Money Savers: Buy or lease a car? скачать в хорошем качестве

Money Savers: Buy or lease a car?

For some people the thought of getting a new car can be stressful. There are many options and plenty of decisions to be made. A common consumer conundrum is deciding whether to buy or lease your next car. "In general, it's always better to buy," said Nicole Middendorf, CEO at Prosperwell Financial in Plymouth. "Get rid of that payment." Middendorf recommends buying a car with low mileage. "Some assets go up, like your home over a period of time," Middendorf said. "Cars don't. Those depreciate, so it's not smart to pay full price." The temptation for some is to buy that shiny, brand new car, but the shine starts to fade once you drive it off the lot. "In general you should buy," Middendorf said. "That's the best thing to do, but don't go out and buy a brand new car, that's not a smart purchase. If you buy one that is one to two years old, someone else has taken the depreciation." Leasing pros and cons The caveats to leasing are always having a payment, never owning the car and being capped on yearly mileage. "If you drive too much and you're going to the cabin every weekend it's going to cost you," said Scott Lambert of the Minnesota Auto Dealers Association. "There are penalties to pay." Lambert believes the decision to buy or lease comes down to your own personal situation. "It really depends on your lifestyle and how much your going to drive and how much you want to spend monthly on a car," Lambert said. According to Experian Automotive, car leasing has hit record numbers, topping out at 26.7 percent for the first three months of 2015. "Leasing is back," Lambert said. "There's a lot of really good lease deals right now. If you want what ever is new and cool, leasing is really a pretty good way to go." Eric Nelson, reporting http://www.ccxmedia.org   / ccxmedia.org     / ccxsports     / ccxnews   Learn about our mobile app - http://bit.ly/CH12app Channel 12 is on Comcast cable in the northwest suburbs of Minneapolis and includes the cities Brooklyn Center, Brooklyn Park, Crystal, Golden Valley, Maple Grove, New Hope, Osseo, Plymouth and Robbinsdale.