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maleficent · 08-23-2004, 01:24 AM

Leasing is really only a good idea if you don't put a lot of miles on a car, and you want to get a new car every few years. Leasing is very similar to renting a car for 3 years, at the end of the lease, it's not yours, you either have to make the balloon payment, to buy the car outright (generally several thousand dollars), or return the car, and expect to pay if you have gone over the mileage (usually very low per year) plus if there's any damage to the car.

Look at insurance options leasing vs buying as well...

You're better off buying a car. If the insurance rate is a little higher for your first purchase, well, know that you are on your way to establising credit, and the next purchase it will be a lot lower...

Depending on where you live, there are places that will help with financing for people with bad credit or no credit.. Look in the ads i nthe news paper. If you have enough of a downpayment, the dealer might even offer financinig.

08-23-2004, 01:24 AM	#3 (permalink)
maleficent Junkie Moderator Emeritus Location: Chicago	Leasing is really only a good idea if you don't put a lot of miles on a car, and you want to get a new car every few years. Leasing is very similar to renting a car for 3 years, at the end of the lease, it's not yours, you either have to make the balloon payment, to buy the car outright (generally several thousand dollars), or return the car, and expect to pay if you have gone over the mileage (usually very low per year) plus if there's any damage to the car. Look at insurance options leasing vs buying as well... You're better off buying a car. If the insurance rate is a little higher for your first purchase, well, know that you are on your way to establising credit, and the next purchase it will be a lot lower... Depending on where you live, there are places that will help with financing for people with bad credit or no credit.. Look in the ads i nthe news paper. If you have enough of a downpayment, the dealer might even offer financinig. __________________ Free your heart from hatred. Free your mind from worries. Live simply. Give more. Expect less.