00:00coinage life well spent presented by Geico trying to decide if you should
00:06lease or purchase a car leases generally come with a series of upfront costs
00:10sort of like an apartment drivers can expect to fork over first month's
00:14payment security deposit and down payment when buying your own car you'll
00:18either pay cash for the full amount or make monthly payments that include
00:22interest after making a down payment monthly payments on a purchased car are
00:26typically higher since you have to pay off the full price of the vehicle and
00:29pay for the financing through interest lease payments are slightly cheaper
00:33because you're only paying for the car's depreciating value if you decide
00:36halfway through the lease a Nissan Maxima isn't your kind of ride a lease
00:40termination will cost you they're almost as much as the entire lease payment with
00:45a car you've purchased trade-ins can happen at any time purchasing your own
00:49car allows you to rack up as many miles as you want with the leased car you have a
00:53set limit of miles you can drive typically it's between 12,000 to 15,000
00:58miles per year trying to go full exhibit and want to pimp your ride only
01:02purchased vehicles can get away with a customization
01:04leasees need to be able to return the car back in its original state sans decals or
01:09a shag carpet so if you want to have a brand new car every few years and
01:13don't drive long distances lease if you want to keep your car for a while and
01:17save money in the long run bye coinage life well spent presented by geico
01:24geico
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