To make a generalization, leasing is better for anyone who plans to keep there cars 3 years or less.

For everyone else, buying is probably the better option. Even better financially...buying a used car that just came off someone else's lease.

Personally I prefer owning my own car and keeping it while, without restrictions limiting how much I'm allowed to drive it.

 

not always. many who lease drove it like a rental car and/or didn't maintain it.

 

*cough cough*

 

Leased a s550 for work back in 06 i ALWAYS put 87 when i took the car and we did total of 2 maybe 3 oil change for 40k miles. We took good care of it even it was a lease

 

I have a friend who prides himself on leasing cars and NEVER changing the oil or washing the car. He adds oil when it gets low, but never changes it during a 45,000 mile lease.

 

Leases are at an all time high, isn't unemployment and repossessions also at an all time high, you can't have one without the other

 

That's nice.

 

[QUOTE=SteVTEC;8124401 When you lease and then flip to a CPO at lease end, with BMWs you get the CPO warranty on top of that to 7yrs/100k miles, which is worth a good chunk of change by itself. [/QUOTE]

BMW CPO warranty is now 6yr/100K

http://www.bmwusa.com/Standard/Conte.../Warranty.aspx

 

I'm actually amazed that leasing companies don't put maintenance requirements in the terms, just like they put mileage restrictions.

 

thanks guys. that's exactly why i'm a little leery of that 'good deal' just off lease car. abuse like that may lead to expen$ive problems down the road.

exactly but perhaps that would crimp the lease volume and for mb and bmw in particular, this is their business model - lease most new vehicles, then sell these 'cream puffs' as cpo later on for a big profit.

lexus obviously does ok on cpo but i bet a lot higher percentage of lexus are bought than mb/bmw.

 

They do, they just don't enforce documentation.

I always thought an off lease car would be great until I met that guy! I suppose its like anything else, look for maintenance records, etc.

 

yeah maintenance record are key to any purchase...you really don't know how hard the car's driven or what have you so it is always a risk you are taking in a used car purchase

I've been lucky a few times that I was able to find old registration/insurance cards and what not in the owner's manual/trunk, including with my GS now. with my GS, I searched and contacted the owner while at the dealer, even met them for a quick brunch (on me of course) that same afternoon and discussed the vehicle before I bought it from the Lexus dealer in Naples.

definitely dig through the car thoroughly before purchasing, never know what you'll find that can be helpful towards the buy.

 

how are they going to enforce it though, people can diy and there will be no "records" so to speak

 

that's something i thought about doing but never did. was the previous owner weirded out when you contacted them? might try and do this if i buy a used/leased car again next time.

 

when I contacted him, he assumed I was with the Lexus dealer and that I was just looking for details on the car. when I further explained myself, he was a bit hesitant at first but I told him my reasoning and tried my best to declare my innocence with my intention of the call.

he understood (gave me the benefit of the doubt really) and provided me some details by phone and just chatted on the cars history itself. I told him there was some paperwork he would probably like to have that was left in the vehicle and would be glad to meet him across from the dealer at the cafe to provide them, as well as more in-depth details I would like to discuss. he agreed, met me about 2-hours later and it worked out well for me. I was able to obtain the trade-in price he received on the car, the full-history report (which was all dealer maintenance suggestions done timely) and pay just $500 over what they gave him for the car on his new purchase, plus the dealer fees.

having that info to use against the sales manager was a big advantage...couldn't have gotten a better deal on a low-mileage (still very low too), fully loaded, 1-owner GS300. I walked on the used car lot looking for a Tacoma X-Runner I saw online and came home with a mint GS300

I'd suggest doing it anytime you have the info available, the worst they can say is no and you'll just have to move on with your own risk of the vehicle. this is my 3rd time doing something in similar fashion with good results...hopefully it continues!