Should You Buy or Lease a Car?

Many people believe that if you lease a vehicle, you won’t have anything to show for the money invested into the car once the lease runs out. Truth is, many times, new car leasing available at Lease Cars comes with the option to buy the car once the lease is up. The reality behind whether it is best to buy or lease a car is determined by your exact preferences; however, for the most part, it is usually better to lease than buy.

Leasing

Advantages of Leasing

When you obtain a lease agreement such as Nissan car leasing available at Lease Cars, you don’t have to come up with a large down payment. In fact, the amount the dealer is asking for can usually be negotiated for an even lower price. Just keep in mind, the more money you have to put towards a down payment, the lower your payments will be.

Another advantage gained when leasing is that your monthly payments will be lower than they would be if you financed the car. Reasoning behind this is because when leasing, you are only paying the depreciation amount of the car; this is unlike buying a car where you are paying on the full value.

Are you looking for another reason to lease? If so, take into consideration the easy turnover. In fact, when your lease is up, you don’t have to worry about selling the car. Instead, you can drive to the dealer’s lot, lease the car again, return it for a new lease, or completely do away with the lease. It’s completely up to you.

Disadvantages of Leasing

Just as with anything in life, there are disadvantages when leasing a car. For starters, you don’t build up any type of equity in your vehicle. There never comes a point in which you own the car because you are simply leasing it.

Furthermore, there will be a hefty penalty if you want to cancel your lease before the term is up. Many dealers who lease cars will charge you six months of payments if you choose to cancel the lease early.

Lastly, your insurance on a leased car may not cover the amount that you owe on a lease. Fortunately, you can purchase gap insurance to cover the amount that your insurance doesn’t cover.

Only you can decide for yourself whether or not to lease or buy a car. Keep in mind, however, if you find it affordable and suitable, leasing a car oftentimes works out much better than purchasing, especially when compared to buying a car and having it financed.

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