OT: Lease vs Buy Car | Page 2 | The Boneyard
.

OT: Lease vs Buy Car

S

Steve85

Joined
Aug 27, 2011
Messages
95
Reaction Score
122
Since we have some finance types/smart analytical folks here, I thought I’d post this scenario to get thoughts from anyone inclined to reply:

My lease on a ‘22 Subaru Legacy sedan is up next month. residual value $22K (actually slightly below market value) and I’m deciding whether to buy it or lease another car. I only drive < 10-12K/yr so within most lease parameters but I can’t help but think of the inevitable maintenance/repair costs that I would pay with a purchase as compared to another leased car. also throw in the mix that Subaru has discontinued the Legacy sedan after ‘25 model year and I worry about parts availability, maybe not initially but in the coming years. is this a legitimate concern?

I appreciate anyone who wants to give their opinion. thanks in advance.
 
IMO buying out the lease is a good move. You’re getting a below market car that you know the history of.

The car still has low mileage and years of service left.

The Legacy shares a lot with the Outback/Impreza. Critical components will be available for a long time. Parts and service should be fine for at least the next decade.
 
Waquoit said:
When I bought my last car, the guy asked if I wanted $1000 cash back or 0% financing. Then he says, "How about both? We'll make the cash back the down payment." I'm like, okay. I'm still trying to figure out the catch.
Expand ...
The catch is they marked up the selling price to cover both.
 
My take: If you’ve been happy with the Legacy and don’t mind handling routine maintenance (oil changes, brakes every 30-50K miles, etc.), buy it—the residual deal and your driving habits make it a low-risk ownership play. If you crave that new-car warranty peace of mind or want to switch styles, lease something fresh. Run the numbers with a buy vs. lease calculator (accounting for your local taxes/rates) and test drive alternatives to decide

Your concern about parts availability for a discontinued model like the Legacy is understandable, but it’s not a major red flag in the near term (say, the next 5-10 years), and probably even beyond that. While there’s no universal law mandating how long automakers must supply parts, industry norms and expert discussions indicate manufacturers like Subaru typically provide OEM parts for 10-15 years after a model is phased out. For context, older Subaru models from the 2000s still have decent parts support today. More importantly, the Legacy shares its platform, engine, and many components with ongoing models like the Outback (which isn’t being discontinued), so common parts should remain readily available through dealerships and aftermarket suppliers.
 
uconnfan68 said:
No, it was the head gasket...
Expand ...
There are two possible reasons for a head gasket to become faulty:

1 - don't pay sufficient attention to oil and/or coolant to the point where the car continually runs hot and the abuse leads to the head & gasket to become faulty.

2 - the car was poorly engineered to the point where either intentionally or unintentionally the head (among other things) begin to systematically fall apart after a certain amount of milage.

In my youth (many decades ago) I bought one of thr first American made economy cars and fell victim to the latter. Through 40k miles the car was great. Then things started going bad every 5k miles or so. Head went at just pasy 60k miles and within a year there was no way to keep up with the repairs.

I'm still convinced GM designed that car to fall apart on schedule just as it did.
 
Hoophound said:
You might want to see what lease programs are out there that appeal to you first though. With inflation the way it is, sticker shock may make buying the Legacy a better option. I haven’t been watching car prices closely lately. An acquaintance of mine recently bought a Kia Sportage X Pro Prestige. It’s a loaded Sportage with off-road tires, cooled seats etc. I think it’s really cool. I was shocked to see it is a $43,000 car when I looked it up. A Kia Sportage shouldn’t be that expensive in my brain, but that’s where prices are now. It’s a nice vehicle and all, but a Kia Sportage was always a budget ride.
Expand ...
Kia found a nice niche with the recent Sportages. There's 4 on my street and I have one. As Toyota and Honda got a bit more expensive post COVID, it was the best of the cheaper hybrid SUVs (very good room/trunk space, good mileage for the style, good tech standard on the hybrids, good warranty). We'll see about the long term reliability.
 
auror said:
Kia found a nice niche with the recent Sportages. There's 4 on my street and I have one. As Toyota and Honda got a bit more expensive post COVID, it was the best of the cheaper hybrid SUVs (very good room/trunk space, good mileage for the style, good tech standard on the hybrids, good warranty). We'll see about the long term reliability.
Expand ...
All of them were stolen where I live.
 
