Out of curiousity, how many of us are leasing and how many buying?

 

Leasing.
- peace of mind for issues
- Good equity at end of lease (Toyota/Lexus)
- New car every 39-48 months.
- Only pay tax for what you lease and not the whole car's value
- Will have latest technology and safety

I always go back to this site for reference: Lease vs Buy

 

Good points and interesting article. I've debated the choices over the years, but never been able to make leasing work for me. For one thing, I need more annual miles. I'm always considering the options though.

 

I buy. But the other advantage of leasing is if the vehicle gets totaled the lease is done. Start over. Otherwise it’s a large loss.

 

I have full replacement coverage for my car, valid for 5 years. Our 2020 RX was stolen last Christmas. Owned it for 25 months and the insurance company paid me all I paid for it and then some for a few of the add ons I'd installed. Would apply if the car was totalled as well. So it depends on your insurance coverage too.

I too could never get the math to work. With the value retention of these cars, I just think it's better to own. Prior deal to buy the now stolen 2020 RX included a private buyer who bought the previous 2015 RX from me. He bought it from the dealer as if I'd traded it. Saved me the $ in tax on the new one.

 

I have never leased a car. As much as I like new cars I don't feel the need to continually have one, so I'm fine with having payments for five years followed by no payments at all for five years. Works for me.