Dear Crabby, Should I Buy or Lease a New Car?

Dear Crabby, Should I Buy or Lease a New Car?

Sincerely, Miss Daisy

Dear Miss Daisy,

As with anything, you must look at the pros and cons of either option. When you lease a car, the monthly payments are lower, the warranty protection is better, and you generally always have a new vehicle. However, you have limited mileage and you’ll pay more over time. If you buy a new car, you own it. You have more freedom and you can rack up as many miles as you want. The downside is that the monthly payments are higher and after the warranty is over, all the car repairs are yours!

So say you hate car repairs, don’t drive a lot, and love new cars smells … then leasing a car may be the right choice for you. Many lady-folk go for this option ’cause most don’t enjoying dealing with car problems.

However, if you’re the type who drives a lot, takes long road trips, and commutes back-n-forth to work everyday … then buying is your best choice. You can also tint the windows, get fancy wheels, add a trailer hitch, and more. But there’s a third choice.

Read why I don’t buy new cars.

If you really want the best of both worlds – lower payments and car ownership – then buy a used car. The payments are cheaper, or you could just pay in full and own it right away. You can drive as much as you like and do what you want to the car. Of course, you’ll be driving an older vehicle, it might have a door ding or rusty fenders, but it’s yours – all yours! And if a shopping cart rolls into your car – who cares?

You will have to deal with more car repairs, and they could pop up at any time. But the tabs are cheaper, the insurance is cheaper, and you’ll look cheaper. That way your friends won’t ask to borrow money and they never want to take your car when you all ride together. The benefits just keep coming!

I like having cars that are about half my age, remind me of a better time in life, and are worth more when you’ve got a full tank of gas. When AM radios were king and having an 8-track player was a step up. Back when the spare tire was an actual full-size tire and you had to hand-crank the windows up or down. That’s true car ownership!

Just like me, older cars are the better deal in life.

Sincerely, Dear Crabby

Stuck in a rut? Need some biased advice from a crabby old baby-boomer? Then email me your question at dearcrabby@rochestermedia.com. You can also head on over to my Facebook page and tell me how wonderful I am.