would you ever buy new cars?

[vi edit]

Originally posted by: Accipiter22

Originally posted by: vi_edit
I'm fan of leasing. My household has the income to support it and I like not ever having to worry about dropping a dime in maintanence short of oil changes and I'm never out of warranty.

Lease a low depreciating vehicle at a good money factor and a residual that works in your favor and it's a much better deal than many people will give it credit for.

ballloooon payments?

Eh? No balloon payment about it. The residual on my Highlander is around $17,500 after 3 years/36,000 miles. At the end of the lease I buy it for that amount, sell it for that amount (or more and pocket anything on top), or just turn in the keys. There's a pretty good chance that the market will still be so good for my particular car that I can actually sell it to the dealer for more than the residual amount and roll that in as actual equity on my next lease.

Again, it's a gamble, but there's not going to be any surprises at the end of the deal.

 

[ponyo]

I've always bought new cars but in the future I plan to buy new car only for my work vehicle. My weekend and casual car will be 2-3 yr old low milage used luxury car. I put lot of miles on my work vehicle and I need super reliable vehicle. No compromise allowed on my work vehicle. My work vehicle is tax deductible so new is fine.