- BUY -
Buying Advantages:
- You can modify your car as you please.
- Car buying is more economical over the long term.
- You can drive as much as you like. There's no excess mileage penalty.
- You have more flexibility since you can sell the car whenever you want.
Buying Disadvantages:
- It requires a higher down payment to avoid being "upside down" in the loan, meaning you owe more than the car is worth.
- Monthly payments are higher than lease payments.
- Once the warranty expires, you're responsible for repair costs.
- You face possible trade-in or selling hassles when you decide to get your next car.
- More of your ready cash is tied up in a car, which depreciates in value.