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Reply to "Leasing VS Buying"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are also debating leasing vs buying. We own our car outright and the dealership said we should expect 2-3k a year in repair costs. We could lease a new 3 series for 3k down and 300 a month. So for around 1,500 more a year we could drive a new car and not face any repairs or maintenance costs. I understand how some think buying is better financially but at the end of the day it seems both options suck. When you buy you're investing in a depreciating object. You face repairs on a car, especially the older it is. When you lease you're just renting a car but avoiding the maintenance costs. I'm at a loss as to what to do. [/quote] Most leases do not include maintenance costs. You'll be under warranty for most of a lease, but you'll still pay day to day maintenance. [/quote] But how much maintenance should the car require? [/quote] With a Hobda, very little. But watch out for dealer service departments....[/quote] So you have to pay to service the car?[/quote] YES. You have to pay for Oil Changes, tires, breaks, any damage to the car. They expect the car to be in 100% functional condition upon return. Some leases allow some low threshold of required work. In my case, I had a 2012 VW Golf TDI I turned in last fall. It got ugly -- it was right after dieselgate broke. Car had no damage, was under mileage. All maintenance. But, I had replaced the tired with non-oem tires; the tires were the same size, and same quality, but different. [b]They did not want to take the car back. Frankly, they did not want the car back.[/b] In the end, I ended up paying for new breaks ($600), and they took the car. [/quote] At lease end, the leasing company will inspect the car. Sometimes they send someone, sometimes you bring it to dealer. You are allowed a specific amount of wear and tear - minor door dings, paint scratches, a certain amount of wear on the tires, etc. Excessive wear and tear is charged to you - so you cannot turn the car in with bald tires, a muffler dragging, etc. As far as taking the car back, it's their car and has been the entire time, just like a rental car. They don't have any choice. They would have taken it as is, but you would have paid dealer cost for the repairs you did yourself.[/quote]
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