Buying vs Leasing

Buying vs Leasing

Should you buy a car or you are better of leasing? If you look at it from a neutral perspective, both options have advantages and disadvantages. That’s what we want to explore here.

Car leasing is where you pay for the depreciation of the car and some fees. There may be a lump-sum requirement upon sign-up and later, monthly installments during the lease period. The advantage of car leasing is that you can drive whatever car you want without having the entire sum. The disadvantage is that you don’t own the vehicle even after paying such a large amount.

When it comes to buying, the vehicle can be purchased in cash, or via car financing. The advantage here is that you own the car, and there are no limitations on where you can go or what you can do with it. On the downside, you will have to bear the depreciation.

The choice of whether you will buy or lease a car depends on your needs. For example, if you like changing cars too often, or you are running a business, leasing a car may be the best choice. However, if you want something to keep, and maybe spice it up a little bit, it will be best to buy your car.

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