When deciding whether to buy or lease a car, Hobson says the most important factor is how long you intend to drive it for. If you plan to drive the car for five years or more, it makes more sense to purchase the car.
If you decide to lease, here's what you should look out for:
![](\"http://a.abcnews.com/images/site/img_bullet_orangedot.gif\")
Know how long the lease is for and the maximum amount of mileage you get.
Find out about any kind of special perks the dealer will give you.
Ask about early termination. What happens if you turn the car in early? Sometimes those costs can be quite high.
CLICK HERE for Mellody's advice on avoiding car loan debt.
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