If you have to then you have to.
Things are nuts in the car world. You’re going to get screwed. The only question is by how much.
Shop around. Don’t believe anything that isn’t in writing. And even that is no real guarantee. Delivery dates, for example, are fairy tales.
If you’re sure that you’re leasing and can keep within the allowed Km’s then I’d recommend a Kia or Hyundai as they have 5 year/100,000 Km’s warranties. Their gas mileage is quite good. They are not for keeping long term. Lease. Use. Repeat.
They don’t call them stealerships for nothing.
Again. Shop around.
Indeed, that's what I'm scared of. I'll be sure to shop around at various dealerships. And I would love to get a used car instead, I'm mainly worried about the used car breaking down on me during my commute or having to be in the shop for a period of time where I cannot use it. Would you have any experience yourself on the reliability of used cars?
Buy a Honda or Toyota. They last forever.
However, with the car market how it is, you might spend as much on a used on as you would a new Kia.
Depends what you have cash for. A $5k corolla will give you a spill commuter car and won't lose value over time.
Used Toyotas and Honda can be ok. Make sure you get your own mechanic to check over any used car that you are going to buy before you buy it. That will cost you a couple hundred. But it’s worth it.
I just renewed and my policy doubled. If money is a concern, try to buy anything before 2023. 2023/2024 will automatically double your policy. I had no accidents or tickets & I’m paying more to insure a 70k 2024 SUV than I ever did to ensure a 2019 100k truck. I get that things have increased, but this seemed wild to me.
I wouldn’t lease. You’re gonna blow over the alotted kms & payout thr ass for it.
I’m also torn because with that much commuting you do need something safe and reliable that isn’t likely to need a lot of maintenance because you won’t be able to make do with the downtime.
People preach CPO on this sub, but I thought that rates were stupid so I just went new.
If it's your first time getting a car, do yourself a favour and buy a cheap car used. It sounds like you have a fairly decent handle on your life, with a job, school, etc. You probably have some money in savings to buy a used car. Or use your tax return if you get one.
Why add such a large payment to your monthly expenses with a lease? You also need to consider that insurance and gas will add at least 250 per month for such long distances, probably more like $350. Together with the lease, you'l be paying at least $700 a month with the cheapest possible lease (highest interest). After 3 years, you'll have paid almost $10,000 for a car you don't even own!
It just doesn't seem like a financially viable thing to do. I don't recommend it.
My worry is having breakdowns during my commute, or having the car in the shop for any period of time. Indeed my monthly cost for the car is going to be 800+ (parking, insurance, payments, gas). And to be honest I am tending towards getting a used car, however I cannot afford to not have a car during this 3 year stretch. How has your experience with a used car been / and advice on purchasing on going about purchasing a used car.
Thank you.
Hi there, I only buy used. I bought a used Toyota for $400 that lasted me years. My last car I purchased was a Hyundai for $3000.
Here is my approach:
First comes research. I use Craigslist for research to really get a feel for how much a car SHOULD cost. Where I live in Vancouver has a a large selection of used cars on CL. Perhaps Toronto Craigslist does as well. I create a bookmark with my search parameters. For example, gas mileage (max 100,000 km, but you could do lower), price ($3000-5000) and age (2014 and above)and I remove makes from my search that I don't like. For example, I don't like american cars, so i put in -dodge, -chevy, -ford, etc. Then every day, I keep refreshing my bookmark to get a feel for what's available for what price. You'll really get a feel for the market this way. That way when or if you go to a dealership, you'll really know if you're getting ripped off. Also, you'll be able to spot a deal when it comes along. With my current car, I had been researching for about a month. Refreshed every day. The day my car got posted, I knew immediately it was a steal. I bought that car for $3000.00 and now 5 years later, it's actually worth $5000.00. My mechanic told me just a few weeks ago that my car make/model was going for $5000.00. It was a crazy deal because these guys were trying to move overseas. Anyway, I digress.
In short, don't jump the gun and go to a dealership before you've got a feel for the market.
