2006-09-08 10:50:11 · 11 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
When you lease, you have to make sure that there are no dents in the car and you have to go by a certain milage, and, you cannot keep the car. If you go over on your leasin miles, you would have to pay and you are wasting money. Because, you cannot keep it. You have to give it back to them in the condition you drove out of it in. If you want to buy the car that you have leased, you have to start from scratch.
When buying it, that is what you are doing. You want to OWN the car. You do not have to worry about the gas milage, any real damages, any type of penalties, nothing.
So, don't lease, BUY!
2006-09-08 10:58:28 · answer #1 · answered by uchaboo 6 · 0⤊ 0⤋
ownership. a lease is only renting a vehicle for a set period of time and allows only for a set amount of mileage. if the mileage is exceeded, you have to make up the difference when you return the vehicle at lease end. buying allows you to pay for the vehicle, own it free and clear at the end of the last payment and not have to worry about mileage restrictions should you decide to get rid of it at any time. you still pay the same tax title and liscence fees when you get the vehicle so there is no saving money by leasing vs buying. the biggest financial difference is the amount you pay each month. the lease is lower, but remember the milage restrictions cause they can be very high if you put to m,any miles on the vehicl befor the lease ends.
2006-09-08 17:59:26 · answer #2 · answered by de bossy one 6 · 0⤊ 0⤋
If you own a business you can lease cars, take the total amount of payments and upkeep off as expenses and never worry about maintenance or how to dispose of the vehicle to get a new one. There are tax advantages also for those in othre service related jobs. Othrwise, it is a way to get a car when you have had credit problems or cannot afford the payments othrewise.
If you buy the car at the end of the lease, you have to pay even more money. Instead most just trade in for another lease, so they perpetually make payments on a car.
If you buy a car, not only is it yours when you pay it off, but it is the collatarol for buying the car and establishes good credit. When you pay it off you can lower the type of insurance you carry on it and lower your bills in more ways than one. If you paid it off through a credit union, you can pay it off with no penalties, save on interest and have a fully paid and maintained car. One you know its history. True after 5-10 years there may be maintenance bills, but they shouldn't come close to your monthly payments or it is time to buy another car.
For most people buying beats leasing every time. When you lease a car there are all sorts of maitenance stipulations that lock you in to using tthe dealership's mechanics and schedules as well as stiff penalties for damage or late payments.
2006-09-08 18:06:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
basicaly you pay less each month but you would need a really big down. For example: Mercedes-Benz was having a deal, you could either lease the $30K+ C-230 for $299 a month with a $2995 down payment or only pay $995 down and $370 a month for 27 months for a lease. Or you could go a head and buy it with $10,000 down with just a lil over $400 a month for 5 years. It's better to lease a car if you are like me and get sick of certain cars fast or that you have a down payment just not enough to pay each month to buy that really nice car you want. Lease's are short term though you can ask for longer and longer leases tend to be lower on the payments but you would have to put up with the car for that long. Buying though, after your financing is over the car will belong to you and you can do anything you want to it i.e. sell or crash it, plus your insurance rate will go down since you don't owe money on it. IF YOU CAN HOWEVER buy a car with full cash and no financing,, do it. It's the smartest thing you can ever do,, you can buy a car for $14000 and pay $200 a month for 5 years, after 3 years you car has a kelly blue book value of $3000 but you still owe $5000.
2006-09-08 18:00:17 · answer #4 · answered by chubbsx818 1 · 0⤊ 0⤋
At the end of a lease, you have to either turn the car back in or pay the then-current sales amount. Purchasing a car means when you're done making payments, it's yours outright.
2006-09-08 17:55:30 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Leasing is great if you drive under 10,000 miles a year and you want to drive a new car every few years. Dont go over on the miles and dont scratch or dent it or you will pay huge penaltys.
2006-09-08 18:00:01 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Leasing is just what it says, you pay monthly installments and when your contract is over you either buy the car or return it minus fees and penalties you pay to the dealer.
When you buy, you know you are keeping the car when the contract is over.
2006-09-08 17:56:29 · answer #7 · answered by saucylatina 5 · 0⤊ 0⤋
Buying new is like getting raped in prison; leasing is like getting raped by 50 death-row prisioners with HIV.
Both a very bad experience.
2006-09-08 23:24:01 · answer #8 · answered by Anonymous · 0⤊ 0⤋
leasing: you do not own it..your renting it from the company/auto maker/dealer..restrictive(any damage..you pay out the a.ss..) your limited to so many miles yearly/monthly..you have the option to buy out at a pre-determined price thats set at the beginning of the lease.
buying: you own..no restrictions..costs more monthly then leasing..
2006-09-08 18:07:04 · answer #9 · answered by mommy2savannah51405 6 · 0⤊ 0⤋
A lease is more like a looooooooong rental agreement. If you buy the car, its your property.
2006-09-08 18:03:42 · answer #10 · answered by Steve H 4 · 0⤊ 0⤋