Buy vs Lease

* What recommendation does the calculator make for you?

* The first recommendation was for me to lease my next vehicle because I chose not to make a down payment or trade in a vehicle. The Auto Calculator suggested a lease option because it does not give a person room to make no standard down payment nor does a person have to have a trade-in. One will have lower monthly payments than a financed loan. Also the lease option gives many the choices to return the car and the end of the term. This would work for people who do not like to keep the same car for long periods of time.

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

* Yes. When I saw what the recommendation was for the lease I decided that it would be better to come up with a standard down payment. This way I can just go ahead and finance the loan rather than leasing. For myself, leasing a vehicle will more than likely cost me more than to finance. Since I tend to drive a lot each year that means at the end of my term I would owe for excess mileage. That is the only reason I would change my mind about leasing a vehicle. However I do like the fact that a person does not have to keep the car or come up with a standard down payment and can still get a lowered monthly note each month.

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

* The next time I decide to purchase a vehicle I will follow the recommendations given by the Auto Calculator because it showed me the difference between leasing and buying a vehicle. One of the major recommendations was for me to buy instead of lease because I use an excessive amount of mileage each year. Leasing usually limits the mileage use to 15,000 per year. If I were to go over the limit I would be penalized for excess mileage. I put anywhere from 20,000 to 25,000 miles per year on my car. The Auto Calculator also advised...