Lease new or buy used with cash?

ble2323

How would one calculate whether it makes more financial sense to lease a new car vs. buy USED WITH CASH?

BTW, I'm in NJ where tax is levied upfront on the total lease payment.

 Thanks. 

kyfdx

ble2323 said:

I'm probably not communicating this well. 

It's not that I can't afford more of a used car, it's that I don't think paying more than 23k is a good value. 

Re: my requirements, a 2017 Rogue meets almost all (not a 3 row) and they are available. 

Alternatively, I could lease a new Rogue for about 13k total over 3 years. Or for a little more than that, lease a 3 row Highlander LE. 

The essence of my question is what makes more financial sense? Those two lease options or the 2017 CPO Rogue?  I'm not sure how long I'd keep the CPO Rogue, but at least 3 years. Possibly much longer depending on how reliable it is and whether any new breakthrough safety technologies come out . 

Those are both good choices for leasing.

If that's your thing.. CPO used, or new lease, of the same model, then it's just a matter of the vehicle you are interested in having a good lease program. Both of those qualify. But, there is a whole list of vehicles that don't lease well (CR-Vs, for one example).

So, it's more on a case-by-case basis.

Michaell

ble2323 said:

How would one calculate whether it makes more financial sense to lease a new car vs. buy USED WITH CASH?



BTW, I'm in NJ where tax is levied upfront on the total lease payment.



 Thanks. 

How much are you looking to spend?

Leasing is renting - you have to give the car back at the end of the lease term.

If your intention is to keep the car longer than the lease term (usually 3 years), then just buy used.

I've leased my last two cars, but am seriously thinking of buying my next one, as I'd like to find something I'll be happy with for 10 years.

ble2323

I'm looking to spend about 23k max before taxes for used. But my requirements seem tough to find:

Crossover with AWD 
Autonomous emergency braking 
Ideally 3 rows, 2 ok
CPO, with at least a fair program 
Under average mileage 

Seems to me new and used prices have both gone up. And autonomous braking is often in higher trims in slightly used vehicles. This why a lease was on my radar. Also tech might change in a few years. 

kyfdx

ble2323 said:

I'm looking to spend about 23k max before taxes for used. But my requirements seem tough to find:

Crossover with AWD 
Autonomous emergency braking 
Ideally 3 rows, 2 ok
CPO, with at least a fair program 
Under average mileage 

Seems to me new and used prices have both gone up. And autonomous braking is often in higher trims in slightly used vehicles. This why a lease was on my radar. Also tech might change in a few years. 

Getting a more expensive car, because lease payments are lower than finance payments is not the best idea. In the long run, you are exceeding your budget.

Your wish list is going to be tough to achieve (3-row SUV with autonomous braking), on your budget, I think.

ble2323

I'm probably not communicating this well. 

It's not that I can't afford more of a used car, it's that I don't think paying more than 23k is a good value. 

Re: my requirements, a 2017 Rogue meets almost all (not a 3 row) and they are available. 

Alternatively, I could lease a new Rogue for about 13k total over 3 years. Or for a little more than that, lease a 3 row Highlander LE. 

The essence of my question is what makes more financial sense? Those two lease options or the 2017 CPO Rogue?  I'm not sure how long I'd keep the CPO Rogue, but at least 3 years. Possibly much longer depending on how reliable it is and whether any new breakthrough safety technologies come out .