Overhaulin'

lease or buy car? HELP :(?

im going to college pretty soon and i only have a part time job but i think its enough for me to do monthly payment for car. i got really confuse should i buy a car or should i lease one??

Public Comments

1. Dave Ramsey or most any financial advisor will tell you not to rent your cars. Your payment inclused the rapid depreciation of the new car.
2. leasing a car is like paying rent on an apartment, instead of buying a house. you have a lower monthly payment and usually a small or no down payment but at the end of the lease you "own" nothing. you'd be better off buying a used car that you could sell or trade in if and when your ready for something else. for $4,000 look for 98 Acura CL, 98 Ford Mustang V6, 98 Honda Accord or Civic, 98 Nissan Frontier or Pathfinder, 98 Subaru Impreza or Legacy, 98 -00 Toyota Corolla or Echo 00 these are all reliable and will last longer than other cars in this price range. for around $6k an Acura Integra 98-99 is a great car.
3. buy the car. dont pay for something your not ging to keep. besides if you lease you have to watch your miles. just buy it. youll feel better about yourself.
4. You need very good credit and a steady source of income to lease a car. A part-time job isn't going to cut it. A part-time job probably won't allow you to get a loan either...unless you have a co-signer. Don't be a fool and rack up a huge debt before you go off to school. Be smart and get a reasonable-priced used car like a Honda or Toyota. They will last a long time and require little maintenance. You'll find being in college is more expensive than you think.