why lease a car vs buy?
Is it better to buy or lease a car?
On the surface, leasing can be more appealing than buying. Monthly payments are usually lower because you're not paying back any principal. Instead, you're just borrowing and repaying the difference between the car's value when new and the car's residual—its expected value when the lease ends—plus finance charges. Jan 9, 2021
Full answer in: www.consumerreports.org
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Is leasing a car a waste of money?
Buying and leasing both have a monthly payment. Even if you pay cash, buying a car has a payment which can be broken down into an effective monthly payment. No, leasing is not a waste of money. ... Even if you pay cash, buying a car has a payment which can be broken down into an effective monthly payment.
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What are the pros and cons of leasing a car vs buying?
|Lower drive-off-the-lot fees (potentially no down payment)||Potential for extra fees (early termination, mile overages and a range of other unexpected costs in the fine print)|
|Ability to drive the latest model||Additional insurance coverage is necessary|
Full answer in: www.bankrate.com
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Why Leasing a car is a bad idea?
The major drawback of leasing is that you don't acquire any equity in the vehicle. It's a bit like renting an apartment. You make monthly payments but have no ownership claim to the property once the lease expires. In this case, it means you can't sell the car or trade it in to reduce the cost of your next vehicle. Feb 29, 2020
Full answer in: www.investopedia.com
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