Kim
Obviously the advantage of financing a car is that you actually own something at the end. However, a large percentage of buyers lease their cars. The typical lease is a 36 month lease with 12K-15K miles. I have a friend that's leasing a car for 18K miles a year. The difference in the monthly payment between 12K and 15K miles on a $35,000 car is 13 bucks. Say you lease a car for 36 months, your payments will be much lower than if you finance the car and every 3 years you get a brand new car. Also a lot of manufacturers offer owner loyalty in which they immediately take $1000 of the price if you trade your current car in for another car of the same make... I paid for my car in full when I bought it, but if I didn't I would have definitely leased the car...
Eric......
Obviously the advantage of financing a car is that you actually own something at the end. However, a large percentage of buyers lease their cars. The typical lease is a 36 month lease with 12K-15K miles. I have a friend that's leasing a car for 18K miles a year. The difference in the monthly payment between 12K and 15K miles on a $35,000 car is 13 bucks. Say you lease a car for 36 months, your payments will be much lower than if you finance the car and every 3 years you get a brand new car. Also a lot of manufacturers offer owner loyalty in which they immediately take $1000 of the price if you trade your current car in for another car of the same make... I paid for my car in full when I bought it, but if I didn't I would have definitely leased the car...
Eric......