Auto Lease Vs Buy -

: Most leases impose strict mileage limits (typically 10,000–15,000 miles per year) and fees for "excessive wear and tear" or early termination.

For a personalized analysis, you can use the Auto Lease vs. Buy Calculator from Navy Federal Credit Union to input specific tax rates, cash rebates, and depreciation assumptions. auto lease vs buy

Purchasing a vehicle—whether through cash or financing—is an investment in an asset that you will eventually own outright. : Most leases impose strict mileage limits (typically

: You retain the "residual value" of the car. When you are ready for a new one, the trade-in value of your current car can serve as a substantial down payment. Comparison Summary Table Buying (Financing) Monthly Payments Typically lower; covers depreciation. Typically higher; covers full price + interest. Ownership None; car is returned to the dealer. Full ownership once the loan is cleared. Mileage Limited (e.g., 12k miles/year). Unlimited. Maintenance Often covered by warranty/service plans. Owner's responsibility after warranty expires. Long-term Cost Most expensive way to drive over 10+ years. Cheaper over time as payments eventually stop. 3. Making the Choice: Which is Right for You? Lease if you: Drive less than 12,000 miles per year. 12k miles/year). Unlimited.

Want to drive a new car every 2–3 years with the latest safety tech.