Can someone offer an argument in favor of buying a cheap used car for 5000 vs leasing a new Honda Civic for 150 a month and 2500 down?
Can someone offer an argument in favor of buying a cheap used car for 5000 vs leasing a new Honda Civic for 150 a month and 2500 down?
Added (1). I've a good credit score and steady cash flow - either option is feasible for me, though I'd rather not part with $5000 up front.
It seems if I buy the cheap used car, I'm opening myself up to maintenance risk. I could be spending a lot of time and money in the shop, as I have with previous used cars. With a lease, I know how my cash flow will be impacted from month to month, and I'll have a more reliable car. However, I do realize that many warn against leasing. What am I missing here?
The best lease deals are restricted to the people with the best credit; if this doesn't describe you, there's your answer right there.
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