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Should We Lease a Car?

My husband wants to lease a new car. We've always bought cars before and now that we have two small children I don't think leasing is a good idea for us. I know we won't put the milage on the Car/SUV but the kids will probably spill in it. What are the pros and cons of leasing?

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Thanks,
Amanda from Niles, OH

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February 2, 20060 found this helpful

Find out first what the cost is for miles over lease
allowance. If you put excessive miles on a car
in a year then you will know ahead of time.
ASK,ASK, ASK any questions about fees and lease
vs. purchase and write the answers down.
My husband is disabled and cannot do auto work
so we leased. However we had one bad LEMON
which was stressful but the company finally took care of it. Just be careful and research.
We own our auto now and it works for us.
Good Luck.

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By guest (Guest Post)
February 3, 20060 found this helpful

For me the worst part at the end is you have nothing to "trade in." It is more economical to buy a used car, and then run it into the ground..

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February 3, 20060 found this helpful

We leased a mini van 8 years ago; it was the worst thing we could have done! We thought we would NEVER eat up all the miles; we were over; we quit driving it for 2 months to avoid going over, and finally went to a car dealership to purchase a new vehicle and BUY our way out of the lease, rolling the pay off costs into our new car - what a MESS! I think that pay off of the lease is still rolled into my current car payment 2 cars later...NEVER AGAIN!

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By guest (Guest Post)
February 4, 20060 found this helpful

please DO NOT lease. We leased two cars a few years ago and when we saw what we would owe at the end and the the cars were not going to be worth it at all we ended up turing them back in and going through chapter 13. Now we are paying for cars we do not have, our credit is ruined and life will never ber the same again. Please do not lease!!!!!!

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By guest (Guest Post)
February 4, 20060 found this helpful

We leased cars two times back to back. I was completely against leasing, but my husband did it anyway. We went over the mileage the first time and came pretty close the second time. When the end of the lease finally came up, we bought a car......but we had nothing to trade in. I feel all that money was wasted over the years. The reason for leasing was that if anything happened to the car, all we had to do was bring it in, but we still paid for a lot of stuff to keep the car in shape.

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February 13, 20060 found this helpful

Consumer Reports Magazine has a lot to say about the pros and cons of leasing vs. buying. Their advice may help you make a decision that's right for your family or at least give you some proof to back up your argument so you and your husband can compromise.

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April 3, 20110 found this helpful

In my opinion a Lease is not good because after the lease ends you have nothing. Buying is better also keep in mind the lemon law applies to all new and used vehicles. So if you do lease or buy, and repairs are needed keep all records and be sure if the complaint is the same one, make sure it is written down exactly the same way every time. I am an automotive Lemon Law expert witness and have seem where a complaint is written down a little different, it causes a problem when the law suit was filed and we were in trial. So don't sign anything unless it states what you said exactly. If you buy don't buy the extended warranty unless it states (seals and gaskets are covered). This one little statement can save you hundred of dollars if you get an oil leak. Also ask for a Free loan car and a Zero Deduction when and if you do buy an extended warranty, be sure to read it in the contract and see it. A free loan car and a Zero Deduction can save you hundreds of dollar as well. I have seen in trial where the seller of the warranty said he did not ever remember saying everything about seals and gaskets was covered. So be careful there are a lot of crooks selling warranties that are not worth the paper they are written on. I am also a writer for Yahoo Community Network and advise people of this scam. Good luck and God bless you.

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