How to Decide between a lease versus buy a Car

If you are trying to decide whether to lease versus buying a car read this article. This article will give you some guidelines and help you decide if you should lease or buy a car.

Difficulty: Easy

Instructions

1. If you do not have a lot of money up front, consider getting a lease.
   
   Often times leases have lower payments than new car payments after the purchase. However at the end of the term you do not own the car you leased you do not own your car. Consider both of these options when trying to decide whether to lease versus buy a car.

2. Figure out how much mileage you drive per year. If you drive a lot, consider buying a car versus leasing a car. Most car leases have a mileage limit and penalties if you exceed the mileage limit.

3. If you are looking to drive a better car or newer car every few years for reasons like aesthetics or fuel economy, leasing a car is an option to consider versus buying a car.
   
   Instead of having a car that becomes older and outdated, it's easier to stay up to date with newer cars after each lease.

4. If you are unsure how long you need the car for (less than the lease terms), consider the penalties for breaking a lease. Purchasing a car or having your own vehicle will allow you to sell the car any time you want versus leasing a car you do not have to deal with trade in or selling the car at the end of your car lease term