Leasing is a perfectly viable and legitimate way to finance a new car. Although leasing offers attractive benefits, it is more complex than buying with a loan. This means that there may be difficulties if the decision to lease is made for the wrong reasons.
Therefore, a comparison of leasing compared to buying is always a useful exercise when considering automobile financing. One option is generally much better than the other in a given situation.
Let us firstlook at the financial part of the analysis.
Leasing always translate into reduced monthly payments of a traditional car loan, assuming the same vehicle, pay the same, the same rate of interest, and the same term. The lease payments will increase to 60% less than loan payments. Therefore, if no reasons account the monthly payments are more important, the rent is a good financial option (although there may be others in the lease - see below).
However, in the long term leaseactually more expensive than the assumption that the buyer keeps his car for a long time after the loan has been paid. It does not take a genius to realize that to hire a new car every two or three years costs more than buying a car and hold it until it collapses. So, if long-term cost is their top priority, then leasing is not for you.
Although he has a sense of financial leasing for you, there may be reasons not to go to work for you.
If you drivethan about 15,000 miles per year, leasing is not a good choice for you. The reason is that leasing is designed for people who typically drive only half mile and pay for the entire value of a vehicle. You pay only for the relatively small vehicle, which actually use.
Leasing can be a good choice, even though they usually do not maintain their vehicles and carry only the minimum insurance, or to modify their car, or if you preferconcept of property.
Also, if he anticipates that the changes in life (marriage, divorce, change of jobs) that might cause you want to end your lease before its normal expiration date, no lease. Leases are designed in a way that makes it so difficult and costly to end soon.
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