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People oftentimes comparing
leasing a new vehicle with purchasing a used vehicle make
the mistake of only comparing the lease payment with their
monthly loan payment. In reality there are several
other factors that affect the total cost of ownership.
In most cases new vehicles will get better gas mileage than
older ones. With the high cost of gas, this difference
can have a bigger effect than you think. A newer
vehicle will have higher insurance costs and property taxes,
but will have lower repair and maintenance costs.
The only way to really make a fair comparison is to run a
comprehensive analysis. Our calculator below enables
you to enter all of the applicable variables and allows you
to make an informed decision.
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