Lease a car

Now I have to figure out what to do since my car is totaled..I bought this really nice used car in May. 🙁 Anyways I am thankful that I didn’t get seriously injured. I am thinking about leasing a car or buying an inexpensive car. I don’t drive a lot..just drive between my work and home..and going to places on the weekend. There are lots of automakers offering zero-percent and low-rate financing for buying a brand new car but leasing is still an attractive alternative. I guess leasing is appealing for those who like to drive a new car every two or three years and you can lease a nice car like BMW for less than $300 a month. (well, the lease expensive and basic model though). Leasing would be good for you if you don’t want to worry about paying for maintenance fees other than routine maintenance and want to drive a really nice car. But of course there are pros and cons so leasing does have certain risks. Leasing isn’t necessarily cheaper than owning a car..actually it can be more costly after paying your down payment and other fees and your monthly payment.

Another disadvantage of leasing a car is its strict mileage limitations..you can usually drive up to 15,000 miles a year. If you drive more than that, you are going to have to pay the penalty. Another problem with leasing a car is that you have to return your leased vehicle at the end of term period in excellent condition. No dents..scratches..cracks. I have been in fender bender types of accidents numerous times and this time I totaled a car so leasing may not be good for me. Otherwise you need to pay for excessive wear and tear fees. Also once you sign a leasing agreement, it can be difficult to break the contract early. You can of course pay a fine to get out of the lease but it could be expensive.