lease or used car whats the better option?

Answer 1

A lease is like a long-term rent. If you want to keep putting money down on a car that you may never own, then leasing is a great idea. Some programs allow you to lease-to-own, if you like.

Basically, leasing is best for people who like to switch cars often, so you don't have to worry about putting so much money down and taking all the time to pay off a car before you can switch. If I understand correctly, a lease is also less legally binding. That is not to say that you could stop paying and get to keep the car, but that you could give it back more easily if you don't like it.

However, on the other hand, the insurance for a leased vehicle is often far more expensive.

Also, leasing a vehicle does not help you build any assets or any equity. You don't own the car, so the money you're spending is just going away and away.

All in all-- you're better off buying.

Answer 2

For a private individual, leasing is a lousy deal.

You build no equity in the vehicle, and if you put more miles on the vehicle than the lease provides, you have to cough up cash for the mileage. Additionally, most leases require you to have higher insurance limits to cover the company's liability.

If you can't find a new car that you can afford, wait until the new models come out in three or four months. Then prices on 2007 models will drop and they will drop again at the end of the year. So, if your current ride is still usable, be patient and save money for a downpayment.

Otherwise, shop around for a good used car. You can generally find a used vehicle with under 20,000 miles for about half the cost of the car new.

The secret to getting a good deal on a car is to decide what you want to pay, and if they seller won't meet that price (which you never state in advance) walk away from the dealership. Com back in a week or so and if the car is still there, they might be ready to deal, if not walk away again. Keep this up until someone else buys the car or they sell it at your price. You might miss out on a car or two that way, but at least when you buy, it will be at your price.

Good Luck.

Doc

Answer 3

you guys are funny answering this guys question,
Leases are a very good deal to the person who uses it right!!
Make sure you do not drive a lot and make sure you are not going to extend your commute any time soon, or in 3-4 years
Now what would you rather do, pay for 72 months on a brand new car and in six years have a piece of junk sitting in your driveway that you hate even looking at because the neighbor has a better looking one, that is safer and more dependable, or have a new car every 3 years pay the same car note and always have a warranty. If you plan on keeping your car for a very long time go with the financing.
An incredible amount of people are trading their cars in only after 1 year and loosing tens of thousands of dollars because they just want "THE NEW ONE"
with a lease you will not be upside down and barried in a car
WWW.SUNRISECHEVY.COM
MIDLOTHIAN
GABRIEL

Answer 4

It depends on what you plan to do with the car. Do you plan to get a new car every three years and will you have the down payment each time? OR will you run the sucker until it drops? I lease because I can write some of it off as a business expense and don't want to own a depreciating asset. I would rather save the extra cash for myself and use the warranty that is always in effect on a leased car to deal with issues. Buy if you will run it out... Lease if you always want a new car and will save the balance.

Answer 5

I would go with the used car. With a lease, at the end, you have nothing to show for all those payments.

Answer 6

Used. I pay to own.