Here are just a few (certainly not all) of the pro and cons of leasing a vehicle just to get you thinking about the differences in the two types of automobile financing.
You Should Consider Leasing A Car If:
- You like the comfort and amenities of driving a new car every two to three years.
- You like to drive a higher end vehicle with the lowest possible monthly payments.
- You like the option of not having to put a great deal of money down on the car.
- You like having your car always under warranty.
- You dislike having to go through all the vehicle trade-in hassles.
- You don’t like tying up money in a depreciating asset.
- Because of all the above is important to you; you don’t mind always having a monthly car payment.
You Should Not Consider Leasing A Car If:
- You typically drive your cars for many years. At least a few past the final payment
- You drive more than 15,000 per year miles on average.
- You typically drive your cars for many years. At least a few past the final payment.
- You subject your cars to rough driving conditions or don’t like to keep them well maintained.
- You typically buy ‘fad’ cars or ‘disposable’ cars that don’t hold their resale value.
- You prefer to eventually own your car outright.
- You know in the big picture, purchasing is less expensive than leasing.
