Leasing versus purchasing a car?

Question

I want to know if I should lease or buy a new car. Leasing they want 3700 from my 6500 value trade in down then 320 for 24 month 15000 miles per year, I would get 2800 back from deal and buying is the whole trade valued at 6500 with no money down at 383 for 60 months or 333 for 72 month help what should I do?

Answer 1

You need to run your numbers through a calculator that will tell you which is the better deal. Leasing always gives you lower payments but it's not always the best choice. Here's a calculator that might help:

http://www.leaseguide.com/leasevsbuy.htm

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Answer 2

never lease when you can buy. leasing is for business use.

Answer 3

Leasing if you drive less then 20k per year is only way to go.  You save so much money as you get more interest in bank then a highly depreciating car.  If you finance you do not own car and if you lease you do not own car.  Both you can trade in and both can be sold or paid off early.  Only people who no nothing aboutleasing will tell you "but you do not own car".  If you finance and payoff at term you will have wasted approximently 33% of your cash with dpreciation and such while if you lease and get a new car every 3 years you will not be in an inequitable position while if youfinance and trade in 3 years and take out 5 year loan whichis most popular by far and even if 4 you will either have to come up with big down payment or payoff and wait. If people would take time to learn about leasing it is NOT renting and would change most minds.  People though like complaining whether they are right or wrong or do not even know.  It does not matter to me as a car saleman which you choose but from 18 years in business I can only suggest and let you make up your mind after if you want it explained better.

Answer 4

Leasing is just LONG TERM RENT.  You do NOT own the car, but you are fully responsible for the car.  Not only that you are UNDER your contract and you cannot even sell it nor return it early without huge penalties.  Lease AGREEMENTS are very restrictive.  

Ex1:  Let's say you move from California to NYC and you no longer need the car, you are still stuck.

Ex2:  You move from California to Texas.  When the lease is up, you have to RETURN the car to california (and find a way back home).

Ex3: you get fired and you cannot afford the lease.  You are stuck.

Ex4: you get married and you don't need the car.  You are stuck.

Ex5: You change jobs and you are putting on too many miles (more than the allowed), you are stuck.

Ex6: You change jobs and you don't use the car much, you are really not getting all what you paid for.  You are still stuck paying the monthly.

etc.

You get the BEST value, by buying the car and holding and squeezing every penny's worth out of the car (drive it for decade).

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When you buy, you get some of your money back when you sell it.  That is not figured in to your calculations above.

Good Luck...