Friday, November 18, 2011

Antarctica's Gamburtsev Subglacial Mountains mystery solved

Antarctica's Gamburtsev Subglacial Mountains mystery solved [ Back to EurekAlert! ] Public release date: 17-Nov-2011
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Contact: Deborah Wing
dwing@nsf.gov
703-292-5344
National Science Foundation

Multiple ancient tectonic events may have formed youthful looking mountain range

National Science Foundation- (NSF) funded researchers may have at last answered a 50 year-old conundrum. They may now know how Antarctica's Gamburtsev Subglacial Mountains were formed, which has been a question for scientists since their discovery in 1958.

Researchers involved in a highly complex research deployment to the Gamburtsev Subglacial Mountains, a centerpiece of the 2007-2009 International Polar Year (IPY), conclude the mountains formed as a result of multiple tectonic events, rather than a single event.

This week's journal Nature reports the findings.

According to the researchers a remarkably long geological history explains the formation of the mountain range buried beneath the vast East Antarctic Ice Sheet in the least explored frontier on Earth, where the Antarctic Ice Sheet first formed.

By analyzing the new geophysical data that sharpened the view of the mountains, the researchers describe processes-which took place over the past billion years-that created and preserved a root beneath the mountains and the East Antarctic rift system--a 3,000-kilometer-long long fracture in the earth's surface that extends from East Antarctica across the ocean to India.

One billion years ago, before animals and plants evolved on Earth, several continents (or micro-continents) collided, pushing up a mountain range and forming a thick crustal root. While the mountain range eroded away, the root was preserved. Over time, events rejuvenated the roots and rifting allowed more uplift to reform the mountains and the ice sheet preserved them.

Around 250-100 million years ago--when dinosaurs walked the Earth--rifting paved the way for the supercontinent Gondwana to break apart, which included Antarctica, causing the old crustal root to warm. This rejuvenated crustal root, together with the East Antarctic Rift forced the land upwards again reforming the mountains. Rivers and glaciers carved deep valleys and this helped uplift the peaks to create the spectacular landscape of the Gamburtsevs, which resemble the European Alps. The East Antarctic Ice Sheet, which formed 34 million years ago and covers 10 million square kilometers of our planet, an area the size of Canada, protected the mountains from erosion.

NSF led the multi-national effort and was the lead U.S. agency for the IPY, a concentrated deployment by scientists of 60 nations to the Polar Regions. NSF's Office of Polar Programs also manages the U.S. Antarctic Program, though which it coordinates all U.S. research and logistical support for science on the southernmost continent and its surrounding oceans.

During IPY, a seven nation team made up the Antarctica's Gamburstev Province (AGAP) project, consisting of scientists from Australia, Canada, China, Germany, Japan, the United Kingdom and the United States. Team members explored the Gamburtsev Subglacial Mountains, which are buried beneath up to three kilometers of ice, by using two twin-engine aircraft equipped with ice penetrating radars, gravity meters and magnetometers.

"Resolving the contradiction of the Gamburtsev high elevation and youthful Alpine topography but location on the East Antarctic craton by piecing together the billion year history of the region was exciting and challenging," said Carol Finn, of the U.S. Geological Survey, a co-author on the paper. "We are accustomed to thinking that mountain building relates to a single tectonic event, rather than sequences of events. The lesson we learned about multiple events forming the Gamburtsevs may inform studies of the history of other mountain belts. The youthful look of any mountain range may mask a hidden past."

Scientists noted that the results have a special significance in a year that marks the centennial of the achievement of the South Pole by Norwegian Roald Amundsen. Historians acknowledged that his rival in the quest for the Pole, Briton Robert F. Scott, and his party helped lay the foundations for modern Antarctic science in their trek by making systematic scientific observations of various phenomena. Although Scott and his men perished en route back from the Pole, they did not abandon fossils and rocks gathered on their journey as a legacy to scientific exploration.

"It is very fitting that the initial results of the AGAP project are coming out 100 years after the great explorers raced to the South Pole," said Alexandra Isern, Antarctic Earth sciences program director in NSF's Office of Polar Programs, "The scientific explorers of the AGAP project worked in harsh conditions to collect the data and detailed images of this major mountain range under the East Antarctic Ice Sheet. The results of their work will guide research in this region for many years to come."

