Hey Scotty, a friend of mine has been saving up to get her first car. Her parents think that she should lease a car, but I think she should pay cash for a reliable used car, preferably a Toyota, that way she doesn't have to worry about monthly car payments and only being able to get full coverage insurance. Any tips that you can give her to help her in making a decision? (Also, can you you probably include this in one of your Q&A videos?)
@patrickvwfan
Buy good, low mileage used ! Check it out before purchase, stay away from lease/rental return vehicles, buy private party whenever you can and don't be turned-away by minor faults that can be easily fixed for a couple hundred bucks. Check-out the best regarded vehicles for reliability and safety, like Honda Civic/Accord, Toyota Corolla/Camry, avoid any Chrysler product, Kia or Hyundai (repair shops get rich off the last 2). If you lease for 39 months @ $250.00/mo, you give corporate big shots almost 10 grand and you have nothing to show for it ! Leasing is good in a corporate environment where tax write-offs can be beneficial, but offer little or no benefit to individual consumers. And leasing agents LOVE mileage penalties !!
Depends on what she wants and how long is going to keep it.
If she wants a reliable car for more than 15 years, then buy a Toyota, Honda or Lexus.
Paying cash is the cheapest option.
