Is it better to lease or buy a first car?

For first-time car owners, buying a reliable used vehicle outright or financing a dependable new car is often more financially sensible than leasing, primarily because new drivers tend to have less predictable mileage patterns and may exceed lease mileage limits. Leasing is a better fit for a first-time driver who has a consistent, predictable commute and knows their annual mileage will stay within the lease allowance. For parents co-signing or buying a first car for a teenager, a modestly priced used vehicle in the $15,000-$22,000 range from Honda or Toyota offers the best combination of safety, reliability, and manageable cost.