Should I Lease or Should I Buy my Next Car?

Should I lease or should I buy my next car? They always make leasing sound so easy and much cheaper than buying. Many new automobile owners ask this simple question: should I lease my vehicle or should I purchase my vehicle? There is no easy answer to this question.  Many things are taken into consideration, and you should do what fits your life. Many drivers are very happy leasing vehicles and have done so several times over.  Leasing really caught on 2001-2003.

Leasing and buying are two different methods of auto finance for a car. Leasing auto finances the use of a vehicle and buying finances the purchase of a car. There are pros and cons to each.

Is having a new auto every 3-4 years without major repair worries more important than long term cost? Or is the savings you receive from purchasing long term, more important? Would you rather own your auto or have minimum upfront costs and no down payment? Is it more critical to own your auto and have no car payments for a while, although you have higher monthly payments for the first few years?

There are several distinctive differences in buying vs. leasing. Purchased cars are paying for the entire cost of the car. Leasing is paying only for a portion of the cost of the car. When you lease you pay only for the portion of the total cost that you used during your leasing period.


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