Leasing a Car
22. Do you drive a lot of miles every year? Consider a high-mileage lease. It may cost you less over three years than buying and then trading in a high-mileage car.
23. If you trade in your car every three years or so, it may make more sense for you to lease a car. You'll likely have a lower cost over the three years and if you decide you'd like to keep the car longer than the term of your lease, you can buy it when the lease is done.
24. If you've gone over your lease mileage limits and buy the car out, you will have no over-mileage penalties.
25. You can buy out your lease at any point during the lease contract. Don't ever think you're "stuck in a lease."
26. If you are budget-conscious or can't afford unexpected expenses, leasing an inexpensive car may be a good alternative to financing a $6,500 used car with high mileage, for example. You will save the cost of upkeep and if you lease for three years, the car will be under factory warranty the whole time.
Buying a Used Car
27. If you can choose between a certified pre-owned (CPO) car and a non-CPO used car, go with the CPO. The selling price will likely be higher, but there are some significant benefits beyond just the extended warranty that comes with a CPO car. Carmakers review vehicle history reports for past problems and pay close attention to overall vehicle appearance.
28. If you're financing your used-car purchase, you're likely to get a lower APR on the CPO car, which can help you save interest charges over the life of the loan.
29. Leasing a recent model used car is often possible, and can be a fantastic idea since it's a newer car for less money. If you're shopping at a new-car dealership, ask the sales staff if it also leases used cars.
30. Don't try to pick apart a used car in hopes the dealership will offer a dramatic discount. The dealership is likely aware of every scratch, ding or dent. Instead, ask the dealership to fix the problems, if possible. Remember, though, that all used cars will have signs of wear. They're used.