Lease or buy auto calculator will tell you if you should lease or buy auto taking into account the monthly payments and the total payment
- + You have lower monthly payments with a low — or no — down payment.
- + You can drive a better car for less money.
- + You have lower repair costs because you are under the vehicle's included factory warranty.
- + You can more easily transition to a new car every two or three years.
- + You don't have trade-in hassles at the end of the lease.
- + You pay less sales tax.
- - You don't own the car at the end of the lease (although there is always the option to buy).
- - Your mileage is typically limited to 12,000 miles a year (you can purchase extra).
- - You may find lease contracts confusing and filled with unfamiliar terminology.
- - You'll pay more in the long run for a leased car than you will if you buy a car and keep it for years.
- - You could face excessive wear-and-tear charges. These can be a nasty surprise at the end of the lease.
- - You will find it costly to terminate a lease early if your driving needs change.
- + You can modify your car as you please.
- + You'll save money over the long term if you buy a car.
- + You can drive as much as you like. There's no excess mileage penalty.
- + You have more flexibility since you can sell the car whenever you want.
- + You can use the car as a trade-in on the next car you buy.
- - You have to pay a higher down payment to avoid being upside down in the loan (owing more than the car is worth).
- - Your monthly car payments are higher than lease payments.
- - You're responsible for repair costs once the warranty expires.
- - You face possible trade-in or selling hassles when you decide to get your next car.
- - You'll have more of your cash tied up in a car, which depreciates in value.
Read full article: https://www.edmunds.com/car-leasing/should-you-lease-or-buy-your-car.html
Also visit: https://www.cars.com/articles/should-you-buy-or-lease-your-next-new-car-1420681150102