To buy or to lease? That is the question. Many are presented with this choice upon buying a car. With so many options for car buyers, comparing new car dealerships, used car dealerships and even buy here pay here car lots, this is no simple question to answer, but after reading this, you will have some insight as to what option is best for you. One of the first questions to ask is, would you like to own the car, or have a new model every few years? If you buy a car, your payments go toward you eventually owning the vehicle. Also, consider buying if you use your car for work (depending on the work), or have kids, and or pets, your car will take on wear that isn’t considered normal.
When leasing, you are expected to keep the car in the best condition or you will have to pay for damages outside of normal wear and tear. When you lease, your payments do not go towards anything you can keep. So if you like having a new late model car every few years leasing is for you. You will not have to worry about resale value or how much you are losing when you have to sell it. With leasing, as long as the car is in good condition, you give back the keys and start a new lease on another car. How much do you drive? This is a question that must be answered before deciding whether to buy or lease. With leasing, you have a limit on the miles you can drive. The average lease driver drives around 15,000 miles a year, so most contracts will have around that limit. If you will be driving more than that, you will want to consider buying the car because, if you go over the limit you will have to pay more than you would have.
Finally, leasing vs buying comes down to finance. How much can you afford? Is your life stable? Leasing gives you lower down payments and monthly payments. This can be good for people who cannot afford to put down 10 percent of the cars cost upfront let alone the higher monthly payments of buying a car. If you foresee any problems later down in your life, like job loss, divorce, injury, or anything that could hinder you making your payments, you might want to consider buying.
Missing payments or opting out of a lease before time will have you paying way more than you would like. If things are not stable in your life buying will be the better option. At the end of the day, Leasing vs buying depends on your lifestyle. If you have a stable life, can keep your car in good condition, don’t drive much, and like to have the latest model car every few years, leasing is for you. If you want to own something, drive alot, will put excessive wear, or want more flexibility with your payment options incase of emergency, buying would be a better option. The choice is yours, but now you can make a more informed decision.
Some people that have bad credit aren’t able to lease vehicles, and usually find the easiest way to purchase is through any number of buy here pay here car lots that provide easy car buying without consideration of past circumstances. Having a job and car insurance is usually the requirement to get approved, so long as the customer is not in a current bankruptcy. Find local buy here pay here car lots in your area at http://buynpayhere.com.
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