Is it better to lease when you commute 100+ miles everyday to work?

Perry Deshazior: Leasing will kill you. If you lease you generally get 12,000 miles a year. If you commute 100 miles a day you will have used up your miles in 120 days. Then you pay about 20 cents per extra mile. Which means you will pay an extra $20 a day to commute to work once your annual miles are used up. Or about an extra $2400 a year. And you will have no miles left for personal driving. A lease only makes sense if you can stay under the mileage allotment. And if you get a "high mileage lease" it will cost you more than buying.Either just buy a cheap new car or keep putting money into what you have.Leasing would be absolutely foolish for you....Show more

Dawn Saha: I have yet to see the value in leasing.Assuming you drive to work 50 weeks a year, you will quickly rack up 20,000 miles just commuting to and from work. You would have to prepay for upwards of 8,000 to 10,000 miles a year if you lease. Leasing costs could easily exceed purchase costs.Personally ! pick up a two to three year old car. Tremendous savings over a new car. ORTake a look at Hyundais. Best warranty in the business. I have a '08 Elantra. Best car I have owned.Good Luck...Show more

Nicolas Cooley: I also commute. 60 miles each way for a total of 120 miles a day. I buy a new, but the cheapest price Ford Ranger I can find. The Ranger has cloth seats and air conditioning, but I try not to purchase any other extras. I've done this for the past 15 years. I've been trading them around 120,000 miles or so. They probably would drive for more miles, but I try to minimize my getting stranded on the highway.I look at it this way, I would rather pay for the commuting expense, than to have to move to the town I am working in.A couple of years ago, I hit a patch of ice and off the highway I went. Thankfully, the ditch wasn't real deep, but the Ranger drove through it and landed in a farmer's field. A car would have probably gotten stuck in the ditch and smashed ! the front. The truck was driven out with no damage to it. This! is mostly why I stay with the Ranger.I think leasing would be more expensive because of the high mileage you are putting on the vehicle in a short amount of time. Go to the car dealership and they can figure you a price both ways using your statistics--leasing versus buying.(That's helpful that you do get $250 a month to help out with this expense.)...Show more

Weldon Totaro: Most leases are for about 10,000 miles per year. If you go over that limit they will charge you extra. I would recommend buying a car rather than leasing it.