I've always bought cars for around a few grand or less. Fixed them and ran them for a while. My S10 killed that for me. I rebuilt the tranny and did all kinds of repairs. Needless to say last year I bought a Mazda 3 for 0% apr. Now I'm spoiled after driving something I dont have to cross my fingers every time I hit the key. As far as leasing goes I almost did it but held off due to I wasnt sure where I was gonna buy a house. In a year give or take I'll probably just lease. All the Pro's and Cons have been listed, and basically I take great care of shit and dont drive a ton.