Is it cheaper to buy or lease a vehicle?
On One Hand: It is Cheaper to BuyIt is cheaper to buy a car in the long term simply because you will eventually own the car and can then drive it for only the costs of maintenance and repairs, gas, insurance and state licensing fees. With a lease, over the course of five years, you will have paid slightly less in total fees than you would if you purchased the vehicle, but you will have nothing to show for it at the end.On the Other: It Depends on CircumstancesIf you have poor credit or you do not have enough money for a large down payment or to pay larger monthly fees, then leasing might be your better option. It will be cheaper for you in the short term to lease a vehicle, especially in the first year. However, if you plan to keep your leased vehicle for five years, which is the average length of time a person holds on to a car, according to Edmunds.com, you will pay about the same in five years as you would if you bought the car.Bottom LineThere is no easy or one answer to this quest
