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ADVANTAGES OF LEASING
1. The monthly payment is always lower than when you buy the same car. Also, in many cases you don’t even have to pay any down payment to get the car.
2. A short term lease lets you get a new car every couple of years and you can usually get a more expensive car than you could if you were buying it instead of leasing it.
3. Before the car gets worn out and needs repairs, your lease is up and you may have avoided repair bills.
4. There is no hassle with a trade-in at the end of the lease.
DISADVANTAGES OF LEASING
1. You may all those payments and at the end of the lease you have nothing to show for it because you don’t own the car.
2. If the lease is longer than the car’s warranty, you may have to pay for repairs at the same time you are making payments.
3. In the long run, leasing is more expensive.
4. It’s costly to get out of a lease. Early termination of a lease will likely result in very substantial charges that you have to pay.
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