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Smartbuy or SmartLease

1062 Views 8 Replies 5 Participants Last post by  robr2
HELP!! My other car has died (not an accident just old) worth nothing at wholesale.

I am waiting for my red EXL-RES to come in Oct. Unfortunately my payments will be in the mid $500.

Now I have to get another vehicle. My payments on that vehilce will be the same as my new Odyseey. I can't afford over $1K monthly payments.

The other vehicle I am buying is the lowest Chevy LS 2WD Suburban (DH does not want 2 minvans in our driveway). So I am thinking of Smartbuying or Smartleasing it.

Please advise me of the good, the bad, and the ugly about Smartbuying or Smartleasing it.

We don't want to buy a used car because we are not car mechanic savvy!!

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mmcd - do you really need a Suburban??

If car payments are the issue, bite the bullet and get something that will get you the payments you want. Trust me, I hated driving an Escort, but the payments were cheap and the car did the job.

If you absolutely need to go with something like a Suburban, look at 2-3 YO used. They take a beating in depreciation for the first owner and you might be able to get a good deal.

Good Luck
mmcd - I just realized my post sounded like I was on a soapbox. Not my intent and I apologize if you were offended.

I'm not familiar at all with either of the GM programs. Perhaps you may want to reconsider the EXL-RES and drop down to a plain EX. You can save some $ there. Also, if DH (I'm one myself and the D doesn't always stand for Dear
)is insistent on an SUV, you may want to consider a Suzuki Grand Vitara XL. Seats 7 and is more reasonably priced. I just checked out their web site and they start out at under $20K and are offering a lease of $249/month. Quality, I don't know enough to answer.

Or do as tompauline said - use home equity and buy an economy car. Will you need (2) 7 passenger vehicles all the time?

Congrats on the unexpected addition. My wife was a suprise to her folks (8 years between her and next sibling) and I'm happy about it.

Good Luck.
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mmcd - best of luck. I know the drop off/pick up routine. Luckily only 2 and I know no more on the way!!

Perhaps a used Volvo wagon with the rear facing seat or a new Taurus wagon with the same (do they still offer that)?

As for lots offspring, there is a family at our church with at least 7 kids ranging from newborn to about 12 YO. They drive a full size Ford airport van!!!

Good Luck.
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