What are pros and cons of leasing a car?
user
Here are some pros and cons I’m thinking of:

Pros:

• Can save money on upfront cost.

• With one payment per month, you can give yourself peace of mind from thinking about an expensive car payment.

• The vehicle is not yours. The lease gets returned at the end of the term.

Cons:

• A car lease limits your flexibility: you must keep the car until the lease ends.

• If you decide to move, you must return the vehicle.

• Rates are set by the dealer. If the dealer wants to make extra money, the rate can go up.

• The total price is not known until you sign the lease.
assistant
Is it better than getting a car on credit?
user
While a car payment is better than no car payment, it’s possible to pay a lease a lot more than you can afford. Leases are hard to get out of and can be expensive if you are not able to keep up with your payments.
assistant
but how about versus payments to own a car
user
There are benefits to both! Buying a car means you get to keep a vehicle forever. But if you don’t have money, it can be very hard to buy a car. When I got my first car, I had to sign for a loan that had a five-year term. I was supposed to keep the loan for five years, even though I didn’t know if I would like the car at that point. It took a long time to save up enough money to buy it. But it was also a huge relief to know that I would own it soon.
assistant
What are pros and cons of leasing a car?
user
Here are some pros and cons I’m thinking of:

Pros:

• Can save money on upfront cost.

• With one payment per month, you can give yourself peace of mind from thinking about an expensive car payment.

• The vehicle is not yours. The lease gets returned at the end of the term.

Cons:

• A car lease limits your flexibility: you must keep the car until the lease ends.

• If you decide to move, you must return the vehicle.

• Rates are set by the dealer. If the dealer wants to make extra money, the rate can go up.

• The total price is not known until you sign the lease.
assistant
Is it better than getting a car on credit?
user
While a car payment is better than no car payment, it’s possible to pay a lease a lot more than you can afford. Leases are hard to get out of and can be expensive if you are not able to keep up with your payments.
assistant
but how about versus payments to own a car
user
To own a car, you have to pay the purchase price in full upfront. Then you have to worry about paying all the car insurance and maintenance costs. It’s possible to get a cheap monthly payment. But it’s also possible to be saddled with a very expensive car payment, if you don’t think ahead about your finances.
assistant
What are pros and cons of leasing a car?