Thinking about getting a car? Are you planning to lease or finance? Maybe even purchase the car outright? Which is the best option for you?
In this episode of Using Your Power, David Andrew Wiebe and Maveen Kaura discuss the upsides and downsides of leasing and financing a vehicle.
Check out the podcast on the website clicking the link: https://usingyourpower.com/041-lease-or-finance/
or
Check out the audio on Youtube by clicking the link below:
Episode 41- Should You Lease or Finance a Car?Podcast Highlights:
00:00 – Audible intro
00:35 – Introduction to our topic
00:57 – Leasing reason 1: Lower monthly payments
01:21 – Finance reason 1: No restrictions
01:54 – Leasing reason 2: Negotiate better rate / down payment
02:10 – Finance reason 2: No sales process every 2 – 4 years
02:57 – Leasing reason 3: Driving less than the average
04:02 – Finance reason 3: Dealerships give you good discounts
04:30 – Leasing reason 4: Usually less wear and tear on the car
05:02 – Finance reason 4: Don’t have to fix damage on a financed car
05:40 – Leasing reason 5: You have a business, or you’re looking to get a new car ever few years
06:36 – Finance reason 5: Need higher payments to offset income in business
07:07 – Maveen and David discuss advantages and disadvantages of both
11:00 – We learn financing in school not leasing
12:20 – David’s final thoughts
12:58 – Maveen’s final thoughts
13:46 – Outro
Always finance :)
I think that is a good idea as well, but you can lease a vehicle at a lower interest rate many time and at the end of the lease buy the vehicle for cash and/or finance the difference.
What are you thought on that? @nycryptotalk
i am not a fan of leasing because by the time your lease ends, the value of the car depreciates and buying it out is not worth it at the price they ask. Personal opinion.
That a a fair look at it. I think both options can be of value depending on your financial situation, if you have a business or if you plan to keep the car for short or long term.
True. I guess I don't drive enough miles for leasing to be worth it. Won't get my money's worth.