Overhaulin'

Lease vs Buying a new car. Which one is better?

Public Comments

1. Leasing is like renting but the plus is you can just lease a brand new model every year. With owning your stuck with the same ride but its yours.
2. Depends on two things- 1) How long will you keep the car? 2) What kind of payment are you putting down? There are two situations where buying a brand new car makes sense- the first is that you have money to throw away and you want the latest and greatest of everything. The second is that you intend to keep the car for at least 6-7 years and resale won't be a factor for you. A Lease lets you pay far less for your use of the car while you have it but at the end of your three years at 250 per month, you have nothing- you have to give the car back. If you buy the car, you own your chunk of the car. In a short timeframe (under 4 years), you will probably have more debt in the car than you have paid off so if you only want the car for a few years, lease is where it's at. You walk away with nothing but if you buy the car, you may be saddled with debt and thus walk away owing a large amount of money. If you're going to keep it forever (or at least 6 years) then buying a new one may have some merit but from a strictly financial sense, buying a new car is almost never a wise decision. Find one 2-3 years old, well maintained, and you get 95% of the car for 60% of the money. None of this means anything if you're looking at very expensive (over 70 grand) cars.
3. Leasing is the most expensive.
4. according to cars. for example, if i want bmw, i will buy used car because it is strong. and for example, if i want honda, i will buy new car because it is not very much strong.
5. There are two major differences between buying and leasing a car, and you have to ask yourself, "How long am I going to keep this car?" Leasing is entirely short-term. You make monthly payments towards renting the car for a fixed amount of time (to be determined at your signing), and when the time is up, you have the choice of actually buying the car or returning it for a different one. This is good if you plan to keep a new car for 2 or 3 years and then trade it in for another new car. Ultimately, if you like variety, leasing a car is what you want to go with. Buying is in the long run of things. If you plan to keep this car for a long while (easily 6 or 7 years) without selling it, then you'll want to go with this. You won't lose as much money than if you leased a car for 6 years, and if you own the title after your loan has been paid off (assuming you had a loan to begin with) then you can sell the car and walk away with the money. Of course, that will only be a small fraction of what you paid for the car when you take into consideration the time that has passed and the depreciation of price as a result of the time. All in all, if you want to keep a car for a short while (couple years), go with leasing. If you plan to keep this car for an extended period of time (several years), go with buying.