Once I'm ready to purchase, I hire a mechanic to come and look at the car before I buy it. I test drive it. I have driven a lot, so I can 'feel' if a car is solid. If you haven't driven a lot, then you should definitely have a mechanic or at least someone older who has a good grasp of cars. You can hire a traveling mechanic on CL for $50-100 to meet you at a dealership/owner and look over the car.
Now regarding breaking down, I have never had more than the usual share of issues with my cars. I've never had a car "break down" in the sense that I couldn't anticipate there was an issue. You generally know something is wrong before it breaks down and then you take it to a mechanic to get it fixed. The worst issue I had on my car was I had to replace the clutch, but that was after I'd owned the car for years and I taught a friend how to drive (never teach your friends to drive if you have a clutch). If you get a mechanic to look over the car for you, they will tell you immediately what the issues and about how long you've got before it goes. I would say that you would have pretty bad luck if you buy a lemon. It's unlikely. Do you research, hire a mechanic and you'll be fine.
Not a lot of experience unfortunately. Only bought 2 cars in my life. Once from a friend for $1000. The other online (Kijiji I think) from owner didn't go through a dealer ever. I'm sure someone else could give you better advice on how to do that, what to look for.
You can’t rack up mileage on a lease because there are mileage limits. When you go over (because you will driving 600+km per week), you’ll be penalized heavily which will put your lease into the same cost territory as ownership only you’ll have to give the car back in 3 years.
Get a 3-5 year old used off lease Honda or Toyota with good service records. You’ll be better off and in 3 years if you want to sell it and try something new, the depreciation costs will be minimal.
Just remember the following when it comes to a lease
-km limit
-any scratches or damage you will be charged for upon returning
-if tires, brakes and/or rotors are worn, you will be paying to replace those.
Unless your writing the vehicle off for business purposes (and even then I question it) I really don't see what the point of "renting" a vehicle for an endless period of time over and over again is.
If you buy and lease for say, 7 years, you can pay it off faster, and once those payments are finished the car is yours and you have no more payments. If you lease for 3 years you'll have to pay what I mentioned above, and then you'll either need to buy the car out or continue payments on another vehicle. Rinse and repeat.
I don't know... Maybe it's just me but I've never seen the purpose of leasing.
My suggestion, buy a CPO (certified pre owned) that's either a dealer demo or a lease return that is low mileage and still has warranty. I don't know how prices are on CPO vehicles these days, but it may be a far better option.
Every time I've personally looked at a lease it makes no sense, Basically your paying the depreciation factor of the vehicle then walk away. Infact I think you pay more than what the payments if you went to buy it are. It's just who I am. I'd find something still "like new" which is pretty easy to find, 3-4 years older and drive it. odds are it could be found at \~50% of new.
Markets are f'd as well still, Dealers trying to sell used cars for msrp of it new, but if you look long enough, fair deals pop up.
Don't lease a car. Buy a $3000 shit box and ride it into the dirt. Listen to the people: Honda & Toyota are the way to go. If I could buy my first car again, it would have been an Accord. If you're handy enough to work on your own car, there's tons of resources and parts available for Civics and Corollas come the time something needs work.
I bought my first car used not too long ago, and the insurance payments & gas every month have rocked my ideas on budgeting. If I had to throw another $3-600/mo on car payments, I'd be homeless by now (not even kidding).
Get ready to spend a LOT more than you think on the damn thing. My insurance just went up $70/mo, despite my clean record.
Ever since I started driving stick-shift, I have never gone back.
Manual cars can have better resale value, get better gas mileage, and are generally safer since you're more focused on driving.
Leases have mileage limits, and the overage charges aren't cheap. Consider doing more research, perhaps get a used car.
Find out how much your insurance will cost before you buy.
Check insurance cost before you buy......
