Should I lease or buy a car? – One of the biggest question that arises to every car buyer. It is one of the factors that affect purchases. If a person doesn’t take proper care, car buying purpose can be ruined entirely. Therefore, it becomes indispensable to consider every aspect related to your decision of investing in a car. After all, it is the second largest financial investment. Nonetheless, hunting for a car dealership is not at all a point to worry as surfing online for “Ford dealership in Cumming, GA” can help you the most. Still, there is a shade of apprehension in deciding the way of purchasing.
Whether to lease or to buy a car has always been the most debatable concept and there is no clear-cut answer to a query raised during the purchases. However, it is not possible to end up on a single way of buying a car. Leasing and buying both have its pros and cons. Therefore, to assist you further we thought to portray you an entire scenario.
Pros of Buying A Car
If you’re looking forward to keeping a vehicle for a longer period, buying can be a better decision. When you buy a car, you’ve its ownership after the completion of loan payment. Though during the loan you don’t have rights to own, there is an assurance that it would be yours as soon as the loan payment procedure gets over. This way you get the freedom to customize the interior of the car your way. Besides, you won’t have to make any kind of payments (such as gas, repairs or insurance) other than the costs of ownership.
As compared to leasing, buying a car doesn’t involve risk of possible lease-end charges. Also, there is no restriction of driving, you can drive it for as many miles as you like.
Cons of Buying A Car
As every aspect is jaunt-faced, this method has some drawbacks even though it has these many benefits. Its one of the biggest impede factors that affect buying a car is splurging great amount of money at first. Moreover, monthly payments of the loan are quite higher than that of a lease.
Apart from this heavy burden to the pockets related to the cost of ownership, unexpected repair costs after the warranty period can be a great burden.
Pros of Leasing A Car
It has a set of benefits altogether, but one of the best ones is the reduced costs. Unlike buying a car, you’re not bound to pay the entire cost. Rather, it is just a depreciation for which you’ve to pay. You can call it somewhat similar to financing but not exactly the same.
In leasing a car, you don’t have to pay a tremendous amount of down payment. Even monthly lease payment would be quite lower than monthly payments of the car loan.
Cons of Leasing A Car
By the time lease period ends, you’ve to return the car to the dealership. Though you’re not getting right to own a car, there is another bigger drawback than the ownership i.e. mileage restriction. There is a limit to the number of miles to drive a vehicle. Every lease contract imposes the limit ranging from 9000 to 15000 miles a year. If you tend to cross the range, you’d be liable to pay additional charges.
Now that you’re introduced to an entire scenario, the ball is in your court whether to prefer buying or leasing. It is your call where you need to analyze and make a perfectly suitable decision. Be it making efforts while researching or taking references, it’s only you who can know what will be better. Therefore, it would be better to go through an introspection and determine your needs. By this means you can ensure appropriateness of your car buying decision.
Apart from depending upon the intuitions, you can be assured by consulting a reliable dealership such as Angelakrauseford.com. It has more than 20 years of experience in the field of offering both new and used cars.