BUY VS LEASE SCENARIO
* What recommendation does the calculator make for you?
Here's why: Financing the purchase of a vehicle generally requires a down payment in the form of cash or a trade-in. In contrast, with leasing a down payment is usually not required (but is offered as an optional way of reducing the interest rate on the lease). Since you said that you have no down payment in the form of cash or a trade-in, it seems clear to us that leasing is the best option for you. Read more: Car Lease Calculator Lease or Buy New Car Auto provided by Bankrate.com http://www.bankrate.com/calculators/auto/buy-or-lease-calculator.aspx#ixzz1JZ1zKVUt I don’t think there is a right or wrong answer. There are many advantages to leasing a car instead of buying one, including lower monthly payments and a shorter commitment period and a newer car style every couple years. However, advantages from buying a car instead of leasing one, you make monthly payments on a four to six year commitment (based on your credit). After paying off your loan you become owner of the car, instead of making changes every two or three years. * Did the recommendation change the way you previously thought about buying vs. leasing a car? Kinds of, Here’s why: I can picture see myself making lower monthly payments and a shorter commitment and driving a new car every few years. How cool is that? However, the reality is, I am a mom and I can’t be throwing money away. I think committing myself to a 5 years contract and making my monthly payments will benefit along the way. Because instead of, changing cars every two to three that car will become mine with no more payments. * Do you think you will follow the recommendations made by the calculator? Explain why or why not. No, like I mention on previous answer, I think it’s a waste of money. I rather commit to a five or six year contact VS leasing a car. I would hate to change cars every two or three years and try not to over exceed...
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