Car advice

[markem]

I leased a car from a while back. Two things to consider:

1. NO MATTER WHAT, you have to pay the lease. While I never had a bad accident, I have been told stories from people about how the payout from the insurance company didn't come close to fulfilling the lease requirements.

2. The amount of miles per year is negotiable. I negotiated mine up by 3K per year. Hit the number almost on the nose when I turned it back in at the end.

If you can afford a buy, I would go that route for many reasons, but most probably the flexibility to pay it down early and save some dollars. If the dealership doesn't have a relationship with your bank, then go ask the bank about interest rates and also see if they have a buyers program.

Do not under any circumstances lease a car until you have had a private conversation with your insurance agent.

One last item: be sure that the lease spells out exactly how "book value" will be determined at the end of the lease. It used to be that they'd look around for the highest value even if that didn't match your car's condition.