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QUOTE (SoxFan1 @ Oct 1, 2013 -> 12:42 PM)
Anyone?

I personally avoid leases like the plague. With car loan interest rates as low as they are, leasing doesn't make much sense. You are restricted on mileage, they have tight requirements on getting regular maintenance done in small windows (and will hit you with charges if you don't meet those to the letter), and you get dinged left and right on turning the car back in for all manner of things. All that for not having an asset at the end of the lease period.

 

Yes, cars depreciate. But do some comparison math. You'll find that if you lease versus own for some period of years, with current loan versus lease rates, then look at the asset value versus no asset... they break even more or less. And THEN you start in on the charges and limitations in a lease.

 

Just my view. Buy, new or used. Find a brand and model that holds value well (not sure if the Cherokees are in that group, I know a few years back they were not, maybe they are now).

 

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QUOTE (NorthSideSox72 @ Oct 1, 2013 -> 03:34 PM)
I personally avoid leases like the plague. With car loan interest rates as low as they are, leasing doesn't make much sense. You are restricted on mileage, they have tight requirements on getting regular maintenance done in small windows (and will hit you with charges if you don't meet those to the letter), and you get dinged left and right on turning the car back in for all manner of things. All that for not having an asset at the end of the lease period.

 

Yes, cars depreciate. But do some comparison math. You'll find that if you lease versus own for some period of years, with current loan versus lease rates, then look at the asset value versus no asset... they break even more or less. And THEN you start in on the charges and limitations in a lease.

 

Just my view. Buy, new or used. Find a brand and model that holds value well (not sure if the Cherokees are in that group, I know a few years back they were not, maybe they are now).

Eh, if you dont keep cars very long leasing is great. I've never got dinged on penalties when returning a leased car, ever. My last two leases actually were worth more than the buyout at the end as well.

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QUOTE (KyYlE23 @ Oct 1, 2013 -> 01:03 PM)
I believe the Jeep brand is RockRaines forte. PM him and see what he thinks

JGC right now are fantastic cars. You will get a more solid car than you've seen them build in years and they come in a variety of flavors. I highly recommend picking one up.

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QUOTE (RockRaines @ Oct 1, 2013 -> 03:43 PM)
JGC right now are fantastic cars. You will get a more solid car than you've seen them build in years and they come in a variety of flavors. I highly recommend picking one up.

Looking for 2009 or newer and two musts are 4x4 and a trailer hitch. I've heard nothing but good things about their safety ratings and reliability, plus it seems their depreciation value is pretty damn good, as even cars five years or younger with 100,000+ miles are still going for well over 10 grand.

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QUOTE (RockRaines @ Oct 1, 2013 -> 03:41 PM)
Eh, if you dont keep cars very long leasing is great. I've never got dinged on penalties when returning a leased car, ever. My last two leases actually were worth more than the buyout at the end as well.

How long did you have the cars? I generally look at having a car for 5 years or so, on average.

 

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A guy at my work bought a Solstice in 2006 when he graduated college. It's his daily driver, but it still has less than 20,000 miles on it (he's like 1.5 miles from the office). At that rate, this car will last him until retirement.

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QUOTE (NorthSideSox72 @ Oct 2, 2013 -> 06:16 AM)
How long did you have the cars? I generally look at having a car for 5 years or so, on average.

Right, but most people don't. It seems like most people are at 3 years or so...and Rock is right, I don't think they ding you too badly on returning the car unless you exceed the mileage. Especially if you're considering re-leasing from them.

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QUOTE (iamshack @ Oct 2, 2013 -> 08:23 AM)
Right, but most people don't. It seems like most people are at 3 years or so...and Rock is right, I don't think they ding you too badly on returning the car unless you exceed the mileage. Especially if you're considering re-leasing from them.

 

 

QUOTE (StrangeSox @ Oct 2, 2013 -> 08:24 AM)
If you're in a constant new-car cycle, leasing makes sense. I hate car payments, though.

 

That is probably a major factor here. If someone is doing a new car every year or two, and as long as they aren't using their car in situations where small damage or high mileage will occur, leasing might make more sense.

 

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QUOTE (iamshack @ Oct 2, 2013 -> 08:23 AM)
Right, but most people don't. It seems like most people are at 3 years or so...and Rock is right, I don't think they ding you too badly on returning the car unless you exceed the mileage. Especially if you're considering re-leasing from them.

 

Actually the current average is closer to six years as widely reported.

 

http://www.kbb.com/car-news/all-the-latest...igh/2000007854/

 

 

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QUOTE (Tex @ Oct 2, 2013 -> 07:13 AM)
Actually the current average is closer to six years as widely reported.

 

http://www.kbb.com/car-news/all-the-latest...igh/2000007854/

Yeah, I was waiting for someone to point this out.

 

I probably didn't state what I meant very well.

