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Lease or Buy

L

lukatmyshu

Senior member
So I decided that I am going to get a new car and I am trying to decide which one and if I should lease or buy it. I'm currently 23 years old making 62,000 a year .... I'm due for a 15% raise as well. I've decided that I either want an Acura TSX (grew up driving a legend and just love the way that Acuras drive) or a BMW (because who can resist a BMW). The TSX would be new (around 2700) but the 330 would be used (probably a 2002 with 25,000 miles for 28,000 or so). In the mean time I was wondering .... maybe I should just lease a BMW ...I'm already saving a good amount of my salary towards a house so at this stage I think I can be good to myself and buy a really nice car. In either case I have about 15,000 that I can put on a downpayment to the car.
 
leasing wouldn't be a bad alternative, but remember you have nothing to show for it after three years.

i lease because it's a business write off and plus i couldn't afford the car i have now if i had bought it.

it also depends on how much you drive as well.
 
Depends on your other finances. I make a similar amount of money and purchased a new A4. However, I feel like it is a financial burden now that I have 2 cats, am paying a bit more rent, and am contributing to a 401k.
 
Originally posted by: torpid
Depends on your other finances. I make a similar amount of money and purchased a new A4. However, I feel like it is a financial burden now that I have 2 cats, am paying a bit more rent, and am contributing to a 401k.
Click to expand...
is that a joke or a typo? since when are cats a financial burden?!?! 😕

oh, OP - where do you live?


=|
 
What is the minimum period for a lease? 24 months?

I think I am going to be out of the country in 2 years, so I'm actually considering a lease too.
 
well, on the other hand, I would suggest buying because those two cars hold their value quite well so you can re-sell them after 2/3 years and get the "most" of your money back.
I would lease cars if they depreciate more than the others in its class...
 
Originally posted by: theNEOone
Originally posted by: torpid
Depends on your other finances. I make a similar amount of money and purchased a new A4. However, I feel like it is a financial burden now that I have 2 cats, am paying a bit more rent, and am contributing to a 401k.
Click to expand...
is that a joke or a typo? since when are cats a financial burden?!?! 😕

oh, OP - where do you live?


=|
Click to expand...


The cat is not the burden, the car payment is. But, the cats probably cost me about $100/mo or so when you consider toys, food, litter, and medical expenses.
 
Originally posted by: Passions
So can I ask what you do for a living?
Click to expand...

Looks like he works for the Department of EE, UCLA in 53-138 (Cubicle N14), Eng. IV Building
Sometimes, he work's from his advisor's outer office, which is in 6723 Boelter Hall


 
Originally posted by: andylawcc
well, on the other hand, I would suggest buying because those two cars hold their value quite well so you can re-sell them after 2/3 years and get the "most" of your money back.
I would lease cars if they depreciate more than the others in its class...
Click to expand...

High residual values result in less expensive leases. You're essentially paying for the depreciation so I think you have that backwards.

To the OP: Think Honda Accord on that salary, not 3 series.
 
I'd personally never lease unless I owned a business or had some insane amount of money, but chances are that if I had an insane amount of money I would have a car collection so I probably wouldn't lease.
 
Originally posted by: CChaos
Originally posted by: andylawcc
well, on the other hand, I would suggest buying because those two cars hold their value quite well so you can re-sell them after 2/3 years and get the "most" of your money back.
I would lease cars if they depreciate more than the others in its class...
Click to expand...

High residual values result in less expensive leases. You're essentially paying for the depreciation so I think you have that backwards.
Click to expand...


oh, okay, I had it wrong for all these years... thanks for correction.
 
Between those two I would get the TSX hands down. However as somebody else mentioned is an Acura TL not in your price range?
 
As a TSX owner, of course I'm biased, but I did look at a new 330i when I was in the market last year. TSX won it for me for a couple of reasons;

1) Fuel economy
2) Bang for the buck
3) It's a Honda (that can be good or bad) but the reliability should be excellent
4) Vain but true, it's a lot less common than the 330i
 
I see a lot more TSXs than 330's. But I will grant you that I see a lot more 3 series cars in general than TSX's.
 
it seems i have the exact same taste in cars as you

both are nice and actually considered those but decided on getting a mazda 6
it is not as luxurious as the other two but after test driving one it is not bad at all and perfect for me
22 years old, making slightly less than you 54K but i dont pay any rent so

i am currently waiting for the 05's so i can get a heavily discounted 04

if you RSX is an option the 2005's are a lot nicer than the 2K4's if you are willing to get a 2 door

if you can find a nice used 330i than i would go for but you are looking to pay at least 28 K for it

so i would probably go for the TSX since you can get it loaded with NAV and it is one sweet car

but i would recommend at least taking a look at the mazda 6 and RSX 2005 A spec (not out yet)
 
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