Overhaulin'

I am thinking of buying or leasing a car. Which option is better?

I am in the market for a car. Frankly I do not know if a lease is for me. I do have to visit clients then and now, so it will be used mainly for work purposes. I need a clear answer on the advantages and disadvantages of a lease vs buying.

Public Comments

1. If you anticipate putting a lot of miles on a car, buy it. Leasing options have mile restrictions and anything over you pay excess. If you have really good credit, and are not putting much miles on the car, and like to change cars every 2 years or so, lease it.
2. if you're using it for work, then definitely buy the vehicle...with leases, you are only allowed to do specific mileage per year...buying is always better...less restrictions
3. Your better off buying cause then you know that it's yours . If you lease then your paying to borrow someones elses car, and then you only get it for so long.
4. Leasing cars is not a good idea. It is very expensive to lease. You have to pay for all repairs the same as you do if buying. If the vehicle should get scratched or dented you will have to pay for those too. If your mileage is over the allowed limit you will pay extra. Then when the lease is over you are given the option of buying the car at a very large price. The bottom line is - Leasing: very expensive, end up with nothing except perhaps a large bill. Buying: You end up with a car without having to pay extra that you can keep or sell or trade in at your option.
5. About leasing a car,I don't really know alot about that,But i do know, if i want a car for business of just for around town,I want to be the owner of the car....If you use your car for business, you can write it off on your income taxes.... Clowmy
6. buy, when you lease the company that finance's you will require you to do xtra thing to maintain your car. Am not sure if it works the same in every state but in cali that's a requirement. I was so glad when i finally drop my car that i lease and when to buy my own.
7. There are advatages and disadvantages to both. A lease is a good option IF you want lower monthly payments, always like to drive a newer car, drive less than or average miles in a year, don't plan on keeping the car. A lease is a bad idea if you drive high miles, if you put alot of wear and tear on a car, or if you plan on keeping the car. Also depending on your tax laws, lease payments can often be a write off. When you lease a car, you are essentially buying a portion of the car, so there will be a residual payment due at the end of the lease if you chose to keep the car. If you don't want to keep the car, then you must either lease again or buy. If you decide to keep the car, and have to finance the residual, then you whould have been better of just buying in the first place.
8. The term is "Fleecing a car"..... it's not a good idea to lease a car. The mileage restrictions are a stressor and at the end of the lease, you buy the car anyway or give it up.