Should you buy or lease? Here's a comparative analysis so that you can decide what's right for you.


Ownership: You own the car once paid in full

Up-front cost: Cash price or down payment plus taxes, registration and other fees

Monthly payments: Loan payments have interest and other finance charges, which can be higher than lease payments

Early termination: You can sell or trade your car any time you want to

Vehicle return: If you want a new car, you'll have to consider selling or trading your current car in

Future value: Your car's cash value will decrease over time

Mileage: You're free to drive however many miles you choose

Excessive wear & tear: Wear and tear will depreciate the value, but you won't be charged for it

End of term: You have no more payments at the end of the loan term

Customizing: You can customize/model your car however you want


Ownership: At lease maturity you have the option to turn it in, buy it or sell it.

Up-front costs: First month's payment & taxes, registration, and other fees, plus refundable security deposit

Monthly payments: Lease payments tend to be lower than loan payments

Early termination: Early-termination charges can be exceedingly expensive if you end the lease early

Vehicle return: Just return the car at the end of your lease and pay end-of-lease costs

Future value: The car's future value doesn't financially affect you

Mileage: Most leases limit you to 12,000 - 15,000 miles a year

Excessive wear & tear: You're responsible for excessive wear & tear and can be charged extra

End of term: You'll have to purchase the car or lease or buy another at the end of your lease

Customizing: You'll have to remove anything you added to the car before you return it

Interested in buying or leasing a new car?

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