Oct
02
My lease expires in a year and half and I dont know if I should buy back or lease another?
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I leased a Golf in 2003 and my lease expires in July 2007, the buy back is 13 000$. I dont know what to do? Should I buy it or lease another one? I have put a 2000$ downpayment and have 42 000 kilometers on it. Confused?
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5 Comments
March 28th, 2009 at 11:31 am
It depens on what house or apartment it is. If the place is treating you right then go on and sign.
March 29th, 2009 at 11:52 pm
Well I hope you aren’t living in your car, but as for the lease I would say sell the car you are already probably upside down on it. (Meaning you owe more than its worth). Then find a good used vehicle for $1000-2000 and drive that for a couple years and use the extra money from the monthly car payments your used to pay to pay off debts and/or save for another vehicle and PAY CASH.
I give credit to Dave Ramsey for this information (see source). Follow it and it will change your financial future.
April 1st, 2009 at 9:57 pm
If you have Extremely low miles on the vehicle and you like it a lot then and only then should you consider buying your leased vehicle. If you own a company, leasing may be a better option because of the tax write off.
April 4th, 2009 at 4:46 am
Generally, a buy at the end of a lease is very costly if you include all that you paid during the lease. If you absolutely love the car, then it is not a bad idea. Good luck
April 5th, 2009 at 12:54 pm
LEASING A CAR AND THEN BUYING IT BACK FROM THE DEALER IS A DEALERS WET DREAM. YOU WILL BE BUYING THE CAR FOR APPROX $3000 TO $7000 MORE THAN IF YOU JUST BOUGHT IT OUT RIGHT. LEASING IS SUCH A SCAM UNLESS YOU ALWAYS NEED A CAR THAT IS 3 YEARS OLD. IF YOUR WILLING TO HANG ON TO A CAR FOR 10 YEARS THEN GO AND BUY A CAR. THEN YOU ONLY HAVE PAYMENTS FOR 5 OR 6 YEARS AND THE OTHER 5 OR 6 YEARS IS FREE YOU PAY NOTHING. THINK ABOUT IT.