Will You Buy or Lease Your Next Car

My wife and I have had many cars over the years and we have financed them in different ways. When you are in the market for a car you will be bombarded with a lot of different options on how you will own it. Will you buy the car and take advantage of some great low interest financing from the car companies or will you lease it and not worry about the car because you know you will be turning it back in within a couple of years. I have gone both routes several times and I have to say that each has their advantages and disadvantages. At this particular time in my life my wife and I both own our own cars, but our last cars were leased. Here are few things you will need to look at to help you to make your decision.
1. How much do you drive - Leased vehicles have mileage caps on them. The last ones that we had were about 17,500 miles per year which may seem like a lot but they really go by fast. After the miles are over you start paying a healthy per mile fee for every mile you drive over which can really get expensive quickly. Even just driving around town, if you do it often, can add up to that many miles and if you throw in a long road trip of two this can put you over in a heartbeat. If you drive less than this on a consistent basis then leasing a vehicle may be something you should look into.
2. How much do you love cars - My wife has a love for cars, she always likes to see the newest models and the way that they look. I m not as interested in cars. I like to be comfortable when I drive but it s not that big of a deal to me to have the newest vehicle, I tend to get comfortable in a car and not to want to let that one go for a newer model. If you like changing cars every couple of years then leasing would be a great option for you. It lets you get in the newest cars and keeps you interested in what you are driving.
3. Financing Options - Both bought and leased vehicles have their ups and downs when you are talking about financing. The one thing that you do not want to do is to get sucked into a great ad that the dealership has put out promising you the moon and when you get to the dealership you find out that all of the extras that you would want on the car put you well over your spending limit. The little things can really add up so go in with a looking attitude and not a buying attitude, the deal will still be there in the morning.
These are just a few tips to help you to make your car buying decision. Just remember to take your time and sleep on it if you need to so that you don t get stuck with something you are unhappy about for a long time.
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