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Car Lease with Option to Buy?
Does anyone have any experience with car leasing with option to buy deals? Any thoughts.....information.....suggestions? I have always purchased, but considering this. Where are the 'catches'? What should I watch out for? I worry about 'the small print'! Thanks :) Thank you Zsasha...I will keep that opinion and information in mind.
Public Comments
- My sister leased her car and bought at the end. Although her monthly payments were lower than if she had financed the car, her car ended up costing thousands of dollars over market value at the end of her lease when she bought it. My advice would be to wait at the end of your lease then offer the leasing company to buy the car at lower price (preferably at or below market value). If they won't budge and you find the car is too expensive (considering the depreciation value) you may just have to give the car back to them. Of course you won't have equity on the car but you won't shell out thousands of dollars for a car that has depreciated in value either. If you ask me, I would rather finance than lease but that's just me.
