Why You Should Never Lease A Car When Money Is Tight!

Leasing a car is a great option for many people. You can get a brand new car every few years, the payments are low, and you don’t have to worry about repairs.


So it would make sense that this is a great option for people struggling with debt, wouldn’t it?

Because when money is tight, car payments and car repairs are often the biggest culprit.

And that’s exactly why leasing a car is a bad option for people struggling to pay their bills. I know it’s tempting. And in the short term, it will probably help you out.

But when you lease a car, you usually need to put down a significant down payment to get the low monthly payments. And where will this money come from? If it comes from savings, then take the money and buy a car. Or use it to pay off your credit card debt.

If the money comes from a credit card, now we’re talking about a real big financial mistake!

And what happens at the end of the lease? You either need to lease another car. Or buy the car outright. Either way, you’ll have car payments for another 3-5 years. Or longer! Because when you lease, you never get the benefit of owning the car, and eventually NOT having to make payments.

And this is not helpful for someone with money problems and credit card debt.

So what should you do?

Buy a used car. You can get a car loan online from websites such as eloan.com and carloan.com. You don’t need to make a down payment, and you can usually get pretty good rates. Then you can shop around for a car you can afford. Most car dealerships will offer at least a short-term warranty to protect you from walking out the door and having the car fall apart.

And then you’ll have your reliable car – without making a down payment – without getting ripped off by the car dealership “loan department” – and you’ll be on your way to owning the car!

By: Kris D. Bickell

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