Pro’s and Con’s of Leasing vs. Buying

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Leasing a car and buying a car will both put you in the driver’s seat, but with different financial implications.

You will usually pay an initial amount to drive your new vehicle off the lot to cover a range of taxes and fees. Then, you will make monthly payments over the life of the lease to cover the costs of depreciation of the vehicle. There are typically restrictions on the number of miles you can drive the car during the lease term, and you have to return the vehicle to the dealer in excellent condition to avoid extra fees.

August 11, 2020
Bankrate

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