Buy the car
No. Leasing is for suckers. A lease is no more than renting a vehicle with nothing to show for it at the end. Stay away from a lease. Buy what you can afford, and forget the lease.
It is more effective to buy. If you lease, then you will be paying for the car for a number of years, but will be obligated to either buy the car or get a new one, but all money paid into the lease will be lost. When buying, you have documented ownership.
Buy or Lease? Should you lease or buy your car? Use this calculator to find out! We calculate your monthly payments and your total net cost. By comparing these amounts, you can determine which is the better value for you.
That depends entirely on your situation.
A car lease can be thought of as a long-term car rental. If you choose to lease rather than buy, you will not own the car. You will simply be leasing it for a predetermined period of time. When you lease a car, you are not leasing it from the car dealer itself. You instead lease it from a leasing company, who in effect buys the car and rents it to you in exchange for your monthly payments. This leasing company can be the financial arm of large automakers (such as GM Finance or BMW Finance) or may be an independent leasing company of the dealer's choice. The dealer generally acts as an agent on behalf of the leasing company in negotiating the terms of the car lease. The most common type of car lease is called a "Closed End Lease". In this type of lease, you and the dealer agree on the length of time and interest rate at which you will lease the car, and also on the final value of the car at the end of lease (called the "residual value" of the car). When your lease is over, you can either turn your keys in or you can exercise the option to buy the car at the pre-agreed residual value. It should be worth noting, that an open-ended lease is practically unheard of these days. Any legitimate car dealer should be offering a closed-end lease.
A balloon payment refers to the last payement you make on a car that you got as a long term lease. At the end of the lease you can either make a balloon payment and buy the car, or you return the car.
Read your lease. it should addrewss what will happen if you turn it in before the lease is up. Likely you WILL have to pay.
If you give the car back to the car dealership before your lease has expired, then the lease is over. You stop paying the monthly payments. This is very common in people who want a low monthly payment, thus they get a long car lease and then end up trading back in the car for a new car before the lease has expired.
That would depend on the credit worthness of the person wanting to lease. It is a separate transaction just as if you wanted to buy a second car.
No a lease is just a long term rental, it is owned by co he got it from but you can buy from them sometimes
A car lease is an individuals person lease for their car. A commercial car lease is the lease for a commercial vehicle which are used for businesses.