What is the difference between lease and buying a car??
Question: for a 17 year old teenager who wants a car.what do you suggest?
Answers: u will want to buy a car out right because ur insurance will be higher. I pay for 170 more then the average. also try not to get a sports car. if you lease u will need to cosigner, try to get someone with a good credit score.
you'll never own the leased vehicle...
you will have to return it when your lease is up...
its like renting a car...
Look at it as the same as renting or buying a home. Once the lease is up, you have nothing, but the lease payments will be smaller then if you buy it. It will depend on how much you drive in a year, and how often you need to have a new car, as to which one will be better for you.
Most lease deals require a big wad of money up front and a down payment on the lease. Then you pay a monthly amount for so many months, and finally the buyout -- a nice ablloon payment at the end if you decide to keep it. A leased car allows so many miles a year. Go over that amount say for example, 12000 miles. You get charged a fee for 'x' number of miles over that. That allows them to resell the car with lower mileage. Most leases have special fine print. Read it carefully before signing. If you donot understand it, ask for a copy and talk to a lawyer. Most lawyers or lawyer wannabees can explain it to you.
For my money, buy a car that you can afford the monthly payments on. Don't forget the high cost of insurance for being a teenager. ALso, mom and dad are not the fountain of moany. Pay for your own gas, or stay home!
I suggest you save some money and use that to pay cash for a car. You dont want car payments while you are in college. It will cut into the Pizza and Beer budget! Besides, if you have a payment, you will have to work abunch of hours while trying to go to school just to make the big payments. Borrowing money for a car is not a smart thing to do ever. My suggestion? Save up about $3-4000.00 and get a nice Ford Escort ZX-2. sporty, cheap to maintain, cheap to insure and cheap on gas! Besides, you dont want to take a really nice newer car into the parking lots at school...It will get trashed with door dings! Good luck with whatever you decide. My best hope is that you will save up the money and pay cash for it...If you always pay cash for your cars, and live on less than you make, you will never want for money...
If you own a business then leasing gives you a write off. If you are an individual you are better off buying a car so you don't have to replace it in a few years. There are also stiffer penalties for missed or late payments on a lease, much worse than making payments to buy the car. We buy used cars on ebay that are still under warranty because it is much cheaper than buying a new car and if something is wrong you can get it fixed under the warranty. If there is still at least 30 days and 1000 miles left on the warranty you can extend it. We got good deals on three used cars under warranty through ebay. Check the blue book value before you bid to make sure you are getting a good deal. Also, check the vin number with the service department of the dealer before you bid to make sure there is still lots of time on the warranty. Read all the feedback comments on the seller to make sure he is ethical before you bid and call the dealer with the VIN number to ask when the warranty expires.
Well, when you lease a car they don't use Vaseline. That's about it.
BUY ONE THEN YOU OWN IT .LEASE IS WHEN YOU PAY MONTHLY PAYMENTS,THEY SERVICE IT, TAX IT,AND YOU HAND IT BACK AFTER A SET PERIOD WITH NO GAIN
The most obvious downside of owning versus leasing is the monthly payment, which is usually higher on a purchased car. Additionally, the dealers usually require a reasonable down payment, so the initial out-of-pocket cost is higher when buying a car.
The website I indicated below gives both pros and cons of both options. When I was in business, it was cheaper and more cost effective to lease. Tax breaks etc. The only problem we had with leasing was the limited miles available.
Good luck.
if u lease a car u wont own it so id buy 1 or get 1 on hp thats wot id do
Leasing a car for a 17 year old is just not smart in my opinion. Be better off if the 17 year old got a job and bought the car themselves. And paid for the insurance. And the gas.
There are lots of good answers here about the difference between buying and leasing, however they may not matter because I doubt you'll find a legitimate company that will lease a car to someone your age.
