i know who im not riding with.. ever.

 

OldYeller - It is nothing like leasing a house. A house in asset that appreciates, a car is a depreciating asset. Meaning it makes a lot of sense to lease a car, but not a house. With that being said, leasing is good for some people and bad for others. If you plan on keeping a car for over 5 years leasing is not for you. I always hear I drive too many miles to lease a car. These are the people that should be leasing! You are able to set up a lease for 25K miles a year. If lets say you do a 4 year lease and you have 100K at the end of it you can turn that car in with no problems and walk away. If you purchase a car on a 5 year note and get it appraised with over 100K after 4 years YOU WILL BE UPSIDE DOWN. The lease payment with 25K a year will be about as much as a five year note in most cases. If you are in an accident in your lease as long as it was repaired, you will not owe anything exra. This is an advantage to leasing over buying because if you wreak a car and then try and trade it in it will automatically take a 20% hit if it has been repaired. Leasing is not what it used to be, it has now evolved to be more consumer friendly. It speaks volumes to me that almost everyone in the car buisness leases their personal cars and that almost all luxery cars are leased.

Now that I have said all these pro's to leasing I will say that when it comes to Scion I would purchase it. The trade in values for Scions are so high (at least here in Houston) that it makes very little sense. Whenever a car depreciates as little as the Scions do you will have no problem getting out of it 2 years into a loan. Again I am not saying that 100% of people should lease a car, but when buying a car you should really compare the two and find out what is best for you.

 

dont lease a scion. . period.

 

Save more money...buy it...The buy-out option at the end of leases is too high, so you end up with paying for a few years and have nothing at the end. Most people end up in the lease to lease to lease cycle and never own plus always have payments. At your age buying would be better.

 

save up and just buy it and pay it off as soon as possible. It would help your credit alot more and help you later on when you buy a house. renting or having a lease is thowing your money away. dont get caught in that cycle.

 

Where did you hear that? As I said before I agree he should purchase an xb, but what you say about helping your credit more in a purchase is completly wrong.