Buying and leasing both have their pros and cons, and which one you choose depends on your current situation. Once you understand the difference it’s easy to decide!
Buying a car is smart if you have a slightly bigger budget and you’re willing to make a long-term commitment. Initial payments will be higher, but you’ll eventually own the car and not have any payments at all. Drivers often find the mileage restrictions on leased cars don’t work for the amount of driving they do as well, so if you travel a lot it’s a good idea to buy instead of leasing.
Leasing is a popular choice among young people because the payments are lower and you only have the car for three years. If you like to have the latest tech in your car, a lease is preferable because you get to return your car for a brand new model after you’ve had it for a while. Leased cars aren’t the best investment, but you don’t have to worry about their depreciation, which is a concern with brand new cars.
As long as your budget and situation make sense for it, both buying and leasing can work for you!