Should I Lease or Buy a Car?

Автор: RaymondLilly on воскресенье, 30 августа 2009 г. / Ярлыки: , , ,

When the time comes to get a new car, it is often stressful.  Either our old one died on us, or we want a new one, but need to cough up the money to pay for it which is never easy.  Regardless of your situation, there is often a common question that is asked “Should I lease or buy a car?”  We all think about this, but we’re not sure what we should do.  Both of them are expensive, but which one is better for us?

Leasing:

When you lease a vehicle you will have lower monthly payments, and a lower down payment than you would if you bought.  You can also drive a newer and better car for less, and have lower repair costs because most warranties will cover any issues you may have.  Also, you only pay sales tax on the portion of the car you finance.

Although those may all be advantages, there are some disadvantages as well.  When you turn in the lease you no longer have a car, therefore you need to find another one quickly.  Also, you can only drive so many miles on your lease, and if you go over, you’ll be spending big bucks because of it.  Not to mention, leasing is more expensive in the long run as opposed to driving until your car no longer runs (when you buy.)

Buying:

It is nice to have your own car, this means you can do whatever you want to it, rack up as many miles as you want, and sell it whenever you want.

Although, when you buy a car you will most likely have higher monthly payments, and you’re usually required to put down more money for the down payment.  Not to mention, any repairs that your car needs will need to be out of your pocket once your warranty ends.

Deciding whether you want to buy or lease is really a tough decision.  They are both expensive in the long run, and they both have many disadvantages and advantages.  Really, you just need to see what matters most to you, and what you can better afford.  Consider these ideas above for guidance.

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