which is better to do buy or lease a car.i know leasing is cheaper than buying outright but is it better ?

Question

i commute 70 miles roundtrip per day to work .its pretty far

Answer 1

Leasing may have a lower cost per month but its not necessarily cheaper. Leasing is often much more expensive in the long run, especially for the private individual. Leasing is usually best for businesses that can accurately predict the mileage on their fleet and don't want to bother with the bookkeeping hassle of maintaining the records required to keep track of actual costs.

With a 70 mile daily commute you'll put over 17,500 miles on the car just commuting. Most leases only allow up to 15,000 miles per year. You'll pay anwhere from 15 - 30 cents per mile for the excess mileage at lease end. If your lease allowed 12,000 miles (very typical) and charged 25 cents per excess mile you could easily owe well over $4,000 at lease termination on a 3-year lease.

The ads that quote low prices are usually limited to 10,000 miles or even less, so don't be swayed by them!

Answer 2

Depends on how much you drive. Do you use the car for work? Do you have a long commute every day? The problem with leasing is you don't get any equity, you never see a title. For some people who rack up a lot of miles, leasing just makes more sense.

Answer 3

depends on whether you can comfortably afford to lease. with a lease you never have to worry about the depreciation after you take the car off the lot. what you use the vehicle for figures into it to.if you go over the mileage restrictions you pay for it at the end of your lease.

just a few points.

Answer 4

Leasing a car does not feel like you have "real" ownership. Sure payments are not as high as owning a car. Some ppl like leasing cars every two yrs.... Not me....

Answer 5

I would think leasing is cheaper and better cause when you decide its got to much wear and tear you can always change it out...