Finance Guide Center

Leasing or Buying?

Iam a Senior in high School. Plan on getting a car. but the thing is, I want a car for only 2 years wich is for my college years. and after that I want to buy a baller car . So do you think buying a car and paying it off in 2 years is better or leasing a car for two years is better. and if i do lease is there a difference in price between buying and leasing?

Public Comments

1. Its better to buy and leasing you can get stuck in contracts...UGH! Just buy and take care of...maybe before you sell add some nice things like tires rims ect anything to make the car look good so you can get your money back out of it and then you will have a down payment for the new one
2. Great question......there are many variables that I dont know in order to answer properly like how many miles will you be driving do you intend to put any money down if you buy instead of lease are you going to go to a pre owned car that doesnt carry a warranty. I have been selling cars for 17 years and these are just a few of the facts needed to help you decide what is best for you. The best advice I can give is to take your parents along maybe they already have someone they deal with on a regular basis.As far as price being different from the lease and by there is none you will want to negotiate your best deal whichever way yo decide to finance your car. Remember that the only difference between the lease and buy is he way you are finacing your purchase. But a bit of advice leases can be tricky they always dictate how many miles you can drive and if you go over there is a charge. And dont forget there is a condition report at lease end. Of course there are some benifits to leasing you are only paying for the depreciation on the car and you really will have three options at the end Turn the car in and just walk away buy the car out for the predetermined end of term value or residual or use it as a trade if the market is bringing more than the residual value.Also keep in mind credit requirments are often more strict on leases and leases normally require a higher level of insurance and thats a big factor I have had alot of customers like yourself be able to afford the car easy enough but insurance payment ends up being higher than the car payment..Anyway good luck in your car shopping and feel free to contact me if you have further questions
3. 80% OF ALL PEOPLE THAT LEASE A VEHICLE WILL GET HAMMERED BY THE DEALER AT THE END. EITHER WITH THE MILEAGE, WEAR AND TEAR ON THE EXTERIOR AND THE INTERIOR AND THE LACK OF MAINTAINCE THAT YOU DID NOT DO ON THE VEHICLE.
4. You can even take over a lease who has 2 years left. Check this site: www.leasebusters.com