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.
Student Loan Disability Discharges - Episode 287
The Money Nerve - Episode 286
Control Your Thinking - Episode 285
Sidestep The Market Crash - Episode 284
Seven Myths About Chapter 7 - Episode 283
Thirteen Myths About Chapter 13 - Episode 282
Foreclosures and Evictions are About to Resume - Episode 281
Promoting Your Business - Episode 280
The Student Loan Planner - Episode 279
My Landlord Died! Is My Lease Still Valid? - Episode 278
Top 5 Myths about the Freddie Mac Exclusionary List - Episode 277
Monthly Passive Income Through Tax Deeds - Episode 276
Bitcoin Unbanker - Episode 275
Is Crypto Currency the Future of Money? - Episode 274
Nine Ways To Get Out of Debt - Episode 273
Feng Shui to Crush Debt - Episode 272
In Guns We Trust - Episode 271
Do You Know Your Target Audience? - Episode 270
Using the Law for Limitless Leverage - Episode 269
Using Your Bookkeeper to Crush Your Debt - Episode 268
Create your
podcast in
minutes
It is Free
Pharmacy Podcast Network
Aktörspodden
The Power of Storytelling
The Ramsey Show
Planet Money