General Question

Deepness's avatar

Cars: Buy outright? Swap-a-lease?

Asked by Deepness (1135points) July 9th, 2009

A few days ago I posted about taking my current 325i in for a fixin’. Now, only two days later, it needs plenty more fixin’. So It’s car buying time again for me. Once again, I’m confused.

What are the pros and cons of buying a car (ex $30k) outright versus leasing it or taking over someone else’s lease?

My neighbors have BMW M6’s and M5’s. They go the swap-a-lease route. They take over the remainder of someone else’s lease. This allows them to get new cars every 9 or 10 months.

If I were to buy a car outright, would I still want it 3 years down the road? Should I lease my next car?

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4 Answers

qualitycontrol's avatar

I guess it depends how rich you are. I would die to own my car and not have this monthly payment. I’d say the best way is to buy it out right because at least if you get bored you can sell it. I thought about leasing a car but it seems like a bad investment because you don’t ever get to own it unless you have an option to buy, otherwise your just renting it and paying depreciation. I’m a year into my car loan and it sucks because I’m upside down in my payments so I’m stuck.

marinelife's avatar

Leasing costs a lot of money and at the end of the day you do not own the car. Real bad idea.

westy81585's avatar

Don’t lease. Either buy it out right, or if you can’t afford to buy it out right, suck it up and buy a cheaper car.

Leasing is a HUGE retarded move.

msright1981's avatar

I agree with both westy81585 & Marina leasing will only rip your money and at the end of the day you don’t own anything. You might want to search for a car which is in your budget & buy it out right to make sure you don’t waste tons of money on interest. You might want to search for used cars from their owners directly online just like on & where both have plenty of cars from the owner directly which is usually cheaper than the dealership.

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