[KYRGYZ]

Not sure where to post this thread, but I'll try here

I found a Sienna SE Premium for $23000k (taxes and fees included) for 60 month loan but payment came out same as brand new 2020 Honda Odyssey EX-L lease for 3 years... not sure which one I should get, anyone here can help me to do a right decision financially ?

2015 Sienna 41k miles - $360 a month for 60 month (loan) or
2020 Odyssey 0 miles - $360 a month for 3 years (lease) ?

It might sound dumb, but please bear with me, just trying to make a right decision here

 

[sideshowalan]

Sienna if you don't mind driving a used car and paying for repairs here and there but look forward to a future day of not making car payments.

Odyssey if you are a 'new car' kind of person, like the idea of a new car warranty, but also are ok with giving it back in 3 years and having $0 to show for it.

Financially, leasing is only the best decision if you are the kind of person that has to have a new car every few years.

 

[KYRGYZ]

Sienna if you don't mind driving a used car and paying for repairs here and there but look forward to a future day of not making car payments.

Odyssey if you are a 'new car' kind of person, like the idea of a new car warranty, but also are ok with giving it back in 3 years and having $0 to show for it.

Financially, leasing is only the best decision if you are the kind of person that has to have a new car every few years.

thanks
I don't mind keeping car for a long, but so far I didn't keep a single one for a longer than 2, max 3 years... with this purchase I might keep longer... or at least Tesla Cybertruck lol which is 2022

 

[circus]

You have a third option. Buy the 5yo vehicle and sell it after 3 years. Anything you get over $8600, to pay off the loan, is savings. Probably $4000 to $7000. Subtracting the savings from the payments comes out to a equivalent monthly payment less than $200 for the 5yo vehicle. Close to half as much money with no mileage limits. Of course the longer you keep it the better.

 

[Liselelal]

I will never choose to lease a car. The percentage at the end is too significant. Idk what to say about your ideas. I would take a mortgage. I also was in a similar situation. I wanted to buy a car, but I didn't have enough money. The dealer proposed I lease it. I disagreed, and from some recommendations, I took a mortgage recommended by a Mortgage Broker Doncaster. The extra percentage was not very high, and it was perfect. I didn't even feel it when I gave this money every month. And by the way, if you buy a new car, you realize that you will sell it at a much lower price over time. Take this into consideration!

 

[Bartholomew]

I had the same thought and ended up with the new sienna.

 

[Sundah]

The 2022 Toyota Sienna is a good minivan overall. The Sienna has a spacious and upscale cabin with seating for up to eight occupants. It's comfortable and reasonably agile to drive, and its hybrid powertrain returns excellent fuel economy of up to 36 mpg in combined city/highway driving.