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Leasing vs. buying


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ok guys, my car is currently on its last leg and i was wondering if anyone could tell me the pro's vs. the cons of leasing vs. buying a car. i am not sure if i want to finance to buy or just lease a better car, i know that if you lease a car you can't drive past a certain mileage (at least i think) or they start charging you more for it. i am not sure how the repairs would work out or whatnot, i am just exploring my options, thanks in advance

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lease vs buy

 

I personally would never lease a car. Leasing does have its ups...cheaper monthly payments...and having a new car every couple years...but then u put out ALL this money and NEVER end up OWNING anything. I like the the feeling of ownership.

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I agree with Lisha. All owning does is tags on a little more on your monthly bill and you actually get to have it.

 

Leasing in my opinion is just convenient for a little while but you're not really having anything to show for years and years of dishing out money.

 

Purchase!

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thanks for the article lisha, i am in the process right now of trying to find something reliable and smaller with more gas mileage then what i have now. i do like the idea of leasing then buying at the end though, it just sounds more appealing, and i will get a chance to find something else if i don't want that car anymore instead of trying to sell it

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lease vs buy

 

I personally would never lease a car. Leasing does have its ups...cheaper monthly payments...and having a new car every couple years...but then u put out ALL this money and NEVER end up OWNING anything. I like the the feeling of ownership.

 

Either way, you're losing money. Even when purchasing a new car, right when you drive off that lot the value depreciates thousands of dollars you'll never see again. I'd understand having ownership of a house or something that's vaue would appreciate over time but not over a vehicle which you will lose money throughout time.

 

Look at this this way, If you want to have a new car which you believe will last you years, purchase a vehicle. The other option is if you enjoy a new ride every couple of years then lease and not deal with resale and you can just go back to the dealership and trade it in for something else and keep payments.

 

If you do lease, there is a certain amount of mileage you have to keep under or else they charge you 10 or 20 cents a mile which adds up. Also they'll stick you with the wear of tires, that's a big thing you need to watch out for when leasing a car.

 

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thanks for the advice, i am thinking overall that i am going to buy a car from my mechanic who fixes them up. that way i avoid fee charges and mark-up on the car and everything else, plus if something goes wrong with it he will fix it. that may be the best option for me right now

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