Overhaulin'

Lesing a car vs. Buying a car?

I am a junior in High school and I might be getting a car. I will only have the car until I graduate High school. When I go to college the chances of me keeping the car is minimal. SO if I were to get a car, should I buy it or lease it. I was also wondering when a car is leased, if i can get free checkups and repairs.

Public Comments

1. Buy one. Haggle it down and you might be able to sell it for a profit. Go for a car that is in demand, so you get a good return and can sell it quickly. Make sure it doesn't need work doing on it so you just pay for tax, mot, insurance etc.
2. First, don't lease for two reasons. One, you don't understand it and it's easy to make mistakes. Two, leasing is not good for teens, who change their minds quickly and don't complete leases, which is very expensive. Second, BMW is the only new-car brand that provides free maintenance, whether you lease or buy. Your best bet is to simply save enough money for a "starter" car and trade your way up as your finances and credit improves.
3. Your parents can lease a new car for you. You are not of legal age for binding contracts. You do not want to lease a used car. A lease can have service built into it. This is an ideal situation for leasing. In 2-3 years you will not be faced with being upside down. Be sure to follow the lease terms such as mileage restrictions & any damage.
4. I wouldn't lease if I were you. Its not a great idea at all. I just answered another one of your questions and as I said in that one, I'd suggest saving a bit of money to get a nice cheap beater car. Those are always best first cars. Especially if you only need it to last another year and a half, find something cheap that will do the trick till then. Good luck!! =)