Overhaulin'

Should I buy a car or lease one? What are the advantages and disadvantages of each?

I've had my 1999 Chrysler Sebring for 3 years now, but I need a car with more room because I'm in college and travel a great deal. The question is, should I buy the car or lease it for a few years? I'm hoping to buy another car once I sell my car, and I estimate it to rake in at least $8,000. If my parents don't help me out with some more cash than that, what should I do? HELP!

Public Comments

1. Whatever you do......don't lease a car. If you go over a certain mileage that's stipulated in your lease, you'll have to pay out of pocket for it. This happened to one of my best friends and he was in his late teens. Not fun. If you can, buy. Leasing a car still puts the ball in the dealership's court. Too much hassle.
2. Buying a car would be a better option as it is all yours but when you lease it then it is with you as someone elses property. And if you are in short of money and no help try approaching some bank for loan.
3. The only advantage lease have over buying is a lower monthly payment, otherwise everthing else about leasing is bad news
4. did you pull 8k out of the air? The Chrysler is not known for high resale value. Lots of potential probs w/ the tranny at 60 k miles ..... A lease works by you paying on the depreciation over a length of time. to lease a car you need very good credit . You will pay per mile if you go over miles (unless you buy more miles ) . Any flaw , ding, dent, scratch you will pay for when you return the car. and unless you put down money you will be Upside down for the length of the lease ..... good luck ... email me w/ q's about buying a car