If you are out there looking for a new car, it is very likely you have thought about leasing versus buying. While most car buyers choose to buy a car , others prefer the aspect of leasing. To help you make a very informed choice, we are going to weigh the positive and negative aspects of car leasing vs buying.
Advantages of buying a car
Buying a car comes with an array of benefits. First, since you fully own the car, you can do any kind of modification and in any manner you choose. Secondly, there is no mileage restrictions you have to deal with when you buy a car. You can go to any place you like without having to worry about penalties in mileage.
The kind of flexibility that comes with buying car makes it worthwhile. For example, the owner has more flexibility since you can sell the car anytime you want.
While buying a car comes with a whole list of benefits, there are also a couple of things that should have you worried. To start with, it is important to note that a car depreciates in value over a length of times; something that can deplete your savings in the log run.
Advantages of leasing a car
Leasing on the other hand comes with its own share of benefits and drawbacks, as well. To start with, let’s look at the pros of leasing a car. Unlike buying a car, leasing gives you an opportunity to drive a more expensive car for little money every month. Additionally, with leasing you pay less sale tax and the best part, there is no trade-in hassle when your lease comes to an end. (more…)