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Posted by sviechweg (MONEY FORUMS: 7, Answers: 0)
Asked on September 8, 2015 2:01 pm
Leasing a car is an alternate financing strategy for buying a car. (You could also take out a car loan.) At the end of the lease, you have can return the car or purchase it at a price that is negotiated when you enter into the lease. Any potential car owner must consider the total cost of owning and operating a car (gas, parking, insurance, maintenance) in addition to the loan or lease payment. There is no one right answer for a college student. I simply advise that if you have to take out a 5 or 6 year loan (or longer) to get a payment you can afford, you are overreaching. Consider a used car.