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Unread 05-01-2012, 11:52 AM   #1
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Default Car buying: Transfer lease or buy used car or rent car

Hi All,

My relatives (3 of them) are visiting my place for 4 months and wish to travel with me to see different places. I donot prefer to buy a new car at this time. I have a very old sedan 2001 and not in good condition.

I was looking to have a car that does not cost me a fortune. What are the good option ?

a) Transfer Lease
b) Buy used car
c) Rent the car

Please advise

Thanks

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Unread 05-01-2012, 12:47 PM   #2
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Rent will kill you in price.

Lease will kill you in insurance cost.

Used it'll have to be.
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Unread 05-01-2012, 12:56 PM   #3
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2001 isnt that old, I have 2 1989s...

Whats wrong with your car?
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Unread 05-01-2012, 03:44 PM   #4
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And I have an '85 that's as reliable as the sun.


Renting is only good short-term. No longer than two weeks. Leasing is just ripping yourself off, you pay out the nose for a car you can't drive over x amount of miles and have to keep absolutely pristine to avoid even more fees, and when the lease is up you have bugger all to show for it as you have to give the car back.


Always buy a car if you plan on keeping it longer than a few weeks. I wouldn't even consider a lease.
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Unread 05-01-2012, 03:54 PM   #5
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Quote:
Originally Posted by Kenny McCormick View Post
And I have an '85 that's as reliable as the sun.


Renting is only good short-term. No longer than two weeks. Leasing is just ripping yourself off, you pay out the nose for a car you can't drive over x amount of miles and have to keep absolutely pristine to avoid even more fees, and when the lease is up you have bugger all to show for it as you have to give the car back.


Always buy a car if you plan on keeping it longer than a few weeks. I wouldn't even consider a lease.
Lease to own.

That was the deal with a 330i I drove for a while. All payments made on the lease went to buying the car at the end of the 4 year lease. Ended up not buying it but it was an option.
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Unread 05-02-2012, 08:40 AM   #6
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Thanks for the replies.

My 2001 Toyota corolla Sedan is not good condition. Recently, it had a transmission failure and motor mount problems and it took me close to $1600 to get it replaced. It is still not in good condition.

Do you think Subleasing / Transferring an exisiting car lease will help.

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Unread 05-02-2012, 10:02 AM   #7
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The lease is gonna cost you just as much as financing a decent used vehicle. You might as well own something when its all said and done.
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Unread 05-02-2012, 11:13 AM   #8
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Insurance rates are nearly double to triple of what you would pay if you were financing a vehicle.

My car payment is $125/mo and my insurance is $150/mo. Does it suck? Yes, but it's nowhere near what it would be if I were to lease the vehicle.

I know that I'm dropping full coverage, once the car's paid off.
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Unread 05-02-2012, 03:14 PM   #9
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Quote:
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I know that I'm dropping full coverage, once the car's paid off.
On an 05? I wouldn't. Murphy will come by and hit it with a truck
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Unread 05-03-2012, 02:46 AM   #10
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Quote:
Originally Posted by rajspeeder View Post
Do you think Subleasing / Transferring an exisiting car lease will help.
No. It's just ripping yourself off. Buy the used car instead. You don't have a bunch of silly restrictions on what you can and can't do with it and you don't have to give it back to the dealer when you're done paying full price for it.

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On an 05? I wouldn't. Murphy will come by and hit it with a truck
...It's an Aveo. Those things aren't worth the metal they're made of. The insurance companies will just write it off anyway, full coverage or not, if it gets thwacked.
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My rigs:

1985 Ford F150 | 4x2 | 300ci OHV inline six | 4-speed OD manual | 310K | No power brakes | Running 100% - It hasn't driven this good in 15 years!

1984 Ford F150 | 4x2 | 300ci six | granny four | 3.55 rear end | 210K | Brakes shot. Rear drums are doing most of the work. Not fit to drive due to that.
1997 Ford Explorer XLT | 4.0L Vulcan V6 | 5-speed automatic | shift-on-the-fly 4WD | 210,000 miles | Running 95% - Needs brakes on all four corners + bald tires
1989 Ford F150 | 300cid six...again | 5-speed | 4x4 | 160K | Needs brakes done as well. Oi!

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