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Read about the pros and cons of car ownership and leasing before you decide whether to buy or lease a car.
Lease vs own car. Published february 8. Open this photo in gallery. Whats the better option. Consumer reports examines the basic differences.
Leasing is more like renting as you never own the car and turn it over at the end of the lease. There are real costs that come along with a car. Car buyers have two financing options when it comes time to purchase a new car. There isnt a clear cut answer each scenario has its own set of pros and cons.
We say that the decision to lease or buy usually comes down to your lifestyle and how you prefer to pay for things. Why you should almost never lease a car advertiser disclosure this articlepost contains references to products or services from one or more of our advertisers or partners. Review more pros and cons of leasing vs. Leasing often results in lower monthly payments because you are not building any equity.
Is it smarter to buy or lease a car. Lease or buy a car. When you own a car however theres a good chance youll have it longer than the warranty term. Once your lease period ends you have the option of returning the.
Most new car warranties are long enough to cover the length of the majority of new car leases. Maintenance insurance taxes down payments and monthly payments all add to the cars total cost which exceeds the dealers asking pricelets look at the real costs of a leased car and a. When you lease a vehicle youre basically renting it from the dealer for a certain length of timethats usually 36 or 48 months. Special to the globe and mail.
If you finance a car the lender holds a lien against your car until you pay it off in full or when you own it. Published february 8 2011 updated may 12 2018. When deciding to lease or buy a new car from a purely financial perspective you should look at the cost of driving the car over a period of several years.