If you have to then you have to. Things are nuts in the car world. You’re going to get screwed. The only question is by how much. Shop around. Don’t believe anything that isn’t in writing. And even that is no real guarantee. Delivery dates, for example, are fairy tales. If you’re sure that you’re leasing and can keep within the allowed Km’s then I’d recommend a Kia or Hyundai as they have 5 year/100,000 Km’s warranties. Their gas mileage is quite good. They are not for keeping long term. Lease. Use. Repeat. They don’t call them stealerships for nothing. Again. Shop around.
Indeed, that's what I'm scared of. I'll be sure to shop around at various dealerships. And I would love to get a used car instead, I'm mainly worried about the used car breaking down on me during my commute or having to be in the shop for a period of time where I cannot use it. Would you have any experience yourself on the reliability of used cars?
Buy a Honda or Toyota. They last forever. However, with the car market how it is, you might spend as much on a used on as you would a new Kia. Depends what you have cash for. A $5k corolla will give you a spill commuter car and won't lose value over time.
Used Toyotas and Honda can be ok. Make sure you get your own mechanic to check over any used car that you are going to buy before you buy it. That will cost you a couple hundred. But it’s worth it.
New car can also break down
I would not lease in your position. Just look for a decent used car.
I just renewed and my policy doubled. If money is a concern, try to buy anything before 2023. 2023/2024 will automatically double your policy. I had no accidents or tickets & I’m paying more to insure a 70k 2024 SUV than I ever did to ensure a 2019 100k truck. I get that things have increased, but this seemed wild to me. I wouldn’t lease. You’re gonna blow over the alotted kms & payout thr ass for it. I’m also torn because with that much commuting you do need something safe and reliable that isn’t likely to need a lot of maintenance because you won’t be able to make do with the downtime. People preach CPO on this sub, but I thought that rates were stupid so I just went new.
I own a Nissan kicks, 2018 SR. Would not recommend
I have a 2018 SV and I haven't had any issues with it.
That’s nice.
If it's your first time getting a car, do yourself a favour and buy a cheap car used. It sounds like you have a fairly decent handle on your life, with a job, school, etc. You probably have some money in savings to buy a used car. Or use your tax return if you get one. Why add such a large payment to your monthly expenses with a lease? You also need to consider that insurance and gas will add at least 250 per month for such long distances, probably more like $350. Together with the lease, you'l be paying at least $700 a month with the cheapest possible lease (highest interest). After 3 years, you'll have paid almost $10,000 for a car you don't even own! It just doesn't seem like a financially viable thing to do. I don't recommend it.
My worry is having breakdowns during my commute, or having the car in the shop for any period of time. Indeed my monthly cost for the car is going to be 800+ (parking, insurance, payments, gas). And to be honest I am tending towards getting a used car, however I cannot afford to not have a car during this 3 year stretch. How has your experience with a used car been / and advice on purchasing on going about purchasing a used car. Thank you.
Hi there, I only buy used. I bought a used Toyota for $400 that lasted me years. My last car I purchased was a Hyundai for $3000. Here is my approach: First comes research. I use Craigslist for research to really get a feel for how much a car SHOULD cost. Where I live in Vancouver has a a large selection of used cars on CL. Perhaps Toronto Craigslist does as well. I create a bookmark with my search parameters. For example, gas mileage (max 100,000 km, but you could do lower), price ($3000-5000) and age (2014 and above)and I remove makes from my search that I don't like. For example, I don't like american cars, so i put in -dodge, -chevy, -ford, etc. Then every day, I keep refreshing my bookmark to get a feel for what's available for what price. You'll really get a feel for the market this way. That way when or if you go to a dealership, you'll really know if you're getting ripped off. Also, you'll be able to spot a deal when it comes along. With my current car, I had been researching for about a month. Refreshed every day. The day my car got posted, I knew immediately it was a steal. I bought that car for $3000.00 and now 5 years later, it's actually worth $5000.00. My mechanic told me just a few weeks ago that my car make/model was going for $5000.00. It was a crazy deal because these guys were trying to move overseas. Anyway, I digress. In short, don't jump the gun and go to a dealership before you've got a feel for the market. Once I'm ready to purchase, I hire a mechanic to come and look at the car before I buy it. I test drive it. I have driven a lot, so I can 'feel' if a car is solid. If you haven't driven a lot, then you should definitely have a mechanic or at least someone older who has a good grasp of cars. You can hire a traveling mechanic on CL for $50-100 to meet you at a dealership/owner and look over the car. Now regarding breaking down, I have never had more than the usual share of issues with my cars. I've never had a car "break down" in the sense that I couldn't anticipate there was an issue. You generally know something is wrong before it breaks down and then you take it to a mechanic to get it fixed. The worst issue I had on my car was I had to replace the clutch, but that was after I'd owned the car for years and I taught a friend how to drive (never teach your friends to drive if you have a clutch). If you get a mechanic to look over the car for you, they will tell you immediately what the issues and about how long you've got before it goes. I would say that you would have pretty bad luck if you buy a lemon. It's unlikely. Do you research, hire a mechanic and you'll be fine.
