What're the Pros and Cons of Either Leasing and Financing a car?

[HabitualChiller]

I want to finance a used 2008-2010 Lexus, but everyone I know is telling me to get something Japanese as my first car. One of my colleagues told me to consider leasing a new vehicle and it's been on my mind ever since. What say ye, Coli?

Also, if anyone wants to throw out suggestions, what type of Japanese car should I get? Any specific models?

By the way, I know that Lexus is Japanese. My co-workers don't, but I do.

Additional information: I rock with NavyFederal, I can put $5000 down, I'm shooting for a monthly payment of $125 or less; I'm in the process of getting insurance quotes for various cars, and I have a credit score of 710(I'm fairly new).

 

[Blessings]

I want to finance a used 2008-2010 Lexus..........That's not luxury, nothing but headaches...don't do it

 

[Saysumthinfunnymike]

Many Lexus brand vehicles ain't that expensive my first question would be why in the 2008-10 range, you can buy one outright for the money you talkin about throwing around

 

[Geek Nasty]

You buy a car and you can sell it. Cars aren't investments by any stretch but after 5 years of payments I can at least get something back if I decide to replace it. And, after you pay it off you can ride it until the wheels fall off. Nothing is more valuable than a car you know the exact history off that's used. No way you can replace that piece of mind.

 

[The Bookie]

Would you spend 7 years a slave? Many people today are just for a car. TBA explains. Listen to the end.

Can't be arsed to find the part where he goes in depth about "leasing", but the whole broadcast is a must listen.

Start at 13:10

 

[Blessings]

Can't be arsed to find the part where he goes in depth about "leasing", but the whole broadcast is a must listen.

Start at 13:10

was looking for this....great podcast

 

[HabitualChiller]

I want to finance a used 2008-2010 Lexus..........That's not luxury, nothing but headaches...don't do it

Talking from experience, I presume?

 

[TNOT]

I want to finance a used 2008-2010 Lexus, but everyone I know is telling me to get something Japanese as my first car. One of my colleagues told me to consider leasing a new vehicle and it's been on my mind ever since. What say ye, Coli?

Also, if anyone wants to throw out suggestions, what type of Japanese car should I get? Any specific models?

By the way, I know that Lexus is Japanese. My co-workers don't, but I do.

Additional information: I rock with NavyFederal, I can put $5000 down, I'm shooting for a monthly payment of $125 or less; I'm in the process of getting insurance quotes for various cars, and I have a credit score of 710(I'm fairly new).

The bolded tells me you don’t need to lease. That 5k could be used elsewhere and 125 won’t get you the car want.

 

[⠀X ⠀]

If you're getting something that old, just buy a car outright for like $7k

 

[HabitualChiller]

The bolded tells me you don’t need to lease. That 5k could be used elsewhere and 125 won’t get you the car want.

Used elsewhere? Do you have any suggestions?

 

[TNOT]

If you got 5 k saved use half that as a down payment and put the rest away.

I would go the traditional route if I were you. The lease you get won’t be what you want.

 

[DJ Paul's Arm]

First car? $125 a month? Cop a used early 2000 Honda Civic cash, is well taken care of and has a clean title.

 

[IrateMastermind]

Can't be arsed to find the part where he goes in depth about "leasing", but the whole broadcast is a must listen.

Start at 13:10

Not to derail the thread but who were the people speaking he used as a reference?

 

[O.T.I.S.]

We keep telling you not to put 5k down on anything

Either lease newer or buy it used. It will literally be your only bill seeing as to how you will receive a BAH if you move out the barracks.

The benefits of a benefits car is credit, warranty, knowing the history, depending on the car it might be able to be resold, etc.

Find a newer car for 7-10k, get a loan from Navy federal, put like 2500 down and just pay your low ass car note. You also don’t have to pay the bare minimum.

You’re like a fukking E4, you shouldn’t be that hard up to pay $200-$250 car note unless your insurance is trash.

But I mean you could blow the entire 5k if you got it like that

 

[Taharqa]

When I brought my 2007 civic, my homies were saying " you could've got a charger, lexus, or a bmw". Those same friends are paying a lot just for a car that breaks down. The same friends have those luxury cars that break down and ask for rides

For your first car, get something that's manageable and if you can buy straight out; with an inspection of course. If your income can tolerate a car note, and potential mechanical issues then I know damn well I love my civic