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Leasing or Buying a car??

Is it better to buy or lease in this situation. Explain in Details please. Leasing a car for 9 years or Buying a car for 9 years. Assume that the cost of the car is $25,000. Your down payment is $5000. Also every 3 years in lease car you can get a new car. The maintence cost is $500 a year. Which deal is better in the end?

Public Comments

1. No matter what the situation it's always better to buy a car rather than lease it. You'll never own the car leasing it! It's like paying rent instead of a mortgage - you never get anything in the end.
2. you can call me directly if you wish I have sold cars for years and have been in the automotive service and finance for years as well. 513-746-6421 if you wish to discuss
3. Leasing is only good for people who want a new car every 3 years, baby their cars, and don't put a lot of miles on their cars. The advantages to leasing are: (1) Your car is under warranty for the full term of the lease, so anything that is not a result of abuse or normal wear and tear is covered, and (2) It costs less than buying a new car every 3 years. The downsides revolve around exceeding the mileage limits and any damage done to the car. Most car companies charge at least 25 cents a mile for every mile you go over your limit, and that can add up quickly. And when you turn your car in they expect it to be in near-new condition, so they'll nickel and dime you for scratches, dents, stains/rips/tears in the upholstery, etc. Can't answer your question without knowing your personal preference. If you're looking at total cost, you're probably better off buying a new car and keeping it for nine years if you take good care of it. At the end you'll have a car that belongs to you and should still run well, as opposed to a lease where you would own nothing at the end.
4. WHEN YOU LEASE A VEHICLE YOU WILL GET HAMMERED BY THE DEALER AT THE END FOR MILEAGE, WEAR AND TEAR, LACK OF MAINTENANCE IF REQUIRED AND JUST ABOUT ANYTHING ELSE THAT THEY CAN THINK. I WOULD SAY THAT 85% OF PEOPLE THAT LEASE VEHICLES WILL TELL YOU THAT THEY WILL NEVER DO THIS AGAIN.
5. First you wouldn't be able to get a loan or lease for 9 yrs. Secondly, most people don't keep their cars for 9 years, but if you do you are better off buying. At least you would have some equity when it's paid off. You would still have to pay for any mechanical problems on either after warranty expires, so why put it into something you won't own in the end?