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asked about Buy Car

over 3 years ago

How is leasing different from a conventional purchase?

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1 Answer

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Vivienne

Buy: More money up front, pay off auto loan (which eliminates a month cost), Freedom to sell or trade whenever, usually cost less than leasing over time, yours to sell , total or drive, car's value depreciates as soon as you drive off.

Lease: Cost less up front and each month, if you always lease you'll make a car payment for life, lease contract is difficult and expensive to break, get tax break if you use the car for business purpose, able to upgrade to newest model every couple of years, owe fees for exceeding annual mileage limits or any damage to car.

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over 3 years ago