Mar
17
2009
Pros and Cons of Leasing a Car
Author: Byron UdellHere I go again, writing about something other than term life insurance. Consumer Reports has a great section that can help lead you through the new car buying experience. It’s a guide that provides the essential information you need to choose, buy, finance, and maintain a new car.
They recently wrote an article that talked about leasing a car. They provided three rules of thumb to determine if leasing makes sense. Here they are:
Leasing generally makes sense only if:
- You don’t exceed the annual mileage allowance–typically 12,000 to 15,000 miles, but sometimes as little as 10,000 miles a year.
- You keep the vehicle in very good shape. Excess wear and tear charges can be steep.
You plan to get a new vehicle every two or three years. If you keep it much longer than that, you’re better off buying it from the start.
Tags: Home and Auto Insurance
March 18th, 2009 at 2:39 pm
Often times we forget to include the total cost of ownership into owning a vehicle. Remember to add in the cost of insurance, gas and maintenance as well.