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I-Am-Ron-Swanson t1_jed61qh wrote

Buy if you intend to keep it until it dies. Less hassle for one thing. And likely cheaper, and possibly much cheaper.

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SquishyEmerald OP t1_jed6dzd wrote

So that’s the thing—the lease payments are cheaper per month for three years than the loan payments per month for 60 months. I think my financial planner wants me to lease because he expects interest rates will be better at the end of the lease term.

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I-Am-Ron-Swanson t1_jed7i6v wrote

Possibly but none of us have a crystal ball. Yes payments will be higher because you will own the car in 5 years vs turning it in after three years or starting a loan, which will likely be much more than the lease and for another 5 years. It’s all just math. Play around with some loan vs lease calculators online.

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porcelainvacation t1_jednw1s wrote

We still have a 2004 Honda CRV, we bought it brand new, paid it off 17 years ago, maintained it, and it still is perfectly reliable with 280k miles on it. At this point we bought a newer car because we got a really sweet deal on a 2020 Volvo and the Honda is our supply chain insurance policy and my airport long term parking lot beater. It has liability only insurance and it costs me nothing but gasoline and the occasional oil change to keep because I’ll just donate it to someone if it breaks down. I have gotten well more than my money’s worth out of that car.

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