HuskyHawk said:
Is that theft prevention issue still a problem? I'm looking to trade a car my daughter drives for something a little smaller and newer and the Kia Seltos and Hyundai Kona were high on the list. But she may end up parking it in Boston depending on where she lives. Hyundais and Kias Are Harder To Steal Now but Theft Crisis Isn’t Over
Expand ...
The numbers are down a lot since the highs but still nowhere near were they were before everything got out of control around 2020.

I'm sure the software update has helped along with more enforcement/plate readers. All crime shifted down significantly in the past 1.5 years and it's goen down even more recently. It's nice not having to look over your shoulder constantly.

The car theft/car jacking was insane for a few years.
 
uconn1999 said:
My take: If you’ve been happy with the Legacy and don’t mind handling routine maintenance (oil changes, brakes every 30-50K miles, etc.), buy it—the residual deal and your driving habits make it a low-risk ownership play. If you crave that new-car warranty peace of mind or want to switch styles, lease something fresh. Run the numbers with a buy vs. lease calculator (accounting for your local taxes/rates) and test drive alternatives to decide

Your concern about parts availability for a discontinued model like the Legacy is understandable, but it’s not a major red flag in the near term (say, the next 5-10 years), and probably even beyond that. While there’s no universal law mandating how long automakers must supply parts, industry norms and expert discussions indicate manufacturers like Subaru typically provide OEM parts for 10-15 years after a model is phased out. For context, older Subaru models from the 2000s still have decent parts support today. More importantly, the Legacy shares its platform, engine, and many components with ongoing models like the Outback (which isn’t being discontinued), so common parts should remain readily available through dealerships and aftermarket suppliers.
Expand ...
One consideration on the availability of parts is now the issue of tariffs. Unless foreign companies are willing to set up a US manufacturer for parts I am concerned that this will have an impact, perhaps significant impact. The good news is being a low milage driver. We may soon have a glut of used cars at lower rates due to a big upturn in auto loan failures. I buy only used, low milage luxury cars (I drive 7 to 10K year) and get them through carfax where I can find lower mileage cars that have a regular dealer repair history, accident history if any
and examine the CT required safety inspection report which is law. Important to ask the dealer if he actually made the repairs noted on the inspection. I have even asked the seller to allow me to bring it to an independent dealer (GM, Lincoln etc.) for an independent inspection
which costs around $150-200. That's cheap for the peace of mind. Good luck!
 
CL82 said:
Another option is for you to buy or lease a car that's coming off its first lease. That is often the sweet spot because initial depreciation has already been paid for.

If you decide to keep your car, I might play coy about it and see if you can sweeten the deal a little bit. Given the fact that it has been discontinued, they're probably won't be a big demand for it so the dealership may be willing to give you slightly improved terms if you keep it. You can try asking for a reduced purchase price, or perhaps an extended warranty or even something as simple as free oil changes. If they say no, you still can execute on your existing purchase option. Just a thought.
Expand ...

I've been a fan of getting three year old CPO cars coming off leases.

Let someone else eat the first 50% depreciation and ypu get a real good vehicle with about 30k-35k miles on it. Another year or two before any work on brakes or replacing original tires.
 
John said:
isn't it economics?
Expand ...
It's a direction that is likely to get the thread locked either way. Parts availability shouldn't be driving anybody's car buying decision unless you're looking to get an old Triumph or something weird. The Legacy is built in Indiana. I don't know how many parts it shares with the WRX but those things have a very robust aftermarket and the Outback that was born as a Legacy wagon is going to be around a long time.

