Lease vs Buy a Car
Auto — Honest comparison to help you decide
Leasing
- ✓ Lower monthly payments
- ✓ Drive newer cars every 3 years
- ✓ Lower repair costs (under warranty)
- ✓ No trade-in hassle
- ✓ Tax benefits for business use
VS
Buying
- ✓ Own the car outright after payoff
- ✓ No mileage restrictions
- ✓ Cheaper long-term (keep 7+ years)
- ✓ Modify freely
- ✓ No gap insurance needed
The Verdict
Keep cars 7+ years: buying wins by $10,000-30,000. Love new cars every 3 years: leasing is convenient but always more expensive long-term.