The Cons A down payment usually is necessary. Monthly payments are usually higher than when leasing, and financing periods can last for up to six years, depending on the payment plan. Warranty periods may be shorter, and almost never last for the financing period. You will be responsible for the car once it has been paid off. If you choose to purchase a different car, it is your job to sell or trade your current vehicle.
Many people consider driving a good car more important than owning one.
For others, the actual ownership and option to do as they please with their vehicle is the better way. If finances are a worry, remember that fines on leased vehicles can add up, so the myth that buying is more costly is often proven false. Whatever you choose, think about your lifestyle, how far you drive, who you drive and where you drive before you decide to lease or buy. Story courtesy of the Article Resource Association.