When in need of a new car, the question always arises: should I buy a new car or lease one? In order to find the answer that suits you most, some considerations are in order. Buying a car or leasing one is different when it comes to budget, financing plans, maintenance, lifestyle, and other important factors that should be taken under advisement.
- No future worries – when you lease a car you don’t need to trouble yourself with selling it the next owner. Selling a used car can prove challenging and time consuming at times.
- Shiny and new – there is no doubt that replacing your car with a brand new model every couple of years has its benefits.
- Lower monthly payments – this is important for those with tight monthly budgets that don’t want to worry about making ends meet.
- Constant warranty – issued by the leasing company. This goes a long way in terms of peace of mind.
Nevertheless, leasing also has its downsides. All in all, expenses are higher throughout the leasing period. Additionally, you’ll need to stick to a stable and predictable lifestyle in order to maintain insurance requirements and drive a set number of miles.
- Ownership – you are the sole owner so you can do whatever you like, such as pay off your entire loan and customize your vehicle as you wish, on the inside and on the outside.
- Cruz at will – you can drive around as much miles as you want and conduct an unexpected, spontaneous lifestyle relying on your car.
Nevertheless, remember that you are at risk of unexpected expenditure and that eventually, you will have to sell your car which can take some time and energy.
Good luck making the right choice for you!