What is the difference between a lease and buying a car?

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asked Jul 31, 2019 in Buying & Selling by DonMoy7 (300 points)
What is the difference between a lease and buying a car?

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answered Aug 1, 2019 by LindaHartzell (26,630 points)
The differences between leasing and buying a vehicle are that with a leased car you're basically just renting the car and making those lease payments to the dealership without ever owning the car at all.

So you're really just renting the car when leasing it and are just renting the car on a long term basis from the dealership.

So you're making all those car payments for the leased car and you still don't own the car at the end of the lease.

With buying a car you make the car payments each month and then after the loan term is over with and you make all those payments the car is yours and you no longer need to make payments.

With a leased car you always have to make payments to the car loan lender or dealership and you have to make sure you bring the leased car back after the lease is up and the leased car has to be in good condition when you return the leased car.

I would rather buy a car so that I can do what I want to with it and don't have to keep the cars interior and exterior to the car dealerships liking.

And I wouldn't have to return the car to the dealership.

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