Overhaulin'

is it better to buy or lease a car/vehicle?

Hi there, is it better to lease or buy a car? what are the pros and cons? Also, if someone can't keep up with the lease agreement, is it a huge penalty? Thaks I won't be driving much. I was told that once the lease end, i can actually buy the car at that point based on the current value.

Public Comments

1. If you plan to keep the car for several years or put high miles on it, buy the car.... if you are one who gets a new car every 4 years, lease but you do have a limited amount of miles. (this is assuming you will be making payments)
2. Buy, it is better in the long run.
3. Don't lease, unless you plan on wanting to keep switching cars every 4 years or so. I prefer to buy the car, and later on re-sale. Example: $400/month * 48 months = $19,200 + (Mandatory)Full coverage insurance coverage.