Overhaulin'

Is going from a Car Lease to a Buy actually more expensive and a waste of money?

Does one end up paying more for a car when you lease it and then go to a buy later? Lets say you lease a car at $20,000. Lease it for 3 years and then go to a buy. After the car is paid off, is the finaly cost beyond $20,000 plus the interested of course. Is it better to just buy the car if you can afford it? Or leasing it would be a dumb move if you could afford it?

Public Comments

1. Cash is king and just buy it if you can. Lease is just a long term rent. You can't even customize the car (new radio,etc.) I just paid for my car complete and since then I never looked back. Even if you buy it on loan it is still better than lease. Think of it this way - you make monthly payments. When the lease is up, you return it and you have no car. If this was a loan payment, you may have paid little bit more (or not), but now you have car and no more payments until few years down the line when the car is run down. The only time lease makes sense (kind of) is in a business situation where leasing can be written off. Good Luck... P.S. Also look at the fine prints, often there's crap load of charges you pay when you return (like $2000 for prep fee, etc.).