Which Is Better Leasing A Car Or Buying One

Which Is Better Leasing A Car Or Buying One

There is​ nothing quite like the feeling of​ buying a​ brand new car. Most people have a​ few clunkers, and maybe a​ lemon or​ two as​ their first few cars, while they save up for a​ decent down payment for their dream car. Nowadays however, with every major car company allowing people to​ lease a​ vehicle rather than buying it, saving up for a​ down payment is​ not as​ necessary as​ it​ used to​ be.

Leasing dropped into the car scene a​ few years ago and has been viewed as​ a​ life saver to​ many would be car owners. When you think about it, what person wouldn’t choose to​ pay $175 or​ $250 a​ month for a​ car instead of​ $350 or​ $500? Leasing prices are much lower than monthly payments, no matter how big your down payment is! Some companies offer leasing packages that almost sound too good to​ be true. However, they usually are too good to​ be true!

If you are looking to​ buy a​ new car but you are dragging your feet about paying a​ high monthly payment, the leasing option is​ probably starting to​ look really good to​ you. if​ you do your research however, you will ultimately find that buying your car is​ almost always the smartest thing to​ do. I would say that the only exception to​ this is​ if​ you have moved somewhere for a​ short period of​ time for your job, or​ for schooling and you need a​ car. in​ these cases, leasing would be a​ smart thing to​ do, as​ long as​ you are not planning any long road trips.

When you enter into a​ leasing agreement, you are basically borrowing a​ car from a​ company, with the understanding that if​ anything should happen to​ the car, you are 100% liable, and you will have to​ pay any damages. When you buy a​ car, the same applies, but when you own your car, you don’t have to​ give it​ back after putting your money into it! You also get the added benefit of​ trading it​ in​ for another new car when the time comes.

When you lease your car, the lease agreement is​ usually for four to​ five years, after which you will have the option to​ give it​ back (once the car company has made absolutely sure it​ is​ coming back with no scratches or​ dents!) or​ to​ pay the remaining thousands cash down so you can own the car. Although the monthly payment for leasing a​ car is​ lower, it​ is​ still cheaper and better in​ the long run to​ purchase the car and pay a​ higher monthly payment.

If you own your car, you make the rules, you decide if​ a​ dent or​ scratch really does need fixing and if​ it​ does, you can decide where you want to​ get it​ fixed. You can also drive as​ far as​ you like in​ a​ year, and not worry about paying for your mileage. Leasing agreements usually give you 20,000 kilometers or​ miles per year an​ you will pay a​ lot extra to​ be able to​ drive more in​ a​ year.

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