Leasing vs. Financing

Leasing vs. Purchasing....Which is Better?

Deciding between the two is more of a lifestyle question than a financial one. In a nutshell:

Leasing tends to benefit people who:

• Regularly get a new vehicle
• Drive less miles
• Prefer not to worry about any major mechanical repairs(Most leased vehicles are covered by the manufacturer's warranty for the term of the lease)
• Want a lower monthly payment

Purchasing tends to benefit people who:

• Keep their vehicle for a long time
• Drive a lot of miles
• Have a larger down payment or a trade
• Looking to build equity