What is the best way to purchase a new vehicle? Lease or buy?

If you have a stable income and don't want to spend too much deposit at one time, it is most cost-effective to choose installments.

If you have sufficient deposits, there is no doubt that a one-time payment is the most cost-effective.

The BEST thing is to buy a used car.  But if you want new and plan on keeping it a long time then buy.  Leases only make sense for a company that can write off the expense.

The only reason (other than businesses) lease vehicles if because they want more car than they can afford.

The problem is that you generally have to lay down some cash at the beginning, pay the lease payments for the term, and then at the end of the term they will hit you with charges for any damage/wear.

Your best bet is to save your money and buy a car with cash, but if you have to finance, talk to your bank to get an idea of how much you can afford.  Don't rely on a dealership to procure financing for you - and if they start talking about 'monthly payment' instead of *sales price* stop them immediately.

If you are bringing a trade-in, don't mention it until after you've negotiated a sales price.

"Leasing" and "purchase" should not be used in the same sentence. A lease is not a purchase... you're pretty much just renting the vehicle long-term. 

Yes, a lease CAN be a means to a smaller monthly payment, but you have nothing in the end to show for it... and sometimes can end up paying out the wazoo for going over mileage, damage to the vehicle, etc. It also takes good credit to lease, and most people don't understand that. They go in and play around with the online calculators, finding out that they leave out several variables that make the payment higher than they think. 

Do your homework. Leasing can be OK if you're writing-off the vehicle on your taxes, if it's used for business purposes. Other than that, it's usually not for everyone. 

You don't have a job, remember?

Lease with no down payment.

Anonymous My answers are being ghosted.

I still have trouble communicating on the comments below but I hope you can see my comments here

thats up to you

Make an outright purchase.  No monthly car payments needed.   Also, it is generally better not to purchase a brand new vehicle. You’re going to get hit with the depreciation. So it’s best to get a vehicle that’s a year old or so.

You can lease cheaper, but sometimes they make it hard to return the vehicle and have special charges at the end.