Leasing vs buying a car?

Question

Which one is better? I know it's a silly question to put on a pregnancy app but oh well. I'm a new mom and my car is pooping out on me. I'd rather just get a new car and make payments on it. But I would prefer the payments be on the lower side! How can I get the payments down a bit and which one would be better to do buy or lease? Thank you for your advice!

Answer

Leasing is a great option if you meet certain criteria. It is definitely an easy way to get lower monthly payments. Personally I own one car and I have one I lease. The nice thing about the leased car is it is always under warranty. When the lease is up you trade it in and get a new car to lease that is under warranty. Whereas once you buy it an warranty is up you are responsible for payments for things. If you decide you love your leased car you can always have the option of refinancing it and buying it after your leasing period is over. So essentially you can pay less per month and then still buy it if you choose and the payments then would be less because the car would cost you less. If you can drive under the set number of miles you agree to (you can pay to add extra miles to your leasing agreement) and take decent care of the inside it is a great deal to lease and always have a new well maintained car....but you'll always have a payment. Whereas a purchased car you can pay off and not have monthly payments at some point. Really depends on your use of the car and things.

Answer

Buying is more financially reasonable. I dont know of any real pluses to leasing.

Answer

My husband sells cars and really wants me to lease my next one. The reason, we trade in our cars every three years so we will ALWAYS have a car payment anyways, and leasing allows me to get a new car with lower payments, when your lease time is up you just take it in and get a new lease. If you are one to keep a car long enough to pay it off then I would recommend buying, but you will for sure have higher payments.  A problem with leasing is when it's time to turn it in and you've driven over the aloud miles you will be required to pay and if there is damage you will charged for that as well.

Answer

With kids I'd always buy. If you lease and they make a mess of the car (which they will. My kids have never had food or anything but water in the car, and somehow my back seat always looks like a war zone just from dirt and rocks and kid crud off of shoes) you're going to be paying for that damage. Not to mention if they manage to scratch it somehow. Toddlers are reckless. And with a leased car, you have to be so careful ahoy how many miles you drive it.

Answer

It depends on your budget, if you want a lower monthly go for lease. If you plan on buying the car anyway regardless, go for lease cause when the lease is up you can still buy it based from how much you originally get it. But if you don't wanna deal with all that trouble and have enough downpayment, buy the car right away. Saves you from interest ☺️

Answer

We have one on lease and the other we bought. The lease is a 2015 hyndai Elantra and the payment on it is pretty low considering how new it is. The other car is an suv and we bought it cause it's gonna be our family car but the payments are a little higher than what I'd like. The only thing with leasing is that you have to be careful how many miles you drive cause if you go over the contract you have to pay extra at the end. I like the idea of a lease cause the payments are lower and when your contract is up you can buy it out or go with a new car and lease

Answer

Same situation over here. Have decided to use my car I own as a trade in and lease. My car is not kid friendly. Will be leasing a beautiful SUV and the payments will be nice and low. When lease is up will decide if I want to buy or upgrade

Answer

I got the lease to own option on my car BC it was the first year jeep came out with the smaller jeep Cherokee and I wanted to try it out before I bought it . I love it so we're keeping it and once it hits it's 5 year mark we'll be getting a bigger one and my husband will keep the jeep for work . When I was single leasing was a better option for me BC I couldn't keep up with the repairs/maintenance,but now that I'm married and my husband takes care of all of that I think owning is a better option.

Answer

If you can spend the cash on a down payment, purchasing is better in the long run! If you keep up with maintenance you'll be able to trade it in down the road or sell it, with a lease you have to come up with a bunch of cash again when you need something new.

Answer

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Leasing vs buying a car?

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