Wow, this thread has been really helpful. I read the whole thing this morning (took a couple of hours)!
Thanks so much TimSJ for all your help. Not many would provide free advice, especially when some of your advice probably isn't good for business. You're a peach!
Anyways, I've got a few more questions (I noticed you posted in the Hottie Draft thread, so I know you're around!). Haha
Sooo, I'm looking to buy a slightly used vehicle this summer and was thinking about a small sedan like a Mazda 3, Honda Accord, or Toyota Corolla. Upgrading to something like an Acura isn't out the question either. So the first question would be ....what do you think of the first three cars I mentioned, and then lesser known cars like the Mitsubishi Lancer or Nissan Versa? How do they compare (you can be very brief)?
Also, why do you think that leasing is a better option than buying if you don't plan to hold onto the car for more than five years? I'm thinking of buying a 2007 or 2008 at around $17,000 or so, and then selling in three years (comparable to a 04/05 now) for about $13,000. I'd only lose about $4000 (plus taxes and whatever that I paid initially), which is much, much less than I would pay leasing for three years.
Also, how much of a recent grad do you have to be to get the $500 discount, and is this Canada-wide?