Robin Bell, of Columbia University's Lamont-Doherty Earth Observatory, U.S. AGAP co-leader, noted that another scientific challenge lying ahead in piecing together the Gamburtsev's story will be to actually sample the materials that form the mountains.

"The next steps will be to assemble a team to drill through the ice into the mountains to obtain the first rock samples from the Gamburtsevs, she said. "We have samples of the moon, but none of the Gamburtsevs. With these rock samples we will be able to constrain when this ancient piece of crust was rejuvenated and grew to a magnificent mountain range."

###



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Antarctica's Gamburtsev Subglacial Mountains mystery solved [ Back to EurekAlert! ] Public release date: 17-Nov-2011
[ | E-mail | Share Share ]

Contact: Deborah Wing
dwing@nsf.gov
703-292-5344
National Science Foundation

Multiple ancient tectonic events may have formed youthful looking mountain range

National Science Foundation- (NSF) funded researchers may have at last answered a 50 year-old conundrum. They may now know how Antarctica's Gamburtsev Subglacial Mountains were formed, which has been a question for scientists since their discovery in 1958.

Researchers involved in a highly complex research deployment to the Gamburtsev Subglacial Mountains, a centerpiece of the 2007-2009 International Polar Year (IPY), conclude the mountains formed as a result of multiple tectonic events, rather than a single event.

This week's journal Nature reports the findings.

According to the researchers a remarkably long geological history explains the formation of the mountain range buried beneath the vast East Antarctic Ice Sheet in the least explored frontier on Earth, where the Antarctic Ice Sheet first formed.

By analyzing the new geophysical data that sharpened the view of the mountains, the researchers describe processes-which took place over the past billion years-that created and preserved a root beneath the mountains and the East Antarctic rift system--a 3,000-kilometer-long long fracture in the earth's surface that extends from East Antarctica across the ocean to India.

One billion years ago, before animals and plants evolved on Earth, several continents (or micro-continents) collided, pushing up a mountain range and forming a thick crustal root. While the mountain range eroded away, the root was preserved. Over time, events rejuvenated the roots and rifting allowed more uplift to reform the mountains and the ice sheet preserved them.

Around 250-100 million years ago--when dinosaurs walked the Earth--rifting paved the way for the supercontinent Gondwana to break apart, which included Antarctica, causing the old crustal root to warm. This rejuvenated crustal root, together with the East Antarctic Rift forced the land upwards again reforming the mountains. Rivers and glaciers carved deep valleys and this helped uplift the peaks to create the spectacular landscape of the Gamburtsevs, which resemble the European Alps. The East Antarctic Ice Sheet, which formed 34 million years ago and covers 10 million square kilometers of our planet, an area the size of Canada, protected the mountains from erosion.

NSF led the multi-national effort and was the lead U.S. agency for the IPY, a concentrated deployment by scientists of 60 nations to the Polar Regions. NSF's Office of Polar Programs also manages the U.S. Antarctic Program, though which it coordinates all U.S. research and logistical support for science on the southernmost continent and its surrounding oceans.

During IPY, a seven nation team made up the Antarctica's Gamburstev Province (AGAP) project, consisting of scientists from Australia, Canada, China, Germany, Japan, the United Kingdom and the United States. Team members explored the Gamburtsev Subglacial Mountains, which are buried beneath up to three kilometers of ice, by using two twin-engine aircraft equipped with ice penetrating radars, gravity meters and magnetometers.

"Resolving the contradiction of the Gamburtsev high elevation and youthful Alpine topography but location on the East Antarctic craton by piecing together the billion year history of the region was exciting and challenging," said Carol Finn, of the U.S. Geological Survey, a co-author on the paper. "We are accustomed to thinking that mountain building relates to a single tectonic event, rather than sequences of events. The lesson we learned about multiple events forming the Gamburtsevs may inform studies of the history of other mountain belts. The youthful look of any mountain range may mask a hidden past."

