Should I lease a car or I must purchase it? The answer to this question is dependable on two factors. One factor is your finance and second is the motivation factor.  

Normally when a person gets a car on lease, he needs to pay the down payment. When he purchases a car whether he needs to pay the full payment or he needs to take loan for purchasing the car. He also gets insurance along with leased car like RTI insurance. This scenario is referred towards the cars of the same model.

When you are going to lease the car of the model 1994, its down payment will be much lower than the car of the model 2004 but the maintenance cost of 1994 car will be much higher than the 2004 car. In addition to this, when you get a leased car they have a warranty of 3 years and the car is completely covered for any problems.

One more advantage of getting a 12 month car leasing is that you need to pay lower installments per month as compared to purchasing car with the help of loan. Unluckily when the lease period ends you have to return the car. You can’t even use it as collateral or personal contract hire if you are planning to take some loan.  

The motivational factor is also important in this decision. You need to ask yourself what is your purpose of purchasing a car. If you want it for your convenience purpose then you must not care for model of car but if you want to have car for image purpose then of course you would like to have latest. So the decision is all yours.