Should I buy or lease a car?

Deciding whether to buy or lease a car depends on various factors, including your lifestyle, financial situation, and personal preferences. If you prefer to drive a new car every few years without worrying about its maintenance, leasing may be a good option for you. Leasing also often requires a lower down payment and lower monthly installments compared to buying a car. However, if you prefer to own a car for a longer period, have control over its modifications and travel without mileage restrictions, then buying a car makes more sense. Additionally, owning a car can also offer tax benefits, and once you pay off your car loan, you will have a fully owned asset. Ultimately, it's essential to weigh the pros and cons of buying or leasing, depending on your needs, priorities, and budget.

This mind map was published on 17 May 2023 and has been viewed 185 times.