What are the pros and cons of leasing a car?
Trying to determine, instead of buying a car, does it make sense to lease and not buy outright.
Pros: you get to test drive the car and get a feel if you really like this car or not. If you don't like it, or want to try another model, you can turn it back in.
Cons: leasing a car is just like renting versus buying a house. You make those payments every month but nothing goes towards the equity, so you walk away with nothing. At least when you own a car and pay it off, it's yours.
The difference between buying a car and buying a house is that a car depreciates in value over time from wear and tear and eventually becomes worthless, whereas a house should appreciate in price over time if it is kept in good order (normal times).
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