Leasing vs. buying a car...

jcramer1227

I'm currently upside-down on my car loan and considering trading it in to lease a car. I've never leased before, but I've talked with the dealership and I've done some of my own research. I guess I'm just nervous that this will turn out to be not as awesome as I'm hoping. Anyone have experience with leasing or any advice on the matter?

NYactor1

My 2 cents: use the lease vs. buy calculators online to help run the numbers. Make sure you drive under 12k miles a year. Leasing can be a great way to get out of your current situation. Be aware that you will have to pay taxes, tags/license and acquisition charges, which will probably be around $2k on a $20-$25k vehicle.

Check out the new Nissan Versa- cheapest car out, around $13k, pretty solid buy and lease deals on them right now. I have been happy so far with leasing - although there are pros & cons to it.

jcramer1227

Thanks for the 2 cents I did end up leasing after a little more research and it worked in my favor. Woohoo! Not too worried about mileage...I average about 5k/year. It even knocked 2k off my negative equity!!