Lease or Buy? The Quest for a New Car
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There seem to be three camps people fall into when it comes to cars and transportation:
1. people who use public transportation exclusively
2. people who buy their cars outright
3. people who prefer to lease vehicles
Even in my own family we have a mix of opinions on this topic. Myself, I have always been one to buy a car. I figure if I can get a good enough deal on a car and make it last long enough, I will eventually have transportation without car payments. On the other hand, my cars have not been lasting all that long without acquiring major problems, so my sister’s propensity for contract hire situations sometimes seems like the logical way to go about keeping a car in the family with minimal fuss.
Whether your lease of buy; the information coming at you from the car commercials on TV and in the newspapers is just overwhelming. I cannot keep the “deals” straight in my head long enough to really see who has the best situation for me. I do know that I need to rethink my car situation, perhaps trading both my cars for one that is more fuel efficient.
Folks over in the UK have access to a helpful site called BuyYourCar that sifts through and finds the cheapest leasing deals in your area. They also look at purchasing prices and reviews for new and used cars, as well as insurance and loan info. Pretty handy.
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