To Lease or Buy?

To Lease or Buy?
A noble question, for sure. But the answer really depends on your situation. Buying is often a cheaper option for the long term. Still, if you like a new car every couple of years, you may be better off leasing. Here are four questions to help you make your decision:
1. How many years will I have this car? If the answer is three or less, you're better off leasing. At four you could go either way. More than four, buy.
2. How many miles do I drive annually? If it's more than 15,000, you ought to buy. Leases usually figure on mileage of 12,000 to 15,000 a year. Drive more than that and you'll pay an additional 10 to 15 cents per mile. Ouch!
3. Do I take good care of my car? Be honest. If you're the kind of person who never misses an oil change and avoids curbs at all costs, you'll be fine when it comes time to return your leased car. But if not, buy. Otherwise, you could find yourself looking at a hefty bill for "excessive wear and tear."
4. Do I use my car for business? If yes, you may want to lease.