Scientists noted that the results have a special significance in a year that marks the centennial of the achievement of the South Pole by Norwegian Roald Amundsen. Historians acknowledged that his rival in the quest for the Pole, Briton Robert F. Scott, and his party helped lay the foundations for modern Antarctic science in their trek by making systematic scientific observations of various phenomena. Although Scott and his men perished en route back from the Pole, they did not abandon fossils and rocks gathered on their journey as a legacy to scientific exploration.

"It is very fitting that the initial results of the AGAP project are coming out 100 years after the great explorers raced to the South Pole," said Alexandra Isern, Antarctic Earth sciences program director in NSF's Office of Polar Programs, "The scientific explorers of the AGAP project worked in harsh conditions to collect the data and detailed images of this major mountain range under the East Antarctic Ice Sheet. The results of their work will guide research in this region for many years to come."

Robin Bell, of Columbia University's Lamont-Doherty Earth Observatory, U.S. AGAP co-leader, noted that another scientific challenge lying ahead in piecing together the Gamburtsev's story will be to actually sample the materials that form the mountains.

"The next steps will be to assemble a team to drill through the ice into the mountains to obtain the first rock samples from the Gamburtsevs, she said. "We have samples of the moon, but none of the Gamburtsevs. With these rock samples we will be able to constrain when this ancient piece of crust was rejuvenated and grew to a magnificent mountain range."

###



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?


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


Source: http://www.eurekalert.org/pub_releases/2011-11/nsf-ags111711.php

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Thursday, November 17, 2011

[OOC] The Fugitives: Chapeter 1: The Escape

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Wednesday, November 16, 2011

Few advantages seen for Crestor over Lipitor: study (Reuters)

ORLANDO, Florida (Reuters) ? Pfizer Inc's Lipitor and AstraZeneca's Crestor cholesterol drugs, taken at their highest dose, safely reduced artery-clogging plaque in heart patients, according to data from a clinical trial presented on Tuesday.

Crestor outperformed Lipitor by some measures in the two-year study, but it is unclear whether the results will help AstraZeneca's sales force convince doctors and payers to use its drug as it competes with much cheaper generic versions of top-selling Lipitor.

"The differences between the two drugs were modest," said Dr. Stephen Nicholls, the primary investigator of the Saturn study who presented the data at the American Heart Association scientific meeting in Orlando.

Crestor has become AstraZeneca's biggest product, with annual sales on pace to exceed of $6 billion this year, but its growth and pricing are sure to be pressured by generic Lipitor, or atorvastatin.

AstraZeneca, which previously said its drug failed to show a statistically significant advantage in the study's primary plaque regression goal, was looking for a clear edge to differentiate Crestor from its chief rival before Pfizer loses U.S. exclusivity for Lipitor at the end of the month.

The results of the Saturn study may instead position Crestor as more of a niche product for high-risk patients unable to lower their cholesterol enough with other drugs.

"Clearly, generics have an important place, but there is an important place also for Crestor as well," AstraZeneca Chief Medical Officer Howard Hutchinson said.

While AstraZeneca's calculated bet to stand out when compared with Lipitor may not pay off, the data was good news for patients as both drugs reversed progression of heart disease, and at the highest doses, from which doctors often shy away over toxicity fears, proved to be safe taken for two years.

"What this study shows is that you can actually reverse the buildup of plaque in a majority of patients with coronary disease if you treat them very intensively with either of these two powerful drugs," said Dr. Steven Nissen, chief of cardiology at the Cleveland Clinic and the study's chairman.

Researchers found the safety seen with prolonged use of the drugs at the highest dose to be particularly reassuring.

The rate of heart attacks, strokes and other major adverse heart events were low for the patient population and nearly identical for the two drugs -- 7.1 percent for Lipitor and 7.5 percent for Crestor.

"In these patients in whom you're seeing a lot of regression they're not having events," Nicholls said.

"We were very struck by the fact that we could give over 1,000 patients the top doses of the most powerful statins and basically we didn't hurt anybody," Nissen added.

The 24-month study completed by 1,039 heart patients taking either 80 milligrams of Lipitor or 40 mgs of Crestor used intravascular ultrasound (IVUS) to measure changes in atheroma volume, or plaque buildup, inside a diseased artery.

