Leasing vs Buying:
It's time to get a new car. So, what should you do, Lease or Buy? It depends. Each has advantages and disadvantages. It's not possible to simply say that one is always better than the other because it depends on your own particular situation and preferences. You must not only look at the financial comparisons but also at your own personal priorities — what's important to you. Is having a new vehicle every two or three years with no major repair risks more important than long-term cost? Are long term cost savings more important than lower monthly payments? Is ownership more important than low up-front costs and no down payment? So, making the lease or buy decision is not quite cut and dry. There are some things you need to consider first.     continue

The Pros & Cons
	Pros	Cons
Lease	Lower monthly payments. Little or no down payment. More car for less money. Typically a shorter commitment. More cash available for other investments/purchases. Sales taxes paid over term of lease. Possible tax benefits (consult your tax adviser).	No vehicle equity/ownership. Potential early termination liability. Potential end-of-lease costs (excess wear and tear and mileage charges).
Buy	Equity and ownership.	Higher initial cash outlay. Higher monthly payments. Fewer dollars available for other uses. Sales tax paid up-front. Possible resale issues.