Buying Vs Leasing a Car
You all grew up and just completed your first year at a new job. You are enjoying life but are realizing that riding public transportation every day is a waste of time and a waste of life. Its time to look into a new car and the options are endless.
But you sit down to make a choice and the salesman asks, buying or leasing? Did you even know you had an option? What are the benefits to buying or leasing?
One reason that people tend to purchase versus lease is money. Although in the short term it is cheaper to lease per month, buying a car actually pays yourself. In the end, when the car is paid off you will have something. Versus leasing, when the money is paid it goes to a large corporation and you don’t have a car at the end.
Along with that, it is cheaper to insure a purchased car. However, the maintenance of a leased vehicle is much less because typically the car owner takes care of that. It’s similar to renting a house. When there is a problem, you just call the owner. From a money standpoint, leasing is also better because then you won’t have that debt on your credit report.
If you are a person who likes to trade your vehicle often, you will find yourself in a pile of debt if you choose to do that and purchase a vehicle. One benefit to leasing is that you can switch cars more often without the ding to your credit. With leasing, you can trade your lease in at the end and lease something different.
This is great because if you go through any large life changes, like having children, you don’t have to purchase or trade your vehicle off. At the end of your lease, you can take the car back and get one more suitable to your needs. If you are looking to lease or buy check out automobile leasing Dallas.
The minute you drive off of the car lot, your car loses value. So if you lease a car, you won’t have to deal with that value depreciation. That is basically what your payment each month covers. This is nice because you aren’t having to worry about whether or not your car will be worth anything at time of trade in.
Although leasing a car seems financially more suitable, if you look at the bigger picture, maybe it isn’t. Depending on your lease contract, you may be limited on the number of miles per month you can put on your car. And you will need to be very sure that you take good care of the car because you may lose your refund if you bring back a damaged car.
Along with that, smoking or eating in your leased car may not be possible. So you will have to be sure that you are using a very clean lifestyle when it comes to your leased car. Along with that, some leasing companies limit you on the number of miles each month or leasing period that you can drive. How annoying to have a car that you cannot drive! If you are looking for a lease, the place to go is Automobile leasing Dallas.
There are many perks to leasing versus buying however at the end of it all of your payment money goes to the company you are leasing from versus going to your pocket. At the end of a payment schedule you will have a car that you can keep. Along with that, you can drive your car as many miles as you want every month and you can choose to smoke or eat in it.