The primary end point of the study was percentage change in atheroma volume, which Crestor reduced by 1.22 percent and Lipitor by 0.99 percent.

Researchers considered reductions from both drugs to be clinically significant. But the difference between the two medicines was not statistically significant and thus considered a failure by Crestor to prove superiority.

In a secondary goal measuring total atheroma volume Crestor did show a statistically significant advantage, reducing it by 6.4 cubic millimeters compared with a reduction of 4.4 cubic millimeters for Lipitor.

By one measure between 65 percent and 71 percent of patients in the study had plaque shrinkage.

"There were a lot of individuals who had regression of disease and the degree of regression was quite profound," Nicholls said.

In terms of cholesterol levels, Crestor lowered bad LDL to an average of 62.6 and raised good HDL to 50.4, while Lipitor lowered LDL to 70.2 and raised HDL to 48.6. Current guidelines call for LDL of 100 or lower and HDL of 40 or higher.

Crestor bested Lipitor on one safety measure with a statistically significant advantage in liver enzyme elevation of 0.7 percent versus 2 percent for Lipitor.

No serious muscle problems were observed with either drug, researchers said.

"This notion that high dose statin therapy being administered for 24 months was basically toxic to peoples' muscles was not the case," Nicholls said.

AstraZeneca shares, which fell about 4 percent when the initial result was announced in September, were up 0.3 percent in London on Tuesday.

(Reporting by Bill Berkrot and Lewis Krauskopf; editing by John Wallace and Maureen Bavdek)

Source: http://us.rd.yahoo.com/dailynews/rss/meds/*http%3A//news.yahoo.com/s/nm/20111115/hl_nm/us_heart_astrazeneca

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Gingrich in Iowa says GOP taking second look (AP)

WEST DES MOINES, Iowa ? Newt Gingrich is conceding that he made mistakes early in his campaign for the Republican nomination for president, but says his debate performances are leading voters to take another look at him.

The former House speaker has risen in national polls in the past week as former businessman Herman Cain has slipped. A new CNN poll Monday shows Gingrich almost even with former Massachusetts Gov. Mitt Romney. Cain is battling allegations of sexual harassment against women.

Gingrich spoke in Iowa at a Des Moines-area insurance company.

He's spending a few days in the state this week and expects to name an Iowa campaign team and open offices. He hasn't had either since a national and Iowa staff revolt last June.

The state's leadoff caucuses are Jan. 3.

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//news.yahoo.com/s/ap/20111114/ap_on_re_us/us_gingrich_iowa

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Tuesday, November 15, 2011

Russia Still Trying to Contact Stranded Mars Moon Probe (SPACE.com)

Russian engineers are still trying to communicate with a wayward Mars moon probe, and they have until early December to fix the spacecraft and send it on its way, according to news reports.

Russia's unmanned Phobos-Grunt spacecraft launched Nov. 8 on a mission to the Martian moon Phobos. The probe reached Earth orbit as planned, but its thrusters never fired to propel it toward the Red Planet. While all attempts to contact Phobos-Grunt since then have failed, the mission team hasn't given up hope, according to Russian news service Ria Novosti.

"We estimate that the Phobos-Grunt will fly until January, and to make it perform its mission we still have time until the beginning of December," said Vladimir Popovkin, head of Russia's Federal Space Agency (known as Roscosmos), according to Ria Novosti.

Changing the signal

Phobos-Grunt is currently zipping around Earth at an altitude of about 124 miles (200 kilometers). First contact with the probe was originally planned to be made at a much higher altitude, so engineers have scaled back the strength of the signal sent to the spacecraft, according to Ria Novosti.?

Phobos-Grunt weighs about 14.5 tons, and much of that weight is highly toxic hydrazine fuel. Some analysts have expressed concern that this fuel ? as well as pieces of the probe itself ? could pose a danger to people on the ground if Phobos-Grunt ends up crashing to Earth in a month or two.

But Popovkin downplayed those worries.

"There are 7.5 metric tons of fuel in the aluminum tanks on board. We have no doubts that they will explode [and destroy the probe] upon re-entry," Ria Novosti quoted Popovkin as saying. "It is highly unlikely that its parts would reach Earth."

