Car Leasing?

Question

I am thinking about leasing a car for a few years does anyone know if it is worth it and if not why????

Answer 1

It's amazing how little people understand leasing. To EVERYBODY (including the dealer) but the bank it's exactly the same as you buying / financing the car outright. You're basically just agreeing to give the part of the car back that you haven't used after the lease is over. You're only buying and paying interest on "half" of a car. This is basically the same as buying a car and trading it in every 2-4 years like most people do anyway. Only you don't have to worry about the trade-in value of the car changing, you'll have a new car every few years, and you'll usually have the car when it's under warranty and needs less maintenance. Trust me, if you keep a modern car for 10 years like the people on here are saying, you're going to be paying WAY more than a lease would cost in repairs alone. I'm glad those people exist, though... otherwise who would the bank sell my sloppy seconds too?

Answer 2

Depends on your definition of "worth it". There are definitely cheaper ways of obtaining a car (namely, buying a used car or buying a new car and keeping it for as long as possible). But if you really want to trade your car in every 3 years and are OK with a having a perpetual monthly car payment, then you're the only one who can decide whether it's worth it or not.

Personally, I would not lease a car. Spending more money than you need to on a car is not a good way to build wealth. Although leasing may look good in the short term (lower payments than buying), in the long run you'd be much better off buying a car outright and driving it as long as it remains safe and functional (which for modern cars can easily be 10+ years). Not a very glamorous answer, but there you have it.

Answer 3

Leasing is a great way to get a brand new car, one monthly payment no depreciation or hassle, and when you start to get bored of the car its time to hand it back and change for another new one.
Leasing is by far the cheapest way to get a car, i recently purchased a new Honda civic type R gt on an 18 month lease deal and it costs me 229 a month plus the VAT some of which i can claim back through my business, if this car was on finance it would cost more like £500 a month and it would be losing value.

Answer 4

Leasing is a good option if you are one to "just have to get" a new car every 2-3 yrs. When you buy a new car and make payments your trade in value is usually less than what you owe for at least 3 yrs if not more. When leasing you need to read the fine print ESPECIALLY the MILEAGE LIMITS!!! Most are 15,000 per year but some go as low as 12,000. If you go over your mileage allowance per year it's very, very, very co$tly. Good luck.

Answer 5

Financially your best bet is to buy a car you like (even if it's a bit expencive), and drive it until it is no longer drivable, with perferablly at least 10 years under its belt and a couple hundred thousand miles.

Leasing basically means you're going to pay a lot of money, and you'll get a car to drive for 3 years.

Answer 6

It all depends theres always a good side and a bad side of things. The bad side you wont own the car but the good news is you wont be stuck with some 5yr old car,(if it was new when u bought it) and have to worry about selling it and not getting what you paid for it. But whagt the hell do i know.