Leasing Vs Buying Used [UPDATED]

Most leases cap driving at 10,000 to 15,000 miles per year. Exceeding this can result in hefty fees.

If you view a car as a —like a cell phone plan—and you value driving the latest model with zero mechanical headaches, leasing is a viable lifestyle choice. leasing vs buying used

Buying used requires a more hands-on approach. Depending on the age of the car, the warranty may have expired, leaving you responsible for repairs. However, because used cars have already gone through their steepest period of depreciation (usually the first 2–4 years), you are getting more "metal for your money." A well-maintained used car can provide years of service with predictable maintenance costs that are still lower than the cumulative cost of perpetual lease payments. 3. Freedom vs. Restrictions Leases come with "fine print" that can be restrictive: Most leases cap driving at 10,000 to 15,000 miles per year