You buy a $35,000 car with a 5-year loan at a $600 monthly payment. : You spend $36,000 in payments. Years 6-10 : You make $0 payments for five years. Total Spent : ~$36,000 (plus interest and maintenance).
: Leases strictly limit you to 10,000 to 15,000 miles per year. Buyers can drive unlimited miles without penalty fees.
: You only pay for the car's projected depreciation during the lease term, not the full purchase price.
: Your car will always retain some cash value. You can sell it or use it as a trade-in later.
You buy a $35,000 car with a 5-year loan at a $600 monthly payment. : You spend $36,000 in payments. Years 6-10 : You make $0 payments for five years. Total Spent : ~$36,000 (plus interest and maintenance).
: Leases strictly limit you to 10,000 to 15,000 miles per year. Buyers can drive unlimited miles without penalty fees.
: You only pay for the car's projected depreciation during the lease term, not the full purchase price.
: Your car will always retain some cash value. You can sell it or use it as a trade-in later.