Final Project So, to buy or not to buy, or as many economists may say, to lease or not to lease? From this very first statement, one should be able to get the drift. All that aside, it is very clear in my mind that I would opt to buy rather than lease a vehicle. It is generally quite simple. The lease process has many economic benefits over buying. Leasing actually enables you to test out cars before you decide to buy them. This means that the periodical payments are way less than that of loan financing. The only major drawbacks are that you do not get to own the vehicle. It belongs to the dealership. There will most probably be mileage limits on the vehicle as well making it impossible to travel far with the car. Buying however involves more spending, but, one gets full ownership meaning you can do whatever you want with the vehicle including modification, destruction and even disposal. Leases are generally for people who may want to possess a vehicle, those who have a fixed predictable income and also don’t want to meet other periodical vehicle costs like insurance and vehicle tax. With that said, it is still well decided in my mind that I would prefer to own rather than lease a car