Cars, Buy or Lease
Jul 3rd 2011, 6:19 pm
#16
BE Forum Addict
Joined: Jun 2010
Posts: 2,847
Re: Cars, Buy or Lease
Boiler asserts that leasing is for the mathematically challenged. That's both funny and crap 
We leased. I have a degree in electrical and electronic engineering, which means that I can do hard sums, yes, even long division, percentages and calculus 
As I said before, we had several criteria when looking to get a car, and total cost of ownership was trumped by several other factors, including cash flow, ignorance of buying used cars, and risk aversion.
We're happy with the choice we made at the time, though our next car will be a second hand car that we buy.
Bob asserts that leasing doesn't build your credit history. I'm not sure what that means exactly (does it add to the FICO score or not?), BUT our lease is reported as a line of credit with full payment history etc on my credit report. This may be unusual, but it is there, on my credit history. It may not build credit score but it is part of our history and demonstrates, along with other lines of credit, that we can run/keep a sizeable credit in good order.
Just be very clear as to the criteria and constraints you have when getting a car - and if you can, buy a young second hand car...
Cheers
HTS
We leased. I have a degree in electrical and electronic engineering, which means that I can do hard sums, yes, even long division, percentages and calculus As I said before, we had several criteria when looking to get a car, and total cost of ownership was trumped by several other factors, including cash flow, ignorance of buying used cars, and risk aversion.
We're happy with the choice we made at the time, though our next car will be a second hand car that we buy.
Bob asserts that leasing doesn't build your credit history. I'm not sure what that means exactly (does it add to the FICO score or not?), BUT our lease is reported as a line of credit with full payment history etc on my credit report. This may be unusual, but it is there, on my credit history. It may not build credit score but it is part of our history and demonstrates, along with other lines of credit, that we can run/keep a sizeable credit in good order.
Just be very clear as to the criteria and constraints you have when getting a car - and if you can, buy a young second hand car...
Cheers
HTS
Jul 3rd 2011, 6:40 pm
#17
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: Cars, Buy or Lease
Bob asserts that leasing doesn't build your credit history. I'm not sure what that means exactly (does it add to the FICO score or not?), BUT our lease is reported as a line of credit with full payment history etc on my credit report. This may be unusual, but it is there, on my credit history. It may not build credit score but it is part of our history and demonstrates, along with other lines of credit, that we can run/keep a sizeable credit in good order.
If it is for you though, that's great!
Jul 5th 2011, 1:28 am
#18
BE Forum Addict
Joined: Jun 2010
Posts: 2,847
Re: Cars, Buy or Lease
My credit score/history is too new for me to be able to tell if the lease being reported on my credit history will affect my score...
If this is unusual, and others are interested, we leased a 2011 model VW Tiguan from VW, arranged through the AIG /International Auto programme - there are plenty of threads on this elsewhere on the forums. We put $1K down and are leasing for 2 years.
I'd never heard of a Tiguan - we were offered a Golf for the same 'price' - very happy with the Tiguan. By US standards it's 'only' got a 2 Ltr engine, but it's geared nicely at the bottom end, 6 speed, turbo charged. It's certainly impressed some US colleagues with its performance & handling, and we get around 27-28 mpg on the highway - crap by UK standards, but not bad for out here.
Cheers
HTS
If this is unusual, and others are interested, we leased a 2011 model VW Tiguan from VW, arranged through the AIG /International Auto programme - there are plenty of threads on this elsewhere on the forums. We put $1K down and are leasing for 2 years.
I'd never heard of a Tiguan - we were offered a Golf for the same 'price' - very happy with the Tiguan. By US standards it's 'only' got a 2 Ltr engine, but it's geared nicely at the bottom end, 6 speed, turbo charged. It's certainly impressed some US colleagues with its performance & handling, and we get around 27-28 mpg on the highway - crap by UK standards, but not bad for out here.
Cheers
HTS
Jul 5th 2011, 3:36 am
#19
Account Closed
Joined: Mar 2004
Posts: 2
Re: Cars, Buy or Lease
Boiler asserts that leasing is for the mathematically challenged. That's both funny and crap We leased. I have a degree in electrical and electronic engineering, which means that I can do hard sums, yes, even long division, percentages and calculus
As I said before, we had several criteria when looking to get a car, and total cost of ownership was trumped by several other factors, including cash flow, ignorance of buying used cars, and risk aversion.
We're happy with the choice we made at the time, though our next car will be a second hand car that we buy.
Bob asserts that leasing doesn't build your credit history. I'm not sure what that means exactly (does it add to the FICO score or not?), BUT our lease is reported as a line of credit with full payment history etc on my credit report. This may be unusual, but it is there, on my credit history. It may not build credit score but it is part of our history and demonstrates, along with other lines of credit, that we can run/keep a sizeable credit in good order.
Just be very clear as to the criteria and constraints you have when getting a car - and if you can, buy a young second hand car...
Cheers
HTS
We leased. I have a degree in electrical and electronic engineering, which means that I can do hard sums, yes, even long division, percentages and calculus As I said before, we had several criteria when looking to get a car, and total cost of ownership was trumped by several other factors, including cash flow, ignorance of buying used cars, and risk aversion.
We're happy with the choice we made at the time, though our next car will be a second hand car that we buy.
Bob asserts that leasing doesn't build your credit history. I'm not sure what that means exactly (does it add to the FICO score or not?), BUT our lease is reported as a line of credit with full payment history etc on my credit report. This may be unusual, but it is there, on my credit history. It may not build credit score but it is part of our history and demonstrates, along with other lines of credit, that we can run/keep a sizeable credit in good order.
Just be very clear as to the criteria and constraints you have when getting a car - and if you can, buy a young second hand car...
Cheers
HTS
But a piece of paper and a pencil would suffice.
Jul 5th 2011, 7:19 am
#20
Forum Regular
Joined: May 2011
Posts: 53
Re: Cars, Buy or Lease
Would you mind telling me what the monthly on that lease for a tiguan is please and the mrsp? I'm trying to figure out what I can afford.
Thanks in advance
Thanks in advance
