Should you lease or buy?
In this week's episode, Shawn and George discuss that age-old question, is it better to lease or buy a car? George bought his cars. Shawn bought one (his wife's) and leases another (his). But which one is the better choice for you?
Some of the Pros of leasing a car: lower monthly payments, drive a better car for less money, get a new car every three years or so, lower maintenance costs because the car is newer or under warranty, and loyalty programs when you get a new car from the same dealership / finance company.
Some of the Cons of leasing a car: limited in mileage you can drive, no equity is built in a car, wear and tear charges or damages to be paid at the end of the lease term, and it may be difficult to return the car if your needs change during the term of the lease.
Advantages to buying a car: it's your car (you can customize or alter it however you want), no mileage limits, eventually the car is paid off and you no longer have to make payments, and you build equity in the car to use towards a down-payment on the next car.
Disadvantages of buying a car: higher monthly payments than leasing, the car depreciates in value quickly, downpayments (or trade-in) to buy a new or used car, you have to budget for annual repair or maintenance costs as the car ages, and higher insurance costs as the car ages.
Please let us know what do you think? Should you lease or buy?
Please also visit our sponsors:
Or, you can support the show by visiting our new Patreon page: https://www.patreon.com/crushingDebt
To contact George Curbelo, you can email him at GCFinancialCoach21@gmail.com, or follow his Tiktok channel - https://www.tiktok.com/@curbelofinancialcoach
To contact Shawn Yesner, you can email him at Shawn@Yesnerlaw.com or visit www.YesnerLaw.com.
Bankruptcy Listener Questions - Episode 188
Planning to Wealth with David Flores Wilson - Episode 187
Seven Wealth Building Rules - Episode 186
Judgment Liens & Inherited Property - Episode 185
Student Loan Management Program - Episode 184
Tampa Real Estate with Jamie Boling - Episode 183
The Boling Group Coaching and Consulting - Episode 182
Evicting Mom - Episode 181
Inherited IRAs are not Exempt - Episode 180
Freddie Mac Exclusionary List Policy - Episode 179
Florida’s Foreclosure-Rescue Statute - Episode 178
Positive Quotes - Episode 177
Here We Grow Again - Episode 176
Crushing Debt Book Report - Episode 175
Foreclosure Questions Answered - Episode 174
Episode 173 - Seven Rules for Real Estate Investing
Episode 172 - Trump Tax Cuts
Episode 171 - Tech Guys Who Invest
Episode 170 - What new laws passed, and which died in the 2019 FL Legislative Session
Episode 169 - #MyMKLife
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
The Power of Storytelling
NABOR® TALKS
U.S Property Podcast
The Ramsey Show
Planet Money