Another Russian Mars failure?

The $163 million Phobos-Grunt mission aimed to land a probe on Phobos, scoop up some dirt and rock samples and send them back to Earth by 2014 ("grunt" means "soil" in Russian). The spacecraft is also carrying China's first Mars orbiter, a small satellite called Yinghuo 1, which was supposed to be deployed after Phobos-Grunt reached Mars in a year or so. [Photos: Russia's Mars Moon Mission]

Phobos-Grunt is Russia's first attempt at a planetary mission since 1996, when the Mars 96 spacecraft crashed into the Pacific Ocean. If Phobos-Grunt cannot be saved, it would continue Russia's long string of Mars failures. The nation has launched 18 other spacecraft toward the Red Planet since 1960, and not one of them achieved full mission success.

If Phobos-Grunt falls back to Earth, it would also mark the third such uncontrolled spacecraft re-entry in the last few months.

In October, a dead German satellite known as ROSAT fell over the Bay of Bengal after orbiting Earth for 21 years. And in late September, a defunct NASA Earth-observing spacecraft called UARS burned up over the southern Pacific Ocean. No one was hurt in either case.

You can follow SPACE.com senior writer Mike Wall on Twitter: @michaeldwall. Follow SPACE.com for the latest in space science and exploration news on Twitter @Spacedotcom and on Facebook.

Source: http://us.rd.yahoo.com/dailynews/rss/space/*http%3A//news.yahoo.com/s/space/20111114/sc_space/russiastilltryingtocontactstrandedmarsmoonprobe

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Monday, November 14, 2011

End of an era: Italy's Berlusconi resigns (AP)

ROME ? Italian Premier Silvio Berlusconi resigned Saturday after parliament's lower chamber passed European-demanded reforms, ending a 17-year political era and setting in motion a transition aimed at bringing the country back from the brink of economic crisis.

A chorus of Handel's "Alleluia," performed by a few dozen singers and classical musicians, rang out in front of the president's palace as thousands of Italians poured into downtown Rome to rejoice at the end of Berlusconi's scandal-marred reign.

Hecklers shouted "Buffoon, Buffoon!" as Berlusconi's motorcade entered and exited the presidential palace, where he tendered his resignation to President Giorgio Napolitano, the palace said in a statement.

Respected former European commissioner Mario Monti remained the top choice to try to steer the country out of its debt woes as the head of a transitional government, but Berlusconi's allies remained split over whether to support him.

Their opposition wasn't expected to scuttle Napolitano's plans to ask Monti to try to form an interim government once Berlusconi resigns, but it could make Monti's job more difficult.

Napolitano is expected to hold consultations Sunday with all of Italy's political forces before proceeding with his expected nomination of Monti. Late Saturday, Berlusconi's party said it would support Monti, albeit with conditions.

Berlusconi's resignation was set in motion after the Chamber of Deputies, with a vote Saturday of 380-26 with two abstentions, approved economic reforms which include increasing the retirement age starting in 2026 but do nothing to open up Italy's inflexible labor market.

The Senate approved it a day earlier and Napolitano signed the legislation Saturday afternoon, paving the way for Berlusconi to leave office as he promised to do after losing his parliamentary majority earlier in the week. He chaired his final Cabinet meeting Saturday evening.

Berlusconi stood as lawmakers applauded him in the parliament chamber immediately after the vote. But outside his office and in front of government palazzos across town, hundreds of curiosity-seekers massing to witness the final hours of his government heckled him and his ministers.

"Shame!" and "Get Out!" the crowds yelled, many toting "Bye Bye Silvio Party" posters as they marched through downtown Rome in a festive indication that for many Italians, like financial markets, the time had come for Berlusconi to go.

Berlusconi supporters were also out in force, some singing the national anthem, but they were outnumbered.

Earlier in the day, Berlusconi lunched with Monti in a clear sign the political transition was already under way, news reports said.

While the euroskeptic Northern League remained opposed to Monti's nomination, some lawmakers suggested they could support a Monti-led government for a few months to enact the additional EU-demanded reforms before elections are held in early 2012.

