Leasing versus buying a car?

Question

I just had my second car accident of the year.  First car accident resulted in my car being totaled.  Now it looks like they are going to total this car too.  For the record (and before I get nasty comments) neither accident was my fault.  I only got $8k for my first car, which wouldn't have paid for my car if I was to re-buy it.  I am worried that I won't get all my money back from this car, so I might not even have $8k to put down on a car.  I don't know much about leases, so I'm hesitant to do that.  Thoughts on leasing versus buying. . . .

TiggyWiggy · Accepted Answer

Leasing works great for some people, but not for everyone. Read this article and decide if it would work for you:

http://www.leaseguide.com/lease03.htm

? · Answer

if you lease you pay and give it back at the end assuming the car makes it if you buy it it is yours till you sell it and the banks if there is a loan but you earn money on buying lose it on leasing after you pay it off you can sell it and buy another new one with the money from selling old one so over time you get new car with smaller payments good luck  sorry had to you know

KenAn · Answer

Well, you can only lease a new car, so if you total it, you might end up owing a lot more.  You already know how totaling a car you bought works.  Here is how it works if it happens to a leased car.

http://www.ehow.com/about_5110019_happens-total-leased-car.html

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Leasing versus buying a car?

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