EXPERT EXPLAINS! Should You Buy, Finance or Lease Your New Car!

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In this video I review the options of buying a new vehicle in cash, financing it, or leasing it.

There are many pros and cons to acknowledge. You will have a better understanding of which route is best for you once you understand what the purpose for the new vehicle is, and what your intentions for it are.

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Pay cash but don’t tell them until after negotiations. Also, stick to your budget and don’t accept extras, warranties or “documentation fees”. The consumer is in the driver’s seat, dealers need to remember this.

davidp.

Leasing is a cycle where you never stop making payments. If you have the cash it’s best to pay it all outright. Leveraging may be good but the interest on car loans or lease will always be higher than interests on High Yield Savings or CD’s so use the cash!

Any dealership personnel will want you to lease. It guarantees you will be back inside their doors and you end up with less value or none at the end. Stop buying cars every couple of years!

Outsider.Reviews

I’d never pay cash for a car because it’s risky. The dealer won’t give you the title. While leasing does work for some I always finance and pay it off quickly. I won’t start paying down the loan until DMV issues the E Title in my name. Dealers generally will give you a better price if you finance. If you pay cash and there is a problem with the title or the dealer goes under you could be out the cash and the car.

tbrnilq

The numbers aren't making any sense IMHO. More opinion expressed than data.

1) Toyota rates are 4.99% for 60 months for a 2025 Camry. I can get 4.4% interest on my savings. More if I locked them down for a period. So cash versus finance is essentially awash. Stock markets pay back only over the long term. Risky over 60 months!
2) Leasing works out better than financing if the resale value of the vehicle is going to be poor. Not so applicable to Toyotas
3) Leasing is not at all appropriate when you drive significant miles per year
4) Financing or leasing is useful to maintain or build credit history, whereas cash does nothing for that.
5). Whatever you do you'll lose money in a vehicle. Typically $2000/$3000 per year over the long term and much higher if you trade after just 3 years.

Everyone needs to review their own situation and decide what's best for them.

Initial outlays, savings, interest rates, monthly payments, miles per year, accident/vehicle damage risk, model resale value, tenure of vehicle, condition of vehicle at resale, etc.

Do your research!

AllenReinecke

Great information, thank you. I have so far avoided leasing because I have a history of driving a lot of km’s per year. I will consider leasing in the future.

wafflesca

lease is better IMO. Like no matter the brand after a few years you are just paying for new brakes, tires, the car will slowly brake down and become a headache to fix no peace of mind. I'd rather pay money to get a reliable source of transportation everytime as when you lease you always get a brand new vehicle.

backtoshallabal

Leasing, cheaper monthly payment, but a never ending car payment, no thanks.

euci

Thank you for the straight unbiased explanation -:)

garystar

Get 2% on gic And finance for 7 % . That does not make any sense 😕

bradhewitt

Don’t lease ever! If your plan is to long term own the car, dealerships will make you add dumb upgrades on a lease. They will also require you to have a more expensive insurance to protect their vehicle. Don’t lease. Dealerships only want you to only think about payments. I paid off my car 6yrs ago. Trust me you can pay for any repair with money in your pocket from not giving it away to a new car every 4 years.

andya

Hey Marcello, can you explain why multiple security deposits maxes out at different amounts? For example, the Tacoma off-road premium maxes out at $5500. The Highlander LE max is out at $7500 and the Highlander LE hybrid maxes out at $10, 000. Thanks for the reply.

Ryan-cflc