Buy or lease a car?

Every couple of years I consider leasing a car – mostly for business purposes.

If you want to keep monthly expense low, a typical lease is up to 60% lower than monthly payments.

While my credit is good, I found out when shopping with a family member that you pay a lot higher lease rate with a credit rating under 620, if you can get a car at all. One dealer wanted 25% interest. The best rates are available for credit scores above 660.

Buying a vehicle and driving it for several years seems to be the cheapest way for many.

– Edward Stevens, Stevens Strategic Communications