A car lease might be best if:
- You prefer to drive a new car or truck every two or three years
- You want to drive a vehicle that you can afford to lease, but cannot afford to buy
- You don't put more than 12,000 to 15,000 miles on your vehicle each year
- You don't use the vehicle in a way that causes excess wear and tear
- You can't or don't want to make a large downpayment
- You use the vehicle for business purposes and can write-off your lease expenses (ask a tax professional for advice)
Buying might be best if:
- You plan to pay off the vehicle, keep it and avoid loan payments for awhile
- You don't mind paying for repairs after the warranty period has passed
- You put significantly more than 15,000 miles a year on a vehicle
- You have credit issues--it's sometimes easier for people with credit problems to buy than to lease
- You might want to trade it in for another vehicle in less than two years
- You want to customize the vehicle
Still not sure? Use a comparison calculator to run the numbers to help determine which option makes best financial sense for you.
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