Leasing vs. Buying

I posted as reply in my other thread about the Challenger, but I thought I'd start a new thread so it doesn't get buried.

I have very little buying, and no leasing experience. I have owned my truck 10 years this month. I am 33, am co-owner of our own business, and the truck will be kept and wrapped for the business.

I plan on buying a Scat Pack Challenger/Charger when the finances permit, maybe first of the year, or a little after that. Several people suggested I lease. The payments are much less, but I am not sure what options there are. I know some places offer lease-to-buy. I am not the type to get rid of cars quickly, so it would likely be a long term purchase.

The only plans I have for the car are lowering springs and new wheels that can accomodate larger tires. Both can be brought back to stock form quickly. Is this a problem when leasing?

Is it foolish to lease a performance car? Any input would be appreciated

 

Just remember, when you lease, you need to return the car as you received it and you have apparently already addressed this issue. You also need to return a vehicle with a certain amount of tire tread rubber, and storing the OEM wheels and tires lets you avoid buying a set of replacement tires should you turn in the vehicle. In leasing, the residual value is the bet you make with the lessor and determines whether you "purchase" the car at the end of the lease period or turn in the car if actual market values are less than residual value.

 

Since you state it would be a long term purchase, your best option is to negotiate a good deal and buy the vehicle.

If you search online you can find several calculators for buy vs. lease. Plug in your specifics. I think you'll find buying always comes out ahead for long term ownership.