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Should you lease or buy your next car?


A lease requires little or no money up front and offers lower monthly payments. But when the lease ends you are left without a car and a need to replace it.

Buying a car is more expensive initially and the monthly payments are higher. But at the end of the loan, you will own a car you can still drive or sell.

Other key factors that differentiate leasing and buying include:

Advantages of Leasing

You can drive a better car for less money
You can drive a new car every few years
No trade-in hassles at the end of the lease

Advantages of Buying

When interest rates are low, it makes more financial sense to own a car rather than lease it

No mileage penalty
Increased flexibility — you can sell the car whenever you want

Make or model

People often ask which make is better. Generally, Japanese and German cars still provide better quality. Well, it may be not so important when it's new vehicle since everything is covered by the manufacturer's warranty, but
In general:

If you want a small sedan I'd recommend Toyota Corolla, Mazda Protege (323), Nissan Sentra, Honda Civic. Also, consider Dodge Colt or it may have name Eagle Summit - it's actually Mitsubishi Mirage sold by Chrysler, and because of the name it's usually cheaper.

For family sedans, I recommend Toyota Camry or Honda Accord. The Nissan Altima is also something you may consider, especially 2002 and newer model.
Ford and GM will be perfect if you want a pickup truck.

If you want a large van, GMC Safari is not bad.
It's difficult to highlight something among minivans: Toyota Previa was not bad but this model has been discontinued. Toyota Sienna and Honda Odyssey are not bad, but they also have certain complains. Dodge Caravan is very comfortable, but it has quite many reliability related complains.