Is it better to work out with weights or body weight to lose weight?

Weight loss is a matter of burning calories. It has far less to do with the specific type of exercise than it does the intensity and duration with which it is performed. Most trainers would recommend long duration exercises like running, cycling, or swimming for weight loss.

To answer your question, however, use body weight, as it will allow more rapid transition from one exercise to another. Keep moving. Use a pace that allows you to go for at least 30 minutes, developing a light sweat and moderately high pulse.