Finance 1st Year

Based on the information that I input into the calculator, it is recommended that I purchase my next vehicle and not lease. I like to keep my vehicles for as long as possible to make sure that I have truly made use of every dollar that I invest into the vehicle purchase price. The calculator made the recommendation that I purchase a vehicle based on this fact. According to the calculator, since I like to keep my vehicles for an extended period of time, and I keep them well maintained, a lease would not be a good option for me because most leases last from two to four years and most vehicles’ do not offer a lease renewal. The calculator only confirmed my previous view of what I like to do when it comes to acquiring a new vehicle, I like to purchase used vehicles privately, inspect them for mechanical defects, and visual defects, then once I have thoroughly assessed the vehicles condition, I will make an offer. In most cases I have paid less than $800 for my vehicles, and all of my vehicles have had less than 130,000 miles on them when I made the purchase. I will continue to make purchases in this fashion because I feel as though it is a more financially wise decision, and the calculator seems to agree with my strategy. In an economy where it is more crucial to save money now, than it has ever been, a lease is just not the type of commitment that I am willing to make. Being financially responsible is my main objective, and I would not feel comfortable paying for a vehicle that I will never own.