It's time to start thinking about getting a different car. I hate making car payments so I think purchasing would be better, but it sounds like I can make smaller payments if I lease instead of buy. What should I do?
2007-02-02 01:37:09 · 7 answers · asked by oklady 3 in Cars & Transportation ➔ Buying & Selling
Buy a newer used car; smaller payments, no restrictions or mileage limits etc. If having a new car is a must and mileage restrictions etc dont bother you then leasing may be ideal for your situation.
If it were me; Id buy something thats newer but used from a dealer etc where they check it over and you have a guarentee etc. That way it would be your car with no restrictions and you can sell it at a possible profit when its time to move on.
2007-02-02 01:44:03 · answer #1 · answered by pontiacpowered71 3 · 0⤊ 1⤋
You would lease because:
1. You change cars every couple of years.
2. You don't drive more than 15,000 per year.
3. You don't like high car payments
If you do NOT meet all the above criteria, stick to buying. Insurance payments will be higher on a lease also because the Liability clause mandates that you have to get high coverage ($100,000/300,000).
Research prior to signing anything.. and be careful.
2007-02-02 02:20:54 · answer #2 · answered by rob1963man 5 · 0⤊ 0⤋
We could best answer this question if you told us what kind of car you want. There may be special lease rates for certain models, as in no down payment, or no mileage restrictions. Another thing to look into, is financing for 6 years at 0% interest. Lots of manufacturers do that nowadays.
2007-02-02 02:33:18 · answer #3 · answered by Anonymous · 0⤊ 0⤋
When you lease a car you have to be able to keep the milage within the range noted or you will have to pay a fortune in overage fees. That's where they get you. It's also good to lease if you are a business even a small one and you can write off the entire cost of the lease. So if you can stick to the mileage they tell you then a lease is the better option in my opinion.
2007-02-02 01:48:35 · answer #4 · answered by Anna Hennings 5 · 0⤊ 1⤋
Leasing is really mainly for businesses, because to can deduct the whole cost of the lease, whereas you can only deduct the depreciation of a car you buy.
If you want to get a good car and then run the wheels off of it (the best method in my opinion) buy it, in the end it is cheaper.
If you put few miles on your vehicle and you like to change to a new one every three years then the advantage swings to leasing
2007-02-02 01:56:21 · answer #5 · answered by startrektosnewenterpriselovethem 6 · 0⤊ 0⤋
It depends.
Leases and loans are simply two different methods of automobile financing. One finances the use of a vehicle; the other finances the purchase of a vehicle. Each has its own benefits and drawbacks.
2007-02-02 02:37:05 · answer #6 · answered by oklatom 7 · 1⤊ 0⤋
You would not. See the link below.
2007-02-05 01:13:54 · answer #7 · answered by Anonymous · 0⤊ 0⤋