Is it better to lease or buy a car?
98251
It really depends on you...\n\nIf you tend to want a new car ever 2-3 years, it may be better for you to lease.  This way, you can pretty much turn the keys back into the dealership and find a new lease.  However, if you put a lot of miles on a vehicle, this might not be the best for you either, as there are usually penalties if you exceed a certain mileage that is spelled out in your contract.\n\nIf you plan on keeping a car for a long time, it is best to buy.  The car will become your asset, as eventually you will have it paid off and it will be yours.  Most new car loans are for 5 years, and sometimes longer, so you get the most benefit out of a purchase if you plan on keeping it for the length of your loan.  This way at the end you either have a vehicle that you can trade for a credit toward a new car...or you simply have a car that is yours free and clear.  \n\nThere is NOTHING better than having no car payment!  However, that means you sacrafice having the newest and latest as your car ages.
643190
Depends on how much you are needing. Second mortgage on the house maybe (if you have one). Anything of value. Is your vehicle paid off? Just shop around. You can find a good deal with some shopping. Just remember, if it sounds too good to be true...it always is.
205150
There are a couple of ways of looking at this.\n\nSuppose they are leasing the car for you, at $350 per month, and covering all expenses, including gas. Let's also assume you use the car 60% business, 40% personal. Then you're earning:\n\n1. The lease cost: $140 per month;\n\n2. The monthly insurance cost: If your premimum is, say, $800 per year, then that's $27 per month;\n\n3. If the gas tab for all uses is $40 per week, that's $70 per month;\n\n4. If you figure an average maintenance cost of $300 per year, that's $10 per month.\n\nFor a grand total of about $250 per month, or about $3,000 per year, if you figure it on your actual use of the vehicle and what percentage of their costs you are using for your own purposes. That's how the IRS figures your taxable deduction for a business car that's also used for personal stuff.\n\nOr, you could look at it this way: Take the total cost of operating your car last year. If you had a $300 per month payment, $800 in insurance, $800 in gas and $500 in maintenance, then you're getting an extra $5,700 per year in salary.\n\nOr, you could compute it the way the IRS would if you used the mileage-based system of auto reimbursement: They allow you to take 40.5 cents per mile for business use.\n\nSo, if you put 5,000 miles on the car for personal use in a year, you've gotten $2,025 in extra salary.\n\nIt's also important to note that since you are receiving this as a fringe benefit, it's not taxed.\n\nFor example, let's suppose your 2005 adjusted taxable income is $45,750 and you file single. You then owe the IRS $8,109. \n\nIf you add $2,500 cash to that, making your taxable income $48,250, you owe $8,734 -- a difference of $625.\n\nSo, if you got $2,500 worth of car use from your employer, it's like getting another $625 on top of it -- because that form of compensation isn't taxed.
218073
Without a doubt, it's best to buy if you can.  Paying rent is paying someone else's mortgage for them.  Better to pay tax deductible interest to the lender than to just give money away to a landlord.  Many mortgage companies collect property taxes as part of your mortgage payment, and you can have the payment charged directly to your bank account - don't have to remember or ever be late.  Just have to make sure there's enough money for the mortgage, figure out ahead what your bills will be, such as utilities, food, car payment, etc.  Years later you probably can sell your house or condo for more than you paid, it's like having lived there for free.
418116
When you buy a car, you often take out a loan to pay for the car.  The loan is an annuity; you promise to make payments every month for 3 years.  Whoever gives you the loan does not simply take the price of the car and divide it by 36 to determine how much you will pay.  This is because the lender can put that money in the bank and earn interest.  In order to get a loan, you must pay more than the bank is willing to pay him for his money; the present value of your annuity must be higher than the lent amount plus interest.  Of course, there are other factors like your risk as a borrower, but this is a basic example.  \n\nThe best use of Present Value of Annuity is comparing 2 streams of payments.  As a general rule, you should purchase the financial instrument that has the highest present value.
194648
Yes you can refinance a leased car, but your refinance amount will be the total of your payments left on the lease plus the "residual" (the buyout amount specified in your lease contract) so if you have more than a couple of months left on a lease it usually doesn't make sense to refinance.\n\nGood Luck
490556
go with the one you can afford.  Remember this. To drive in love can be pleasant but the drivers seat can sometimes result in disaster when you don't know enough. Good luck and much wisdom.
