You have finally decided to change your car and now you’re facing a new question, lease or buy? This question depends on your lifestyle and your inclinations.
It’s not just generalizing, but the leasing vs. buying subject goes way beyond the savings question, although this one is important and we will help you get the greatest deal. It has more to do with your kind of lifestyle and your personal preferences. That’s why we have created this simple guide where you can evaluate the pros and cons of leasing and buying and decide which one is the right one for you.
Pros of Car Leasing- Significantly lower monthly payments
- Low or zero down-payment requested
- You can afford to drive a luxurious car for less money
- The new car factory warranty usually covers the lease term, so there’s no maintenance costs
- You can change your car more often
- You only have to pay for any tax related fees for the portion of the car you finance
- Cars deprecate quickly and you’ll be driving the car the first years when it has more value, after that the car significantly loses value and you can change it.
- You can also get incentives and rebates on every car lease that will give you even lower monthly payments
- You’re not the owner of the car at the end of the lease, but you can quickly change your car for a newer model and keep on paying a very low monthly payment. While you’re driving it, who cares if the cars title is not under your name?
- Your mileage is limited, typically 12,000-15,000 miles a year, you can negotiate this with the rest of the lease agreement and you may get a better mileage limit.
- You may get confused if you have not made a previous online research.
- You own your car at the end of the lease.
- Greater flexibility, as you own the car you can decide when to sell it or change it
- High monthly payments
- Significant down-payment usually required
- You’re responsible of every aspect of the car, maintenance costs, and every other extras that may be required.
- You’re putting a significant amount of money into a car that will quickly lose value. It’s a fact that cars depreciate when we start driving them.
Leasing is a very good alternative to get more car for less money, as the monthly payments are usually less than the ones when buying. Do a thorough online research and request for a price quote to learn all the leasing terms that may confuse you while negotiating plus getting the best prices available on your zip code directly to your inbox.