 

Better stated, there is a reasonably large component of auto customers that looks to purchase a new vehicle every 2-3 years. For that component, leasing is a reasonable solution because they aren't going to hold onto a car they purchased long-enough to realize the benefits of purchasing v. leasing.

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QUOTE (StrangeSox @ Oct 2, 2013 -> 08:24 AM)
If you're in a constant new-car cycle, leasing makes sense. I hate car payments, though.

 

Me too. To this day I have never traded in a car. They have all become either not worth fixing, or totaled in an accident.

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QUOTE (iamshack @ Oct 2, 2013 -> 09:25 AM)
Yeah, I was waiting for someone to point this out.

 

I probably didn't state what I meant very well.

 

Better stated, there is a reasonably large component of auto customers that looks to purchase a new vehicle every 2-3 years. For that component, leasing is a reasonable solution because they aren't going to hold onto a car they purchased long-enough to realize the benefits of purchasing v. leasing.

 

I am not even certain of that. You are paying for the most heavily depreciated portion of the car cost.

 

Unless you a suggesting that swapping cars every three years is the most expensive form of ownership, and within the subtext of most expensive, leasing is a viable option, then I agree.

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QUOTE (Tex @ Oct 2, 2013 -> 07:42 AM)
I am not even certain of that. You are paying for the most heavily depreciated portion of the car cost.

 

Unless you a suggesting that swapping cars every three years is the most expensive form of ownership, and within the subtext of most expensive, leasing is a viable option, then I agree.

That is exactly what I am suggesting. I am not suggesting this is a wise practice; just that there is a reasonably large segment of the auto buying population that does this. If you are part of that segment, leasing is a reasonable option.

Edited by iamshack

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QUOTE (NorthSideSox72 @ Oct 2, 2013 -> 08:16 AM)
How long did you have the cars? I generally look at having a car for 5 years or so, on average.

2-3 years for my leases.

 

 

My last jeep I purchase and I kept it 2 years and traded it in for a 2013 model. I had over 5k in equity in it so it kept its value nicely.

 

I dont keep cars that long at all, I like it being under warranty and frankly I really like new toys.

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QUOTE (SoxFan1 @ Oct 1, 2013 -> 05:13 PM)
Looking for 2009 or newer and two musts are 4x4 and a trailer hitch. I've heard nothing but good things about their safety ratings and reliability, plus it seems their depreciation value is pretty damn good, as even cars five years or younger with 100,000+ miles are still going for well over 10 grand.

It tows like a mF'er too.

 

I love my ride. My 2013 was a first model and its a little quickly with the electronics, but its an awesome vehicle I fully recommend getting the Hemi as the engine loosens up and gets better with age. its also rock solid.

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QUOTE (southsider2k5 @ Oct 2, 2013 -> 09:37 AM)
Me too. To this day I have never traded in a car. They have all become either not worth fixing, or totaled in an accident.

 

I just traded in a vehicle for the first time in my life a few months ago. It was a 1993 Suburban with 145,000 miles on it. It had a handful of mechanical and cosmetic problems but they offered me $900 for it without even seeing it. That's about what it was worth considering the shape it was in and I didn't have the headache of trying to sell it myself.

 

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QUOTE (RockRaines @ Oct 2, 2013 -> 11:41 AM)
It tows like a mF'er too.

 

I love my ride. My 2013 was a first model and its a little quickly with the electronics, but its an awesome vehicle I fully recommend getting the Hemi as the engine loosens up and gets better with age. its also rock solid.

Good to know. Much appreciated.

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Need some input as I don't really keep up with the car market.

 

Looking for something in the $13k-$17k range. Looking used, but probably 2011 or newer.

 

I'll be moving on from a Pontiac Grand Prix and would like something similar in terms of size/form factor. I could go smaller, but not compact. I would love to go hybrid if feasible. I've looked at some Toyota Corollas, Kia Optima, Chevy Malibu if that works as a starting point. The truth is I just don't know the offerings very well in this (or any) category. Probably won't go VW/Mini/Fiat/brands that aren't easy to get serviced at any old place.

 

Not asking anyone to do the research for me, but I am curious if any models or model years come to mind given my general parameters.

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My wife really likes her 2011 Ford fusion she got last year. I've had an optima as a rental a couple of times, and at least the brand new ones were pretty nice.

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Anyone recommend a late model small truck? I've been looking at frontier, Tacoma, Colorado but don't really know anything about this segment.

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The Chevy Malibu is actually a pretty good car, although until the last few years, pretty bland in styling. We just bought a new one last weekend for $19k.

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QUOTE (StrangeSox @ Apr 24, 2014 -> 09:36 PM)
Drove a new Malibu as a rental today.granted it was only for about an hour total but it was nice.

 

I drive a 10 year old Impala now, and am thinking about going down the Malibu when it is time. I drive a lot more than I used to and the extra gas mileage would be nice, without going to too small of a car.

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