Terry, Pittsburgh

To lease or buy is a very personal decision that will depend on what you want out of a car. One isn’t better than the other by itself. We have many articles and resources at Cars.com that will help you make the right call.

On your question: There are advantages and disadvantages of both, but most people still buy a car rather than lease.

With financing or buying, you eventually won’t have to make payments and the car is yours. Leasing works well if you really enjoy a new car every few years and also want the latest model with the image and technology associated with new cars. With leasing, you typically give the car back before the warranty expires and — unlike buying — don’t have to worry about expensive repairs and the resale or trade-in value of the car when you’re ready for a new one. In some cases – when used for business purposes, for example — you can use the car as a tax write-off.

The downside is that you don’t actually own the car when the lease is over, although you commonly have the option of buying the car. The convenience of getting a new car every couple years definitely has its price – a very measurable price summed up by all of those payments. See the resources below for more information on the topic.

Learn more:

Answered by Joe Bruzek on January 8, 2008 in What Car Should I Buy? , What Does This Mean? | Permalink

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