Ask Slashdot: Is Leasing a Smartphone Better Than Buying One? (cnbc.com)

An anonymous reader writes: The biggest benefit with a lease program is you have the option of upgrading to a newer phone model, usually after just a year. You don't get that option when you buy. But with a lease program, although it may be cheaper, you have to return the phone at the end of the agreement or when you upgrade -- meaning you can't pass it off to your child or sell it. So rather than leasing, buying may be a better option. But a New York Times column makes case for why leasing is the right way to go about it. I wanted to check with Slashdot readers, what do you prefer and why?

Comments

Re:I almost always lease...

[bobbied]

Seriously?

If it's cheaper to buy over the life of the item you use than to rent, BUY. Appreciating Asset or not.

I would think better advice is thus:

1. Don't ever borrow to secure items that cannot secure the loan used to buy them. (I.E. Only buy real property on time.)

2. Never owe more on an item than it's worth.

Followed up by:

NEVER charge to unsecured debt if you cannot pay it off at the end of the month (i.e. pay cash).. And, if you don't want to live in fear all your life, always put aside money for saving every month so you can deal with the unexpected when it comes, because it will.