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It seems that the monthly payment for leasing a car is less than if I would buy a car. Is leasing better than buying?
Often the monthly payment for leasing a car is less than a
loan for a car because you are only paying for the vehicle's
depreciation, rent charges, and taxes for leased car.
However, before making a decision to lease or purchase a
vehicle, consider all the costs of leasing (beginning costs,
excess miles/wear charges, disposition fees, etc.). You may
find that with all the additional fees that come with
leasing a vehicle, it is actually cheaper to purchase a car.
Brenda Procter, M.S., State Specialist &
Instructor
Personal Financial Planning, University of
Missouri-Extension
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Last update: Wednesday, April 19, 2006
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