$trictly Business: To Buy or Lease... Knowing the Pros and Cons

Have you been looking for a new car but don't wanna pay a high car note? Before thinking about buying a car, you should definitely consider a lease. Here is why:

Most people generally like nice things often. With a lease, you can return the car after the term (usually 2 to 3 1/2 half years) and get a newer car.  Why not go from this...

To this

Both are Ford Mustangs but the first one is a 2010 and the other one is a 2014. Can you tell the difference?

Think it's scam.. IT'S NOT. What's even better is that the car note is less than when you actually buy the car. Why? Because once you return the car after the term, the dealership resells the car and is able to make a profit. In addition, you should chose a car that still has value when you return to the car. For example, Honda cars can last a long time which make them very high in demand for their durability. Mercedes is a high quality car with a recognizable brand and is great reseller. However, cars like Ford Focus will have higher notes because they lose appeal and are harder to sell. Sorry, that was a lot to digest at one time...lol 

Need more convincing... There is ZERO MAINTENANCE COST!!!! Generally only the first two years but that means no oil changes, tire rotation, nothing!!!!

Sounds to good to be true huh... Well it's not. 

Before deciding here are the cons...

• Some leases require at least a $1,000 down payment.
• There is a limit on mileage driven per year. It's generally 10,000 a year. Any amount over is $0.25 per mile over.
• Any damage to the car is responsible by you before returning the car.
• Good credit is required but some dealerships will work with you.

Cars depreciate or lose value over time. The minute you drive the car off a dealership lot, the car will lose $2,000 in value. So why invest in a high note while the car rapidly is losing value. Everyone should try at least one lease in their lifetime. Maybe you have an attachment disorder and you like holding onto things for awhile. In that case, a lease may not be for you. But it is worth the research...

Never rush the process. If the dealership will not work you with go to another dealer. Also, try to go at the end of the month because salesman are trying to get as many sales as they can at the end of the month.

Need any other information, email me any time at jamaldstrickland@gmail.com