Originally Posted by blayze
I've owned many used cars over the years, and although it can be hit or miss, I personally don't think it's worth the hassle - unless you're a student or really tight on the budget.
I don't believe in owning either... I generally have a philosophy of not buying depreciating assets.
I am a HUGE fan of leasing for several reasons:
1) You get a brand new car every 2-4 years, which is big for me because I get bored easily
2) Cars tend to break down and have problems after that initial 3-4 year period, so you're basically getting the car's best years (while it's on full warranty), and then pawning off the subsequent problems and repairs on someone else
Of course, leasing is slightly more expensive than financing, but I think it's worth every penny.
Leasing definitely has its benefits but it all depends on your situation.
First off, if you put a lot of KMs on your vehicle each year (20K+) then leasing may not be a great option. You get penalized for extra KMs but that all depends on your lease agreement.
If you dont drive much, then leasing can definitely be a good way to go.
Blayze, not sure where you lease your vehicles from, but leasing is usually cheaper then buying because of the amount left at the end of the lease is still due.
Good website to explain the differences between leasing vs buying.
To answer your original question - anytime you buy a used car, you are taking a chance. At least if you buy new you know what you are getting. True, there are lemons coming directly off the lot too, but at least you can go back to the dealership and deal with them when you buy it new from them. The dealerships tend to be more helpful when you bought it from them, instead of buying it used and then going back to them looking for warranty work. Just my opinion but I would buy new if you can.
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