I imagine a lease has it's advantages but if your planning on keeping your automobile for ever then a purchase is the way to go I believe.
I agree with you because I usually keep a vehicle for years. I had the last one 8 years and the one before that 12 years, but I don't put many miles on a vehicle. However, people who put high miles on their autos, such as salesmen and others who travel in their work, tell me that they come out ahead financially by leasing. A person I know leases an SUV to travel around the state for her job but they own a family vehicle and her husband drives it to his work locally. She says it's the best of both worlds.
I really do not know the details surrounding lease plans. I always heard they had low annual mileage limits so I thought they would be bad for travel. Seems that may not be accurate. I always keep my vehicles a long time and get way too attached to them. For that reason, I choose to buy my vehicles.
The way to tell is to do the calculation. Multiply the lease payments by the length of the term. How much is the total? How does that compare to the outright purchase price?
I'm in Australia and here, leasing always works out far more expensive than buying - but it may be different in the US. However, I'm not sure how much different it can be. After all, the leasing company has to make a profit out of the lease, so it stands to reason they'll add their margin.
In Australia, the only people who lease are businesses, because they can claim the lease payments as an expense, which reduces their tax. So although the lease costs more, they save on tax and come out ahead. If you're not using your vehicle for business, you can't claim the payments on tax, so you're way behind.
I found this useful comparison and calculator for the US:
http://www.smartmoney.com/calculator/au … 833645461/
by Webskitzo 8 years ago
Should I buy or lease a new vehicle?A big truck to be specific...don't know if that changes the answer or not. Thanks!
by Pixienot 14 months ago
Which is better...buying a used car or a new car?
by Vince 24 months ago
Should I buy or lease my new car?I have always bought new cars, leasing is starting to sound better to me. Should I keep buying or lease, tell me why you do or the benifits of either to help me make a choice.
by sophie555 8 years ago
hi i need to make money for a horse that i half lease because i want to buy her how should i...how to make alot of money FAST!
by Laura Schneider 4 years ago
Are you happy with your car? Or, do you wish in retrospect that you'd gotten something different?What car are you happy/unhappy with and why? What would you change? ("Car" includes all vehicles here—whatever you drive.)
by O 3 months ago
To lease or finance a car, what do you think?
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