How do I choose between a loan or a lease?
1. What you want to drive?
2. How much you plan to drive it?
3. How long you want to keep it?
It might be preferable to lease rather than obtain a loan if:
2. You drive a pre-determined number of miles per year.
3. You prefer to trade in your car every three years or less.
4. Owning a car outright is not important to you.
If these considerations do not apply to you, it might be better for you to get a loan if:
2. You plan to enjoy your vehicle for a long time.
3. You want to customize your vehicle.
4. You want the maximum flexibility regarding the number of miles you drive.
5. You want control of the length of time the vehicle is in your possession.