I have done both, and I think buying is better. Comparing the two: leasing you are limited on mileage, you will get to drive a new car for less money a month, but in the end you have to turn the car in (or lease another ). Many leases you have to put down a couple thousand dollars to get a low payment. And all the money you spend leasing, you could have used to buy. Buying - this is your car and you can sell it at anytime. Your bill may be a little higher, but in the long run you own the car at your final loan payment. Buying you have no mileage limitation - you can drive as much and as far without the worry that you are going over your miles. Leasing - you have to pay additional money for going over the mileage you signed for - usually 12,000 miles a year on a lease.
Lastly, if you drive less than 1,000 miles a month and like having the latest vehicle all the time, making payments every month, leasing is for you.
It really isn't that great to lease cars, unless you own a business. Think about it - you are paying pretty hefty monthly payments for something that you will never own. At least if you buy a car, you can resell it and recoup some of your money or trade it in for a new one down the line. You also have to be careful with the terms and conditions when you lease a car. Some stipulations are that you can only put a certain amount of mileage on the vehicle. If you are thinking about leasing a car, just make sure that you understand all of the terms and conditions so that you don't get stuck with a payment or car that you're not happy with.
It is a tax question based on your employment, benefits and income level. Companies tend to lease their cars for key employees.
by O 9 months ago
To lease or finance a car, what do you think?
by Vince 2 years 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 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 BlissfulWriter 5 years ago
What is the difference between renting and leasing?Why some say "for rent" and others say "for lease"? Aren't they the same? Or is there a technical difference in definition?
by Stacie L 3 years ago
How many cars have you owned in your lifetime?Most people have owned at least 5 cars when they reach 60 years and many trade them in every year. How many have you owned in your lifetime?
by Charlu 7 years ago
Did you buy your car based on gas mileage, it's fast/hot, $, fits my family, and what kind is it?
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