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New, Used or Leased?

ScarletKnight41 Sep 19 2006 02:47 PM

We were set up perfectly with cars - my 2003 Subaru, with plans to replace it as a graduation gift in 2008; D-Dad's minivan/tailgate and Little League vehicle, and the 1993 Subaru. As you know from the other thread, the 1993 Subaru is now and ex-car. For the short term we can deal with two cars, but sooner rather than later we need a third. We had been leaning towards buying my new car now, rather than in May 2008. But I'm not sure I want my new car under those circumstances - I wanted my new car to be part of a celebration, not coming from something negative. I want it as a present with a big bow on top and a diploma in my hand. So if I don't buy a new car now, that leaves us with two options - buying a used car that Impulse2 can drive, or leasing a new car for me and then going ahead and buying my new car in 2008. We have never bought a used car (except for the 1993 Subaru, but we bought that from my father, and we know that he's anal-retentive about car maintenance), and I have never leased a car. How much of a chance am I taking with a used car? Are they generally reliable, or are you lucky to be able to drive one home from the lot? What about leases - how do they generally work out? I keep waffling back and forth and back again.

Yancy Street Gang Sep 19 2006 03:03 PM

I'd buy new. You can probably get a deal on a leftover 2006 model this time of year.

ScarletKnight41 Sep 19 2006 03:08 PM

The '06 models are pretty scarce right now. And the end of model year discounts aren't that huge, relative to the other options. We haven't ruled it out, but at the moment I'm leaning towards the other options.

sharpie Sep 19 2006 03:13 PM

Buying used from a dealer that also sells the same models new has worked for me.

MFS62 Sep 19 2006 03:38 PM

Depends on how much you are going to drive the car. Those overage mileage charges can get very costly if you are going to drive a leased car a lot before you turn it in. Later

ScarletKnight41 Sep 19 2006 03:52 PM

How much is too much? Just to give you an idea, I'm at about 25,000 miles on my current car, and that's in about 37 months.

ScarletKnight41 Sep 19 2006 03:53 PM

sharpie wrote: Buying used from a dealer that also sells the same models new has worked for me. That's a possibility. D-Dad has a bead on a used Subaru from the same dealer where we bought my current car, and that's also where we go for our servicing.

Rockin' Doc Sep 19 2006 09:01 PM

In a lease, you generally get an allowance of 12,000 miles per yer. So on a 3 year lease, you would generally be allowed 36,000 miles before any overage charges would come into effect. You generally, have the option of paying a little more on the monthly lease if you think you will need more mileage. Used cars can be fine if you know who you're dealing with and they are willing to let you have the car checked out by someone knowledgeable. If they aren't willing to do that, then the car probably isn't worth buying. When we bought a used vehicle for Rockin' Jr,. we bought a previously leased vehicle that had been turned in at the end of the lease. We purchased it from the same dealership that we had bought our other cars from new. They let me take it to a friend that owns a automotive repair shop so one of his mechanics could give it a thorough inspection. With a declaration that the car was very sound, we went ahead and bought it. We've not had a single problem from the vehicle in the 24 months that we have owned it. Best of luck with the car search.

ScarletKnight41 Sep 19 2006 09:05 PM

Thanks RD.

ScarletKnight41 Sep 22 2006 03:38 PM

After all was said and done, we decided to go with a 2007 Legacy for me. I should be driving this around by the middle of next week - Impulse2 will drive my 2003 Legacy, but it may be a little while before I'm going to let her do the school drive during rush hour traffic....

soupcan Sep 22 2006 04:11 PM

Nice looking ride hot mama.

ScarletKnight41 Sep 22 2006 04:42 PM

Thanks soup :) I've always been happy with how the Legacy handles. An added bonus is that the controls are basically the same as with my current car, so I won't have to spend a lot of time figuring out where things are :) I guess I have to make sure that I graduate, though, since I'm getting my gift a year and a half early....

sharpie Sep 22 2006 04:50 PM

Cool Euro-style license plate.

ScarletKnight41 Sep 22 2006 04:53 PM

I'd prefer that over my nondescript NJ one <g>