Lease or buy
If you want to save money then buying is always the better option
With leasing, you’re paying interest after interest
You might get your car repossess and you might lose your down payment
You can change plan with leasing but interest is there
It’s not nice to pay interest
What happens if you crash your car?
You have to be responsible for it, your insurance has to pay for it
You will have to drive it and pay the interest still
Buying
You save more money
Less hassle, less headache
It’s your, you can do anything that you want with it
No repose
No interest
You can sell it anytime
With a lease, you might not be able to sell it
You can take your car anywhere you like
When you lease, you have to inform the company where you’re taking your car to
Interest
Interest can be high depending on your credit
You will be paying interest each month
You will be paying for years
Is it really worth it
Considering that you can buy a pretty new car for under $10k, so why would you pay $40k plus interest for a car that will sit in the parking lot most of the time anyway
I would save that money for a home, college, or kids college
Leasing a $50k car might not be the best finance move if you crash it a week afterward and I have seen friends who crashed their new car a week afterward
Saving
I’ve seen students who drives brand new car but they don’t even have a good job
Not done with college
But paying interest on lease every single month
Working hard to pay their car bills
They should make their college a priority and save money for college instead of working hard to pay for interest on a car that will go old in a couple of years anyway
Then you’re back at square one anyway
Leasing is expensive
Leasing is expensive and not ideal for college student or people with a lot of debt like mortgage, credit card debt already
Not really ideal for people that have a regular jobs with tons of other bills
You should buy one at an affordable price and save the headache of worrying about repose, because if you miss too many payments, they will take the car back
You could lose all of your down payment