Personal Finance

Should you Lease or Buy a Car? Car Buying Tips | Personal Finance

I almost fell into this trap many years ago when I needed to buy a car. 

Leasing can sound super appealing and seem to make sense if you don’t know any better—especially with those tricky marketing tactics: Brand new car, lower payment than buying, etc…BUT After doing my research (and some basic math ?) I realized leasing a car was literally the worst idea ever.  

First of all, I have not met one person who hasn’t went over in miles…having to track and stress about going over and paying extra mileage fees was a big turnoff, but the biggest turnoff was not only do you pay higher insurance and have to pay a bunch of extra fees, when your lease is over, you have nothing to show for it.   

If you need to buy a car, do your best to save up the most cash possible, or pay completely in cash…Lower your standards a bit.   

Cars last FOREVER now and a lot of 10 year old cars still look new. Cars are NOT investments, unless it’s a rare special car that’s not even meant to be driven. A car is a means of transportation.   

If you have a bunch of other debt, a big car payment is the last thing you need.   

Have you ever leased a car? Do you own your car outright? What’s your take on car buying? Share below!  

xo, Tawnya 

#moneylifecoach

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