Hello and welcome to Money Girls Quick and Dirty Tips for a Richer life.

I'm your host Laura Adams. Today we continue the topic about leasing versus buying a vehicle.

In the last show we covered the basic differences between buying and leasing a car. In this

episode I'll discuss specific pros and cons to help you decide what's best for

you. Even though the decision to buy or lease has definite financial implications,

it's not the only factor to take into consideration.

Your personal taste and lifestyle also plays a big part in the decision.

What's right for one person can be totally

wrong for another. Someone who's a fan of leasing might argue the following advantages.

I want lower and more affordable monthly payments.

I want a brand new vehicle every few years and I don't want the hassle of having to worry about trade-in values or haggling with buyers.

I want to drive the latest models with the best safety and

comfort features. I want to drive a car that's in great condition without

worrying that a major repair will be needed in the future.

Most potential repairs will be covered if I get a lease term that lasts just as long as the manufacturer's

warranty.

I drive a predictable number of miles each month and can return the car at the end of the lease period with minimal wear and tear.

I have a stable career and income to make the monthly lease payments.

I would never need to terminate a lease early.

I'm willing to pay more in the long run to have all the benefits of leasing.

On the other hand, a fan of buying could argue these points.

I don't mind making higher monthly payments because I'm saving money in the long run.

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