What are the advantages & disadvantages of leasing a new car?

I am struggling finanically. I have a 2006 Nissan Altima. I have not even paid 24 months on it yet, and I have a 72 month financing. The dealer said they would write off the rest of the amount, if I got another car through them.

I am considering leasing a car for a maximum of 3 years. What are the guidelines when leasing a car?

Also, what are the advantages and disadvantages of leasing?

Best answer goes to the most informative and thorough answer. Please don't direct me to a site. I want opinions from real people who know the industry or have leased before.

That's a good deal that the dealer agreed to write off the remaining amount on the car. Now that set aside, you have to know what you can afford, not just now, but next year and the year after that. How much will your monthly payments be? How much interest are they charging? You must have good enough credit to lease a car, and must have steady income. My advice is that if you are struggling financially, don't try to get a brand new nice looking fancy car. Look at cars that are a few years old, as in early 2000's. They will cost less, but still be reliable. I don't know what dealer you are going through, if they would have anything like that, but look at the options and see if you can find something more affordable. Then in a few years if you are not having as much difficulty with your finances, you will hopefully have this vehicle paid off and you can trade it in for something newer. The biggest advantage of leasing is that it gives you good credit if you make payments on time. The disadvantage is that it will give you bad credit if you don't. Good luck to you.


And by the way, donutmai...whatever guy, quit answering questions with youtube links about something that has nothing to do with the question. im flagging your answer for removal.

That's a good deal that the dealer agreed to write off the remaining amount on the car. Now that set aside, you have to know what you can afford, not just now, but next year and the year after that. How much will your monthly payments be? How much interest are they charging? You must have good enough credit to lease a car, and must have steady income. My advice is that if you are struggling financially, don't try to get a brand new nice looking fancy car. Look at cars that are a few years old, as in early 2000's. They will cost less, but still be reliable. I don't know what dealer you are going through, if they would have anything like that, but look at the options and see if you can find something more affordable. Then in a few years if you are not having as much difficulty with your finances, you will hopefully have this vehicle paid off and you can trade it in for something newer. The biggest advantage of leasing is that it gives you good credit if you make payments on time. The disadvantage is that it will give you bad credit if you don't. Good luck to you.


And by the way, donutmai...whatever guy, quit answering questions with youtube links about something that has nothing to do with the question. im flagging your answer for removal.

you cant do this http://www.youtube.com/watch?v=rRJGd3p2tcQ&feature=channel_page