Car buyers today are always looking to save money, and if you’ve purchased a car in the past decade or so you know that monthly payments can have huge differences when comparing leasing vs. financing.
In general, leasing is the most affordable from a monthly payment perspective; however, buyers who plan to buy the car after the lease would likely be better off financing traditionally. This is due to the fact that your vehicle has to change hands from one financing company to another, and there are fees involved in the initial purchase and the subsequent purchase of the leased vehicle.
With good credit, you can secure low financing and have more say on the selling price of the vehicle when you decide to finance traditionally. While you may be tempted by lower monthly payments, that doesn’t mean you’re necessarily getting the best deal overall.
Finally, should you need to sell your leased vehicle for any reason, you may also be hit with extra fees or have a higher payoff than you might otherwise have when financing traditionally.
Leasing is a great option for buyers who want to take the stress out of car ownership and have a fresh car waiting every 2 or 3 years, so ask yourself if you want to save money or have less worries. Like most things in life, that’s often the choice it comes down to.
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