Overhaulin'

For My Next Car Should i Buy New, Lease, or Buy Used?

Here are the circumstances: I am moving from east coast to west coast 1 1/2 to 2 yrs from now and I need a second car now. My question is how much cheaper/beneficial is it for me to lease a car vs. buying one since i won't be taking it with me (unless i want to pay hefty shipping costs). Or is the best option to just buy used and sell in 2 yrs? thanks for all the helpful input everyone, I will probably end up going used. I'm going to look into leasing a little bit more before I decide, but used so far seems to be the best bet

Public Comments

1. Buy used, if you buy new you will automatically lose at least 15% value when you drive it off the lot; with leasing, (just like renting a house) you have no equity in it. Hope that helps! I learned from experience!!
2. Buy a used car. I bought a new truck in 2005 for 39,000. Traded it in two years later and only got 21,000 or so. I traded it in and got a 2005 ford mustang that only had 5,500 miles on it. But I got it a lot cheaper because it was used. Recently, I bought a 2010 Ford Fusion , brand new, only because I did the cash for clunkers with an old truck I had. If it wasn't for that I would have bought used again, and will from now on. Its just not worth it to buy a new one when you can usually find the same thing used, with low miles, for a lot less. I have heard that leasing is not a good way to go, but have never tried it. I would definitely buy a used one and sell it whenever you want. You shouldn't lose much money that way. Good luck on moving. I live in Oregon, its nice here.
3. Definitely not new, in two years you wouldn't even break even on that deal. Lease might fit your needs if you can get a two year lease, and turn it in at the end of the lease, but remember you are renting miles when you lease, and if you go over what you're allowed, there is a hefty penalty, so take that into account. Used, with a bit of care, might sell for the same or even more than you paid in two years, so that really seems your best bet. If you do go used, make sure your mechanic looks first so there will be no surprises on a "as is" buy.
4. Your cheapest route would be to buy a 2 year old used car, and resell it when you move... Leasing is never a good option, unless it's for a corporate account....
5. do used
6. Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool - carquotes.fateback.com