GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.

These brands compensate us to advertise their products in ads across our site.

This compensation may impact how and where products appear on this site.

Couple is buying/lease new car and signing the contract.

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.

it’s possible for you to read more about oureditorial guidelinesand our products and servicesreview methodology.

This is particularly true when it comes to deciding whether you should lease or buy.

facebook sharing button

Here are some examples of when that might be true.

This includes your down payment.

Youll have to document that you use your vehicle for business purposes.

twitter sharing button

But at that point, you could roll right into another lease and start driving another brand new car.

This coincides with the typical lease duration.

If you want to use a car thats always under this warranty coverage, leasing can make sense.

linkedin sharing button

Leasing allows you to avoid that scenario entirely.

That can amount to thousands of dollars per year in savings although you wont be building any equity.

Theres a huge difference between leasing and buying a vehicle.

email sharing button

While leasing offers smaller monthly payments, it typically comes with mileage limitations and penalties and end-of-lease wear-and-tear costs.

Youll also end up with no equity in the vehicle.

Be sure to analyze both sides of the equation before you make your decision.

More From GOBankingRates

Share This Article:

The Latest inSaving Money