|
Re: Lease or Buy?????
It really depends on your individual situation. There are both pros and cons to leasing or buying a vehicle.
Pros of leasing:
1) You can get a new vehicle in as little as 2 years to every 4 years.
2) Lower monthly payments.
3) You can drive a nicer car than you normally would have been able to afford if you bought it.(Goes with #2)
4) You pay the sales tax over the life of the lease.
Cons of leasing:
1) Also requires a downpayment just as if you were buying the vehicle.
2) Extra fees. ( mileage costs if you go over the stated mileage,security deposit, etc.)
3)You don't technically own the vehicle, the leasing company does.
Pros of buying a vehicle:
1) You own the vehicle.
2)No "over the mileage " charges, you can put as many miles on the vehicle as you want without penalty.
3)If you intend to keep the vehicle a long time and can get favorable financing, the overall costs may be cheaper.
Cons of buying a vehicle:
1) Unlike a lease, you can't "walk away " from a car you've purchased at the end of the term
2) You are buying an asset that will depreciate.
3) If you find out you really dislike the vehicle you've bought, it might be harder to get out of owning it,( trading it in , you may lose money.)
These are just a few of the pros and cons. There are certainly more. Like I said previously, it boils down to each individual's circumstances. Do some research and know the facts before making an informed decision.
__________________
Thought for the Day… Alcohol does not make you fat - It makes you lean... against tables, chairs, floors, walls and ugly people.
If a prostitute here in America loses her job to a prostitute in India , is that considered "outwhoring"??-Jay Leno
|