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Do you lease a car? Why if you do, is it better than owning.

I feel it best wen the money is in the pocket immediately, and not buried into the cost of the car that won't get a good return, and the quality of the car at sell time will be poor, unless I sell it every 2 yrs. not leasing.
Leasing is an improvement and a less taxing /budget friendly way , not as much monthly payment. What a relief for leasing by choice.

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Asked by Anonymous at 12:51 PM on Sep. 10, 2010 in Money & Work

Answers (5)
  • Both have pros and cons. Leasing is often cheaper.

    Answer by science_spot at 12:52 PM on Sep. 10, 2010

  • I have done both.... I guess I would compare it to renting a home- you pay money towards it every month, but it's never really yours.

    Answer by skittles1108 at 12:55 PM on Sep. 10, 2010

  • If you're only thinking short term than yeah leasing is cheaper. But if you're thinking long term then buying a car outright is how you save money and build wealth. Having a car payment or a lease for life costs you tens of thousands of dollars. Not only that, but if you had invested the money instead you could have easily become a millionaire by the time you retire.

    In the words of Dave Ramsey, "Hope you like the car!"

    Answer by Erica_Smerica at 4:42 PM on Sep. 10, 2010

  • When leasing you are essentially 'renting' a car. You are dumping money into something that will never be yours, unless you decide to buy out the lease. We did it once and yes the payments were lower than if we bought the car, but the mileage started to be a problem. What I really recommend is buying a car and paying cash for a used car that is two or three years old, that way it's already lost the bulk of it's value and any problems mechanically have already shown up and been repaired.

    Answer by slw123 at 7:26 PM on Sep. 10, 2010

  • We lease because we get bored easily and always want a new car every three or so years

    Answer by TALuke at 11:27 AM on Sep. 15, 2010

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