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Finance Tip of the Day

Think Leasing a Car is a Good Idea? Tip #1

  • 2018 3 Sep
Think Leasing a Car is a Good Idea? Tip #1


Think Leasing a Car is a Good Idea? Tip #1

Data shows that close to 30% of new car transactions are leases. So what’s the advantage, if any, of leasing a vehicle versus buying one?

Everyone’s financial reality is different, hence we cannot be prescriptive, but what we can do is name all of the issues you should consider before you opt for leasing a vehicle.

Lower Monthly Payments

In many cases, leasing a vehicle will give you a lower monthly payment than buying the same vehicle. Those who are struggling with living within their means may opt to lease a vehicle simply to offset the monthly payments by a hundred to a few hundred dollars a month. Keep in mind, however, that at the end of your lease, you will have nothing to show for the money that you spent!

Today's tip brought to you by Mvelopes and Money4Life Coaching.