Should You Lease or Buy a Car

1. Should You Lease or Buy a Car? Leasing a car is one thing many consider especially when traveling is not done daily or on a regular basis. Buying a car is what most considers especially when it requires them to travel daily or regularly. Leasing and buying have each their pros and cons depending on the situation. You may have come up in this article while searching for a guide on whether to buy or lease a car. In this post, we are going to talk about leasing and buying a car with their pros and cons. If you want to learn more about buying, selling, and hiring cars, feel free to visit Ringwood MG. Leasing a Car You might get tempted to lease a car because it only requires a small amount or sometimes no money required for a down payment. Plus, it offers low monthly payments compared to buying. But remember this, when you lease a car there is a timeframe for the usage. Once the lease ends, you will have no car to use for your errands. Then, you need to go shopping for a car again. There are also different factors you need to consider before deciding to lease a car. Some are to your advantage, and some are to your disadvantage. The important thing is to weigh the positive and negative to come up with a reasonable decision. Pros of Leasing a Car •You can choose to drive an expensive car but less payment. •Every few years, you can change different car models with the latest advancement in technology. •Under the factory warranty, the most needed repairs for the leased car are covered by warranty. •No hassle at the start and end of the lease. Cons of Leasing a Car •You cannot call the car your own. •The leasing period will eventually end and you will be left with no car. •You need to go shopping for a new car to lease every end of the leasing period. Buying a Car As I have discussed earlier, leasing is basically renting a car that you can use for a given period. Buying a car, on the other hand, is paying for a car that will be yours after a period of payments. Buying can be

2. more expensive and the monthly dues are higher than leasing. But after paying the loan (if it is an installment basis), the car is yours for all the years to come. Pros of Buying a Car •You can sell your car anytime you want to. •You can choose to have your car customized to your liking. •Drive all you want and reach to whatever mileage, you won't get any penalties. •The car is all yours. Cons of Buying a Car •For an installment basis, you need a higher amount as a down payment. •The monthly payment is higher than that of leasing.