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Today's Huddle debate: Buying vs leasing a car?

pstall

By pstall,
in Huddle Lounge

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Hawk Newbie

Hawk

Posted
Posted

in my opinion, and with the way the rules play out in Canada anyway, unless you have a business or something that you can write off those monthly lease payments, there is no advantage to leasing a vehicle. yes, you can argue that the monthly payments are typically lower so you can afford to drive a nicer vehicle, but you never own anything and essentially rent the vehicle for the length of the term. Then you need to worry about mileage and damage etc. If you can't afford the monthly purchase payments on a vehicle, I'd suggest buying slightly used or getting a lower value new vehicle. I got caught up on leasing back in the day when money was very tight, and basically lost every penny put in.

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Epistaxis Newbie

Epistaxis

Posted
Posted

Doesn't really matter.

If you like having a new car and don't like dealing with older, higher mileage issues, a lease is fine.

It is NOT an investment. A 10 year old car is worth diddly.

That said, I have only owned one new car, the one I currently drive, it is 9 years old.

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