Ask Terry Questions Buying or leasing car?

Buying or leasing car?

By Terry Savage on February 12, 2020 | Wild Card

I am undecided weather to lease a car or purchase. Are there advantages to leasing?
I am close to retirement.
Appreciate you thoughts.
Thank you,

Terry Says

It really doesn’t make sense to lease a car in your situation. Here’s who should lease:
1. Those who can “write off” a portion of the lease payment as a business expense.
2. Young people who want to drive a flashy, or more expensive car but can’t afford the payments to buy it!

At the end of the lease, typically 3 years, you return the car — and have nothing to show for it but a pile of “cancelled checks”!
But if you buy the car — either for cash or financing it — you will own a fully-paid car in a few years, and can drive it for many more years.



a personal
finance question