Ask Stacy: Should I Buy or Lease a Car?

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Welcome to “Ask Stacy,” a video characteristic wherein I reply a cash query submitted by a reader or viewer. (Discover ways to ship in a query of your individual beneath.)

Additionally, I’ve a word for these of you who would moderately learn an article than watch a video: I really feel you. I, too, am a reader first, watcher second. However these movies are quick and painless. Give them a strive! You simply would possibly discover you want them.

Right this moment’s query is about vehicles; particularly, whether or not an 87-year-old driver — or anybody else — ought to lease a automobile as a substitute of shopping for. My reply additionally presents recommendation for anybody considering of financing a automotive.

Personally, I’ve by no means owned a brand new automotive and have leased just one automobile, and that was a few years in the past. The explanations? On the subject of shopping for, I’m not fond of buying issues that plunge in worth by hundreds of earlier than you get them house. On the subject of leasing, I don’t like signing long-term contracts with a variety of restrictions and no method out.

However that’s simply me. If there’s a brand new automotive in your future and also you’re pondering the purchase/lease query, right here’s what I feel you must do.

For extra data on this subject, try “Does It Ever Make Sense to Lease a Automobile?” and “7 Automobile-Leasing Myths That Value You Large Cash.”

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The questions I’m likeliest to reply are these that can curiosity different readers. In different phrases, don’t ask for super-specific recommendation that applies solely to you. And if I don’t get to your query, promise to not hate me. I do my greatest, however I get much more questions than I’ve time to reply.

About me

I based Cash Talks Information in 1991. I’m a CPA, and have additionally earned licenses in shares, commodities, choices principal, mutual funds, life insurance coverage, securities supervisor and actual property.

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