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Thread: Buying vs. Leasing

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    #1

    Confused Buying vs. Leasing

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    I have a 1996 Toyota Camry and just found out this morning that the catalytic convertor died. They said it would be about $600. Not to mention it needs new tires, plus the air conditioning is broken and must be fixed before I move down South in September. It has almost 200,000 miles on it and I'm wondering if it's worth it to fix it, if I should look into buying a used car (which I literally don't think I can afford considering I haven't worked in a year because of school), or leasing something with the option to buy.

    My parents will be helping me (I would be literally without a car if it weren't for them! They are amazing!), but I was wondering if anyone has any input? I don't know what to do. I have no experience with this. I'm wondering if leasing with the option to buy is a good idea? Can anyone give me some insight??

    I'm so lost...
    No more countdown! He's home!!

    "We don't cry because we are weak, but because we have been strong for too long"
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    DO NOT LEASE! the mileage restrictions are aweful, and the costs for going over are very high.

    if your planning to drive to the new duty station, this alone can put a huge dent in your mileage allowance -
    also there are restrictions about taking it out of state, and where to return it ( a friend got permission to take her car from VA to Tx, but when it got close to the tme to take it back they had to return it in VA and had to pay to get to VA then fly back to TX where they were going to buy a new car) it costs them 3 grand out of pocket.

    the ramsey rule is if the repairs do not exceed the value of the car to repair the one you have.
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    Thank you!! That's good to know! We would be moving during the leasing time, so you're right, that would put a huge dent in the mileage!
    Thanks for the advice!


    Quote Originally Posted by gunsgirl View Post
    DO NOT LEASE! the mileage restrictions are aweful, and the costs for going over are very high.

    if your planning to drive to the new duty station, this alone can put a huge dent in your mileage allowance -
    also there are restrictions about taking it out of state, and where to return it ( a friend got permission to take her car from VA to Tx, but when it got close to the tme to take it back they had to return it in VA and had to pay to get to VA then fly back to TX where they were going to buy a new car) it costs them 3 grand out of pocket.

    the ramsey rule is if the repairs do not exceed the value of the car to repair the one you have.
    No more countdown! He's home!!

    "We don't cry because we are weak, but because we have been strong for too long"
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    #4
    We just got our ac fixed and it ran us 250. That was to replace the blower motor.
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    Yea, I haven't gotten the air conditioning priced yet. I've been trying to look at my options, but thank you for letting me know! That's good to know!


    Quote Originally Posted by Chikatoka View Post
    We just got our ac fixed and it ran us 250. That was to replace the blower motor.
    No more countdown! He's home!!

    "We don't cry because we are weak, but because we have been strong for too long"
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    Quote Originally Posted by gunsgirl View Post
    DO NOT LEASE! the mileage restrictions are aweful, and the costs for going over are very high.

    if your planning to drive to the new duty station, this alone can put a huge dent in your mileage allowance -
    also there are restrictions about taking it out of state, and where to return it ( a friend got permission to take her car from VA to Tx, but when it got close to the tme to take it back they had to return it in VA and had to pay to get to VA then fly back to TX where they were going to buy a new car) it costs them 3 grand out of pocket.

    the ramsey rule is if the repairs do not exceed the value of the car to repair the one you have.
    I have a feeling, 600, plus new tires and to fix the air conditioning would end up costing more than a 1996 200,000 mile toyota is worth

    Though OP, if you have the money to fix the car and not get a new one you need to stick with what you have. I bought a new car, and it sucks having a 250 dollar payment (used car) each month. If you can't afford a new car, don't get one.

    ETA: and if it's just you, A/C isn't an essential. Yeah, it's hot down here but you can roll your windows down.


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    #7
    Quote Originally Posted by briannanoel View Post
    I have a feeling, 600, plus new tires and to fix the air conditioning would end up costing more than a 1996 200,000 mile toyota is worth

    Though OP, if you have the money to fix the car and not get a new one you need to stick with what you have. I bought a new car, and it sucks having a 250 dollar payment (used car) each month. If you can't afford a new car, don't get one.

    ETA: and if it's just you, A/C isn't an essential. Yeah, it's hot down here but you can roll your windows down.
    Oh gosh I died in missouri with out air. I am too much of a pansy lol
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    Quote Originally Posted by briannanoel View Post
    I have a feeling, 600, plus new tires and to fix the air conditioning would end up costing more than a 1996 200,000 mile toyota is worth

    Though OP, if you have the money to fix the car and not get a new one you need to stick with what you have. I bought a new car, and it sucks having a 250 dollar payment (used car) each month. If you can't afford a new car, don't get one.
    Hahaha, that's what I'm worried about! $600 + $250 for air conditioning (which I think is a low estimate because I remember it being the coils or something and not the motor), and $400 or more for new tires. Yea....
    No more countdown! He's home!!

    "We don't cry because we are weak, but because we have been strong for too long"
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    #9
    Quote Originally Posted by Chikatoka View Post
    Oh gosh I died in missouri with out air. I am too much of a pansy lol


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    #10
    Quote Originally Posted by briannanoel View Post

    ETA: and if it's just you, A/C isn't an essential. Yeah, it's hot down here but you can roll your windows down.
    And you're right, A/C isn't essential. I'm just worried that Louisiana heat might kill me!
    No more countdown! He's home!!

    "We don't cry because we are weak, but because we have been strong for too long"
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