Purchasing or leasing

[mnrobitaille]

I'm curious who all is leasing vs. those who are purchasing/have purchased.

 

Also wondering what the rate is for going over the mileage in lease.

[Wingrider01]

Been leasing since 1980, I don;t get attached to cars and I dump them every 3 years anyway.. It better for me economically since taxes, license, and the such are included. If you can stay within the mileage limitation it is something to look into. Excess mileage charges are determined by the agreement, have had from 10 cents to 40 cents a mile. Monthly payments are definitely less then financed payments

Edited July 29, 2013 by Wingrider01

[MichaelM]

With Ford it used to be that you could buy mileage up front at a discount if you thought you were going to exceed the standard mileage. Discount was like 8 cents/mile and regular was 12.

I know I bought 30,000 extra miles and decided after that, that leasing was not for me.

Allowed mileage was 15,000/ year. That's like 5 months normal driving.

I just barely made it without still having to pay more at the end of the lease.

Edited July 29, 2013 by MichaelM

[jonatuna]

I'm going the lease route, mainly becauseit is at 0%. I normally buy, but at 0% it is essentially a no interest loan. Will likely buy it out at the end...

[mnrobitaille]

We're purchasing ours, which is kind of a money saver as we currently have over 30,600 miles on our C-Max in 10 months. 

 

I'd hate to see what the extra mileage charge would be like if we were leasing.