If you are buying a car, there are several things to consider -- from knowing what you’re paying for to deciding if you should lease or buy. We turned to the experts at Consumer Reports to help you make the right choice for you and your family.
Consumer Reports says that on the surface,If you are buying a car, there are a lot of things to consider and we've got you covered this morning. From knowing what you're paying for to deciding if you should lease or buy.
“A major downside of leasing is that you’ll have an endless cycle of paying for a car. You’ll never be without a car payment because as soon as your lease is up, you’ll have to either buy a car or get into another lease,” Linkov said.It’s difficult to make a fair, head-to-head comparison, but in general, two back-to-back three-year leases will always cost more compared with buying and owning a car over that same period. That’s because you’ll own an asset—the vehicle—after that period.
“Our analysis found that from 2003 through 2021 that the price of new vehicles did not increase once we adjusted for,” explained Chris Harto, Consumer Reports Sr. Policy Analyst for Transportation and Energy.
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