Leasing and Buying a Car Tips:
If you look forward to having no more car payments, buying a car is the better option. At the end of your loan term, you will own your car outright.
If you enjoy having a new car regularly or expect the needs of your family to change in the short term, leasing is a good option.
You might heed the advice of the billionaire J. Paul Getty who revealed one of his secrets for accumulating wealth when he said, "If something appreciates, you buy it. If it depreciates, lease it." A car starts depreciating the moment you drive it off the lot.
Car leasing carries high penalties if you terminate your lease early. If you think your circumstance might change, it's better to buy because then you can sell the car when you need to.
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