Which is better leasing or buying a car?
On One Hand: Buying–You Own the CarBuying a car means that you own it when the car loan is paid off. You can pay it off early, trade it in or sell it on your own if you’d like something new. You will be affected by current market conditions for the value of your car in the future. It might depreciate fast or retain its value depending on the market. Also, because you own the vehicle, you may transfer ownership after it’s paid off.On the Other: Leasing–You Do Not Own the CarWhen leasing a vehicle, you do not own the car. You must return the vehicle at a predetermined time, usually in 24, 36, 48 or 60 months. Also, you will be subject to mileage restrictions and have the option of 10,000 to 20,000 miles a year. There is no reason to pay more toward a lease payment, as not only will you be returning it, but you might suffer financial consequence in the event of a total loss. You will not get your money back in this case. You are also subject to financial penalty at the time of turn in f