Do your homework before you buy a car. Figure out what it will cost for gas, insurance, parking and car payments. Don't expect your friends to chip in - even if they say they will. Cars are a huge investment.
earn the money buy yhe car you want
Answers: u will want to buy a car out right because ur insurance will be higher. I pay for 170 more then the average. also try not to get a sports car. if you lease u will need to cosigner, try to get someone with a good credit score.
you'll never own the leased vehicle...
you will have to return it when your lease is up...
its like renting a car...
Look at it as the same as renting or buying a home. Once the lease is up, you have nothing, but the lease payments will be smaller then if you buy it. It will depend on how much you drive in a year, and how often you need to have a new car, as to which one will be better for you.
Most lease deals require a big wad of money up front and a down payment on the lease. Then you pay a monthly amount for so many months, and finally the buyout -- a nice ablloon payment at the end if you decide to keep it. A leased car allows so many miles a year. Go over that amount say for example, 12000 miles. You get charged a fee for 'x' number of miles over that. That allows them to resell the car with lower mileage. Most leases have special fine print. Read it carefully before signing. If you donot understand it, ask for a copy and talk to a lawyer. Most lawyers or lawyer wannabees can explain it to you.
For my money, buy a car that you can afford the monthly payments on. Don't forget the high cost of insurance for being a teenager. ALso, mom and dad are not the fountain of moany. Pay for your own gas, or stay home!
I suggest you save some money and use that to pay cash for a car. You dont want car payments while you are in college. It will cut into the Pizza and Beer budget! Besides, if you have a payment, you will have to work abunch of hours while trying to go to school just to make the big payments. Borrowing money for a car is not a smart thing to do ever. My suggestion? Save up about $3-4000.00 and get a nice Ford Escort ZX-2. sporty, cheap to maintain, cheap to insure and cheap on gas! Besides, you dont want to take a really nice newer car into the parking lots at school...It will get trashed with door dings! Good luck with whatever you decide. My best hope is that you will save up the money and pay cash for it...If you always pay cash for your cars, and live on less than you make, you will never want for money...
If you own a business then leasing gives you a write off. If you are an individual you are better off buying a car so you don't have to replace it in a few years. There are also stiffer penalties for missed or late payments on a lease, much worse than making payments to buy the car. We buy used cars on ebay that are still under warranty because it is much cheaper than buying a new car and if something is wrong you can get it fixed under the warranty. If there is still at least 30 days and 1000 miles left on the warranty you can extend it. We got good deals on three used cars under warranty through ebay. Check the blue book value before you bid to make sure you are getting a good deal. Also, check the vin number with the service department of the dealer before you bid to make sure there is still lots of time on the warranty. Read all the feedback comments on the seller to make sure he is ethical before you bid and call the dealer with the VIN number to ask when the warranty expires.
Well, when you lease a car they don't use Vaseline. That's about it.
BUY ONE THEN YOU OWN IT .LEASE IS WHEN YOU PAY MONTHLY PAYMENTS,THEY SERVICE IT, TAX IT,AND YOU HAND IT BACK AFTER A SET PERIOD WITH NO GAIN
The most obvious downside of owning versus leasing is the monthly payment, which is usually higher on a purchased car. Additionally, the dealers usually require a reasonable down payment, so the initial out-of-pocket cost is higher when buying a car.
The website I indicated below gives both pros and cons of both options. When I was in business, it was cheaper and more cost effective to lease. Tax breaks etc. The only problem we had with leasing was the limited miles available.
Good luck.
if u lease a car u wont own it so id buy 1 or get 1 on hp thats wot id do
Leasing a car for a 17 year old is just not smart in my opinion. Be better off if the 17 year old got a job and bought the car themselves. And paid for the insurance. And the gas.
There are lots of good answers here about the difference between buying and leasing, however they may not matter because I doubt you'll find a legitimate company that will lease a car to someone your age.
Do your homework before you buy a car. Figure out what it will cost for gas, insurance, parking and car payments. Don't expect your friends to chip in - even if they say they will. Cars are a huge investment.
earn the money buy yhe car you want
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