Early 30s First Time Divers - Lease VS Finance - ID4 or Something Else
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Anonymous
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We are in our very early 30s and finally got a license (didn't need a car before since DMV is very walkable, and we never drove back home either)
We are looking into buying a new car (safety features plus don't know much a out mechanics so want to avoid used). We test drove a bunch of cars and are very much leaning towards a VW ID4, after tax incentive they are relatively cheap plus had a nice drive (alternatives are Sorento and EV6 but are significantly more expensive, not sure if smart for first car). Buying cuz planning on starting family. First, lease or finance? Leaning towards lease because first car, don't know what we like or if Ev (ID4) would be way to go (and with battery technology improving, I am guessing many current ones will depreciate heavily). Next, ID4 or something bigger like Sorento (just concerned about price since first car and b maybe too big) |
Anonymous
| Leasing is a terrible deal. |
Anonymous
| No to a VW, and do not lease. |
Anonymous
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We have an ID.4, and it's great. I'd lease because (a) that guarantees you can max the tax credits regardless of your income and regardless of the battery manufacturing and (b) technology is still improving pretty quickly, and the cars that are available three years from now might have faster charging and longer range than the ID.4 does.
I agree that typically leasing is a bad deal, but the $7,500 tax credit is always rolled into the lease and you may not qualify for the full thing otherwise. |
Anonymous
Yeah we would only lease if EV due to all the incentives and etc. If gas would just buy because the math does not work out so well on lease vs finance on all gas cars we have seen (but works out great on ID4). With way battery tech is evolving (both in terms or cost and range) I would bet many EVs from today will be worthless in 5+ years. Just a little concerned with all the reports of infotainment issues and etc. Otherwise (be it lease or finance) would pull the trigger since it either 300/mo lease, or 32k to buy after tax credit which ain't bad either (id4 s). Our other top contender is a Kia Sorento (3 row mid size) and this would be a very future proof car (from space need perspective) but super concerned about driving that big of a car when we don't have much driving experience. |
Anonymous
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You have no kids; you don't need a 3 row car for at probably a decade.
Get a Honda or Toyota like a CRV or Rav4, hybrid is great, and will cost way less than ID4. Kia is fine, but quality is lower and you will have lower resale if you decide to sell. |
Anonymous
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We like how VWs drive but friends warned us off based on their experiences. We really liked the Kia Sportage hybrid but availability for the trim we wanted was low. We ended up with a Honda CR-V hybrid and have been happy enough with it.
Full electric? Maybe lease. Hybrid? Buy. |
Anonymous
Agreed VW and Audi drive great, but they are long term unreliable. They are for people who upgrade every few years. Has Kia been hurt by the theft problem? I assume new cars don’t have the same issue but it sure was a ding. |
Anonymous
Really unclear/doubtful the reliability issues of VW/Audi carry over to full EVs. I wouldn’t let past repair history of VW or Kia stop me from buying an EV from them fwiw. I leased an EV once bcs we got an incredible deal so I am sympathetic to the idea that EV leases can work out but be realistic about the cost and the fact that it puts a hard deadline on when you need to buy your next car. Generally buying works better. |
Anonymous
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No to leasing, no to a German car, no to overbuying and over paying. No to a car that is hard to park, no to a car that gets stolen often, and not to a car that is expensive to fix and hard to re-sell.
Get a small SUV if you are hard on the tires, have small parking spot, drive in the city often, and don't know how to parallel park. Most new cars come with great safety features. As a new driver you should be careful/mindful and not rely on the safety features too much. Any idea how expensive insurance is for you? How far is the dealership going to be and do you have a good mechanic nearby? There are super safe cars to be had for 0% interest from the dealer. After 5 years if your needs change, you can probably sell the car for half the value. Most cars are not that different. Once you get used to your car, all is good. You don't need to use every extra they have put in the car. In fact, you will find them annoying and will be fixing them as they break often. You need it to be wider for safety, low to the ground, tinted windows in the back to for the kid, probably hatchback for stroller, maybe 4-wheel drive. You need good acceleration on highway that Honda HR-V for example doesn't have. Also, be ready to be dramatized and ripped off at the dealership. Good luck. |
Anonymous
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Just buy a cheap, used car. Are you even planning on driving very much? You've made it this long and don't need a depreciating asset taking up space.
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Anonymous
Leasing is typically not a good idea financially. But in the case of a VW EV with depreciation that falls like a rock and iffy dependability, leasing might make some sense. But that begs the question of buying a different brand. Others mention it here. I also would not buy an EV unless you have another car. You can have a repair stuck in the shop for weeks. |
Anonymous
| Since VWs suck, you SHOULD lease them. As long as the monthly payment fits your budget, leasing is not as financially damning as posters in this thread are making it out to be. When signing, just don’t put any money down, pay only the first month’s lease payment, and drive away. |
Anonymous
| Not sure why the VW hate. Ours cost about 30k and we really like it. We own it outright. |
Anonymous
| I don't understand the "we." Are you a couple who both got licenses? |