Tips on Buying Cars: Buying or Leasing, ford windstar, good options


Question
I have a Ford Windstar 1998 with about 50,000 miles and I owe about $10,000 on it.  I want to change it for a newer minivan.  I do not know if it is better to buy another one or lease it.  I went to couple of dealers in Florida.  They offer to get my minivan, pay its balance, and with about $2,000 extras in cash get me a new one for about $500 in a lease (it sounds like a bad business to me).  What do you think?  What is better lease or buying?  How could I make a good business (I do want a new minivan)

Thank you

Answer
This is a hard one, you are what we call "burried" you owe more than your trade is worth. Leasing and buying are both good options but only if you ar not carrying money over from the old deal. If I were you I wuould stay in your van as long as I could. i would drive it until 90,000 or so to get your money out of it. Please rate my answers.