When I was young and poor, I always fantasized about leasing a new car, because the monthly payments were so attractive. Of course, with a credit score in double digits, no responsible car company in the world would have leased me a new one.
Now that I’m older and married to a woman with a good credit history, I’m no longer attracted to leasing. We hold our cars for a long time, as witnessed by the 2008 Mazda5 and 2002 Dodge Neon parked in our driveway.
With my perspective out of the way, let’s ponder 5 questions to figure out whether you should lease or buy your next new car. They can help you determine what will work best for you.