Should CanCo buy or lease a new automobile? [No MS Paint Included yet]

[CanConfirm]

Hey, Gang. CanCo here.

Buying or leasing a new car in the next few days. Not sure which makes sense, would love to hear from some absolute studs who have done something similar in the past. Also, I didn't want to include this in KatKid's thread, since this seems like a different discussion.

Background:
The car being purchased/leased is big enough for current CanConFamily and hauling art to various shows, but the family might expand in the next few years. Thus why leasing is part of the equation.

Questions for goEMAW elites:
1) Do you get absolutely fleeced on leasing a car, or is it a way better deal than buying new?
2) What are the benefits (free service, etc) on leases?
3) Car might be used for road trips to KSU Cat Purple University games. Does it make sense to lease (mileage restriction) if long trips will be taken?
4) What else?

Obviously I'm , but hate the idea of giving extra cash to KStateCars.com or similar when I could be spending it on other elite things like having McArabias flown in for lunch.

[GoodForAnother]

leasing makes sense if you need a brand new car every 2-3 years. buying makes sense if you don't.

[wetwillie]

You have no idea how disappointing this thread is without An MS Paint.

[Pete]

leasing makes sense if you need a brand new car every 2-3 years. buying makes sense if you don't.

This.  End of thread.

[CanConfirm]

GFA and Pete, I appreciate the zeal with which you responded. However, I hope this isn't actually "/thread."

LLIQ here:

1) What if I drive in a big pothole and one of the wheels falls off? Does the dealer fix it?
2) How do taxes work for leases? I have a Canadian friend who lives in an area with high sales tax, so the tax bill on an outright purchase for him is pretty steep.
3) Do I have to return the car in pristine condition? That might be a problem, as I have some Canadian friends in the backseat who sometimes like to drink a few too many Bud Light Limes and can make a car pretty dirty pretty quickly.

I'll listen hang up and listen off air. Thanks to anyone with HLIQ who answers these (and other!) questions.

[GoodForAnother]

GFA and Pete, I appreciate the zeal with which you responded. However, I hope this isn't actually "/thread."

LLIQ here:

1) What if I drive in a big pothole and one of the wheels falls off? Does the dealer fix it?
2) How do taxes work for leases? I have a Canadian friend who lives in an area with high sales tax, so the tax bill on an outright purchase for him is pretty steep.
3) Do I have to return the car in pristine condition? That might be a problem, as I have some Canadian friends in the backseat who sometimes like to drink a few too many Bud Light Limes and can make a car pretty dirty pretty quickly.

I'll listen hang up and listen off air. Thanks to anyone with HLIQ who answers these (and other!) questions.

1) You're still responsible for maintenance, insurance, damages, etc
2) Depends on the state but usually you pay taxes monthly on a lease
3) No idea, I would assume they want you to return it in a reasonable condition and you'll need to stick to a mileage limit as well

[pissclams]

leasing makes sense if you need a brand new car every 2-3 years. buying makes sense if you don't.

This.  End of thread.

if you own your own business, leasing is absolutely the way to go because you will receive tax credits against any amounts paid/due for the amount of time the car was used for business purposes, which of course is 100% of the time, the irs can suck it.

so if you lease a porsche cayenne turbo and pay $20k/year in payments/maintenance/etc, guess  what.  boom, $20k written off.

mileage concerns?  leasing company can suck it and eat the overage, otherwise you can take your business to the other leasing agent across the street.

people like GFA and pete, who dismiss leasing as they did in this thread, can also suck it for being complete dumbasses.

[Dr Rick Daris]

so in short, if you own your own business and the new car you want is a porsche cayenne turbo, then it might make sense to lease. if not, then buy.

[Pittcat]

I've leased two cars for my wife. I also currently work in the automotive industry. Here's the deal:

new car for a used car payment

basic maintenance is usually included (but can be taken out of the contract to lower the payment a bit, it's marginal though);

taxes are typically paid monthly as part of your payment so the initial DMV visit isn't nearly as bad as if you we're buying

when your lease is up, you don't have to return it to the same facility. As long as the trade in value is more than what is still owed on your lease, you can put that equity towards a different vehicle.

Mileage restrictions can suck. But like 'clams said, tell the dealership to eat it or you'll go elsewhere.


My expertise: I've purchased/leased tons of vehicles, one time I even managed an outright purchase and didn't have to pay sales tax on it.

[pissclams]

rick daris, his post was funny