NWR: Car Help!

So with the wedding money we are going to get me a car...THANK GOODNESS! I'm going car shopping tomorrow. I am DEF getting an SUV (I've had an SUV and a regular car and I like being high up WAY better since I'm so small). We're looking at the Ford Escape, Mercury Mainer, Chevy Equinox, and the GMC Terrain. Can anyone help with incite to any of these cars. The car HAS to be American made (we're a union family through and through) and an SUV but not HUGE and good on gas.

ANYWAY, besides that we aren't sure if we should lease or buy.

Reasons to buy:
1. I own the car and don't have to give it back at the end.
2. We live in Queens and park on the street so if people tap my car I won't have to worry about it at return.
3. I also work on a construction site so same reason as #2.
4. You can negotiate (I don't know if you can at leasing).
5. Insurance will be less (I believe)
6. When we have kids we aren't sure if we'll be able to buy a car in 3 years with a mortgage (hopefully we have a house by then) and with kids (at least prego by then).
7. Companies are almost giving cars away because of the ecomony.

Reasons to lease:
1. Monthly payments are cheaper and we can save more money.
2. In 3 years when we decide to have kids, I can get a brand new car, keep it for 8 years and by the time the kids are older hopefully we can afford to buy one.
3. In the long run I see it being cheaper because by the time the car starts to break down you give it back.
4. Maintainance packages are at extremes.
5. A lot of the commericals now on TV are pushing leasing more then buying so deals are greater.
6. Down payment is cheaper so we can have extra money to start our savings for a house.

HELP!!!!!! Any help with this if you have bought a new car (NO USED) or leased would be AWESOME! All the information I can get would be GREAT before I start looking tomorrow!

I just traded in my Santa Fe for a Nissan Sentra back in June. I cut my payments in half. I was paying $430 a month and now I am paying $270. I owned the Santa fe. I am leasing now, and the reason I am (which is silly lol) is because I am always changing my mind. Plus, for right now, a smaller car is all I need. When I have kids, I plan to up grade to an SUV.

I would go with the Ford Escape. I love the look. I would lease for now, and you can always buy the car at the end of the lease...buy outs are usually cheaper, and save the money for the house. Once you get the house and you see the flow of the bills, it'll help you make a better decision on actually owning the car.

HTH.

i would lease a car because all leases have an option to buy the car out at the end of the lease at no additional cost.

So if the car is worth $20k and over the course of the lease, you paid $10k, you would only need to pay an additional $10k to own the car.

it's like trying it out before committing. Plus, you get lower payments in the meanwhile

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Posted by AwaitingAugust

i would lease a car because all leases have an option to buy the car out at the end of the lease at no additional cost.

So if the car is worth $20k and over the course of the lease, you paid $10k, you would only need to pay an additional $10k to own the car.

it's like trying it out before committing. Plus, you get lower payments in the meanwhile

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i have questions about this too, does the down payment count towards the car value that you have to pay off? TIA!

have you looked at the Cadillac srx??

im torn btwn the SRX and the lexus rx350

what if u get a certified pre-owned. better warranty ( financed )

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Posted by JenBill61210
i have questions about this too, does the down payment count towards the car value that you have to pay off? TIA!

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Yes, the down payment you make goes towards the lease payment so the more you pay, the lower your monthly payments are. With my lease (i think it's all leases but don't quote me on this), i'd be paying the same amount with or without a down payment so i chose not to put anything down and have slightly higher monthly's.

Barb, I looked at the CSX and DH asked if I was on drugs LOL! I know with leasing we can get a nicer car and pay less a month if we fianced.

As for pre-owned, we're looking to be the first owners. I dont' kow much about pre-owned either.

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Posted by grkbarbie

csx??

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HAHA! I meant SRX my bad!

oh im looking at pre owned. but new ones start at like 34. kinda cheap for a caddy? lol ive had my ford focus for almost 10 yrs.. so im out of the loop


pre owned u can get for 28k?

OO! Not bad Barb!

WOW! 10 years! I NEVER keep cars that long, I get bored HAHA! Another reason I might lease. I'm just so stuck on what to do with buying or leasing and now you through in pre-owned! TOO MANY CHOICES!!!!

i would lease.. but youre paying a few hundred a month, and u give the car up.


at least if u buy or finance... in the end u can sell your car and get $$ twds something new. kwim?

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Posted by grkbarbie

i would lease.. but youre paying a few hundred a month, and u give the car up.


at least if u buy or finance... in the end u can sell your car and get $$ twds something new. kwim?

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That's why I'm so confused. It's cheaper to lease and in a few years I give up the car and have nothing to show for it. DH keeps saying 'you're going to end up paying $12,000 to rent a car for a few years' and that really puts it into perspective.

I think after I go to a dealership and talk to them more I'm going to understand everything a whole lot clearer. I'm just excited to not have to drive my car anymore soon!