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Leasing Versus Buying?

Updated: May 27, 2019

Leasing could be beneficial for senior citizens on fixed incomes or for those who want a shorter financial commitment. Leases generally have lower upfront costs and lower monthly payments than buying the same vehicle because you're only paying for the time you have it, and many lease terms last for three years or less. Things can change quickly as we age, so having a shorter time and money commitment can give you the freedom to adapt to unforeseen changes such as severe declines in vision or mobility. While there are termination charges for ending a lease early, you won't have to deal with selling or trading in the car. And, if you decide you do want to buy the car you're leasing, you have that option.


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