe I dont know enough about leasing, but there are usually still lots of possible repairs that are not covered by leasing, in my experience. Link to post Share on other sites
Zach6668 513 Posted January 20, 2016 Share Posted January 20, 2016 And it's those surprise $1500 repairs that are a complete killer when you're on a tight budget, barely getting by... and when your car is the only way you can get around. Had a few emergency situations like this before I moved to Toronto. Link to post Share on other sites
Zach6668 513 Posted January 20, 2016 Share Posted January 20, 2016 Maybe I dont know enough about leasing, but there are usually still lots of possible repairs that are not covered by leasing, in my experience. Oh maybe. I know nothing at all. Link to post Share on other sites
FCP Bob 1,312 Posted January 20, 2016 Share Posted January 20, 2016 If you're going to drive an older car it's so important to do the routine maintenance from the beginning of owning it. It also really helps to have a good mechanic who you can trust. There are things that need to be fixed and things that can be fixed. I've been really lucky with my Jetta. The Volkswagen dealership I bought it from is close to me and they have always proven trustworthy when I took it to them for service. Now I take it to the Uncle of one of my longest term friends who has a shop here in Scarborough for the last 25 years. I've been told that the rear axle bushings could be replaced for the last 7 years but don't have to be. That would probably be a $500 or so repair for example. Link to post Share on other sites
iBeaver 409 Posted January 20, 2016 Share Posted January 20, 2016 Maybe I dont know enough about leasing, but there are usually still lots of possible repairs that are not covered by leasing, in my experience. I've had let's see...2 toyotas 1 VW and 3 Hondas (all leased). Ive spent $0 on repairs. The first Toyota I paid for oil changes then I learned to always get them to offer free oil changes the life of the lease. My VW was in the shop numerous times but never paid a cent as it was all under the 3 yr/36k warranty. Since dating my wife she has leased 1 Subaru a VW and 3 Hondas. She also paid only for the Subaru oil changes. That's just our experience. Link to post Share on other sites
MapleLeafpoker 1,462 Posted January 20, 2016 Author Share Posted January 20, 2016 Steve I would guess that a big part of your experience is based on your rather limited use of the cars and your short leases. Most new cars prob don't need anything changed in 36 months of only 30k driving. What I mean is, if I drive about 30k a year, and have a 4 or 5 year lease, I'm guessing at some point during that lease I would have to change the brake pads or rotors or something. Just a guess on my part. Link to post Share on other sites
Ottawa_Biatch 288 Posted January 20, 2016 Share Posted January 20, 2016 And it's those surprise $1500 repairs that are a complete killer when you're on a tight budget, barely getting by... and when your car is the only way you can get around. Had a few emergency situations like this before I moved to Toronto. If you did regular maintenance, you probably wouldn't get those $1500 repairs... Link to post Share on other sites
iBeaver 409 Posted January 20, 2016 Share Posted January 20, 2016 Steve I would guess that a big part of your experience is based on your rather limited use of the cars and your short leases. Most new cars prob don't need anything changed in 36 months of only 30k driving. What I mean is, if I drive about 30k a year, and have a 4 or 5 year lease, I'm guessing at some point during that lease I would have to change the brake pads or rotors or something. Just a guess on my part. Rule #1 of leasing, never lease a car longer than its warranty. If you are getting a 5 yr lease it is always recommended you buy instead. If you are getting a 5 yr lease you are doing it wrong. Best lease prices are 36-39 mo leases. 4 yr leases are pushing it and pointless as your monthly payment is higher than a 3 yr. Ford Fusion SE leases. 10.5k miles 36 mo $247 39 mo $245 48mo $279 Ford offers no 5 yr lease plan 60mo buy $419 Regarding my limited use, that's only with my current car since I haven't had to drive to a job in over 3 yrs. I usually got 15k mile leases and went over my mileage a few times but you can haggle out of that sometimes. Think my first lease I paid $420 for extra miles. My first 2 Honda leases I went over but getting a new Honda got me out of it. Basically if you know you drive over the alloted miles then leasing is not a good option and you'd be better off buying. Link to post Share on other sites
Dubey 1,035 Posted January 20, 2016 Share Posted January 20, 2016 if you actually do all scheduled factory maintenance for the first 3 years, it is still $1200-$1500 (probably more for VW a Subaru), though I completely understand why you wouldn't do it on a leased vehicle if they don't make you. Link to post Share on other sites
iBeaver 409 Posted January 20, 2016 Share Posted January 20, 2016 if you actually do all scheduled factory maintenance for the first 3 years, it is still $1200-$1500 (probably more for VW a Subaru), though I completely understand why you wouldn't do it on a leased vehicle if they don't make you. Lol yeah, I don't do that Link to post Share on other sites
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