Deciding whether to lease or buy a car has been confusing consumers for the past 40 years. Though leasing has been around for decades, many people don’t understand the process very well. It’s filled with terms that are unfamiliar, and that prompts questions in a lot of people’s minds. It is not nearly as straightforward as buying a car with a car loan.
Leasing has definite advantages, but it is certainly not for everyone. By looking at the pros and cons of both leasing and buying, you’ll get a much better idea of whether it would work in your circumstances. Much of the decision depends on what you value. Do you prioritize convenience and low monthly outlay? Or are you more interested in building your financial future? Here are the pros and cons of buying versus leasing.