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Pros and Cons of Car Buying vs Car Leasing

It is important to understand there is no one right or wrong answer, it will all come down to what you want/need. Once you understand the difference between Lease Versus Buy a car, you might be able to decide instantly. So, lets take a minute here and understand the Pros and Cons of Car Buying vs Car leasing.

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Pros and Cons of Car Buying vs Car Leasing

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  1. New Car : Lease Versus Buy ? That is the question

  2. Lease Buy Summer is a wonderful time of the year, not only for a vacation, but also to get yourself into a nice smooth high tech car, with so many deals and discounts, you may find yourself tempted to get a new car, or it might be just the time for you to update your car before that cold terrible winter come by, once you start looking into new cars, it will not take you more than a visit to a dealer website or store before you find yourself asking this question if you should lease a car ? or buy a car ? It is important to understand there is no one right or wrong answer, it will all come down to what you want/need. Once you understand the difference between Lease Versus Buy a car, you might be able to decide instantly. So, lets take a  minuet here and understand the Pros and Cons of Car Buying vs Car leasing.

  3. Pros of leasing a Car: • You are stuck for few years with new car, once the lease is over, you can get a newer car • Low monthly payment • Low Upfront / No upfront payment • Low Sale Tax : You pay sale tax only on the monthly payment ( the depreciated portion of the car and not the entire car ) • You know what you loosing upfront, what you pay for the car is what you loosing in the investment, you don’t have to worry about resale value • Option to Buy-in the car by the end of the lease

  4. Cons of Leasing a Car: • Millage Limitations : You are limited to usually 10k,12k, or 15k mile per year (you can buy more in advance, but if you ended up using more than what you agreed on, the dealer will end up over charging you per mile). • Early Termination Fees: Can be very excessive, you would probably save more by not terminating the car early and keep it parked in front of your house. • You have no equality : Buy the time you return the car, you may need to buy or lease another car. • Excessive Tears, or scratches to the car : The dealer will charge you for excessive scratches and wear.

  5. Pros of Buying a Car: • Ownership: You own a car at the end of the long painful loan process that you can always count on. • Better for long term : The longer you keep the car, the more value you get out of it. • Customization : You can make your car, really your own • No millage limitation : The Sky is your limit, drive it all year round if you like. • Your children are welcome to scratch it : Not literally, but if they did, you don’t have to worry about paying the dealer for the damages

  6. Cons of Buying a Car: • You pay more down payment and settlement • Pay sale tax on the full price of the car • Car value depreciate fast • If you keep it on the long term, you will have to be more concerned about maintenance. • Buying a car make it harder for you to own a new car on the near future.

  7. LEASING BUYING VERSUS At the end of day, buying a car versus leasing it, it all come down to your usage and how good of a user you are. If you have children who love to mess around your car is parked on the street, and you drive long distance or road trip lover, the chances are leasing is not the best option for you. On the other hand, if you have a nice garage, no children, and have limited travel distance, lease might be the perfect option for you

  8. FOR MORE INFORMATION VISIT US AT: www.pandacashback.com

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