Lease or buy???

[APACHE3]

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As an intern, I will have limited funds. Prior to starting my new job next July, I need to buy a house and not one, but TWO cars!!! (I'm moving my family from Europe) I've seen some lease deals that look appealing, and the monthly payments will be lower, but I've never leased, so don't know what to expect? Any suggestions? 😕

 

[gwen]

don't lease...buy. leasing is like renting a house for many, many years with nothing to show when the lease is up. but other ppl like having a new car every few years. you could easily buy a used, but nice car for a lot less than leasing. are you in the US or still in europe?

 

[APACHE3]

I am still in Europe but will be in states in December to interview. yes most likely, getting a used car in good condition will be best bet. I have two young children so I want to ensure at least one of our cars is safe! Ok, sorry for the strange post! back to studying! see ya

 

[LeoS]

leasing is like you renting the car for a duration of time when you are not sure that you would like to buy one.
Check this link about leasing

 

[texdrake]

As an intern, I will have limited funds. Prior to starting my new job next July, I need to buy a house and not one, but TWO cars!!! (I'm moving my family from Europe) I've seen some lease deals that look appealing, and the monthly payments will be lower, but I've never leased, so don't know what to expect? Any suggestions? 😕

Leasing isn't horrible, but it isn't always smart.

Many dealers now offer a Smart Lease.

A Smart lease allows you to pay a small downpayment ($1000) and a smaller monthly payment ($225 or so). Then after 3 or 4 years you have the option to buy for the remaining cost of the car.

I would go with the smart lease. Your payments are lower and at the end of the lease you can buy and finance out for 3 or 4 years if you want. Also in 3 or 4 years you will be out of residency likely and have more money to spend (pay off the car).