what is better to do..buy or lease a new car?

15

Asked by Dec 22, 2011 at 03:01 PM

Question type: Shopping & Pricing

3 Answers

185

buy in the long run...lease you will lose in the long run. short run maybe leasing is a better option but really you might be better off buying used 1-3 year old car

1 out of 1 people think this is helpful.
5

Well when you have to pay personal property tax on a lease why noy just purchase the car.It all works out depreciation and the lease!I like to own the vehicle that I drive,JMO!

905

That depends on your needs. If you drive a lot and/or like to get a new car every 3 years or so, it's perfect and saves people tons of money over their lives. Leasing typically can save you about $150 a month in payment, so if you buy and then trade it in in 3 years, and get the payoff amount for trade in (hopefully), you're out $150 a month times the lease term because you decided to own. Nothing is yours until it's paid off and most people who buy and trade every 3 years, are not in my opinion savvy consumers. Leasing also mitigates your risk of depreciation loss, and you always have a buy-out option and can compare than the current used car prices to see if buying your lease is a good thing, if you love the car and then want to keep it.

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