2006-08-25 10:43:50 · 10 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Leasing serves only to bankrupt you unless your lease is for business purposes and you aren't paying it or are able to write it off.
I never understood why anyone would want to pay through the teeth for something that they will NEVER own. I've heard the argument that "I can can upgrade to a new car every two years" yeah that is right and you'll continue to make car payments every month forever!
Now even if you choose to buy the car when the lease is up you'll still be dinged way way way over fair market value for the same car you've had for 3 years and likely haven't been giving it regular maintenance because it's a lease. How much are you willing to pay for the POS it is now?
Only the dealer benefits in a lease - it is a legal form of highway robbery - pay pay pay pay pay and get nothing in the end.
2006-08-25 10:56:01 · answer #1 · answered by Lee 4 · 0⤊ 0⤋
After owning all of my previous cars I finally leased a new one this year. Leasing, for my business, allows me tax deductions and means I never have to worry about maintenance. There are problems with mileage allowed (I went for 15k per year), because if you go over it can get very expensive. For some people buying outright (cash) makes sense, but keep in mind that this is not a good long term investment (value of auto decreases immediately off the lot). A new car every two or three years is an added bonus to leasing. Do all the numbers involved though. $12,000 for a car you have to give back in 3 years doesn't always make sense.
2006-08-25 17:59:00 · answer #2 · answered by Justin B 1 · 0⤊ 0⤋
when you buy... you pay for the whole thing. when you lease its like renting the best part of the car.use only the miles you need andturn it in. or trade it. just like if you owned it. but you will never have negative equity (owe more than it is worth)
its a better option than buying if you trade up every three yrs or so. and it will almost always be a great deal cheaper per month. all that you do need to know... is how many miles you drive a yr... if you drive 15000 and you get a 12000/yr lease... you will have problems at the end...so use common sense
2006-08-25 17:47:52 · answer #3 · answered by pencilnbrush 6 · 0⤊ 0⤋
if you buy the car you bought it, you own it forever. with leasing your monthly payment will be considerably cheaper, you can trade after your term or you can buy it out. leasing is good if you live in the city and won't be putting too many kilometers on. also it's good if you need to get a second vehicle. driving a brand new car for 3-4 years (no worries about breaking down), is pretty sweet and then you get to trade for another new car, awesome.
2006-08-25 18:04:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The car company makes more money on the leased car. Basically you are renting the car, you never own it.
2006-08-25 17:49:43 · answer #5 · answered by hmmm... 4 · 0⤊ 0⤋
At the end of the payments, you give back the leased car, you keep the other.
2006-08-25 17:47:56 · answer #6 · answered by makawao_kane 6 · 0⤊ 0⤋
Leasing a car is like renting it.
If u buy it u can own it.
Plus leasing is more money down....
2006-08-25 17:51:00 · answer #7 · answered by redbone8188 3 · 0⤊ 0⤋
Leasing sucks. You will hate it.
2006-08-25 17:46:48 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Nothing really. It's like a different sex position. The outcome is the same, you still get F'd.
2006-08-25 17:52:42 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Buying: You own it.
Leasing: You rent it.
2006-08-25 17:52:09 · answer #10 · answered by Bostonian In MO 7 · 0⤊ 0⤋