What are the disadvantages of getting a car lease with an option to buy?

Answer by  DtheM1 (1150)

If you are going into a lease with the intention of buying after, you're better off just buying. Leasing and then buying is always more expensive than outright buying.

Answer by  azchemfreak (95)

A disadvantage is that by purchasing straight away as an option, you do not get to build up your credit rating which otherwise happens when one takes out a loan

Answer by  shan698 (6)

If you use your vehicle for more than 20000 miles a year, you are going to pay more per every kilometer you are going to drive after that.

Answer by  PGR (74)

The option to buy is simply a right to purchase a used car at market value, and if the mileage is low the price will be high. On the other hand, if the mileage is high - exceeding the limit in the lease - you may be oblgated to pay an additional charge if you do not purchase the car.

Answer by  sellinghousesforyouyahoocom (48)

The first disadvantage is not owning the vehicle during the period of the initial lease. Secondly, you are basically buying the car you have been driving for a second time.

Answer by  kaboom969 (242)

The biggest disadvantage of getting a car lease is the high interest rates that you'll have to agree to compare with car financing or getting a loan from the bank to buy the car. Other disadvantages include the distance restrictions you're allowed to travel during the period of the lease, and keeping the car in reasonably good condition

Answer by  timhood (43)

Generally, there is no disadvantage of getting a lease-option on an automobile. Be sure the check that the purchase option does not otherwise change the terms of the lease. You should not have to pay a higher rate for a lease option.