Buting vs Seling

BUYING VS. LEASE SCENARIO

Did the recommendation change the way you previously thought about buying vs. leasing a car?

Yes it changed the way I looked at leasing a new car. The payments can be anywhere from 120.00 a month to 300.00 a month depending on what type of car it is. If it is a newer car we are looking at higher interest rates over a two year point. If it is a used car the payments per month maybe a little bit lower. I personally bought my new car out right so I would not have a monthly payment staring me in the face every month. This way I do not have a worry about paying on time, getting my car reposed for late payment or nonpayment. With buying a car you can keep it as long as you want to but if you lease a car the lease expires around two to four years. Therefore, leasing is not a good idea for people who like to keep their cars for many years. By knowing this I made the right decision by just buying my new car.

Do you think you will follow the recommendations made by the calculator? Explain why or why not

No I will not be following the recommendations made by the calculator because; I like to buy my cars flat out without a high payment and interest rate every month. When I make a large purchase such as a car I like to keep it for a long time. With leasing I would have to have it paid off in two years or they would come back and take it and the money I paid them I wouldn’t get it back. One of my closet friends leased a car form a dealership and she had two payments left when the lease was up and they took her car because she missed one of the payments. I personal think that leasing is a waste of time and it is too stressful to have that large bill every month.