is leasing a car smart?

Answer 1

For an easy-read, take a look at the following link which specifies the PROS and CONS of automobile leasing.

http://www.bankrate.com/cnn/green/auto/basics4-2a.asp?caret=29

Answer 2

It all depends on how long you plan on keeping the car.

If you are the sort who gets attached to cars and plan on keeping for years to come, then buying isn't such a bad option since you will eventually stop making a regular car payment after the loan is payed off.

However, if you're the kind of person that gets the "new car itch" every 2 or 3 years, then leasing may be right for you. Lease payments are generally lower than loan payments. And if you keep financing a new car purchase every 2 or 3 years, you will never have the luxury of paying off the loan.

Whether you lease or buy, you can't look at getting a new car as a sound financial investment--either way, you'll lose money. With a lease, you eventually have to give the car back. From a strictly financial point of view, buying a new car isn't a great investment either. Most cars go down in value during the 4 or 5 years you finance it.

Answer 3

Very tough question. It can be a good deal, but the devil is in the details. Getting a good lease is harder than getting a good deal on buying a car, as there are many ways you can get blind sided if you don't completely read and understand all the terms of the lease. How many miles do you get? (it's never unlimited). What are the overage fees? At best, it is renting, not owning, and you are stuck with the car for the term, no matter what. 90% of the time, it's better to buy. But I can't be sure without seeing all the details. I you're a young driver, a decent used car is almost allways the best choice. If it's cheap enough, you can avoid collision insurance and save a bundle. At some point, you're going to have to pay for the car yourself, including the insurance, and you might realize it isn't worth driving a brand new car with your own money.

Answer 4

This depends on you. You can get a new car every few years with little pay out. But you need top line insurance to protect the BANK or Lease company at your expense. You can not change any thing on the car with out their permission. When you turn it in there can be a surcharge if you go over the mileage, there is a ding, or glass cracked YOU WILL HAVE TO PAY FOR IT EXTRA! You will also need to maintain the same guilty triers on the vehicle. And you will get nothing back when you turn it in either. All that you pay in to the lease is gone: you own nothing on the car.

Answer 5

Depends on the milage you put on each year. I wouldn't recommend going over 36 months. It also depends on how often you like to trade vehicles. Negative equity happens if you trade to fast with a conventional buy. A lease guarantees your Future value of the vehicle. Say its a $20,000 dollar vehicle. It will be worth around 12,000 in two years. All you make the payments on is the 8,000 dollar difference. But remember, payments are close to the same cause its only 24-36 month term as to a 60-72-84 month term on a conventional buy.

Answer 6

I would say it depends on you, some people always want the new and best thing, others don't like car payments. However leasing it seems to me like there are alot of hidden cost (ie going out miles, not able to customize it, etc) For me i would rather buy a car.

Answer 7

it depends on several things. I for one lease because i always trade my new car in every 3 years.

Answer 8

It depends on whether you want to trade it back in for a new car every two years or not. And you have to keep a watch on the mileage. If you go over, you pay.

Answer 9

Only if you need it for a limited time. Otherwise, you just pay money for something you never get to keep.

If you're living somewhere for 3 months to a year, lease. If longer, buy.

Answer 10

no its the worst thing!!

Your best bet is to get a smart loan from your bank and pay the bank back with extra EXTRA low interest!!