Unable to make a decision between buying and leasing a car, can fog one’s idea and perception. What to do and what not to do, what are the pros and cons of buying or leasing a car is a tough choice. We are here to throw some light to help a client understand what option will fulfil their need.
To speak broadly, leasing is always better in the case of depreciating products. Anything that you want to buy that will decrease in value, and if leasing is an option, then go for it. For some people, owning something is more of an emotional attachment for them. We cannot ignore the value of owning something from our hard-earned money. For a son who got a car as a gift from his father, someone who bought their dream car after a lot of saving adds value to the things we own, and we cannot replace them with anything else in life. Surely, for those who want to make something of value with a sentiment, buying is a good option. Also, it gives one the satisfaction of being a proud owner of a commodity, which is a separate feeling altogether.
What does it mean to Lease a Car?
Leasing is like renting where for a certain time frame; you get to enjoy a car of your choice. A contract between you and the dealer will take place, which will have all the responsibilities that you and the dealer will adhere to, including the pre-set price in case you would like to buy at the end of the contract. Car insurance, accidental damage and theft protection can be a part of the contract too. It solely depends on the dealer from whom you are interested in leasing the car.
Benefits of Leasing a Car:
Leasing is Cheap!
For people who are looking to buy a car on a loan, they should think again! The loan will be expensive than leasing a car. Every month installment will be more than the one on the lease contract. Monthly loan payment of the car will depend on the sale price and one’s ability to pay back the amount on a set number of months. Usually, if one calculates, you will end up paying quite much for a monthly loan instalment as compared to the lease payment price.
Choice of Cars after Every Few Years!
One advantage that we can absolutely not ignore is that a person who leases a car will have a choice to get a new one at the end of the contract. It will be your choice whether you want to lease the same car again, buy it or change and get a new one. How awesome is that?
Saves one from the madness of unforeseen expenses:
A car is machinery, and it ought to become old at some time. Also, when something goes wrong, we can never know. So now if you have leased a car, the dealer company will pretty much cover everything in the insurance of the car usually, if the contract is of a minimum of 3 years. No hassles for you at all!
If you are looking to buy a car on a loan, then we recommend getting it on lease. It will save you from much of the trouble. For people who like changing cars and stay in trend, leasing is definitely for them. Enjoy a car and then lease a new one! It becomes exciting and also, you save a lot of bucks.