Lease or finance?

[hrosv]

Joe and I are looking into getting a car. My sisters boyfriend is general manager at McPhee Pontiac, and we know he can get us a great deal.. But I'm just wondering, what are the pros and cons to leasing and financing?

[dakota]

God if you got connections like that,you should definitely finance,he can give you a good price and a good interest rate.

[Chinimickolot]

Originally Posted by dakota

God if you got connections like that,you should definitely finance,he can give you a good price and a good interest rate.

I agree

[sunshinebee]

finance for us Dh found it was a better deal in the long run.

[hrosv]

But he really pushes leasing.. Also, we can't afford much more than a $300/month payment. You can't finance for that, can you?

[sunshinebee]

make sure you tell him that price.. and stick to ur guns.

we pay about 389 a month

[Krissy]

I would never lease a car....we got our car last year and financing made the most sense. Good luck!

[Browser]

In times past, leasing was a bad option. If you're not going to blow the mileage, there is nothing wrong with leasing as long as you get a decent finance rate. These days, leasing is just like buying and then selling after the term. The only time it doesn't work out is on something like a Honda which will hold more trade in value (More than it should due to marketing.)

Do the math and you'll see they're very similar.

[dakota]

Originally Posted by hrosv

But he really pushes leasing.. Also, we can't afford much more than a $300/month payment. You can't finance for that, can you?

No not for a new one,check with him and see if he has a good 2 year old one on his lot that he can pull some strings on.Good Luck

[HaLiGoOn]

This guy leased and paid the hard way.

http://www.hfx4sale.com/index.php/topic,25558.0.html

[hrosv]

Wow, thanks for all the input. My sister is leasing, and it's fine for her, so she said that's what we should do. I'm not so sure about that anymore. Anyway, I appreciate the info. It's good to know these things when you're a first timer like us. We're heading over now to talk to him - thanks for the opinions again! I'll let you know what happens.
Ooh, the suspense.

[joshua]

hrpsv- who is your sisters boyfriend?

[Krissy]

Originally Posted by HaLiGoOn

This guy leased and paid the hard way.

http://www.hfx4sale.com/index.php/topic,25558.0.html

someone should post this story because I am banned and unable to read it!

[hrosv]

SO - We still need to talk to the insurance guys and such, but we got a wicked deal on a deep red 2007 Pontiac G5. It's a 5-speed 2-door, and it's sharp looking - and drives really well! We got a lease, but we figured it out to be the best deal for us. Plus, it's waranteed for four years - which is when the lease is up.
It's great. You can see it at www.pontiac.com

[PeterM]

Originally Posted by HaLiGoOn

This guy leased and paid the hard way.

http://www.hfx4sale.com/index.php/topic,25558.0.html

Actually I didn't lease. And the car in the story is a perfect example of why leasing can sometimes be good. The car (lemon) I got stuck with was someone else's problem - a car they turned in after their lease. I made the mistake of financing it and now I have a car I couldn't give away if I tried.

Here's the simple breakdown, Heather:
Financing: Higher payments, but if you're confident in the quality of the car, is a preferable option because you will own the car after a few years.
Leasing: Lower payments, but you get to walk away from the car after 3 years and into another one. The downside is you never stop making car payments this way. And watch out for the km limits - the per-kilometre charges are high if you go over.