Overhaulin'

End of lease v. buy option?

I have never leased before and I currently lease a 2006 Ford Focus Wagon. I thought leasing was going to be the cheapest alternative for me, but I have noticed that the maintenance checks are getting rather costly in addition to the monthly lease cost. At the end of the lease, what is the best alternative - buy the car or continue to lease another vehicle? Does one end up paying way up the wazoo when buying a vehicle at the end of a lease?

Public Comments

1. Typically the lease residual is higher than the value of the car. You would have had maintenance whther you bought or lease. Look at the residual when the lease is up. If it is more than the value of the car, just walk away. If the car is worth more than the residual, you may want to go ahead and purchase it.
2. A lease is the worst way in the known world to purchase a car unless it is out of necessity, the whole point of it is to allow you the opportunity to shop for your lease or purchase replacement to the car you currently drive assuming you are not 50k over the mileage allowance, then by all means buy the Focus.