Do you lease it or do you buy it? That is probably the most popular question I get asked over and over again. Buying a car is never an easy process no matter what you decide, but in this podcast I run through the pros vs. cons of leasing it or buying it.
To be honest with you, I’m not a fan of leasing. Sure, you get a new car every 3 years, and who doesn’t like the smell of a new car? However, you never actually are gaining any equity, instead you are making payment after payment.
If you run over on miles, you’ve got to pay more when you turn in the car. Don’t even get me started on wear and tear, or minor dents in the car. You guessed it, you will owe more money. There’s nothing like having to pay more money simply to turn in your car.
I know, many people love leasing. If it works for you, and you have a justifiable reason, then be my guest. From a financial prospective, I just don’t see a lot of value in leasing.
Don’t forget about negotiation too. No matter if you lease it or buy it, you are going to need to brush up on those negotiation skills. I always feel like I’ve had a tough workout after I leave a dealership.
Have you had a good leasing experience? Let me know your thoughts at firstname.lastname@example.org