Still think the only downside to buying the Legacy depends on whether @Steve85 actually likes driving it. There are multiple options around that price point or he could spend a little more.
 
Hijacking the thread. Question for New England based folks about front wheel drive cars. I am looking at a car for my daughter, and a particularly nice used car is FWD not AWD (even though the model can be AWD). I drove FWD cars in the snow for many years and while that was occasionally frustrating, I managed. But unlike my daughter, I hooned around doing donuts, drifting cars, power-sliding and counter steering cars in the snow as a teenager. So my comfort level with losing traction was much higher. I don't think she even knows what torque steer is and all you need for that is rain. So are any of you driving FWD in our weather and do you have any issues? I realize AWD is no magic bullet, but it does help.
 
HuskyHawk said:
Hijacking the thread. Question for New England based folks about front wheel drive cars. I am looking at a car for my daughter, and a particularly nice used car is FWD not AWD (even though the model can be AWD). I drove FWD cars in the snow for many years and while that was occasionally frustrating, I managed. But unlike my daughter, I hooned around doing donuts, drifting cars, power-sliding and counter steering cars in the snow as a teenager. So my comfort level with losing traction was much higher. I don't think she even knows what torque steer is and all you need for that is rain. So are any of you driving FWD in our weather and do you have any issues? I realize AWD is no magic bullet, but it does help.
Expand ...
Obviously awd is better, but equally important are TIRES.

Have a house in Vt. had a fwd car with performance tires. Had to get towed out twice in one weekend. Switched to 4 snows…car was a tank. Never got stuck

Also had an AWD Mdx after the car. Got parked on a side hill with hard pack/ice. Car started sliding toward edge of parking lot and wouldn’t get out. Called a Vt local to give me a pull out. He saw my ACURA Issued tires and just started laughing.
 
NJHusky said:
Obviously awd is better, but equally important are TIRES.

Have a house in Vt. had a fwd car with performance tires. Had to get towed out twice in one weekend. Switched to 4 snows…car was a tank. Never got stuck

Also had an AWD Mdx after the car. Got parked on a side hill with hard pack/ice. Car started sliding toward edge of parking lot and wouldn’t get out. Called a Vt local to give me a pull out. He saw my ACURA Issued tires and just started laughing.
Expand ...
Oh I know. But the reality is that a 20 something living in an apartment (or at my house for awhile) isn't going to switch from all seasons to snow tires and back twice a year. Honestly, all-seasons are fine unless you're driving on unplowed roads regularly. I put Nokian all-seasons on her current car (about 80-90% snow tire ability) for that reason.

I've been stuck on hills and had to be winched up going to our house in VT. AWD in an old Lexus RX. Confirmed the importance of tires but also that that AWD system sucked. Our prior Subaru would have made it up.
 
HuskyHawk said:
Oh I know. But the reality is that a 20 something living in an apartment (or at my house for awhile) isn't going to switch from all seasons to snow tires and back twice a year. Honestly, all-seasons are fine unless you're driving on unplowed roads regularly. I put Nokian all-seasons on her current car (about 80-90% snow tire ability) for that reason.

I've been stuck on hills and had to be winched up going to our house in VT. AWD in an old Lexus RX. Confirmed the importance of tires but also that that AWD system sucked. Our prior Subaru would have made it up.
Expand ...
I actually had to back up a hill eons ago because I needed more weight on the front tires...

As an aside, I also like the AWD for driving in heavy rain, which is more likely than heavy snow. I was going to buy out our last suv lease, but wify didn't like it because it was FWD....and we live in Fl now..lol
 

Online statistics

Members online
331
Guests online
5,759
Total visitors
6,090
Totals may include hidden visitors.

Forum statistics

Threads
164,783
Messages
4,410,592
Members
10,236
Latest member
Hoopster80


.
..
Top Bottom