Choosing a new car can be a tough choice. To make it even harder, you also need figure out if you’re going to lease or buy. With there being many benefits to both, we have shared pros and cons for both, leasing and buying, to help you with your decision.
Leasing. What is it? Think of leasing like renting a car. You make monthly payments to drive a new car for a two or three year period.
Pros:
• Often no down payment required.
• Pay less per month than you would repaying a car loan.
• When the lease is up, you turn the car in – no hassle of selling or trading.
Cons:
• Most lease agreements grant you a limited number of miles.
• It can be frustrating to pay for something you'll never own.
Buying. How it works: Pay the full amount or take a loan to make monthly payments until the car is paid off.
Pros:
• Best deal if you drive over 15,000 miles per year.
• Once it’s paid off, you own it. No more payments.
• Able to modify the car how you want
Cons:
• Able to put down at least 10 percent of the purchase price.
• The older your car gets, the more you can expect to pay for repairs.
What’s your take on buying and leasing?
Leasing can be good for short-term plans. It is especially good for those who are single and are trying to save for something in the future, or for those who are self-employed, since it offers a package where they would not have to worry about maintenance costs. Leasing will free their budget from repairs and maintenance, which can sometimes entail hefty prices.
ReplyDelete- Nettie Christensen
Buying used cars can also be an alternative. This move will help the buyer save on costs of purchase and guarantee warranties. Once you’re done with the payments, you own the car. You have something to show for all your troubles.
ReplyDeleteKyle Schmidt
There’s nothing better than being able to modify your car. Owning it is a plus when you have the budget for it, especially if it is a new car. A new car will also guarantee you of the “straight-from-production” quality of the vehicle, which will lead you worry free of any underlying quirks and jibs.
ReplyDelete[Clint Moore]