Should I Lease Or Buy My Next Automobile?

When deciding whether to lease or buy an automobile, it is important for you to consider your personal circumstances and preferences. There are advantages to both options, and the analysis is not just financial. With many factors competing for your attention, it can be difficult to identify the best course of action.

To help you make an informed decision, we have created the “Should I Lease or Buy an Automobile?” flowchart. This flowchart covers several key decision points, including:

Your budget and cash flow

Your anticipated mileage and use of the vehicle

Your interest in safety and technology features

The potential for depreciation

Your desire for flexibility in your vehicle ownership

By weighing these factors and considering your individual needs, you can make a more informed decision about whether to lease or buy your next automobile.

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Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.