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Lease vs Buy, Golf GTI

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Old 12-28-12, 08:35 PM   #1
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Default Lease vs Buy, Golf GTI

Okay, so, I'm looking at a 2012 (used) GTI vs Leasing a brand new 2013 GTI, both with the same options (sunroof/nav, 2 door, manual)..The 2012 is 24,600 and the payment with my credit at 60 months is $430, and the car has 9,000 miles. The 2013 GTI is 340ish a month on lease with my credit for 42 months, 10000mi a year. The total payment on that car is right around 13,000 at 42 months, and the buyout price is right at 14,000. But that car is brand new with the options I want..what would you do, and why? I feel like the lease is a really good deal since the buyout is so much less after the 42 months, and a 3 year old GTI is going for around 16,000-20,000..and I drive maybe 7-9k miles a year.
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Old 12-29-12, 12:15 AM   #2
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One thing you need to focus on is what they are selling you the new one for. You need to learn invoice, rebates, dealer holdback, and how much over or under invoice they are cutting it to you. Buying based on monthly payments and residuals allows a dealer to make 1000's off of you and you not even know.

The rest is up to you. Do you want another new car sooner than later once the term is up? Leasing is good if you are a car nut and don't hold onto cars for long. You never realy gain any equity, but you get nicer, newer cars more often. Buying is more "expensive" monthly, but allows you to build equity so you eventually own and don't have a car payment (or you gain a lot of equity which you can cash in on if you sell the car). Only these are things you can answer.

Good luck!
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