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Finance or lease?

LegacyUser · 2007-07-11 12:29:59

Motor lease or finance? I had a conversation with a friend yesterday and she was telling me that they are going to trade up their car but rather than take out finance/car loan and they are opting for leasing. The reason for this is that the repayments on the lease would be the same as the car loan except that they could…

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11-07-2007 1:29pm

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LegacyUser

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Motor lease or finance?
I had a conversation with a friend yesterday and she was telling me that they are going to trade up their car but rather than take out finance/car loan and they are opting for leasing. The reason for this is that the repayments on the lease would be the same as the car loan except that they could get a younger/more expensive car, and they could upgrade it every 2 yrs. Is this possible or advisable as they will never own their car? Are there any pit falls with this? I feel she maybe getting into something that is not what it seems, as if it was would the general public not just lease their cars rather than finance?

Any info would be grateful as I would consider this option if it is a good deal.

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