What is Leasing and how does it work?

A car lease is simply an opportunity to drive a brand new car for a couple years while maintaining flexibility in your options. You do not own the car in that duration, but you're responsible for it. Think of an in-between of renting and owning.

Should I buy a new car?

Buying a new car is becoming expensive but if you know this purchase will be something you keep for 8+ years, then it makes sense. Why 8+ years? Well, the average finance term is typically 72 months, meaning if you're going to carry a monthly payment for that long, you need at least a few years of the car being paid off to really reap the benefit of 'owning a car'.