974256
There is not really any difference.  Leasing a property does not give you any ownership.  However, a lease usually implies that there is a long-term contract of some kind, for example, a one-year lease.  "For rent" can mean that you are renting month-to-month.  No one would say "for lease" if they were only offering a month-to-month rental.  However, "for rent" can and often does mean that you will be asked to sign a one-year lease.  So in all probability, there is no difference.
4
renting vs buying depends on your goals. <br />\ngenerally thinking is that buying is better b/c the payments that would go into the rent start building equity in your home. the govt also incentivizes you to buy by making your property tax payments and mortgage interest payments tax deductible.\nhaving said that current housing status in the bay area is such that housing cost to purchase is relatively high and rental prices (compared to ownership cost) are relatively low (relative to the rest of the country). it makes lese sense to buy vs. other places.\nbottom line you should base your decision on whether you think the market will keep going up or not. the other numbers tend to even out, the main gain or loss in buying comes from appreciation/depreciation.
651741
If you are uncomfortable with the terms of the lease or if you do not think you can abide by the terms of the lease, then do not sign the lease.  Look elsewhere -- there's lots out there.  Remember a couple of things though:  Most leases will charge a late fee if you're late paying your rent, no matter what date your rent is due.  In other words, let's say your rent is due on the 10th of every month but you get paid on the 1st and the 15th of every month, you either have to save your money on the 1st so that you have enough money to pay rent on the 10th, or you have to save enough money on the 15th.  Either way, you have to make sure you have enought money for rent day.  If you encounter an emergency while on a "normal" lease, you could still end up paying a late fee (often as much as 10% of the monthly rent).  For example, on a "normal" lease, if your rent is due on the 1st of every month and you get paid on the 1st of every month, suppose you had a medical emergency or your car broke down that day and you had to use your rent money?
686671
Some of the pros are that you lock in the monthly rate and you can not be evicted at any point like on a month to month contract.  Also, leases are contracts between the landlords and tenants and they are all different, so pay close attention to all the lines in the contract.  Negotiate all you can before you sign.  The bad thing is that you are locked in and if you find a better deal you still have to pay til the end of the contract.  The way to correct this is to make sure you add a clause stating that say if you find a house you want to buy and exit the contract, you can buy your way out at a pre-planned price.  Be creative and negotiate all you can.
189298
buy buy buy  lease is basically renting the car. youll pay thousands of dollars towards a vehicle that doesnt belong to you. and then after the lease expires on alot of them they will require you to pay full retail value if you want to keep the vehicle.    if you decide to lease make sure your payments can be put towards purchase, if you want to keep the vehicle.   hope this helps
914092
What kind of lease. Vehicle, property, business.\nI cant see how owing money every week to someone for something can be deemed as an asset, unless its business lease say a hotel or something. This you would be able to sell on.
1110696
Both. I save money for a big purchase, like a new car or tv, then I try to get the best price I can!!
392167
If you are a used car dealer why would you want to sell new autos? That's were the money is. Anyways new dealers are franchises that you have to buy into.
349676
Renting to Own (RTO) can be a great way to get into the home of your dreams especially if you have challenged credit.  If you know you can fix or boost your credit withing the time of the lease (say 2 years), then get in now and refinance into your name when your credit is better.\n\nIf you can lock in the purchase price for the full term, even better, especially if the market moves up.  This isn't always the case, but if available, good for you.\n\nDrawbacks:  If you are late on a payment you may lose your entire deposit and any credit towards the purchase price that you may have accumulated.\n\nAlso if you decide not to buy at the end of the term, you lose your deposits and credits as well.
440166
If you go to one of the car lots that offer financing and buy here pay here you should get one, make sure you take it for a test ride and if possible take it to a mechanic and get it checked out first- you may have to pay $20.00 but it is cheaper to do that then it is to have $5,000.00 in repairs after you purchased the vehicle.  If you have a mechanic look at it, make sure it is the vehicle you are very interested in purchasing.  Make sure that you have the oil changed every 6000 miles in all of your vehicles, as it cost less that $20.00 every oil change, your car will run forever-  remember if you take care of your car, your car will take care of you!