Should I buy or lease a new vehicle?

1. 60

   Webskitzoposted 13 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!

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2. 66

   maheshpatwalposted 13 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...

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3. 58

   Caroline Priceposted 13 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..

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4. 0

   klarawieckposted 13 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.

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5. 59

   milesofjazzposted 13 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.

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6. 60

   EatLovePrayposted 13 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.

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7. 60

   weholdthesetruthsposted 13 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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