Amazingly low monthly payments might make leasing seem like a no-brainer. But a closer look at the related costs of leasing (and its long-term expense) might convince some people to return to the miser's favorite ride: a good used car.
Leasing is presented as a quick, easy and affordable way to get into a new car. And for many people it is. But there are some fees that people often don't take into account, and those can quickly add up. Furthermore, at the end of the lease term, you have to decide whether to start a new lease cycle. You might eventually become a "serial leaser": someone who always has a car payment. Over a lifetime of driving, this can be costly.
This isn't to say that leasing is a financial trap. It just might not be the best option for some people. Furthermore, if you look at your financial future and consider costs over years of vehicle ownership, there is definitely money to be saved by buying used rather than leasing new. This leaves you with a question: How important is it to always be driving a new car?