Overhaulin'

Do you think it is smarter to lease or buy a car?

I make decent money (about 45k a year). I heard leasing a car can get you pretty nice and otherwise expensive cars for cheap. Even though you dont keep them after a few years, overall, is leasing a car cheaper than purchasing a car if i want to drive a nice vehicle and dont care if i have to return it?

Public Comments

1. If you don't drive much like less than 12,000 a year then it's not a bad idea. But you have to calculate the numbers. A lot of times it's even, but most people do it because the monthly payment is less compare to loan payment.
2. If you think about it you're just technically renting the vehicle, I'd go with lease because you can lease a vehicle for 2-3 years and new models always come out so you're going to want another car so you can always switch through them, hope this helps.
3. i see it this way, if you lease or rent a car, that is money that you have no chance of ever seeing again. whereas, if you buy that same car and drive it for a long time, until the car will run no longer, then you got your moneys worth.
4. I would not recommend leasing. Look at Consumer Reports and other finance websites. Most do not recommend leasing either. You spend more in the long run because of insurance and continually having a car payment. The lease contract typically has a lot of stipulations that really hurt consumers.
5. Buying vs. leasing: What you need to know. Don't know whether buying or leasing is right for you? Consider the following differences between buying and leasing before you make your decision. Buying gives you: •Complete ownership. The vehicle is titled to your name. •No restraints on mileage limits or normal wear. Keep in mind that proper maintenance may affect your warranty coverage. A vehicle's condition can also affect the residual or trade–in value. •A vehicle that's yours to sell or trade in at any time for another GM vehicle. You have the option to pay off your contract, or sell and trade your vehicle, at any time. Leasing gives you: •A chance to drive a new GM car, truck or van more often. Lease terms can be shorter than purchase terms with similar monthly payments. •Low monthly payments. Monthly lease payments are often lower than traditional financing. •No resale or trade–in headaches. I hope this helps with your decision. Good luck with your purchase. Tricia, GM Customer Service.