Lease or buy a car?
For younger people(25-30), do you think buying a car is better, or leasing one? Your thoughts please
- fuzzyLv 61 month ago
Leasing is a tax write off thing for businesses. You buy outright & the price of the car is deducted over a number of years. Leasing you can claim the full amount each year (& have outlayed less up front)
- 1 month ago
Leases are generally a F except if you drive low miles, and pick the right one.
A good lease comes with maintenance schedules included since they want the car back in nice condition.
Picking a good car is the trick, when Toyota Priuses were new you couldn't loose after 4 years because the demand was so high.
However a Chevy Celebrity after 4 years you couldn't leave the keys in it in a Walmart parking lot and hope it would be gone, the thieves didn't even want it.
- Christin KLv 71 month ago
Leases are fine for people who don't want to keep a car more than a year or two before they trade it in on a new one. They're also better for people who buy new cars, rather than used ones. Leases are NOT good for anyone who wants to keep a car more than a couple years, or buys a late-model used car. They can be expensive and risky. You damage the car, you'll pay more to have it fixed when your lease is up than you would if you owned it. And there are mileage restrictions usually--when you go over the limit, you're charged a lot of money.
I think it's always better to buy a late-model used car, keep it until it's paid off, THEN if you need something newer, bigger or in better condition, buy another one. Especially if you're younger.
- JensenLv 51 month ago
IMO, a brand new car is always a bad deal, I'd recommend you to go with a slightly used one. This way you could do it a lot cheaper.
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- Anonymous1 month ago
Depends on what you mean by "better". It's certainly WAY more expensive.
A brand new car is a bad deal but it cannot hold a candle to leasing.
- AlCaponeLv 71 month ago
Leasing works very well for some people -- people who know what they are doing, understand how leases work, want and can afford a brand new car every 3-4 years, and drive only about 10,000-12,000 miles a year.
Common sense says that leasing (or buying) an expensive brand new car every 3-4 years is more expensive in the long term than buying a good used car and driving it for many years. Furthermore, young people generally drive too many miles for leasing to be practical.
Short answer: Buy a car, don't lease.
- Donnie PorkoLv 71 month ago
Buy. Leasing is for suckers. You’re limited by how many miles you can drive and once you go over the limit, you’ll be paying anywhere from 5¢ to 25¢ over the limit per mile. That adds up quickly.
- regeruggedLv 71 month ago
Leasing is the most expensive way to acquire a vehicle. And you get locked in for three years. Thousands of people are trying to get out of leases. See www.swapalease.com and www.leasetrader.com. When buying you can choose to buy new or used. No one leases already used cars.
- jimanddottaylorLv 71 month ago
There might be some business people who can write off all automotive expenses that should lease, but for everyone else, it is most often way better to buy. Especially if you are buying a 2-3 year old lease return. The leaser takes the financial hit, and your get the bargain.
- BarryLv 61 month ago
Buy one that is two years old with full service history. Test drive it and haggle hard to reduce the price. Walk away if necessary as there are millions of cars to choose from.