Lease or a car loan – that is the question. If you plan on buying your first car or want to upgrade the old thing you’re driving now, there are many aspects to this transition you need to consider. When it comes to deciding whether you should lease or buy a car, a lot depends on your lifestyle, your financial abilities, as well as personal preferences.
Let’s take a closer to look at why leasing might be a more attractive option:
When You Want Sweet New Ride Every Couple of Years
This is what we meant when we mentioned personal preferences. There are people who have no problem with driving the same car for 5+ years, and there’s nothing wrong with that. However, if you’re a car aficionado and like to test out a new machine every two or three years, then leasing a car is definitely a better option for you. The whole point of leasing is to find the car you like, drive it for an established period of time, make payments accordingly, and then return it in exchange for a new one. It’s a simple system, and though you do have to be careful when it comes the mileage you cover and the changes you make so that you don’t pay extra fees, the fact that you get a new car every couple of years is quite enticing.
When You Want to Have Affordable Monthly Payments
Here’s the thing, when you get a loan for buying a car, the monthly payment can be quite high, especially if you plan on getting a pricier model. When it comes to leasing, matters are simpler. Since you’re not supposed the pay for the entirety of the car, but only for the usage, monthly payment can be lower for staggering 50-60% than when you’re buying a car. This is a considerable advantage, but it has to be pointed out it only works for you on a short-term basis. There are many different leasing groups that will give you different lease conditions, and you would do well to know exactly what to expect. You can always consult websites like toomeylease to find out more about the details of a lease contract, as well as what a certain leasing group can offer you. The good news is that you can drive a car that is well out of your price range, have more than manageable monthly payments and after your lease is up, all you have to do is trade it in for a new, better model.
When You Don’t Want to Worry about Maintenance and Repairs
One of the best perks of leasing a car is definitely the warranty that comes with it. When you decide to lease a vehicle of your choice, you also get a warranty thanks to which most maintenance and repair costs are covered. This is going to be great news when something goes wrong with the car and you’re fully aware that repairing it on your own terms would cost a small fortune. Having a lease allows you to not to worry when it comes to any technical problems you may encounter, and what’s more, you won’t have to fret about any unexpected repair fees you’d usually have to deal with.
When You Don’t Want to Go Through the Resale Process
While some people may find some thrill in haggling for the best price to sell their used car, others really don’t want to deal with all that additional hassle. If you’d prefer not to go through the entire resale process, which can be long and complicated, then leasing is certainly a better solution for you. After your lease is up, give your car back to the dealership, make sure you don’t have to pay any additional fees and now it’s up to you to reach a decision what your new car should be.