Buying a Car: An Excel™lent Adventure

car lot

Which car?

used car lot

New or Used?

Look! Financing available!

Financing

Hummer: Lease or Buy?

Lease or Buy?

 

For sale by ownere car

Keep or Sell?

PT Cruiser: Selling your parents

Making the Case

 

What About Leasing?

      Leasing is a popular option, especially since cars have become so expensive. What are the pros and cons of leasing?

      Eastern Michigan University has provided  a worksheet with some guidelines for thinking about buying versus leasing. Fill it out to start this section. Then look over the Federal Consumer Leasing Act Disclosures we’re providing. What do the terms mean? Cars.com has a plain English explanation of the terms (Cars.com, Smart Money has information and the Motley Fool has some practical, cynical definitions and examples . A more positive, but still honest, look at leasing is at the Leasingguide.com Once you are familiar with the terms, get the basic information you need to compare leasing and buying by going to Leasecompare.com Set up a spreadsheet with the basics and get more details for comparison at Bank Rate’s Lease or Buy page and their calculator at    Make a graph showing the difference in monthly rates and total cost of ownership over the time of the lease.

      Based on what you’ve learned about leasing, write a 1-2 page summary of the reasons why buying or leasing best fits you. Support your reasons.