NEW YORK -- To lease or buy can be the biggest question facing someone looking for a new vehicle, especially these days, as lease rates keep creeping up to the highest rates in more than a decade.
There are excellent reasons for either. Those who lease always have a new car; those who buy can drive back and forth across the country with no worry their mileage allotment will be passed.
James Bell, head of consumer affairs at General Motors, says it boils down to what the prospective driver requires of a vehicle.
"Leasing vs. buying ultimately comes down to to the expected usage by the driver as well as their personal tastes and habits. Love that new car smell? Lease. The kind of person that enjoys maintaining a car for many miles? Buy," Bell says.
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