Pros and cons of both, please.
2006-12-29 06:54:58 · 11 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
I wouldn't recommend either, but if you you have to have the newest model, I would recommend buying any day over leasing. With leasing, you basically rent a car for a few years, and have the option of buying it at the end of the lease. You don't own the car, and there are usually mileage limits with stiff penalties for going over. Not to mention you are throwing money away every month for the length of the lease. And buying the car after you leased it is a bad idea too, because they are not going to give you a good deal on it. When you lease you might pay less per month for an equivalent car that you buy, but at the end of the lease you have nothing except a lighter wallet.
2006-12-29 07:09:00 · answer #1 · answered by THEGUY 3 · 0⤊ 0⤋
Well, I think that if you buy a car then you are thinking not to get a new one for a while but leasing can be costly and if you want to ride in a new car every year then leasing is the option for you.
2006-12-29 15:00:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Leasing is nice cause after the lease is up you don't have to renew it and continue with payments if you don't want too, you can just turn the car in...if you buy your stuck with payments until you pay the car off but then you have the car. I would say its ones own preference.
2006-12-29 14:59:55 · answer #3 · answered by oxygenO 6 · 0⤊ 0⤋
Don't know too much about it but - my boss leased a car for him, when the three year period was up and he renewed, no probs. When his wife's three year term was up, because they couldn't lease the car she wanted, they bought one, and the leasing company charged them a bomb for things that were apparently wrong. So watch your step with this one girl! Could be okay in the short term but if you want to revert to owning your own car could be expensive. Also depends on what make you want to lease. Personally, I'd rather own myowhn car.
2006-12-29 15:01:47 · answer #4 · answered by Mother Hen 3 · 0⤊ 0⤋
We lease our vehicles. You always have a new car. You have bumper to bumper warranty for the duration of the lease, so you don't have to pay for costly repairs. You get a free rental car when you have to leave it for service work or repairs. You just give it back at the end of the lease and get a new one. We have been doing this for years and it works out really well.
2006-12-29 15:00:28 · answer #5 · answered by Charlene T 2 · 0⤊ 0⤋
I'd say depends on two things
1. how long your going to keep it for
2. the mileage you do
if your going to keep it for more than 4 years, buy it
if you do loads of miles, buy it
so if you buy a new car every few years and do average miles, lease it, or get a deal where you hand the car back after the agreement
2006-12-29 15:03:03 · answer #6 · answered by Adam 2 · 0⤊ 0⤋
It depends on how many miles you drive. You could get a new one quicker and just walk away from the old one.
A new one you would have to keep and pay on for 5-6 years and you are going to get sick of it but you don't have to worry about miles.
It all depends on your lifestyle. Sometimes the payments are lower on a lease.
2006-12-29 15:03:36 · answer #7 · answered by Yikes! 5 · 0⤊ 0⤋
lease,definately,no tax,low insurance,full service /recovery backup,new car if you dont like colour,i have brand new bmw 535tdi for £53 a week over 2 years,it would cost me more than that with an independant insurer for 1 weeks insurance,
ps; as for the mileage,u get a laptop and a program called tisem,put your dongle in and hey presto,no charges incurred for miles covered lol,dont pay for what you dont have to,
2006-12-29 15:00:31 · answer #8 · answered by done it 3 · 0⤊ 0⤋
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2006-12-29 15:04:39 · answer #9 · answered by Corwin B 1 · 0⤊ 0⤋
Check out www.daveramsey.com or Dave Ramsey's books. I think you'll find very good advice there.
2006-12-30 02:48:29 · answer #10 · answered by mamag 1 · 0⤊ 0⤋