Looking at a new car presents a unique challenge for some people. Should you buy or should you lease? If you look at the comparisons between those two options it quickly becomes apparent that leasing is a bad idea. Here are 9 reasons why you should buy a car instead of leasing it.
1) The real price for lower payments
How do dealerships and car companies hook you into leasing a car? They offer low monthly payments. When you lease, you can get a new car for less than your monthly payment would be on a loan for that same car. While this is one of the benefits of leasing, it is often just smoke and mirrors. For starters, it is likely that you will have to pay more for your car insurance as the lease contract will often require you to carry a higher level of insurance coverage than the state mandated legal minimum coverage you would be required to pay if you had purchased the car.