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To buy or lease a car?

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RELATED VIDEO
CNN's Ann McDermott has a look at the options
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The decision depends on what you want

January 4, 1999
Web posted at: 3:47 p.m. EST (2047 GMT)

LOS ANGELES (CNN) -- After you've picked the new car you want, it's time to make another costly decision -- lease or buy?

About a third of U.S. motorists lease their vehicles but, in general, buying may be the better alternative if:

  • You tend to drive a vehicle for six years or more.
  • You have enough money to make a 10 percent down payment.
  • If you see a vehicle as an investment.

Leasing may be for you if:

  • You see a vehicle as a depreciating asset.
  • You want smaller down payments and lower monthly charges, without owning.
  • You want to drive your car four years or less.
  • You drive less than 15,000 miles per year.

To learn more about who buys, who leases, and what it costs, watch this report from Correspondent Ann McDermott.

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