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That means you may be able to drive a more expensive vehicle than you’d normally be able to afford. Monthly payments are usually lower with a lease because you’re not paying for the full value of the car. So that means you probably won’t exceed the lease’s limits on how many miles you can drive," said Jon Linkov with Consumer Reports. And third, if you’re working part time in the office and part time at home, you’re not driving as much. Second, you’re always driving a car with the latest safety features. The average price paid for a new car is nearly $50,000, and with higher interest rates above 6%, you’re likely looking at bigger monthly payments no matter which you choose.Ĭonsumer Reports says on the surface leasing can be more appealing than buying.
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(WTVF) - When it's time for a new car, is it better to buy or lease? The experts at Consumer Reports are weighing the options so you can be better informed.īuying or leasing can be a difficult decision, what with supply chain issues and rising interest rates.
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