In a statement issued late Saturday, Berlusconi's Peoples of Liberty party said its members would support Monti, but added that they would also ensure that Monti's Cabinet, legislative agenda and the timeframe of his government meets their requirements.

Napolitano appealed for lawmakers to put the good of the country ahead of short-term, local interests ? an indirect appeal to members of Berlusconi's party and the allied Northern League to work with the new government.

"All political forces must act with a sense of responsibility," he said.

It was an ignoble end for the 75-year-old billionaire media mogul, who came to power for the first time in 1994 using a soccer chant "Let's Go Italy" as the name of his political party and selling Italians on a dream of prosperity with his own personal story of transformation from cruise-ship crooner to Italy's richest man.

While he became Italy's longest-serving post-war premier, Berlusconi's three stints as premier were tainted by corruption trials and accusations that he used his political power to help his business interests.

His last term has been marred by sex scandals, "bunga bunga" parties and criminal charges he paid a 17-year-old girl to have sex ? accusations he denies.

Italy is under intense pressure to quickly put in place a new and effective government to replace him, one that can push through even more painful reforms and austerity measures to deal with its staggering debts, which stand at euro1.9 trillion ($2.6 trillion), or a huge 120 percent of economic output. Italy has to roll over a little more than euro300 billion ($410 billion) of its debts next year alone.

Markets battered Italy this past week amid uncertainty that Berlusconi would really leave and questions over whether Italy's notoriously paralyzed parliament could rally around a replacement. But Italy's borrowing rates pulled back after Napolitano made clear he intended to tap the politically neutral economist Monti to try to head an interim government to push the reforms through.

The yield on benchmark Italian 10-year bonds fell to 6.48 percent Friday, safely below the crisis level of 7 percent reached earlier this week.

Greece, Ireland and Portugal all required international bailouts after their own borrowing rates passed 7 percent. The Italian economy would not be so easy to save. It totals $2 trillion, twice as much as the other three countries combined.

An Italian default could tear apart the coalition of 17 countries that use the euro as a common currency and deal a strong blow to the economies of Europe and the United States, both trying to avoid recessions.

The head of the International Monetary Fund, Christine Lagarde, said Saturday that Italy's political transition over the next few days should send a "clear sign of clarification and of credibility" that the country is now on the right path to get its finances back in order.

Speaking to reporters in Tokyo, Lagarde had high praise for Monti, saying she had great esteem for the "quality" economist with whom she had long enjoyed a "extremely warm" and effective relationship.

The IMF has a key role to play over the next few months in overseeing Italy's efforts to pull itself back from a Greek-style economic disaster, monitoring how it implements reforms to rein in debt and spur growth, which is projected at a scant 0.6 percent this year and 0.3 percent next year.

Amid market turmoil last week, Berlusconi was forced to ask for IMF monitoring of Italy's finances, a humiliating prospect for the eurozone's third-largest economy and an embarrassment for the long-defiant Berlusconi.

The premier, however, received a warm sendoff from one of his closest pals, Russian Prime Minister Vladimir Putin, who called Berlusconi "one of the last Mohicans of European politics" who had brought political stability to Italy.

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/ap/20111112/ap_on_bi_ge/eu_italy_financial_crisis

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When Is Leasing a Car Better Than Buying? [Ask Lifehacker]

When Is Leasing a Car Better Than Buying?Dear Lifehacker,
My old jalopy is about to die on me yet again, so it's time for a new car. I'm wondering if I'd be better off leasing my next car instead of buying it. Which is the better deal, leasing or buying with an auto loan?

Thanks,
Need a New Ride

Dear NNR,
Since buying a car is one of the biggest purchases you can make, it's wise to take a look at all your options. Both leasing and buying have advantages and disadvantages, just like renting versus buying a house.

The most obvious difference is that with a lease, you get a new car every few years and don't have to deal with the hassle of selling the car later; just hand the keys over to the dealer and get a new lease.

When you buy a car, on the other hand, each payment you make on a financed car builds equity; once you pay off the loan, it's yours free and clear and you can sell it (or donate it) for something later. (If you buy a car outright without a loan, you save even more money.)

