Buying vs. Leasing a New Car

Buying a new car is expensive. Leasing a new car is not. Leasing a car is a great idea for short term drivers, i.e. three years or less. This is because you wind up not shelling out as much money as you would for a new car – the catch is, you don’t have any car after that.

When you buy a new car, you pay a lot of cash out of pocket, and the value of your vehicle depreciates with every mile driven. But for the long term, it’s not so bad, because once the car is paid off, it’s yours, and it still retains a minimal value. For the short term, however, leasing a car saves you more money than buying a car.

Car leases are a great way to try out a new car, or to have a car if you can’t afford a new car, and don’t want to buy a used clunker. So if you find yourself in this spot, think about a New York lease. Brooklyn car especially are great to try out for short term, and with no commitment, you simply give them back at the end of the lease. It’s a lot like buying a house versus renting an apartment. You choose which you would rather.