Please Help Read article on the previous page state which option buying or leasing would be better for the following scenarios. And why Buying Versus Leasing a CarThere are big differences between buying and leasing. Typically, if you were to purchase a new car,you would make a down payment and finance the remaining cost. At the end of the term, the carwould be yours. Leasing is essentially renting, with your payment going towards the car'sdepreciation. If the lease includes a purchase option, you may buy it at the end of a specific timeperiod.So which is better? That depends on your individual situation and needs. You will have to decide foryourself by analyzing the advantages and disadvantages of each:Leasing AdvantagesThere are short-term cost advantages to leasing. The monthly payments on a leased car are usuallyfar less than on a loan - even for a luxury model. The down payment usually works out to be lessthan what you would pay for a bought car as well. Because the typical lease is for three years, mostrepairs are covered by factory warranty. Sales tax is cheaper too, as you only pay it on the financedportion.An attractive feature of leasing is the ability to drive a new car every few years. You never have togo through the hassle of selling it; you just turn it in at the end of the term.Leasing DisadvantagesWhile the payments are often reasonable, you never gain equity in the car. If you were to buy it atthe end of your contract, it would cost you a lot more than if you had just bought it in the first place.Leases are restrictive. If you exceed the yearly mileage limit you will be assessed an extra charge.You must take good care of the car as well, as any nicks or dings will be considered "wear and tear"and will cost you.Comparing lease offers can be very confusing, making it hard to know if you got a good deal. Andyou will find it difficult to get out of your lease early if you want to a problem if your driving needsfinancial circumstances change.Buying AdvantagesWhen you buy a car, it's yours. You can customize it and drive it as hard and far as you want,penalty-free. Rather than having infinite payments, buying means you will eventually pay the car off.And if you want to sell it you can do so at any time, as you are not locked into a contract.Buying DisadvantagesDown payments on bought cars can be substantial. Monthly payments are usually higher than aleased car, and once your warranty expires, you will be responsible for the maintenance costs. Whenyou want to sell it (or trade it in) you will have to go through the hassle of doing so. And, as aninvestment, new cars depreciate rather than appreciate. A 30 year old business man who drives around all day from client to client.A college student who doesn't have much of a down payment, and a very limitedamount to spend per month.An auto mechanic, who enjoys doing all of his own repairs.Newlyweds, who want a sports car for now, but are planning on starting a family ina few years and will need a bigger car.Jeremy wants to put in a huge new stereo system and change the paint job.

Question

Please Help Read article on the previous page state which option buying or leasing would be better for the following scenarios. And why Buying Versus Leasing a CarThere are big differences between buying and leasing. Typically, if you were to purchase a new car,you would make a down payment and finance the remaining cost. At the end of the term, the carwould be yours. Leasing is essentially renting, with your payment going towards the car'sdepreciation. If the lease includes a purchase option, you may buy it at the end of a specific timeperiod.So which is better? That depends on your individual situation and needs. You will have to decide foryourself by analyzing the advantages and disadvantages of each:Leasing AdvantagesThere are short-term cost advantages to leasing. The monthly payments on a leased car are usuallyfar less than on a loan - even for a luxury model. The down payment usually works out to be lessthan what you would pay for a bought car as well. Because the typical lease is for three years, mostrepairs are covered by factory warranty. Sales tax is cheaper too, as you only pay it on the financedportion.An attractive feature of leasing is the ability to drive a new car every few years. You never have togo through the hassle of selling it; you just turn it in at the end of the term.Leasing DisadvantagesWhile the payments are often reasonable, you never gain equity in the car. If you were to buy it atthe end of your contract, it would cost you a lot more than if you had just bought it in the first place.Leases are restrictive. If you exceed the yearly mileage limit you will be assessed an extra charge.You must take good care of the car as well, as any nicks or dings will be considered &#34;wear and tear&#34;and will cost you.Comparing lease offers can be very confusing, making it hard to know if you got a good deal. Andyou will find it difficult to get out of your lease early if you want to a problem if your driving needsfinancial circumstances change.Buying AdvantagesWhen you buy a car, it's yours. You can customize it and drive it as hard and far as you want,penalty-free. Rather than having infinite payments, buying means you will eventually pay the car off.And if you want to sell it you can do so at any time, as you are not locked into a contract.Buying DisadvantagesDown payments on bought cars can be substantial. Monthly payments are usually higher than aleased car, and once your warranty expires, you will be responsible for the maintenance costs. Whenyou want to sell it (or trade it in) you will have to go through the hassle of doing so. And, as aninvestment, new cars depreciate rather than appreciate. A 30 year old business man who drives around all day from client to client.A college student who doesn't have much of a down payment, and a very limitedamount to spend per month.An auto mechanic, who enjoys doing all of his own repairs.Newlyweds, who want a sports car for now, but are planning on starting a family ina few years and will need a bigger car.Jeremy wants to put in a huge new stereo system and change the paint job.

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