Overhaulin'

car: opt. 1 buy new or rent new, opt 2 buy used?

i was just curious about leasing vs. buying. i've read about it but the thing i can't take away from it is whether or not leasing a new car is better than buying a used car. i just looked at the bmw 328i leasing schedule: down payment: 4,924 monthly payment: 349 total cost for 3 years: $17,488 to buy same car: msrp: $39,100 @ 10% finance for 48 mos: $47,600 clearly the former is better than the latter, not to mention warranty costs, etc. but what if you buy a used 3 series bmw, say 2006 model at 40k miles, it'd be around (say) $22,000, with the 10% interest at 48 months is $26,783 for the total cost. but it's older and again, warranty won't be as prevalent. just trying to figure out what makes the most sense. i guess the hard thing to reconcile mentally is that even though you don't keep your leased car after 36 months (unless you want to buy it which i wouldn't do), technically a lease IS buying your car, but only for a specified period of time. help me understand my options and what is most sensible if you can. thanks.

Public Comments

1. In the long run it's always better to buy, new or used, over leasing.
2. the scoop is if you cant deduct it on the lease on your taxes/business/ dont lease/buy/at the end of the lease you end up with no ride and probably damage charges on car/nicks and scratches/over miles etc/purchased bmws are good with original owner for about 8 years and if in good condition they are very saleable at good prices