The Benefits of Leasing a car vs Buying a car.
Written by: Eric T.
There are so many pros and cons to everything we do in our daily lives. In fact the decisions we make are all based on what we believe will be the better option in that moment without thinking of the end result. When it comes to cars there are two options. You can decide to buy a brand new car or you can lease a car. Although one path may sound better does it really benefit you in the long run?
When buying a car there are pros and there are cons. The pros are that you pay for the car straight up. There are no monthly payments, but if you get a loan from the bank then those loan payments will be much greater and cost more than monthly lease payments. The reason for this is because you are paying off the vehicle as a whole. Once the payments are done then you own the car and you can decide to sell the car or trade the car in the future. Then there is leasing a car. Leasing a car requires payments monthly, but those costs will almost always be cheaper than loan payments. When the payments are done you have a couple of decisions to make. You can lease or purchase another vehicle or you can finance the vehicle that you have just finished leasing. These options have many pros and cons, but it all depends on what best fits you and your past record.
I didn't even really know what leasing a car meant before I had read this article, it is something that I feel like a lot of people have heard of but don't know all that much about (or maybe it's just me). I had no idea that leasing was even an option when looking to own a car. It's interesting to read about these differences.
ReplyDeleteI have never known about any information about leasing a car. My parents have never leased a car, they have always bought they cars used or new. On the other hand, I was in my cousin's car the other month who had a lease and we talked about what it meant. This post made me think about what I am going to do with my first to my last car that I buy/lease.
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