budget & calculators

The Pros And Cons Of Leasing Versus Buying The Family Rig

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If your car is starting to groan under the weight of your kid (or, rather, the weight of all that kid’s crap) and you’re looking to upgrade, you might consider leasing your next vehicle. Doing so will probably net you more space – not to mention a nicer ride – for less money, in terms of your monthly nut, but there are definitely drawbacks to leasing a car beyond the obvious ones, like mileage caps and not building equity in an asset you own. The biggest is probably that you’ll get dinged for any “wear and tear” that the car suffers over the life of the lease. That means, on a 5-year lease, you’re basically telling the dealership that their car will be survive your kid’s most destructive years unscathed. So, yeah … good luck with that.

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