What to Consider When Buying vs. Leasing

Since you asked primarily about which makes the most financial sense, here's how to figure that out and more considerations. As an example, let's look at the cost between buying or leasing a $20,000 car for five years, assuming the same 6% rate on a new car loan (paid off in 3 years) and the lease (two 3-year leases), and driving 12,000 miles a year (numbers provided by Edmunds).

1. Your monthly cash flow: Leasing a car often has a lower monthly payment compared to financing a car with the same loan terms, since with a lease you're paying for the depreciation of the car during those years rather than the whole vehicle cost. If you need access to more cash every month, leasing may be more favorable.

In our example, the car loan monthly payment is $608 a month; the lease is $350 a month for the first 3-year lease and then $385 a month for the last two years (because a second lease is initiated).

2. Available savings for a down payment and initial fees: Most lease agreements have low downpayments or you can get the dealer to waive the downpayment, and you'll pay less for the sales tax on a lease as well (the tax is calculated in most states only on the monthly payments, not the total cost of the car). As with the lower downpayment, leasing has a smaller impact on your budget and cash balance.

Example: $3,000 downpayment for the loan versus $2,000 for the lease.

3. How much you drive: If you drive a lot?over 10,000 to 15,000 miles, depending on the lease agreement?you'll probably have to pay extra for each mile. Smart Money says that many leasing companies charge 15 to 20 cents a mile for additional miles, but you could pay less (10 cents per mile) if you buy them upfront when you negotiate the lease. Kiplinger notes that although the extra mileage penalty sounds daunting, if you plan on trading in a car you bought, you'd be penalized for above-average mileage too.

This example doesn't have any extra mileage fees, but if you drove 5,000 miles over the agreement, at 20 cents a mile, that would cost you $1,000.

4. How hard you are on the car: If you're prone to getting scratches on your car or have a high risk of damage to it from kids or other hazards, a lease may not be for you, because of the wear-and-tear fees. Wear and tear fees vary and would depend on your agreement, but Lending Tree says these are typically limited to the total of three months' lease payments.

Our example also doesn't include wear and tear charges, but if you weren't able to keep the car pristine, three months' payments in this example would be $1,155.

5. If you drive the car for business: When you lease, a portion of the car's depreciation and financing costs can be deducted on your taxes. Interest on loans to buy a car, however, aren't deductible. The IRS has a guide for how to calculate the tax deduction for a leased car (there are a lot of calculations based on your business percent use of the car, how much the car costs, and additional expenses related to the car, such as gas and maintenance).

6. How long you plan on keeping the car and how flexible you need to be: This is a big consideration, of course, since if you really only want to drive the car for a few years, leasing is the most convenient option. However, you'll pay a lot if you try to get out of the lease before the term is up?as much as six extra months of payments, according to Smart Money. You'll need to be sure you can stick with the terms of your lease.

The reality: Buying a car is almost always cheaper in the long run, according to most calculations, such as this one from Cars.com. The longer you own the car, usually the more you save by buying.

In our example, at the end of five years, leasing a car cost $6,752 more than buying (assuming the car value at the end is $7,000)?$1,350 more per year to lease.

Run the numbers for your situation

There are other considerations, such as lifestyle ones (do you want to always have the latest auto tech?) and avoiding having to deal with hefty repair bills for an older car, in which leasing may seem more favorable, or whether you want to avoid confusing terms and agreements (buying may be better). If you just want a quick calculation on which makes the most financial sense, use a leasing calculator:

The buy or lease calculator on Dinkytown includes factors such as annual depreciation, loan and lease fees, and interest you could earn on the money you save upfront by leasing.

Bankrate's auto calculator is another useful tool. The wizard that asks you things like how well you maintain your cars and what your credit rating is like.

In the end, your decision will come down to your budget and your driving needs, but we'd almost always recommend buying over leasing. Good luck with your decision!

Love,
Lifehacker

P.S. There's a lot that goes into this, so if you have any other tips or advice about deciding between buying vs. leasing, share them with us in the comments.

Photo by Palto/Shutterstock.


You can follow or contact Melanie Pinola, the author of this post, on Twitter or Google+.

Source: http://feeds.gawker.com/~r/lifehacker/full/~3/zsXO12Ko2y0/should-i-buy-or-lease-a-car

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