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Granted, purchasing a vehicle is the worst investment anyone can make. It depreciates so fast (usually one-third its value just driving it off the new car lot) that many people are soon upside down on their car loans, owing more than it's worth.
A leased car can only be driven "x" amount of miles during the duration of the lease. Excess miles are charged a horrific rate per mile. In some cases, for a 3 year lease, I've seen some people who just store their car in the garage for a whole year, because they are within 50 miles of the lease mileage limit, and a full year to go on the lease agreement. So what's the use of leasing, then.
The advantage to leasing is being able to walk away from the car after the lease expires.
There is the "pride of ownership" in buying a car outright, and one doesn't have to worry about being penalized for driving too many miles. What we have done in recent years is rent a car for vacations - put those excessive miles on something we don't own - and save those extended miles from our own vehicles, keeping them newer and in better condition as well as keeping their resale value higher with lower mileage.
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∙ 15y ago
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Is it more cost effective to lease or buy a new car?
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.
Should you buy or lease a hybrid vehicle?
Never ever lease. Leasing is a horrible deal. Buy a one year old Certified Used car. You save money and get a better warranty than a new vehicle.Never ever lease. Leasing is a horrible deal. Buy a one year old Certified Used car. You save money and get a better warranty than a new vehicle.
Is it better to buy or lease a car?
Hi. My name is Daniel I'm a car sales man in the Auto Mall, i really think its better to lease if you like to change cars every 2-3 years and get into new ones. BUT i would also have to say buy, if your looking to own the vehicle for a long time... beware---- if your credit doesn't allow you to lease. a loan will not be such a bad decision, however you could always trade out in 2 years for a new car.... IMO, it is better to buy a 1 or 2 year old used car with low mileage. Get a certified used car if possible. Some Certified used cars have a better warranty than a new car. Let someone else eat the depreciation, not you. I would never, ever, lease a vehicle.
What is inexpensive best new car to buy or lease considering failure of American car industries?
The 2009 Ford Pinto.
What are opinions on whether it is better to buy a new car or a used car?
New car bvecause its brand spankin new
Where can someone lease a new car?
One can lease a new car at a variety of car dealerships, depending on your location. To find a dealership near one's location, that leases new vehicles, go online to Cars, Edmunds, Lease Car, and Kiplinger.
Would it be better to buy or lease a truck for my new business?
In my opinion it is always better to buy instead of lease. Most leases last from three to five years and if you finance the vehicle instead you could pay it off in the same amount of time and own it outright.
Is it better to give up a car lease in Canada or just bring the car down and keep it?
Leasing a car is almost always a bad deal for the lessee. Great for the dealer but not for the consumer. Unless you can get a great deal on this car, give it up and buy a 1-2 year old low mileage Certified Used car. In most instances you get a better than new warranty, and save thousands over a new car.
What if you bought a car that still has a lease?
When a car is leased at the end of the lease is a residual. This is the difference between what the car cost new and what was paid in the lease. Did you buy the car from the person who leased the car? Did they pay off the lease with the money you paid them? If not, there is a problem. A car with a lease is NOT owned by the person who leased it so that means the bank owns the car and has the pink slip. You have to get the pink slip from the bank. Actually, the person who sold you the car may have illegally sold the car. It would be like someone renting a house and then selling it. Check with the bank that holds the pink slip.
When leasing a new car if husbands name is only on the lease is the wife owner also?
When you lease a car, you do not own it. A lease is basically a long term rental agreement. If your name is not on the registration, you have no legal attachment to the car.
To Buy Or To Lease A Car?
There are some people who do not have the means to buy a new car. One way they can get a car that is new or like new is by leasing a car. Most car dealers offer the option to lease a car so that they can sell a car instead of having it sit on their car lot. Leasing a car is almost the same as buying one, but there are some differences.When you buy a car, you are making a commitment for a certain period of time to make the payment each month and if you miss that payment, you may be forced to return the car to the dealer. If you lease a car, you will have the option to continue your lease after one or two years, or you can let the car go back to the dealer and either get something that is more affordable or find a car at another dealer. A leased car is based on most of the same credit issues and payments as a new car, but you are not as involve in the length of time.Other issues with a leased car versus a new car are what are covered under the warranty of the vehicle. Most new cars have longer warranties that extend for about five years in some cases. On leased cars, you might not get a warranty and anything that goes wrong with the car would be your responsibility. On the other hand, some car dealers will offer a short warranty for about six months in order to sell the car. Dealers are offering many options to customers today so they can sell vehicles, and that includes offering a lease option when they had not originally wanted to lease the car. If the dealer is desperate enough to get cars off their lot, you may be able to talk them into letting you lease the car instead of buying it, saving you money in the long run.
What is good new car or used car?
If you have good amount of money to buy "New Car" then buy new car, but if you are on a tight budget and want to be practical then buy "used car".In my opinion, I would buy new car!In my opinion the best buy is a 1 year old Certified Used car with very low mileage. You same lots of money, get as good and sometimes better warranty than even new, and still have a car that is practically new. All in all that is a great deal.
