Loan or Lease
#12
Chevrolet does not have good lease plans on HHR's, I don't know why. But you could lease a more expensive Chevy for the same or less monthly payment as a less expensive HHR. I usually buy my cars and lease the wife's, keeping her in a new/newer car, so I don't have a strong opinion on either buying or leasing. The both have there pros and cons. But I would not lease an HHR.
#13
Lease vs. Buy
I own my own leasing company for office machines, and must tell you that in general, it is almost always better to purchase than lease. When leasing, you are limited in the number of miles you can rack up. Say you are limited to 12,000 miles per year on your lease. If you fit into that catagory, it means you don't drive much, thus owning your car will pay off, as it will have low mileage. When owning, you control your destiny. At the end of three years, if you want to purchase a new car - great - if not, say your job just went to hell in a basket, keep it. When leasing, they've got you where they want you. At the end of a three year lease, what is your choice? Buy the old one? Come up with a new payment for a new one? And God help you if you put a scratch in it - get out your wallet.
Some argue that in business it might be better because you "expense" the payments monthly, rather than depreciate the car over 7 years or so. You will get that back in the end when you trade it in.
I guess I like to be in control of the situation rather than the dealer. Buy it right, take care of it (and if you drive high miles leasing isn't even a consideration), and decide when it is right to keep it or trade it in.
I always equate it to owning a home or renting. Most of us believe it is better to own - and while the car salesman will always tell you that an automobile is a declining asset, which is true, it is still an item that you build equity into.
If it's good for GM or Toyota or Ford, etc. for you to lease, then it must be better for me to buy.
Just some thoughts.
Some argue that in business it might be better because you "expense" the payments monthly, rather than depreciate the car over 7 years or so. You will get that back in the end when you trade it in.
I guess I like to be in control of the situation rather than the dealer. Buy it right, take care of it (and if you drive high miles leasing isn't even a consideration), and decide when it is right to keep it or trade it in.
I always equate it to owning a home or renting. Most of us believe it is better to own - and while the car salesman will always tell you that an automobile is a declining asset, which is true, it is still an item that you build equity into.
If it's good for GM or Toyota or Ford, etc. for you to lease, then it must be better for me to buy.
Just some thoughts.
#16
NEVER lease a car with poor resale. HHRs have poor resale. For the lease payment of an HHR you could most likely lease a BMW! They have great leasing plans. :Ease luxury, Buy low residual cars used and pay cash.
I had 11K on mine last year when I bought it. Fully loaded 2LT. Only option not on the car was the spoiler and ash try kit. Paid $14k out the door. Car listed for nearly $25K less than a year old!! Car is probably only worth $11K now with 14K miles but I rather loose $2k then $6 or $7K in depreciation.
Find a nice low mile 2007 and you will get a great price on a nice car. These car's are really good values on the second hand market.
I had 11K on mine last year when I bought it. Fully loaded 2LT. Only option not on the car was the spoiler and ash try kit. Paid $14k out the door. Car listed for nearly $25K less than a year old!! Car is probably only worth $11K now with 14K miles but I rather loose $2k then $6 or $7K in depreciation.
Find a nice low mile 2007 and you will get a great price on a nice car. These car's are really good values on the second hand market.
#17
I guess I like to be in control of the situation rather than the dealer. Buy it right, take care of it (and if you drive high miles leasing isn't even a consideration), and decide when it is right to keep it or trade it in.
I always equate it to owning a home or renting. Most of us believe it is better to own - and while the car salesman will always tell you that an automobile is a declining asset, which is true, it is still an item that you build equity into.
If it's good for GM or Toyota or Ford, etc. for you to lease, then it must be better for me to buy.
Just some thoughts.
#18
Thank you all,
I have found a few of nice 2007/2006 in the 10K - 13K range. Which fits the type of loans I can get at this point.
Does anyone have a chart of sorts that lists the differences between 2006/2007/2008 HHR's? I am really curious if there is a big difference. Besides the OnStar(major geek factor for me, but not a show stopper).
Thanks Again!
I have found a few of nice 2007/2006 in the 10K - 13K range. Which fits the type of loans I can get at this point.
Does anyone have a chart of sorts that lists the differences between 2006/2007/2008 HHR's? I am really curious if there is a big difference. Besides the OnStar(major geek factor for me, but not a show stopper).
Thanks Again!
#19
I know that consumer Reports shows the 2007 as having much better reliability than the 06's. GM had another year to fix some of the most annoying issues. Mine has been plagued with quite a few minor issues. I would get the 07 if you can swing it.
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