To buy or to lease?

      And, when you turn the car in at the end of the lease you may be responsible for wear and tear or excessive mileage charges. You might want to take this in to consideration if you are chauffeuring kids to and from muddy soccer practices.

      Weigh the Difference

      Leasing Advantages
      No or low down payment
      Lower monthly payments
      Manufacturer's warranty usually covers lease term
      Buying Advantages
      Pride of ownership
      No mileage limitations
      Monthly payments have an end
      Flexibility to change cars when you want
      You build equity over time

      Leasing Disadvantages
      No end to monthly payments
      Wear-and-tear charges
      Mileage limitations
      You do not build equityBuying Disadvantages
      Higher down payment and monthly payment
      Repair costs once warranty expires

      If getting a new car every few years is important to you, leasing may be something to consider, however, be careful and pay attention to the realities of leasing. You don't want to be surprised when your lease expires.

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