This is something I know little about, so I thought I'd toss it out to the community for discussion.

Example: A new Mazda MPV minivan costs about $35,000 (Canadian) to buy, at zero % financing over 4 years...meaning you pay $718/month over 4 years.

You can lease the same vehicle over 4 years for $463/month (again, Canadian), so over a 4 year period you would pay $22,224. That's $12,776 less to pay over the 4 years than if you buy, but you don't own the vehicle when it's all over.

So which is the better way?

I can definitely get 10 to 14 years of good use out of a new car, because I'm easy on cars. Now let's say just ten years for a $35,000 car...that comes to $292 per month...but...you've also got to service it, and I figure roughly $1,000/year for that (although less in the first 3 or 4 years)...so maybe add another $85/month in upkeep...so maybe it costs about $377/month over that ten years.

But when you lease, you've always got a quite new and (one would assume) reliable vehicle, and I know this: a car is NOT an investment, it's an expense.

Hmmmm? Whaddya think? Buy or lease? Which is the better way? Bear in mind that I am located in Canada. Things may be different elsewhere, such as in the UK, for example.

- LH