mmarshall

If you like the idea of getting a new car every couple of years, and don't want the high payments of an actual purchase, consider a new-car lease, but only if you don't regularly drive more than 10-15K miles a year, take good care of your car's appearance, and don't live in an area where it is likely to be vandalized or damaged by storms. Leasing can be an attractive option for some people, and, if your car is used for buisness, under current tax-law, you can still deduct the lease-payments (though that could change if Congress and the President decide to change those laws in the budget-negotiations). The reason leasing is usually cheaper by the month is that you are only paying-off the car's projected two or three-year depreciation, not its entire sticker price. But, you have to make sure you understand (and accept) the mileage-limits and wear-and-tear clauses in the contract before you sign....exceeding them can cost extra money when you return the car after the contract is up.

Yanz

Thanks for the info.

I will look to buy. I also drive maybe 5k miles/year, so lease would not be a good deal I think? I plan to keep the vehicle for at least 8 years. Current vehicle is a 2000 Acura TL. Cars sure were cheaper back then haha.

I will take the advice here and see what good options there are for some bigger name luxury cars.

GrdnRxR

that does not include non-lexus cars...................... 55 total

tex2670

The past few new cars that I've shopped for, each time, I have found a 1-2 year old model for sale on the internet for MORE than the price I can negotiate for a new one.

UDel

There are many reasons people get rid of cars after a year or two, some people just like new stuff and don't mind taking the huge hits. I don't understand taking huge financial hits buying cars every year or so but I do see it happen, when I get something I make sure I like it and won't mind keep it for a long time.

Sulu

Another possible reason not yet suggested is fleet returns. Companies with large fleets, such as rental companies, may not keep them for more than 2 years. Less common now but more common a few years ago were the fleets kept as company cars for salespeople and as executive perks; those cars were turned over and returned to the manufacturer every year or two. That is less common now, as company cars are typically leased.

joshthorsc

Lol! You're my new idol.

I usually fall under number three as well but sometimes use reason number one or two as a scapegoat.

ArmyofOne

For me it has been not learning my lesson and buying what I wanted the first time around. My needs changed in 2010 so I bought my first truck. But I did not do enough research and ended up having to trade up to meet my needs in august of this year. Same Make, just different engine, model and options. The second one is the one I should have bought in the first place.