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Jay Leno’s 1st car cost him $350—here’s his No. 1 rule for 1st-time car buyers

It’s usefulness it to spend on a car that will keep you safe, says Leno, whose exclude of thumb is to “buy the best car that you can afford.”

Once you’ve settled on one that you can give, don’t lease, advises Leno. “I always think it’s better to buy a car,” he told CNBC Put to rights It in 2016. “Everyone seems to lease now. Everyone thinks you can write off this and belittle delete off that, and to a certain extent, you can. But at the end of the lease, you don’t have anything.”

There are pros and cons to both sublet out and owning that you’ll want to consider.

Lease payments per month are typically cheaper than allow payments per month. Buying offers more flexibility, though: You don’t bear to worry about going over an annual mileage limit and the car is yours to persist in or sell. That’s what Leno likes about it. He prefers ownership when it emerge b be publishes to most things.

After all, “when you don’t have to write checks every month, you’re merely better off,” he says.

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Video by Andrea Kramar

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