Should I Lease or Buy a Car?
Lease if you drive under 12,000 miles per year, want a new car every 2–3 years, and value lower monthly payments. Buy if you drive over 15,000 miles per year, plan to keep the vehicle 5+ years, or want to build equity. A practical framework based on driving miles, holding period, and total cost.
When leasing wins
Leasing covers the depreciation period when cars lose value fastest. You get warranty coverage the entire term, lower monthly payments, and a fresh vehicle every few years. Best for predictable, lower-mileage drivers.
When buying wins
Ownership builds equity. Once paid off, you have years of payment-free driving. Better for high-mileage drivers, families that beat up vehicles, or anyone who keeps cars 7+ years.
Frequently Asked Questions
Do dealers really have flexibility on price?
Sometimes—depending on supply, incentives, and timing. The best approach is to focus on the out-the-door number and compare competing offers.
Is financing through the dealer always worse?
Not always. Dealers may access multiple lenders and incentives, but you should compare with your bank or credit union.
What matters most when comparing deals?
Out-the-door price, total cost over time, interest rate, fees, and any conditions tied to incentives.
How does COD help car shoppers?
COD is built for dealer-authorized offers that are limited and clearly redeemable, helping shoppers find legitimate promotions by city.