QuestionI can buy my 2006 RX 330 for $20K (has 65K miles) or lease a new one for $550/mo and $4K down (48 mos 50k miles). What is cheapest thing to do for next 35k miles?
AnswerHi Doug
When you say $550/mo is that taxes included ?,,, The overall picture says you will have been driving a new car at a cost of over $30K with end results no investment at which point you will return vehicle and start all over, or invest further bucks and purchase present vehicle at buy out price.
It's not fair for me to say which way to go as we all have different life styles, personally speaking I am not a fan of getting tangled up in a lease maybe it's because I have seen to many consumers stuck in a lease because their lifestyle took a different direction prior to termination of agreement, here is an insert from website.
LEASE - Don't Let Emotions Override Your Signature
You must FULLY understand the contract when leasing a vehicle. Whatever terms you agree to and sign, be 100% sure you will want to keep it for that term and fully understand the fine print. If you went to jail for 3 or 4 years, you would most likely be released early based on good behavior. Not so with a lease! There is no parole without severely hurting your pocketbook
The 06 model has got a tad high miles but is justified with a lower price than average, I would like for you to provide a link where I can view this car to look for red flags ?
Summary,,, The miles don't scare me on the 06 and would most likely be my choice if vehicle check out as being in 100% condition, another area we can get into should you want to pursue this direction to make sure not ending up with a lemon in your driveway.
Ray http://www.usedcartips.org/
OP's Doug,,, I just re - read your Q again and come to realize I made a major mistake reading your Q as you could buy an 06 instead of buying my 06,,, sorry,,, the answer then is, if your happy with the vehicle at present then it's a very valid investment.
