My husband wants to lease a new car. We've always bought cars before and now that we have two small children I don't think leasing is a good idea for us. I know we won't put the milage on the Car/SUV but the kids will probably spill in it. What are the pros and cons of leasing?
Consumer Reports Magazine has a lot to say about the pros and cons of leasing vs. buying. Their advice may help you make a decision that's right for your family or at least give you some proof to back up your argument so you and your husband can compromise.
We leased cars two times back to back. I was completely against leasing, but my husband did it anyway. We went over the mileage the first time and came pretty close the second time. When the end of the lease finally came up, we bought a car......but we had nothing to trade in. I feel all that money was wasted over the years. The reason for leasing was that if anything happened to the car, all we had to do was bring it in, but we still paid for a lot of stuff to keep the car in shape.
please DO NOT lease. We leased two cars a few years ago and when we saw what we would owe at the end and the the cars were not going to be worth it at all we ended up turing them back in and going through chapter 13. Now we are paying for cars we do not have, our credit is ruined and life will never ber the same again. Please do not lease!!!!!!
We leased a mini van 8 years ago; it was the worst thing we could have done! We thought we would NEVER eat up all the miles; we were over; we quit driving it for 2 months to avoid going over, and finally went to a car dealership to purchase a new vehicle and BUY our way out of the lease, rolling the pay off costs into our new car - what a MESS! I think that pay off of the lease is still rolled into my current car payment 2 cars later...NEVER AGAIN!
Find out first what the cost is for miles over lease allowance. If you put excessive miles on a car in a year then you will know ahead of time. ASK,ASK, ASK any questions about fees and lease vs. purchase and write the answers down. My husband is disabled and cannot do auto work so we leased. However we had one bad LEMON which was stressful but the company finally took care of it. Just be careful and research. We own our auto now and it works for us. Good Luck.
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