leased -- then realized how much money I was thowing away.
Went to credit union, got a 3% auto equity loan. Had the same payments -- just make them a year longer & own the thing!!!!

 

Bank owned at the moment, but all mine when paid off...

 

Bought and paid for...

 

Leased my:

'92 Vigor GS
'95 Legend LS Coupe 6-speed
'99 STS
'03 3.2TL Type S w/Nav

 

'99 TL-P (Bought)
'03 TL-S (Bought)

 

this topic should say lease, car-loan, cash...

 

Paid in cash... lots of greens at the Dealership!

 

Both had a good deal on the trade for my 00 SSM 1.6 EL-P (great car), and a good price for the 03 TL-S, remainder is financed with Honda Canada for 3.8% which is probably a first for the TL. Buying gives me the flexibilty to trade-in, replace the car even before my loan is up, as opposed to a lease where I have to wait until the lease is over, otherwise pay the remaining lease balance. But if I had a business, would definitley lease it.

As for an opinion on North American cars: A friend once had his eye on the Olds Aurora, apparently it was a good car. Brand new he was quoted almost $50k Cdn. An alternative dealer offered a demo of the same car for a tad over $35k Cdn since their sales are down. Apparently, N/A auto dealers are so desperate fro sales, they will do anything to get you to buy their cars (heard of 0% financing PLUS cashback, PLUS deferred payments??) All I can say is, "You get what you pay for"....

 

I think leasing only works if you are writing it off for a business, and you want to avoid paying sales tax and yearly tangible tax on your car (in some states). I bought mine, financed and paid it off quick.

My dad, on the other hand, leased a POS Jag x-type (and I cant even get into how bad that car is in every way) so he could "write it off" and cause "it looks so nice" -- it looks like a 1982 jag got boned in the rear by a 97 taurus and bore this ugly ford.... and for just $500 a month!!!!! Mine was only $400 to buy and keep, including tax. So I guess to each his own...

Mark

 

Leased my 2003 TLS w/nav. I use it for biz- tax writeoff. $2000 down, $400/mo. I like it better than my 1999 BMW 740IL!

 

We have always bought.

 

bought it in one payment

 

How about buying it used?