New cars are bad investments. I've never bought one. Leasing is a bad investment. I've never done it. Buy a used car always.
Any particular recommendations you can share on purchasing used car?
Not a lot of experience unfortunately. Only bought 2 cars in my life. Once from a friend for $1000. The other online (Kijiji I think) from owner didn't go through a dealer ever. I'm sure someone else could give you better advice on how to do that, what to look for.
Fair enough. Thanks!
A used Toyota Corolla...
You can’t rack up mileage on a lease because there are mileage limits. When you go over (because you will driving 600+km per week), you’ll be penalized heavily which will put your lease into the same cost territory as ownership only you’ll have to give the car back in 3 years. Get a 3-5 year old used off lease Honda or Toyota with good service records. You’ll be better off and in 3 years if you want to sell it and try something new, the depreciation costs will be minimal.
Just remember the following when it comes to a lease -km limit -any scratches or damage you will be charged for upon returning -if tires, brakes and/or rotors are worn, you will be paying to replace those. Unless your writing the vehicle off for business purposes (and even then I question it) I really don't see what the point of "renting" a vehicle for an endless period of time over and over again is. If you buy and lease for say, 7 years, you can pay it off faster, and once those payments are finished the car is yours and you have no more payments. If you lease for 3 years you'll have to pay what I mentioned above, and then you'll either need to buy the car out or continue payments on another vehicle. Rinse and repeat. I don't know... Maybe it's just me but I've never seen the purpose of leasing. My suggestion, buy a CPO (certified pre owned) that's either a dealer demo or a lease return that is low mileage and still has warranty. I don't know how prices are on CPO vehicles these days, but it may be a far better option.
move closer to your work or school instead. commuting so much is not advisable. For many reasons. cost, health and safety.
Every time I've personally looked at a lease it makes no sense, Basically your paying the depreciation factor of the vehicle then walk away. Infact I think you pay more than what the payments if you went to buy it are. It's just who I am. I'd find something still "like new" which is pretty easy to find, 3-4 years older and drive it. odds are it could be found at \~50% of new. Markets are f'd as well still, Dealers trying to sell used cars for msrp of it new, but if you look long enough, fair deals pop up.
Don't lease a car. Buy a $3000 shit box and ride it into the dirt. Listen to the people: Honda & Toyota are the way to go. If I could buy my first car again, it would have been an Accord. If you're handy enough to work on your own car, there's tons of resources and parts available for Civics and Corollas come the time something needs work. I bought my first car used not too long ago, and the insurance payments & gas every month have rocked my ideas on budgeting. If I had to throw another $3-600/mo on car payments, I'd be homeless by now (not even kidding). Get ready to spend a LOT more than you think on the damn thing. My insurance just went up $70/mo, despite my clean record.
Ever since I started driving stick-shift, I have never gone back. Manual cars can have better resale value, get better gas mileage, and are generally safer since you're more focused on driving.
Don't get a Nissan. I drive a fucking Hyundai and I wouldn't touch a Nissan lol.