Loan or lease?

Question

I've found a car I'm really interested in purchasing once I turn 18 in mid-September. I'm going to be moving out on my own and will need my own vehicle. I have a steady income, I'm just wondering what's the best way to go about paying for the used vehicle. Should I lease it, or get a loan, and which method would be cheaper? The type of vehicle I'm looking at is anywhere from 11,800-14,000. I'd appreciate the help.

Answer 1

Get a loan. That way at the end of your payments you'll have something to show for it and you won't have to worry about mileage. It makes better financial sense.

Answer 2

Well...the truth is there is no real difference. The only thing that makes one more expensive than the other is going to be the interest rate. If you lease a vehicle you are only going to pay for the portion of the vehicle you use (Purchase price MINUS residual value or buy back). If you choose to buy the vehicle in the end you will see that you have not really paid any more UNLESS the interest rate is higher on one than the other. IF the lease contract has no buyback or residual value (0$) than you will be paying the whole amount out. The only advantage is that you will have smaller payments if the lease does have a residual value at the end.

Answer 3

the problem is that, at 18, you won't have credit, so you'll be high-risk unless you have a sizeable downpayment (20%+)

a loan may be cheaper so you can refinance it after a year or so of steady payments, since you won't be able to get out of a lease...be sure you can afford the car with rent and other living expenses, or just get a good used car

Answer 4

Loan!, If you lease you don't own anything, your just paying the car company to drive their vehicle and when lease is over you have to buy it (for not much less then it started) or continue to lease something else, again, and again.

Get a Loan for it, then you can buy it, then it is yours.

Answer 5

the regulations count on what you artwork out with the owner. you frequently pay a flat cost. regardless of if that's a nil.5 hire, it would be a million/2 the fee of board, feed, vet, farrier etc for a month, an entire hire could be the total expenses yet nevertheless a flat cost according to month. frequently the horses is boarded the place the owner needs. it fairly is so as that they might shop an eye fixed on the horse and understand the place that's. If there are 2 human beings utilising the horse, that's much less stressful to have the horse at a series place extremely than the place one individual desires to maintain it. in case you do an entire hire, then you definitely are able to board someplace else, yet might might desire to sparkling it with the owner. a tribulation could be a solid theory, yet communicate with the owner. you will possibly desire to initiate with a month and bypass from there with out criminal duty to proceed. in case you do decide to maintain utilising the horse, longer contracts might might desire to be labored out, it would desire to be 6 months or longer and can be redone while needed. in case you opt to take the horse to a teach, you will possibly want to sparkling it with the owner first and you'd be to blame for all expenses linked with it. you additionally can might desire to get your individual tack and equipment. some vendors do no longer want human beings utilising their tack. the horse might desire to have a halter you should use and probably grooming aspects, yet ask approximately it. in case you do want your individual tack, make certain you element that into your funds. communicate with quite a few human beings approximately leasing so which you will get an theory on what that's like on your section and to locate the perfect horse and association for you.

Answer 6

I dont believe you can get a lease on a used car. Also if you dont have a credit history you will not be able to get a loan unless you get a co signer.

Answer 7

take door number 3. save your money, and pay with cash.

Answer 8

dont lease