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Should I buy or lease a new vehicle?

  1. Webskitzo profile image57
    Webskitzoposted 7 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!

  2. maheshpatwal profile image73
    maheshpatwalposted 7 years ago

    If you are buying it for a long term purpose then buying would be the best option as you'll have the ownership rights of the truck...

  3. Caroline Price profile image52
    Caroline Priceposted 7 years ago

    You could buy a demo.. You will not absorb the cost of driving a new car off the lot and in the end its yours and if you pay twice the amount of a payment by leasing you are just burning your dollar. If you choose to sell it in a year or so any gain is yours. Check out local dealers for the beast demo price you might be suprised..

  4. profile image0
    klarawieckposted 7 years ago

    We just bought a new Mazda 3. It's so shiny! But I've heard that Honda cars drop less in value over time. I'd say buying is the best option.

  5. milesofjazz profile image61
    milesofjazzposted 7 years ago

    Lease? Ugh! Never lease, it's such a waste of money. I wouldn't even buy new, myself. But if you must do one or the other, buy new.

  6. EatLovePray profile image55
    EatLovePrayposted 7 years ago

    If this will for a long term use, then you should buy it. However, if your going change it within 3 of 4 months, it is best to lease it.

  7. weholdthesetruths profile image61
    weholdthesetruthsposted 7 years ago

    Leasing amounts to financing the depreciation of a vehicle, plus paying useage charges, plus risking excessive depreciation when you're done.  Overall, it's generally a very bad financial move, especially for personal use.   Sometimes, it pays to lease for business, because you simply write off the payments.  Still, most leases are such a bad deal even that is negative to your financial situation, even for a business write-off.

    There is one situation where leasing makes sense, and that is where you definitely do not need whatever vehicle it is long term, and instead of buying and selling, you determine your costs up front, get to write it off fully, and it doesn't appear as credit liability on your business books.

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