Continue to lease my cars or buyout the current one?
The Jetta is one of the least reliable cars on the market. Also, take into consideration (depending on what state you live) diesel can be 50 cents/ gallon more than regular petrol. My advice: Check out the Civic Sedan (hybrid if you have the money), Toyota Corolla (not the XRS), Or the Mazda3i (not the 3s). All of those cars offer adequate power, excellent reliability ratings, and good fuel economy. A lot of people also like the Hyundai Elantra, but if you are like me, the thought of owning a Hyundai makes me cringe.
What kind of car can be purchased for a payment 220.00 a 60 month loan and a 2007?
You really can't get 2007 car for a payment of $220/month for five years. Unless you get a super low interest rate (even then it might be impossible) Also it depends on how much you are wanting to put down on the car. Which I assume is nothing since you didn't mention it. Get yourself a financial calculator and pay around with what you can afford and it can tell you how much of a car you can afford.
Would it ever make economic sense to Lease a car with the possible end result of purchasing the car at the end of the lease period, or is it better to just purchase the car with a standard car loan?
Generally speaking, leasing & owning a vehicle averages the same expense over the short term. So, why not do that & then buy the vehicle when the lease ends?There is only one thing to consider here (in the US): Do you like paying Sales Tax twice on the same item? Huh! you exclaim. Pay twice? That’s a rip-off, isn’t it? How does that work?Well, here’s how it works in most US States:You pay sales tax on the full price value of the leased vehicle when you lease it.When the lease ends, the vehicle is no longer under your control & the ownership reverts to the lessor.Now, if you decide to buy the vehicle, it is considered a sale & sales tax is charged that covers the residual value of the vehicle as a used car.So, if you are happy being rip-offed by the State, go ahead & lease the vehicle. Then buy it after the lease is over.
Trade in car to lease another one?
just to clarify, my credit score is very high, thank you. my car is not worth anything because it won't run unless i get a new engine (if i can't trade it in? fine. i was just wondering if it was possible). i need a car NOW and cannot possibly save up enough money to buy one in a timely fashion. i wasn't asking if leasing was a good or bad thing to do and why, i was asking if it was possible to trade in a car if you're planning on leasing a new one.